Genesis Creditors Organize in Bid to Forestall Bankruptcy Move
Crypto firm Genesis Global Capital warned last week about a possible bankruptcy filing, and now some of its creditors are pursuing options in order to prevent such a move.
FTX Collapse Was the End for BlockFi, Is Genesis Next?
According to BlockFi executives, the company had up to 100,000 creditors and a range between $1 and $10 billion in assets and liabilities.
SBF Denied He Built a Backdoor to Move User Funds: I Don’t Even Know How to Code
As for whether Bankman-Fried created a “backdoor” to discreetly move user funds to Alameda without attracting attention as <a href="https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/">reported by Reuters</a>, Bankman-Fried suggested that “I certainly didn't build the back door in there and I don't know exactly what they're referring to.”
Troubled Crypto Lender BlockFi Has $355 Million in Digital Assets ‘Frozen’ on FTX
“In addition to the loan arrangement, and the $275 million that was drawn, BlockFi acted as a lender to Alameda, which is an FTX trading subsidiary, and they also had crypto on the FTX platform,” Sussberg said in court. “Specifically, BlockFi had $671 million in outstanding loans that are defaulted to Alameda and $355 million in digital assets that, unfortunately, are now frozen on the FTX platform.”
Serum Exchange Rendered ‘Defunct’ Following the Collapse of Alameda and FTX
The Solana-based decentralized exchange (DEX) has notified its community that the collapse of its backers — Alameda and FTX — has rendered its program “defunct”.
Binance and Coinbase Among Crypto Firms Questioned by US Senator After FTX Mess
Binance.US and Coinbase (COIN) are on a list of crypto companies questioned this week by the chairman of the U.S. Senate Finance Committee about how they protect the investors using their services in light of the widespread damage caused by the fall of FTX.
Sam Bankman-Fried Says FTX Hacker May Be a Former Employee
In an <a href="https://www.youtube.com/watch?v=6DezodR9hNI&t=0s" target="_blank">interview</a> with Tiffany Fong published Tuesday, the disgraced FTX founder and former CEO explained why FTX prioritized Bahamian withdrawals—and also said he’s narrowed down who might be behind that shady <a href="https://decrypt.co/114269/hundreds-of-millions-of-dollars-drained-from-ftx-overnight-in-unauthorized-transfers" target="_blank">$650 million</a> “hack” the night of the Chapter 11 bankruptcy filing.
FTX Hacker Reportedly Transfers a Portion of Stolen Funds to OKX After Using Bitcoin Mixer
A crypto analyst who goes by ZachXBT on Twitter alleged that the FTX hackers have transferred a portion of the stolen funds to the OKX exchange, after using the Bitcoin mixer ChipMixer. The analyst reported that at least 225 BTC — worth $4.1 million USD — has been sent to OKX so far.
FTX Resumes Payments to Employees And Contractors Pending Bankruptcy Hearings
FTX has resumed post-bankruptcy payments to employees worldwide days after they were halted following a chapter 11 bankruptcy filing in the US.
Serum (SRM) Backs Community Hard Fork Plans After FTX Collapse
Serum (SRM) – the Solana-based DEX protocol launched in part by FTX – is seeking a fresh restart after FTX’s fallout left the project’s security permanently compromised.
