SBF Apologises to FTX Employees Via Letter, Explains What Happened
Sam Bankman-Fried (SBF), the founder and former CEO of the now-bankrupt cryptocurrency exchange FTX, has written a letter of apology to his employees, explaining the series of events that led to the collapse of his empire.
Litecoin (LTC) Breaks Above $75 As Price Eyes $90; Here Are Levels To Watch
Litecoin (LTC) price has held strong above $60, showing good bullish signs of rallying to a high of $90-$100 if the market conditions remain favorable for prices. With many looking for a major dump in Bitcoin (BTC) price, the price of Bitcoin (BTC) bounced from $15,500 as price rallied to a high of $16,500, leaving bears on the sidelines as the price of Litecoin (LTC) gains more momentum to rally. The price action displayed by Litecoin (LTC) in recent times has been encouraging compared to many altcoins battling for survival. The Domino effect of the FTX saga and other huge investors involved has left the market at a standstill as the market is yet to make a major move after previous weeks. (Data from Binance)
Breaking: Turkey Seizes Assets of FTX Founder Sam Bankman-Fried
According to a statement made on Wednesday by the Treasury and Finance Ministry of Turkey, an inquiry has been opened into claims of fraud against Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX. In the course of the inquiry, Turkish authorities have also seized the assets of Bankman-Fried and its affiliates.
What Is a Crypto Exchange Token and How Did It Help Blow up FTX?
The FTT exchange token played a key role in the downfall of the crypto exchange FTX and affiliated trading firm Alameda Research. It was the use of FTT to inflate both entities’ balance sheets, reported by CoinDesk’s Ian Allison on Nov. 2, that raised the first doubts that sparked the collapse.
Bankruptcy Filing Reveals China Was FTX’s Largest Client After Island Tax Havens
A bankruptcy filing by the now-collapsed cryptocurrency exchange FTX revealed the platform’s global customer distribution at the peak of its operations.
InsurAce To Pay Out on FTX Claims, Launches Crypto Deposit Insurance To Protect CEX Users – SlateCast #35
DeFi insurance platform InsurAce is launching a new crypto deposit insurance program titled ‘Crypto Deposit Insurance Scheme’ (CDIS.) The product is hitting the market partly in response to the issues that have plagued CeFi throughout 2022. The collapse of Celsius, Voyager, BlockFi, and now FTX has led to consumer confidence in crypto being rocked.
US Congressman Defends Decentralization, Blames SBF, Gensler, CeFi for FTX Collapse
U.S. Congressman Tom Emmer said FTX’s collapse was not a crypto failure; instead, it was a failure of centralized finance (CeFi), Sam Bankman-Fried, and SEC’s Chairman Gary Gensler in a Nov. 22 Fox Business interview.
SEC Facing Rising Scrutiny After FTX’s Epic Implosion
After the high-profile implosion of FTX, crypto skeptics and digital currency advocates have both asked the question: Could the Securities and Exchange Commission have done more?
At FTX’s First Bankruptcy Hearing, Lawyer Calls Out ‘Substantial Amount’ of Missing, Stolen Assets
A “substantial amount of assets” of collapsed cryptocurrency exchange FTX have either been stolen or are missing, an attorney for FTX said on Tuesday at its first hearing in the federal bankruptcy court in Delaware, U.S.
UK’s Starling Bank Blocks Crypto Transactions Post-FTX Collapse
Starling Bank has joined other UK-based banking companies to end support for transactions related to crypto.
