Sam Bankman-Fried's Crumbling FTX Empire Holds $1.2B Cash Reserves
The various divisions of Sam Bankman-Fried's crumbling set of companies have $1.2 billion in cash as of Nov. 20, far below the $3.1 billion it owes its top 50 creditors, court documents show.
Vitalik Buterin Discusses FTX Collapse — Says ‘Centralized Anything Is by Default Suspect’
The Ethereum co-founder emphasized that blockchain-based and decentralized finance (defi) protocols work “flawlessly.”
Bankrupt Crypto Exchange FTX Exploring Sales of Subsidiaries, CEO Reveals
Bankrupt cryptocurrency exchange FTX is exploring sales, recapitalizations, and other strategic transactions with respect to its solvent subsidiaries.
Bankrupt Crypto Exchange FTX Exploring Sales of Subsidiaries, CEO Reveals
Bankrupt cryptocurrency exchange FTX is exploring sales, recapitalizations, and other strategic transactions with respect to its solvent subsidiaries. The firm’s new CEO has instructed the FTX team “to prioritize the preservation of franchise value as best we can in these difficult circumstances.”
FTX Comes Clean and Admits That It Owes over $3 Billion to Its 50 Biggest Creditors
Embattled FTX is in bankruptcy court, and a new filing has unveiled the depth of their indebtedness.
FTX Hacker All Set to Dump Ethereum (ETH) Holdings?
In what could be yet another blow for the crypto community, the FTX hacker has just moved 195,000 Ethereum from his wallet. This could mean the hacker will convert the transferred ETH into Bitcoin (BTC).
“Funds Stolen from FTX” on The Move: A Dump Will Have This Effect on ETH
According to a tweet published by Chainalysis on 20 November, the <a href="https://ambcrypto.com/the-curious-case-of-ftx-and-the-hacker-that-holds-eth-worth-300-million/">stolen assets</a> from the FTX cryptocurrency exchange have been changed from ETH to BTC. Data from <a href="https://etherscan.io/address/0x866EeEcd1F248d1a0a2e0263F13594a6B8B7c01A" target="_blank">etherscan</a> revealed that the transaction originated from the address associated with the suspected hacker.
FTX owes nearly $3.1B to creditors, lawyers warn about “Enormous Exercise”
Investors are curious as to when they will get their money from the now-defunct cryptocurrency exchange <a href="https://ambcrypto.com/?s=ftx">FTX</a>. Unfortunately, insolvency attorneys have cautioned that it might take “decades.”
Unlike Binance, FTX Was Not Actively Soliciting Users — The Monetary Authority of Singapore
The Monetary Authority of Singapore has released a statement explaining why it had warned Binance, but not FTX, about its operations in the country and clarifying several misconceptions in the wake of the FTX collapse and bankruptcy filing.
Former SEC Chair: FTX On Path To Stability With This Recent Decision
While the crypto market struggles to recover from the shock collapse of FTX, there are finally some positive signals coming out. The troubled crypto exchange entered into chapter 11 bankruptcy proceedings after it struggled to cope with the liquidity crisis. Along with the bankruptcy announcement, FTX also replaced <a href="https://coingape.com/tag/sam-bankman-fried/">Sam Bankman-Fried</a> with John Ray as the new CEO. Whether Ray finds enough support to turn the fortunes around for the company remains to be seen.
