FTX's Collapse Triggers Dramatic Shift Towards Self-Custody for Bitcoin and Ethereum
The most notable outcome of the FTX fallout has been the mass withdrawals of BTC and ETH from crypto exchanges into self-custody wallets as the debate on the dependability of centralization fires up.
Most of FTX Subsidiaires Are Solvent, Claims FTX New CEO
FTX CEO Mr. John J. Ray, III <a rel="nofollow" href="https://twitter.com/ReutersUS/status/1593929646453800960">releases</a> a strategic review report on their global assets. <a href="https://coingape.com/tag/ftx-crypto-exchange/">FTX</a> CEO expressed his joy and highlighted most of FTX’s regulated or licensed subsidiaries both inside and outside of the US, have solvent balance sheets, responsible management, and valuable franchises. He also mentioned two of the FTX subsidiaries company naming LedgerX LLC and Embed Clearing LLC are not debtors in chapter 11 cases.
What’s Going On With Silvergate, the Bank That Props Up the U.S. Crypto Market?
Earlier this week, cryptocurrency bank Silvergate announced that its exposure to FTX was limited to its deposits. The U.S. bank, which services the majority of the crypto industry in the country, said that it had no loans or investments in FTX.
SBF Cashed Out $300M Following $420M FTX Fundraiser in 2021: Report
A new report by the Wall Street Journal claimed that the disgraced founder and former CEO of FTX took over 70% of the funds gathered from a funding round in October last year.
Crypto Exchange FTX Fires 3 Top Executives, Report Reveals
Three high-ranking executives of failed cryptocurrency exchange FTX have reportedly been dismissed. Among them is one of the co-founders of what was one of the industry’s largest trading platforms, which is currently in bankruptcy proceedings in the U.S. court system.
FTX Launches Asset Review; Here’s How Remaining Holdings Stands
The collapsed cryptocurrency exchange FTX and about 100 affiliated companies on Saturday launched a strategic review of global assets. It is a part of the Chapter 11 bankruptcy process. However, the firm will also be preparing for the sale or reorganization of some of the related assets and businesses.
‘The Wolf of Wall Street’ J. Belfort Labels FTX a ‘Frat House’, Says Collapse Was Premeditated
Former stockbroker, commonly known as the “Wolf of Wall Street,” Jordan Belfort, has shared his opinion on the collapse of the FTX crypto exchange and the role played by its founder Sam Bankman-Fried.
World’s Largest Publicly-Traded Hedge Funds Bet Big on Crypto Despite Recent FTX Turmoil
The recent FTX collapse wiped nearly $200 billion from the crypto markets. The total market cap was over $1 trillion at the beginning of this month, but it now stands at around $800 billion, according to data from CoinMarketCap. Man Group to start a cryptocurrency hedge fund despite such volatility and regulatory concerns.
FTX Begins Reviewing Its Assets as Part of Bankruptcy Process
FTX has begun a review of its global assets as part of the crypto exchange’s Chapter 11 bankruptcy protection proceedings with New York-based financial services firm Perella Weinberg Partners L.P. (PWP) engaged as its lead investment bank.
This Crypto Venture Capital Loses Almost $1B On FTX, When Will This FTX Fiasco End?
In the new development, a crypto venture company, Multicoin Capital, has disclosed its exposure to FTX. On Thursday, the firm reported how the fund plummeted by a whopping 55% over last month. It revealed to its investors that the drop in performance was due to the collapse of FTX.
