Nickel Digital Has Around $12 Million Stuck on Hobbled Crypto Exchange FTX
Crypto investment firm Nickel Digital Asset Management has around $12 million of its funds' capital stuck on FTX after the exchange halted client withdrawals and filed for bankruptcy protection.
Bitstamp Follows Other Exchanges in Canceling Orders for FTX and Celsius Tokens
Bitstamp is set to disable new orders and cancel existing orders for all FTT and CEL trading pairs, it <a href="https://www.bitstamp.net/faq/trading-of-ftt-and-cel-halted/" target="_blank">announced</a> on Friday.
Ontario Teachers' Pension Plan to Write Down $95 Million FTX Investment to Zero
The Ontario Teachers' Pension Plan (OTPP), one of the most important pension funds in the world, will write down all of its $95 million investment in FTX and FTX US.
Digital Banking Firm Revolut Distances Itself From FTX While Pushing for Crypto
Digital banking firm, Revolut is the latest one to distance itself from FTX. In an emailed statement, Revolut told users that it did not have “material exposure” to the bankrupt crypto exchange and it is still monitoring the situation while reminding the volatility associated with digital assets.
Solana Loses $1 Billion in USDT to Ethereum Due to FTX Collapse
The Solana Foundation, a non-profit organization that supports the development of the Solana blockchain, also acknowledged having $1 million in cash or other equivalent assets that were trapped on FTX.
Singapore's Deputy Prime Minister Reiterates Decision to Restrict Crypto Speculation and Trading
Lawrence Wong, the Deputy Prime Minister of Singapore and Minister of Finance, has taken cognizance of the turmoil caused by FTX’s fraudulent business activities. He said, “And we’ve said this for a long time, even when people criticized us for saying that, which was that we need to take a strong stance against crypto speculation and trading, especially by retail investors.”
Sam Bankman-Fried Cashed Out $300 Million of FTX’s 2021 Funding Round
Former FTX CEO Sam Bankman-Fried personally received $300 million from a $420 million funding round for the company in October 2021, according to a <a href="https://www.wsj.com/articles/ftxs-sam-bankman-fried-cashed-out-300-million-during-funding-spree-11668799774?mod=hp_lead_pos4" target="_blank">Wall Street Journal report</a> that cited FTX financial records it had reviewed, as well as people familiar with the transaction. The arrangement was previously undisclosed, with Bankman-Fried telling investors at the time it was partially to reimburse him for money he’d spent to buy out Binance’s stake in FTX a few months earlier, the Journal reported.
Alameda Just Transfered $17 Million in Crypto to Trading Platform FalconX
A wallet belonging to Alameda Research, the quantitative trading desk of now-bankrupt FTX Group, sent $17 million worth of USDC to institutional crypto trading platform FalconX on Friday afternoon. First, a wallet labeled as <a href="https://etherscan.io/tokenholdings?a=0xe31a9498a22493ab922bc0eb240313a46525ee0a" target="_blank">Alameda Counterparty: 0xe31</a> by blockchain analytics firm Nansen sent $17 million USD Coin (USDC) to an Alameda Research wallet, <a href="https://etherscan.io/tokenholdings?a=0x60009b78da046ac64ef789c29ca05b79cdf73c10" target="_blank">0x600</a>, around noon Eastern Time on Friday. Within two minutes, the USDC was sent to a wallet that Nansen has labeled as <a href="https://etherscan.io/tokenholdings?a=0x1157a2076b9bb22a85cc2c162f20fab3898f4101" target="_blank">Falconx: 0x115</a>.
High-up FTX Executives Injected $57 Million Into Democrat Coffers, $22 Million Went to Republican Candidates
During the most recent election cycle leading up to the U.S. midterms in 2022, reports claim that Sam Bankman-Fried donated more than $40 million to Democrats via super PACs and direct contributions. Furthermore, reports also claim that FTX Digital Markets’ co-chief executive officer Ryan Salame gave $22 million to Republicans.
Taiwan’s Top Three Exchanges’ Operations Unaffected Amid FTX Fallout
Taiwan-based exchanges MaiCoin, BitoEX and ACE said in a joint statement on Friday that they will soon present proof of assets verified by third-party institutions, and will help to arrange meetings of affected FTX users in Taiwan to discuss how to best proceed.
