FTX Advisors Finds $740 Million of Crypto in FTX Cold Wallet
FTX advisors are working to find the company's cash and cryptocurrency and have found about $740 million of crypto in its cold wallet.
Bahamas Regulator Says It Assumed Control of Digital Assets of FTX
Bahamas has ordered all digital assets of FTX Digital Markets Ltd (FDM) transferred to a digital wallet controlled by the Commission for safekeeping.
Alameda Had 'Secret Exemption' From FTX Liquidation Protocols, New CEO Says
John J. Ray III, the new CEO of FTX, cited “the secret exemption of Alameda from certain aspects of <a href="http://ftx.com/" target="_blank">FTX.com</a>’s auto-liquidation protocol” among a list of poor security and financial controls that have been uncovered since he took control of the company in the early hours of Nov. 11, shortly before it filed for bankruptcy in a U.S. court.
Nansen Blockchain Analysis: FTX Catastrophe Likely Triggered by Terra Collapse
With the collapse of Terra/UST in May, a liquidity crunch ensued as many creditors started to call back loans following the 3AC and Celsius crashes. Alameda would have needed liquidity from a source that would still be willing to give out a loan against their existing collateral
Sam Bankman-Fried Switches Legal Counsel as Investigations Into FTX Collapse Mount
Former FTX CEO Sam Bankman-Fried will no longer be represented by his legal counsel at Paul, Weiss, Rifkind, Wharton & Garrison, a white-shoe law firm, less than a week after retaining the firm to represent him.
Elon Musk: FTX's Meltdown Is Better on Twitter Than Old-School Media
Elon Musk believes that the coverage of the FTX saga on Twitter is faster and better than what is being reported by the ‘old-school’ media.
FTX Collapse Leaves Total Crypto Market Cap Under $800B, Close to 2022 Low
With investor confidence in cryptocurrencies ebbing as a result of the collapse of Sam Bankman-Fried’s FTX exchange, the total market capitalization of digital assets has fallen this month below $800 billion, a level not seen since early 2021, according to data from TradingView.
The Winners and Losers in a Post-FTX World
Once crypto survives this scandal, the overall winner will be a healthier foundation on which we can build upon, minus the excess leverage and fraudulent actors.
Bahamas Government May Have Directed 'Unauthorized' FTX Transactions, New Bankruptcy Filing Says
Bankrupt crypto exchange FTX is accusing the government of the Bahamas of directing unauthorized access to FTX systems for the purpose of withdrawing assets after the company filed for Chapter 11 bankruptcy in the U.S., court filings from Thursday show.
Crypto Lender Nexo Reportedly Offered to Buy BlockFi for $850M in July
Crypto lender Nexo had offered BlockFi a deal worth a total of around $850 million, Nexo co-founder Antoni Trenchev said. It included $30 million for the acquisition of 51% of BlockFi through a combination of cash and equity, $30 million payable to BlockFi's existing shareholders upon successful S1 registration of BlockFi's yield product with the U.S. Securities and Exchange Commission and a $500 million credit line to address BlockFi's liquidity needs, according to the investment proposal document.
