Troubled Crypto Lender Vauld Has $10 Million Stuck on FTX
Troubled Asian crypto lender Vauld has funds stuck in the now-bankrupt crypto exchange FTX. The exposure is worth around $10 million, one of the sources said. Vauld used FTX, among other exchanges, to execute trades of its customers since it does not have its own order book, said the source.
FTX Affiliate Alameda Research Loaned $4.1B to Related Parties – Including $1B to Sam Bankman-Fried
Alameda Research, the venture capital and trading firm sister of collapsed crypto exchange FTX, made $4.1 billion in loans to related parties, including $1 billion for former CEO Sam Bankman-Fried, according to bankruptcy filings made on Thursday.
Uruguayan Payments Unicorn DLocal Reports $5.6 Million Stuck in FTX
Uruguayan payments unicorn DLocal has $5.6 million tied up on FTX, the company said in a filing.
Jump Crypto Denies Rumors That It Intends to Wind Down Due to FTX Losses
According to a tweet shared by the company on Nov 17, “Jump Crypto is not shutting down. We believe we're one of the most well-capitalized and liquid firms in crypto”, adding that, they were still in the business of “investing and trading.”
Several Former US Regulators May Face Scrutiny Over FTX Links
Several former U.S. regulators, including commissioners of the Commodity Futures Trading Commission (CFTC), later took roles within FTX, leading to suspicion of impropriety.
Binance Says It Cannot Provide More FTX Details Because of Talks With Regulators
Authorities in multiple jurisdictions are questioning Binance over the international crypto exchange's role in the downfall of FTX. The inquiries come on top of ongoing investigations into FTX itself by U.S. law enforcement and regulators. Binance's acknowledgment of the inquiries comes in response to criticism from UK MPs over an alleged lack of information provided to a parliamentary committee on that exact topic.
UC Berkeley Suspends Stadium Naming Rights Deal With FTX
The University of California Berkeley has suspended its stadium naming rights deal with FTX. The deal was originally planned for 10 years and lasted just 450 days. The sponsorship was inked in <a href="https://www.coindesk.com/business/2021/08/23/ftx-signs-175m-deal-to-sponsor-uc-berkeley-athletic-department/">Aug. 2021</a> for $17.5 million and was paid entirely in cryptocurrency, and was the exchange’s first partnership in the world of college athletics.
FTX Isn't Sure How Much Money It Has or How Many People It Employs, Says New CEO
FTX doesn’t know exactly how much cash it has and still hasn’t produced a complete list of employees, according to a 30-page affidavit from FTX Group CEO John J. Ray on Thursday morning. But Ray has been able to estimate that the now-bankrupt FTX Group, which includes FTX.com, trading desk Alameda Research, and FTX US, has roughly $564 million worth of cash.
Indonesian Authority Orders Crypto Exchanges to Discontinue FTX Token Trading
Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) has instructed digital asset exchanges in the country to stop trading the FTX token, also known by its ticker <a href="https://coinmarketcap.com/currencies/ftx-token/" target="_blank">FTT</a>. According to a statement cited by Reuters, the order is in force since Monday, Nov. 14.
New CEO Says FTX Had 'Complete Failure of Corporate Control' Under Bankman-Fried
John
Ray III, the new Chief Executive Officer of troubled cryptocurrency exchange,
FTX, has described the running of the FTX Group under Sam Bankman-Fried, Co-Founder
and former CEO, as “a complete failure of corporate controls.” Ray III also described the business environment under Bankman-Fried as "unprecedented.”
