Investors Are Pulling Funds Out of Major Crypto Exchanges, Says JP Morgan
In a note to investors Wednesday, analysts at the investment bank noted that all major exchanges experienced outflows last week but Gemini, OKX and Crypto.com had the most “severe” draining of funds. Analysts also said that the stablecoin market is getting smaller—and this may continue to hurt the price of other major cryptocurrencies like Bitcoin.
UK Lawmakers Said Binance's Evidence on FTX Collapse Wasn't Sufficient
The U.K.’s Parliamentary Treasury Committee asked crypto exchange Binance for internal correspondence on the collapse of FTX earlier this week. But Binance, the world’s biggest digital asset exchange, just sent back news articles in response, according to a Thursday <i>Bloomberg </i>television interview with Treasury Committee member Alison Thewliss.
US Senators Demands Sam Bankman-Fried and FTX Turn Over Trove of Records
Senators Elizabeth Warren (D-Mass.) and Dick Durbin (D-Ill.) <a href="https://www.warren.senate.gov/imo/media/doc/2022.11.16%20Letter%20to%20SBF%20&%20FTX.pdf">sent a letter </a>on Wednesday to both the Bahamas-based exchange’s former CEO, Sam Bankman-Fried, and its current CEO, former Enron clean-up man John Jay Ray III, who replaced Bankman-Fried after FTX and its 130-odd subsidiaries declared bankruptcy on November 11, asking for more information about what precipitated the exchange’s collapse.
FTX Hacker Swaps 29.7k BNB; Becomes 31st Largest Eth Holder
FTX hacker swaps 29.7k BNB, after FTX, a cryptocurrency exchange faces a massive hit of a $600 million hack on Friday. Amid the ongoing liquidity crisis as per today’s report, the FTX hacker becomes the 31st largest Eth holder.
FTX Bankruptcy Filings Highlight ‘Complete Failure of Corporate Controls’
The new CEO of FTX called out Sam Bankman-Fried and the rest of the failed crypto exchange's leadership for a "complete failure of corporate controls" in a bankruptcy court filing.
The filing stated:
"In terms of the celebrity of Mr. Bankman-Fried, his unconventional leadership style, his incessant and disruptive tweeting since the Petition Date, and the almost complete lack of dependable corporate records, these Chapter 11 Cases are unprecedented."
This is a developing story.
Binance CEO CZ: Faulty FTX Data During Takeover Discussions
Binance CEO CZ Latest Comments: CZ said in an interview with CNBC that data provided by FTX seemed unreliable.
Tom Brady and Larry David Face Class Action For Endorsing FTX, Suit Alleges They Backed ‘Unregistered Securities’
FTX investors have filed a class action lawsuit against the founder and former CEO of the collapsed cryptocurrency exchange, as well as several celebrities who promoted the platform.
Nigerian Web3 Startup Says Funds Are Stuck With FTX, Lays Off Employees
Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to the startup’s CEO, laying off some employees allows the company to focus on building a more decentralized crypto future.
Australia Suspends Financial Services License of Local FTX Entity
Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May.
FTX Crash: SBF To Testify in Front of GOP House? Here’s What Sources Reveal
The digital asset market collapse triggered by the debacle of FTX, the crypto exchange has reached the U.S. House of Representatives. Reports suggest that the group of representatives is planning to launch a hearing of Sam Bankman-Fried (SBF) over the FTX crash.
