Sam Bankman-Fried Claims FTX US Had Enough Funds to Pay All Customers
Bankman-Fried's seemingly incoherent Twitter-stream-of-consciousness thread continued to unfold on Tuesday, most recently with the claim that, “FTX US had enough to repay all customers,” a statement he simultaneously undercuts with the caveats that his memory might be faulty and that "not everyone necessarily agrees.”
FTX Fallout Adds Urgency to South Korea’s Push for Crypto Regulations
Regulators stressed the need to have a regulatory framework in place during a meeting of South Korea’s National Assembly, given the failure of multi-billion dollar cryptocurrency exchange FTX.
Crypto Could 'Crash' the Financial System, US Lawmaker Warns
Senate Banking Committee Chair Sherrod Brown, D-Ohio, is sounding the alarm on crypto following FTX's collapse. “This year we’ve seen cryptocurrency values collapse by $2 trillion. 2,000 billion dollars,” Brown said at the opening of a hearing with top U.S. banking regulators. "The parallels to past financial crises throughout our history are troubling.”
Bahamas Supreme Court Approves 'Provisional Liquidators' for FTX
According to an announcement from the Bahamas' Securities Commission, the country’s supreme court <a href="https://www.scb.gov.bs/wp-content/uploads/2022/11/Securities-Commission-Update-on-FTX-14Nov22.pdf" target="_blank">approved</a> the appointments of PricewaterhouseCoopers advisory partner Kevin Cambridge and partner Peter Greaves to act as “joint provisional liquidators” for FTX. The securities regulator also applied to have Brian Simms, a senior partner of Bahamas-based commercial law firm Lennox Patton, as a provision liquidator on Nov. 10.
UK Treasury Committee to Probe Binance's Role in FTX Collapse
The U.K. Parliament’s Treasury Committee questioned why Binance revealed it was selling $500 million worth of FTT tokens on Nov. 6, and whether the exchange knew it could trigger FTX’s collapse during a cryptoasset inquiry.
Crypto.com CEO Says They've Never Used CRO the Way FTX Handled FTT
<i>“We’ve never utilized it in the way that FTX did – we never used it as collateral for any loans or anything. We run a very simple business. We are a regulated business – we’ve got licenses in all major jurisdictions,” </i>Kris commented.
Bahamas Approves Provisional Liquidators for FTX Assets
The Supreme Court of the Bahamas approved provisional liquidators to oversee FTX Digital Markets Ltd.'s assets, according to the Securities Commission of the Bahamas.
Exchanges delist FTX Token pairs from trading platforms
Binance, BitMEX and KuCoin have delisted FTX Token pairs from their crypto exchange platforms.
FTX hacker becomes 35th largest Ethereum holder
The address associated with the FTX hack swapped US$48.2 million worth of DAI stablecoins to 37,570 Ether on Tuesday, and became the 35th largest holder of the world’s second-largest cryptocurrency by market capitalization, blockchain security firm PeckShield reported on Twitter, citing Etherscan data.
VC Bull Kevin O’Leary Abandoned FTX Rescue Plans After SEC Chief’s Comments
After the widely publicized collapse of FTX, which sent shockwaves across the cryptocurrency sector, including Bitcoin (BTC), and culminated in the trading platform’s bankruptcy, venture capitalist Kevin O’Leary revealed he earlier had plans to save the crypto exchange but gave up at the last moment.
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