Jump Crypto Says It Remains ‘Well Capitalized’ Following FTX Downfall
On Saturday afternoon, Jump Crypto <a href="https://twitter.com/jump_/status/1591545851603988481?s=20&t=chTURKdTntuNR-0xw0GjZw">tweeted,</a> "We, like all of you, were shocked by the events that unfolded over the past week. Jump's exposure to FTX was managed in accordance with our risk framework and we remain well capitalized.”
Jump Trading operates one of the largest high-frequency trading operations in the world; its crypto arm Jump Crypto focuses on infrastructure and crypto venture investments.
FTX’s Bankruptcy Marks the Fall of Sam Bankman-Fried, Previously Seen as a Cryptocurrency Prodigy
Young mathematical prodigy with a degree from MIT, Sam Bankman-Fried is once again plunging the cryptocurrency world into turmoil.
DeFi Developers Rushing to Create a New Version of Alameda-Controlled Serum DEX
Sam Bankman-Fried once called Project Serum, an on-chain crypto exchange that he created, the <a href="https://twitter.com/SBF_FTX/status/1287661236599971843?s=20&t=_DZpWIXgOWxmdlMEUL7Jgg">“truly, fully trustless</a>” backbone of decentralized finance (DeFi) on the Solana blockchain.
How Ukraine Lost Over $100 Million Cryptocurrency Donations On FTX
Analysts estimate that Ukraine lost more than $100 million with FTX’s bankruptcy.
Sam Bankman-Fried Is ‘Under Supervision’ in Bahamas, Looking to Flee to Dubai
“Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas. Which means it will be hard for them to leave,” a source familiar with the matter told Cointelegraph. The source said they also understand that the three, as well as Alameda Research CEO Caroline Ellison, are looking for ways to flee to Dubai, which doesn’t have any extradition treaty. The source has also revealed that Ellison is currently in Hong Kong, “so she might be able to get to Dubai.”
Exchanges and Investors: How to Cope With the Lehman Moment?
The FTX incident is commensurate to the “Lehman Moment” of the traditional financial world.
Crypto Community Members Think SBF Was a ‘Patsy’ Due to Extensive Political Connections
The issues associated with FTX and Alameda have caused a number of cryptocurrency proponents to ask why regulators like the U.S. Securities and Exchange Commission (SEC) did not catch FTX before it collapsed. Congressman Tom Emmer <a href="https://twitter.com/RepTomEmmer/status/1590717374801809409?s=20&t=7j_uxKTMYhAIBqpiPmcpvQ">tweeted</a> about allegations concerning the SEC chairman helping FTX obtain a regulatory monopoly. The LBRY Twitter account, operated by the blockchain project that lost a court case with the SEC, discussed the regulator’s harsh <a href="https://news.bitcoin.com/new-hampshire-court-sides-with-sec-in-lawsuit-against-lbry-projects-team-says-loss-sets-a-dangerous-precedent/">enforcement</a> against LBRY, compared to the <a href="https://twitter.com/mdudas/status/1591175007576928256">treatment</a> FTX <a href="https://news.bitcoin.com/sec-chair-gensler-discusses-crypto-regulation-following-ftx-collapse-says-this-field-is-significantly-non-compliant/">had seen</a>.
Flight Radar Report Shows FTX Founder SBF’s Private Jet Flew to Argentina, SBF Denied
According to Flightradar24’s official Twitter account, the most tracked flight at 3:33 a.m. on Nov. 12, 2022, was Sam Bankman-Fried’s (SBF) private jet flying from the Bahamas to Argentina. While the flight track doesn’t mean SBF took the flight, a number of people suspected someone from SBF’s inner circle did fly out of the Bahamas. The former FTX CEO, however, texted Reuters after the flight and told the news outlet he did not leave the Bahamas.
Hedge Fund Galois Capital Discloses 'Roughly Half' of the Firm's Capital 'Stuck on FTX'
According to the co-founder of Galois Capital, the hedge fund manager who warned about the Terra collapse before it happened, half of the hedge fund’s capital is left trapped on FTX. Galois co-founder, Kevin Zhou, wrote a letter to investors explaining the situation and said he was “deeply sorry” about the turn of events.
CZ Vows to Be ‘More Vocal’ About Competition Following FTX Collapse
Binance CEO Changpeng Zhao says he will be loosening up his "policy to not comment on competitors (we call industry peers) publicly" following the collapse of FTX.
