Genesis Trading Reveals $175M of Funds Are Locked in FTX
Genesis Trading is the latest firm to declare exposure to FTX.
FTX’s Assets Frozen by Bahamas Securities Regulator
Authorities in the Bahamas, where FTX.com is based, said they froze the assets of its local trading subsidiary and “related parties” as more signs emerged that crypto mogul Sam Bankman-Fried’s empire is teetering.
Crypto Lender BlockFi Pauses Withdrawals in Wake of FTX Collapse
Crypto lender BlockFi said it could not conduct business as normal and would be limiting activity in the wake of FTX's collapse. The company said in a tweet that the "lack of clarity" around FTX's current situation meant it would pause client withdrawals. It also told clients not to deposit to its wallet or interest accounts.
FTX Digital Markets Assets Frozen in the Bahamas
JUST IN: The Securities Commission of The Bahamas has frozen the assets of FTX Digital Markets and related parties.
FTX’s Bankman-Fried Quietly Invested More Than $500 Million in Sequoia and Other VCs
Bankman-Fried’s trading firm, Alameda Research, which had close ties with his crypto exchange FTX and which shut down this week, invested at least $20 million in Paradigm last year, according to two people with direct knowledge of the matter.
California Financial Regulator Announces FTX Investigation
California's Department of Financial Protection and Innovation announced it was investigating FTX late Thursday. The regulator did not provide much detail in a press release, only saying it was "investigating the apparent failure of crypto asset platform FTX." A spokesperson declined to comment further.
FTX US Employees Attempt to Sell Assets in CEO Bankman-Fried’s Absence
Employees working for the U.S. arm of FTX's cryptocurrency exchange business are trying to sell company assets, in some cases without CEO Sam Bankman-Fried's “participation,” according to Bloomberg News, which cited two people familiar with the matter.
Bankman-Fried Sold FTX Equity to Employees at 50% Discount in Spring
FTX CEO Sam Bankman-Fried sold equity in the firm at a 50% discount to employees in the spring, a person familiar with the matter told The Block.
In June, about 20 people were fired off across the organization due to performance, the person said. Separately, the head of institutional sales, Zane Tackett, appears to have been terminated on Nov. 10, according to a posting on his Twitter account. The firm declined to comment.
After Rattling Confidence in FTX, Binance Still Holds 5% Of FTT Supply
The wallet that Binance’s FTX tokens were transferred into still has 17 million FTT, worth approximately <a href="https://etherscan.io/token/0x50d1c9771902476076ecfc8b2a83ad6b9355a4c9?a=0x28c6c06298d514db089934071355e5743bf21d60" target="_blank">$65 million</a> at the time of writing, according to Etherscan. Binance’s position represents a 5% stake in the total FTT supply.
Latest Developments Following the FTX Collapse
Deep dive into the latest developments of the FTX collapse, by analysing all the verifiable information, and related events that have come out since the initial collapse.
