Browsing:FTT

FTT token dropped by over 40% on the day and is now trading at $1.8.
3 months ago 1 min read

FTX’s FTT token falls by over 40% as the exchange relaunch denied

FTX exchange of Sam Bankman-Fried has pledged to fully reimburse customers and creditors affected by its current bankruptcy proceedings. The company assured the overseeing judge that affected individuals, if they could prove their losses, would receive their entire investment. However, the promise of complete asset recovery is not without caveats. The reimbursement values are linked to the official declaration of bankruptcy by FTX, which occurred during a period of turbulent market conditions. This condition has been approved by US Bankruptcy Judge John Dorsey, emphasizing the situation’s complexities. There’s no indication of an FTX 2.0 on the horizon. Andrew Dietderich, a

Judge denied former FTX CEO Sam Bankman-Fried a sentencing delay on Wednesday
4 months ago 1 min read

Former FTX CEO Sam Bankman-Fried Denied Sentencing Delay and Faces Up to 110 Years in Prison

Judge Lewis Kaplan denied former FTX CEO Sam Bankman-Fried a sentencing delay on Wednesday, adding to the legal saga surrounding him. Bankman-Fried’s legal team had asked for more time to prepare for his sentencing and possibly another trial. However, his request for an extension was denied, paving the way for his sentencing on March 28. The ex-CEO faces a sentence of up to 110 years in prison. The defense team requested more time to gather materials and prepare for possible additional charges. These previously dropped charges allege that Bankman-Fried provided around $100 million to politicians. Despite the possibility of extradition

$23.59 million in crypto was transferred from wallets associated with the now-defunct FTX and Alameda Research to major crypto exchanges.
5 months ago 1 min read

Nearly $23.59 million was transferred across 19 different tokens via the FTX-affiliated wallets

Over four days, $23.59 million in crypto was transferred from wallets associated with the now-defunct FTX and Alameda Research to major crypto exchanges. The transactions, which were tracked by blockchain analytics firm Spot On Chain, revealed significant movements from insolvent organizations totaling $591 million in 59 different tokens since October 24. FTX-affiliated wallets distributed nearly $23.59 million in 19 different tokens alone. These assets were distributed to prominent exchanges such as Binance, Coinbase, OKX, and Galaxy Digital OTC, demonstrating an active effort to manage and distribute assets during a volatile market period. A total of $6.07 million in assets was

FTT Token Experiences 72% Rally as SEC Chair Discusses Potential FTX Comeback
6 months ago 1 min read

FTT Token Experiences 72% Rally Following SEC Chair’s Supportive Statement on FTX

FTT, the native token of the bankrupt FTX crypto exchange, experienced a remarkable surge of over 72% in response to comments from SEC Chair Gary Gensler hinting at the potential revival of the exchange, albeit within legal boundaries. Gensler’s statements followed speculation about three potential buyers eyeing FTX, including Bullish, a crypto exchange backed by former NYSE president Tom Farley. While none of the potential buyers have expressed interest in reviving FTT, several companies are actively competing for the opportunity to take control of FTX. The FTT token played a pivotal role in FTX’s downfall in November of the previous

Ren Protocol has announced that it will be moving all of its crypto assets to FTX debtors' wallets
1 year ago 1 min read

Ren Protocol to Transfer Crypto Assets to FTX Debtors’ Wallets in Shutdown Contingency Plan

Cross-chain bridge platform Ren Protocol has announced that it will be moving all of its crypto assets to FTX debtors’ wallets. This move was authorized and directed by FTX, Alameda Research, and other affiliates who acquired Ren Protocol in 2022. The decision to transfer assets to FTX debtors’ wallets was made to ensure that debtors can safeguard their assets in the event of a potential shutdown of Ren Protocol’s systems and infrastructure. Ren Protocol will also transfer the assets to a segregated wallet specific to its assets to separate the funds from other debtor wallets. Ren Protocol joined forces with

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