Browsing:FTX

Alameda Research
12 hours ago 1 min read

Bloomberg reports that Alameda invested $1.15 billion in Genesis Digital

Alameda Research, a trading firm affiliated with the troubled exchange FTX, has invested $1.15 billion in cryptocurrency miner Genesis Digital Assets. According to documents obtained by Bloomberg that identified FTX and Alameda’s venture portfolio, this was Alameda’s and FTX’s largest venture investment, valued at $5.5 billion in an April funding round. Alameda invested in the cryptocurrency miner four times. It invested around $100 million in the miner last August. It put in $550 million in January, $250 million in February, and $250 million in April. The crypto miner is unrelated to Genesis Trading, whose loan unit halted redemptions following FTX’s

Mike Novogratz
1 day ago 1 min read

Mike Novogratz: Bankman-Fried is ‘delusional,’ and he’s going to jail

The Galaxy Digital CEO claims Sam Bankman-Fried committed fraud and suggests they be imprisoned. Former FTX CEO Sam Bankman-Fried (SBF) has been chastised this week after a string of controversial public appearances, with Galaxy Digital’s Mike Novogratz the most recent to criticize the former crypto kingpin. On December 1, Galaxy Digital CEO Mike Novogratz launched a volley of criticism at SBF for his interview with Andrew Ross Sorkin at the New York Times annual DealBook Summit on November 30. Novogratz described SBF as “delusional” in an interview with Bloomberg after he stated in the live interview that he never attempted

SBF recent interview
3 days ago 2 mins read

SBF, Former FTX CEO believes FTT token is still “more legitimate” than most tokens

Citizen journalist Tiffany Fong published Sam Bankman-Fried’s first interview since FTX’s bankruptcy on YouTube on November 29. On November 16, the former CEO addressed a number of allegations leveled against him since the bankruptcy, as well as the state of FTX US clients. He also discussed FTT, the exchange’s native token, which he believes has more intrinsic value than most other cryptocurrencies. Wong started by questioning SBF about previous claims that the CEO tampered with the FTX’s financial records by using a “backdoor” that allowed him to execute commands without alerting others. Reuters repeated this claim several times in the

FTX blames binance CEO
3 days ago 2 mins read

SBF says FTX had a 50% chance if Binance’s CEO, Changpeng Zhao, had not expressed concerns

In recent interviews, Sam Bankman-Fried, the founder of the infamous crypto exchange FTX, has spilled quite a bit of tea. The man once known as the crypto mogul has revealed that he has lost almost all of his wealth. SBF told Axios that the last time he checked his bank account, it held $100,000. This represents a more than 99% drop in his net worth, which was once estimated to be more than $16 billion prior to the collapse of FTX. Furthermore, the former FTX CEO’s fortune peaked at nearly $26.5 billion at one point. This, however, came crashing down

BlockFi filed lawsuit against FTX
5 days ago 1 min read

BlockFi comes at SBF’s Robinhood shares with a lawsuit

Sam Bankman-Fried or SBF is alleged to have pledged Robinhood shares to the business as collateral in a lawsuit filed by crypto lender BlockFi, according to the Financial Times. Approximately 56.2 million shares, or 7.6%, of Robinhood Class A common stock were owned by Bankman-Fried, according to a filing with the Securities and Exchange Commission. Documents reveal that these Robinhood shares are now at the center of a lawsuit brought by BlockFi just hours after the lender requested bankruptcy protection in the same New Jersey court. SBF’s Emergent Fidelity Technologies and ED&F Man Capital Markets are named in the lawsuit

BlockFi and FTX
5 days ago 2 mins read

BlockFi declares bankruptcy following the demise of FTX

Following the demise of FTX, BlockFi has officially declared bankruptcy, following several days of speculation about the company’s financial health and liquidity issues. BlockFi and eight of its affiliates filed for Chapter 11 bankruptcy protection on November 28. According to a BlockFi press release, the company has $256.9 million in cash on hand, which will be enough to support certain operations during the restructuring process. BlockFi has over 100,000 creditors, with assets and liabilities ranging from $1 billion to $10 billion. Ankura Trust Company, LLC, is among the major creditors named in the petition. According to the petition, the company’s

FTX collapse
6 days ago 2 mins read

Bahamas has a ‘active’ civil and criminal investigation into FTX

The FTX investigation involves the Bahamas Securities Commission, the Prime Minister’s financial intelligence unit, and a financial crimes unit. The Bahamas Attorney General (AG) and Minister of Legal Affairs, Ryan Pinder, has confirmed that the Caribbean nation’s authorities are conducting a “active and ongoing” investigation into the defunct crypto exchange FTX. Pinder explained in a national statement delivered live on the Office of the Prime Minister’s Facebook page on Nov. 27 that the “affairs of FTX Digital Markets” are being investigated by both “civil and criminal authorities,” and that Bahamian authorities are working with “a number of specialists and experts

Binance is not a Chinese company
1 week ago 1 min read

“Binance is not a Chinese company, we are not related to China at all,” says CEO CZ

Chengpang Zhao (CZ), the CEO of Binance, the largest crypto exchange in the world, stole the show on November 24, 2022. Basically, since CZ made a bid to acquire Voyager, the bankrupt U.S.-based company that specializes in lending and financing for cryptocurrencies, he has been inundated with inquiries. Following up, FTX and Binance each made a bid to buy Voyager’s assets. In these terms, the FTX platform outperformed Binance U.S. and managed to secure the bid. All of this happened before the tragic event of the FTX platform’s failure and collapse. As a result, now that FTX is entirely out

CZ CEO Binance
1 week ago 1 min read

CEO of Binance, CZ claims he should have tweeted about FTX issues sooner

Changpeng Zhao or CZ, CEO of Binance, expressed regret for not sending an earlier tweet that led to the demise of the crypto exchange FTX. The CEO of the largest crypto exchange in the world made the statement during a live interview on Bloomberg TV on November 24. CZ said, “I actually reflect on the FTX situation and I kind of blame myself for tweeting that too late. As an industry, we let FTX get too big before we started questioning some of those things.” On November 8, Zhao tweeted that Binance would destroy every single FTT token—native FTX’s token—on

SBF FTX founder
1 week ago 1 min read

FTX founder SBF to attend New York Times Dealbook Summit despite bankruptcy

The founder of the now-defunct cryptocurrency exchange FTX, Sam Bankman-Fried, is scheduled to give a presentation at the New York Times DealBook Summit on November 30. On November 23, Bankman-Fried announced via Twitter that he will be speaking with New York Times reporter Andrew Sorkin “next Wednesday” at the DealBook Summit. And Sorkin made the news publicly official. According to a November 11 Gawker article, SBF’s previous speaker page title was “C.E.O., FTX.” Since FTX filed for bankruptcy, his title on the speaker page has been changed to “Founder, FTX,” reflecting his retirement from the position. The New York Times

FTX Hacker moved stolen crypto
2 weeks ago 1 min read

FTX hacker distributes nearly $200 million in ETH across 12 wallets

The hacker responsible for the theft of more than $447 million in cryptocurrency from the crypto exchange FTX has been spotted moving their looted funds once more. According to Etherscan data, between 4:11 and 4:17 p.m. UTC on November 21, the attacker transferred 180,000 ETH across 12 newly created wallets, each receiving 15,000 ETH. At current prices, the total amount moved was $199.3 million. The ETH had not moved from any of the 12 wallets at the time of publication. Some in the cryptocurrency community believe the attacker intends to subdivide it into smaller and smaller amounts to confuse investigators,

FTX hacker
2 weeks ago 1 min read

FTX hacker is reportedly moving funds in order to avoid authorities

According to Etherscan data, the alleged hacker responsible for the theft of hundreds of millions of dollars from the bankrupt cryptocurrency exchange FTX is moving the funds around to different wallets to avoid detection. FTX Accounts Drainer sent $16 million in 15,000 ETH to 12 new on-chain addresses on Monday night. More so, some crypto analysts noted that the attacker is attempting to divide the loot into smaller amounts in order to elude investigators through a process known as “peel chaining.” According to Chainalysis, the hacker may also intend to send his funds to a crypto mixer. Crypto mixers are