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Binance Forming Crypto Industry Recovery Fund to ‘Reduce Further Cascading Negative Effects of FTX’
14.11.2022
Cryptocurrency exchange Binance is forming an industry recovery fund to “reduce further cascading negative effects of FTX,” said CEO Changpeng Zhao (CZ). “As an industry, we need to increase transparency,” the executive stressed. “We need to work very closely with...
Binance CEO Likens FTX Fiasco to 2008 Financial Crisis — Warns of ‘Cascading Effects’
14.11.2022
Binance CEO Changpeng Zhao has compared the FTX collapse to the 2008 financial crisis. Warning of “cascading effects,” he stressed: “A lot of consumer confidence is shaken, and I think basically it sets us back a few years.” Binance’s CEO Discusses the Impact...
Crypto.com Sends $400 Million Worth of Ethereum to Wrong Address, Binance CEO Warns Users to Stay Away
13.11.2022
Cryptocurrency exchange Crypto.com mistakenly sent 320,000 ETH to a wallet address linked to Gate.io in late October. While the platform has since recovered the assets, Binance CEO Changpeng Zhao advised users that it is best they stay away from the platform. ...
Read More: Crypto.com Sends $400...
Vitalik Buterin calls out FTX for virtue signaling: 'deserves what its getting'
13.11.2022
While acknowledging the damage caused by FTX, Buterin believes that FTX CEO Sam Bankman-Fried, as a person, deserves love
Report Says Alameda Research ‘Didn’t Trade Crypto,’ Speculators Think SBF’s Political Connections Let FTX Fly Under the Radar
12.11.2022
On Nov. 11, 2022, FTX Trading Ltd. filed a voluntary petition for Chapter 11 bankruptcy protection in Delaware. The news followed a few days of speculation and evidence that had shown the digital currency exchange was likely insolvent. The company’s bankruptcy filing and information concerning...
Binance CEO CZ on FTX crash: “We’ve been set back a few years”
12.11.2022
With one of the biggest crypto businesses falling overnight after getting caught misappropriating user funds, CZ believed the episode was devastating for the industry, which took away a lot of consumer confidence
Crypto Biz: Crypto’s day of reckoning has arrived
11.11.2022
After lecturing us about crypto regulation, Sam Bankman-Fried's house of cards collapsed this week as FTX declared bankruptcy
FTX crisis feeds the Twitter rumor mill with hot takes and conspiracy theories
10.11.2022
Exciting times lead to exciting posts, many of which bring up valid questions, and maybe some less valuable answers
Reports Claim Beleaguered Crypto Exchange FTX Seeks Over $9 Billion From Investors
10.11.2022
On Nov. 10, 2022, two reports said that FTX CEO Sam Bankman-Fried (SBF) is canvassing for emergency funds up to $9.4 billion for the embattled exchange. One report says that SBF has solicited crypto companies like Tether, OKX, and Tron founder Justin Sun as well. FTX Is Reportedly Seeking Up...
Binance shares wallet addresses and activity after proof of reserve pledge
10.11.2022
Days after CZ took to Twitter to announce a new proof-of-reserve system for Binance users, the site went live with public details of its wallet addresses and on-chain activity
Crypto Price Crash Update: Why Did FTX Fall? – Here’s What We Know Now
10.11.2022
Earlier this week, speculations around the liquidity crunch at FTX sent shock waves across the entire crypto industry.
The news that Binance could potentially purchase FTX slightly saved the day, but when the exchange backed out of the deal yesterday, cryptocurrency prices went into a free...
Galaxy Digital Reveals Update on Ties to FTX, Partnership Has ‘Exposure of Approximately $76.8 Million’
10.11.2022
Following the issues surrounding FTX, the publicly-listed firm Galaxy Digital published its third-quarter earnings report and noted it has an “exposure of approximately $76.8 million of cash and digital assets to FTX.” The news follows a great number of exchange executives announcing that they...
Binance CEO Explains Situation With FTX — Says ‘We Did Not Master Plan This’
9.11.2022
Binance CEO Changpeng Zhao (CZ) has shared where his company is at on the deal with FTX. “We did not master plan this or anything related to it,” he told the Binance team, reminding them not to trade the FTX token (FTT) as the due diligence for the acquisition is still ongoing....
Elephant in the Room: FTX Troubles Force Exchange Executives to Talk About Proof-of-Reserves
9.11.2022
On Nov. 9, 2022, a day after the news broke regarding Binance planning to purchase the exchange FTX, the crypto economy dropped 11.17% in 24 hours. The crypto economy has slid under $900 billion for the first time since January 2021. The Binance and FTX news has come as a shock to a lot of […]
Binance to Provide Proof-of-Reserves Following FTX Bust – Other Exchanges to Follow Suit?
9.11.2022
Major crypto exchange Binance will follow Gate.io 's and Kraken's example and start doing Proof-of-Reserve (PoR) audits, said CEO Changpeng Zhao.
Zhao, known as CZ, tweeted on Tuesday evening (UTC time) that Binance would "soon" start to do proof-of-reserves, arguing that:
"All crypto exchanges...
Binance tops up SAFU fund at $1 billion amid price fluctuations
9.11.2022
Binance CEO CZ took to Twitter to assure users that the crypto exchange's insurance funds have been topped off at $1 billion as the debacle with FTX rages on
Crypto Prices Crash as FTX Crypto Exchange Collapses – What We Know So Far
9.11.2022
The price of almost all major cryptocurrencies crashed today after it was announced that major crypto exchange FTX will be acquired by rival Binance in a strange turn of events.
The world's largest cryptocurrency has lost more than 8% over the past 24 hours, currently trading around the $18,000...
FTX-Binance standoff highlights the need for clear rules, says Sen. Lummis
9.11.2022
Market manipulation, lending activity, and safeguarding of customer funds and assets are some of the many issues Senator Lummis plans to address in the coming days
Report: FTX CEO Told Staff Crypto Exchange ‘Effectively Paused’ Withdrawals
8.11.2022
According to a report shared by an FTX staff member, prior to Binance announcing it would acquire the exchange, CEO Sam Bankman-Fried explained that in 72 hours FTX saw roughly $6 billion in withdrawals. Furthermore, the staff member’s account notes that withdrawals on the exchange FTX.com...
Binance's FTX acquisition seen as chess move by crypto community
8.11.2022
Binance's decision to liquidate 23 million FTT tokens triggered FTX's liquidity crisis