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US Lawmaker: FTX Collapse Isn’t a Crypto Failure — It’s a Failure of SEC, Bankman-Fried, Centralized Finance
24.11.2022
U.S. Congressman Tom Emmer says the FTX meltdown is not a crypto failure but a failure with SEC Chairman Gary Gensler, former FTX CEO Sam Bankman-Fried, and centralized finance. “We need to get to the bottom of this. We need to understand why Gary Gensler and the SEC were not doing their...
Kraken’s Jesse Powell Takes Aim at Newly Launched Proof-of-Reserve Lists, POR Audit ‘Requires Cryptographic Proof’
23.11.2022
On Tuesday, amid the many conversations concerning crypto exchange proof-of-reserves, Kraken executive Jesse Powell shared a screenshot of coinmarketcap.com’s newly launched proof-of-reserves (POR) dashboard. Powell said he planned to be “more assertive with calling out problems,” and he stressed...
Onchain Research Shows FTX’s Falling BTC, ETH, Stablecoin Balances ‘Suggest Cracks Had Formed as Far Back as June’
22.11.2022
While the analytics firm Nansen published a report that points to the Terra collapse igniting the flames of FTX’s and Alameda Research’s financial problems, onchain data from the intelligence and research firm Glassnode suggests FTX’s “cracks had formed as far back...
FTX Co-Founder Sam Bankman-Fried Faces US Extradition, Bankruptcy Court Says Top Execs Won’t Be Compensated
22.11.2022
According to a report citing three people familiar with the matter, the former FTX CEO Sam Bankman-Fried (SBF) may be extradited to the United States for questioning. After it was alleged that SBF transferred $10 billion in customer funds to Alameda Research, the company’s financials show between...
South Korea, Singapore, Japan Top Countries Most Impacted by FTX Collapse: Report
22.11.2022
A new analysis shows that the countries most impacted by the collapse of cryptocurrency exchange FTX are South Korea, Singapore, and Japan. Moreover, Russia, Germany, Turkey, Taiwan, India, Egypt, and Brazil also made the top 10 list of countries most affected by the FTX meltdown. Countries Most...
BTC Has Died 466 Times — 2 More Death Calls Added to the Bitcoin Obituaries List After FTX Collapsed
21.11.2022
Just before the FTX collapse, bitcoin was trading above the $20K zone and after the problems started to show and the company filed for bankruptcy, bitcoin’s price dropped close to 19% lower than it was days before the fiasco. According to the official Bitcoin Obituaries list, the sliding...
CME Group’s CEO Called FTX’s Sam Bankman-Fried an ‘Absolute Fraud’ When They Met in March
21.11.2022
According to the CEO of CME Group, Terry Duffy, the executive met with former FTX CEO Sam Bankman-Fried (SBF) last March at a conference, and Duffy ended up calling the FTX frontman a “fraud.” When Duffy sat down with SBF, the former FTX executive said his end goal was to compete with CME Group....
$333 Million in Bitcoin Vanished from FTX Days Before the Company Filed for Bankruptcy Protection
20.11.2022
While it’s widely reported that hundreds of millions of dollars in Ethereum-based tokens were siphoned from the FTX wallet after the company filed for bankruptcy on Nov. 11, 2022, another $333 million worth of FTX-related bitcoins somehow vanished as well. At one point, FTX held $3.3 billion...
‘FTX Accounts Drainer’ Offloads 50,000 ETH, Entity Uses Ren’s Bitcoin Gateway to Acquire BTC
20.11.2022
The ethereum wallet known as the “FTX Accounts Drainer” has started to offload the ethereum it collected this past week after becoming the 27th largest ether address. On Nov. 19, 2022, the wallet held 250,735 ether, but by 7:44 a.m. (ET) on Nov. 20, the “FTX Accounts...
‘FTX Accounts Drainer’ Now Holds Over 250,000 ETH, Address Is the 27th Largest Ethereum Wallet
20.11.2022
The exploiter responsible for siphoning millions of dollars in ERC20 tokens and ethereum from FTX has added more ether to the entity’s holdings. The wallet is now situated in the top 30 largest wallet positions in terms of ethereum holdings. The address dubbed the “FTX Accounts...
FTX Execs Gave $70 Million to Both Democrats and Republicans Heading Into the 2022 US Midterms
18.11.2022
After the collapse of FTX, a number of journalists reported on the fact that FTX executives deployed significant donations to political leaders in the United States. During the most recent election cycle leading up to the U.S. midterms in 2022, reports claim that Sam Bankman-Fried donated more than...
Analysis of FTX and Alameda Collapse Points to Terra LUNA Fallout Starting the Domino Effect
18.11.2022
An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company’s implosion. The study...
Binance CEO CZ Calls SBF a ‘Psychopath,’ 3AC Co-Founder Accuses FTX, Alameda of Stop Hunting His Hedge Fund
17.11.2022
During a conversation with Binance CEO Changpeng Zhao (CZ) and the Milken Institute, the exchange executive called the former FTX CEO Sam Bankman-Fried (SBF) a “psychopath” for one of the tweets SBF wrote last week. CZ’s statements further follow the accusations stemming from Three Arrows Capital...
US House Committee to Investigate and Hold Bipartisan Hearing on FTX Collapse
16.11.2022
The U.S. House Financial Services Committee is planning to investigate the FTX collapse, according to a joint press release published by the committee’s chair Maxine Waters and representative Patrick McHenry. Furthermore, a congressional hearing is scheduled to take place in December, according...
Tom Brady, Gisele Bündchen, Kevin O’Leary, and 9 Other Celebrities Named in FTX-Related Class-Action Lawsuit
16.11.2022
Former FTX CEO Sam Bankman-Fried (SBF) and a number of celebrities including Tom Brady, Gisele Bündchen, Stephen Curry, and Shaquille O’Neal have been named in a class-action lawsuit involving the alleged engagement in deceptive practices with FTX. The lawsuit was filed by the attorneys Adam...
Report: Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan Originations
16.11.2022
Following Blockfi, Liquid Global, and Salt Lending halting withdrawals, reports indicate that Genesis Global Trading’s lending unit has halted customer withdrawals. Genesis’ interim chief executive officer Derar Islim said that the company’s trading and custody units were still operational....
2 More Crypto Platforms Pause Withdrawals as Liquid Global and Salt Lending Cite Exposure to FTX
15.11.2022
On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender...
Bahamas Regulator Appoints ‘Big Four’ Auditor PWC as Joint Provisional FTX Liquidator
15.11.2022
On Nov. 14, 2022, the Securities Commission of the Bahamas (SCB) published a press release that explains the ‘Big Four’ accounting firm PWC (Pricewaterhousecoopers) has been designated as provisional liquidator in the FTX investigation. The SCB detailed that “given the magnitude” of the events...
Gold Bug Peter Schiff Insists This Is ‘Not a Crypto Winter,’ Economist Says It’s More Like ‘Crypto Extinction’
15.11.2022
Since bitcoin started falling from its all-time high last year, the economist and gold bug, Peter Schiff, made sure everyone knows that he wholeheartedly believes the leading crypto asset will fall to zero. Now that FTX has collapsed, Schiff has doubled down on his belief and he’s wasted...
Royal Bahamas Police Force Reveals FTX Is Being Investigated for ‘Criminal Misconduct’
13.11.2022
“A team of financial investigators” are currently investigating the now-defunct crypto exchange FTX, the Royal Bahamas Police Force said in a statement shared on Sunday. The police noted that the financial investigators were searching to see if “any criminal misconduct occurred.” Bahamas...