In its order, the FSA cites the fact that FTX Japan halted withdrawals for customers in the country without specifying a date for reinstatement and without stopping the onboarding of new customers to the platform. CoinDesk was told early Thursday by a source that FTX Japan had indeed halted withdrawals. Under the circumstances, the regulator said it is uncertain about FTX Japan’s health. Source
โWhile COIN has minimal exposure to FTX, before there is enough evidence that the contagion risk is contained, the pressure on crypto prices will likely weigh on COIN,โ Oppenheimer analyst Owen Lau told clients in a research note Thursday morning. The firm lowered its price target to $89 from $107, maintaining an outperform stock rating. Source
FTX founder Sam Bankman-Fried is reportedly not done looking to raise emergency capital to keep his floundering crypto exchange afloat. Bankman-Fried will focus on raising capital for the week ahead, according to an internal memo seen by reporters at Reuters. Specifically, Bankman-Fried told employees that heโs looking to make customers whole by โconducting a raiseโ and seeking โpossible new investors.โ FTX is also working with Tron (TRX) founder Justin Sun, who says a plan to โreturn to normalcyโ is underway. Sun and Bankman-Fried teamed up to re-enable trading of TRX…
In one of his first public statements since rumors and concerns about FTXโs insolvency flooded the crypto market, CEO Sam Bankman-Fried, or SBF, has said: โIโm sorry.โ In a Nov. 10 Twitter thread, SBF admitted to investors he โshould have done betterโ in providing transparency on the situation with FTX. The CEO reported the exchange was experiencing a โliquidity crunchโ caused by user withdrawals and requested financial assistance from Binance โ a potential deal that later fell apart. According to SBF, the exchange saw roughly $5 billion in withdrawals on…
A Tether spokesperson told CoinDesk via email that โwhile we cannot specifically comment, Tether routinely has open dialogue with law enforcement agencies, including the U.S. Department of Justice, as part of our commitment to cooperation, transparency, and accountability.” Source
In his thread, Bankman-Fried tried to explain his companyโs situation, saying FTX โpoorlyโ labeled bank-related accounts internally, and so he misjudged usersโ margins. Customers withdrew $5 billion worth of assets on Sunday, but had the liquidity to support only 80% of that, with leverage 1.7 times what FTX had. Source
press release PRESS RELEASE. Tallinn, Estonia: Swaps is pleased to announce that we have updated our platform. As a crypto and fiat payment processing company, we prioritize providing our partners with the best crypto on-ramp, off-ramp, and checkout services. Our new update includes better UI and UX, 31 blockchains and 1000 tokens available, new payment methods, quick API integration, and many more features. Since 2019, Swaps has been committed to helping businesses to access Web3 by providing crypto on-ramp solutions, allowing them to offer Bitcoin, Ethereum, Tether and other coins.…
Binance dijo que tiene alrededor de 475.000 bitcoins (US$7800 millones), 4,8 millones de ether (US$5570 millones), 17.600 millones de USDT (US$17.400 millones), 601 millones de USDC (US$607 millones), alrededor de 21.700 millones de su propia stablecoin BUSD (US$21.900 millones) y 58 millones de su propio token BNB (US$16.000 millones). Source
Last month, in the span of a few days, the man known as SBF appeared at no fewer than three major Washington events, with lawmakers, prominent bankers and financial academics in the audience. In the early days, his cheerful digital campaign was met with confusion and some low-grade hostility, but in recent months, his relentlessness was starting to bear fruit. Source
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