Category: Exchanges

Bankruptcy Court Terminates FTX Naming-Rights Agreement for Miami Heat Arena – Exchanges Bitcoin News

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A federal bankruptcy court in the U.S. has ended the FTX naming-rights agreement for Miami Heat’s basketball stadium. The sports venue was branded FTX Arena as part of a multi-year, multi-million dollar sponsorship deal between the now-bankrupt crypto exchange and Miami-Dade County in 2021. FTX Signage and Advertising to Be Removed From Downtown Miami Sports Facility The FTX naming-rights agreement for the Miami Heat arena was terminated on Wednesday by a federal bankruptcy judge in Delaware. According to the order, the contract between Miami-Dade County and what was one of…

Sam Bankman-Fried’s Lawyers Say $5,000,000,000 in Assets Now Recovered From Collapsed Crypto Exchange: Report

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Sam Bankman-Fried’s attorneys are revealing that billions of dollars worth of liquid assets has been recovered from bankrupt crypto exchange FTX. According to a new report by CNBC, lawyers representing the disgraced former CEO have told a judge that $5 billion in cash, digital assets, and other securities have been recovered from FTX. Attorney Adam Landis told the court that the $5 billion worth of recovered assets do not include any illiquid virtual currencies, adding that FTX’s holdings are so large that selling them would drive down the prices of…

FTX’s Exchange Token FTT Sees Mysterious Pump Amid Bankruptcy Case, SBF Fraud Charges – Market Updates Bitcoin News

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As the FTX bankruptcy case and fraud charges against co-founder Sam Bankman-Fried continue to unfold, the value of the exchange’s token, FTX Token (FTT), has seen significant growth. Since Jan. 9, 2023, FTT has risen 28.42% and currently sits above the $1 range, following a dip below that threshold. FTT Token Jumps 28% Rising Above the $1 Threshold The value of FTX’s exchange token, FTT, has seen a marked increase over the past two days. On Jan. 9, 2023, the coin reached $1.36 per unit. While some of those gains…

Crypto exchanges need to start giving customers their keys

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The business model that cryptocurrency exchanges currently use relies on ignorance and fear.  It relies on their customers not knowing much about decentralized finance (DeFi) and their fear of what could happen if they get things wrong with their crypto investments. Cryptocurrencies seem like an obscure and risky investment to most, and unsurprisingly, concerns about losing assets in market crashes, losing wallets or security keys through carelessness, or being scammed by unscrupulous operators are prevalent. These concerns are reasonable considering the volatility of the market and the prevalence of sharks,…

Former FTX.US President Brett Harrison Says He’ll Share His Story on Collapse of Crypto Exchange

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Former FTX.US president Brett Harrison says he’ll share what he knows about the disgraced and bankrupt exchange “in time.” Harrison answered one Twitter user asking what the FTX.US exchange president knew about what was going at FTX. Says Harrison, “I’ll share in time.”  Harrison stepped down from his position as president of FTX’s US arm in late September, a little more than a month before FTX and FTX US both suddenly collapsed and filed for bankruptcy. The former president also recently responded to another Twitter user who asked him why…

Crypto service Tap Global becomes first 2023 listing on UK stock exchange

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UK crypto app Tap Global has become the first 2023 listing on the Aquis Stock Exchange (AQSE), according to a press release from the company. The listing was accomplished through a reverse takeover by Quetzal Capital, according to a press release on Jan. 10. The first #AQSE listing this year. Thank you to @SimonPeterHunt of The Evening Standard (@standardnews) for covering the news of our stock market debut. #TAP #RTO #PLC Full article: https://t.co/NK5Wp2VqjG — Tap Global Group Plc (@TapGlobalPlc) January 10, 2023 Tap provides fiat banking services, a crypto…

US Hedge Funds Receive Subpoenas Over Communications With Binance As Investigators Probe Crypto Exchange: Report

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Binance, the world’s largest crypto exchange, is reportedly being investigated by federal prosecutors, which has led to multiple American hedge funds being subpoenaed by the Western District of Washington in Seattle. According to a report from the Washington Post, investment firms in the US have been directed by prosecutors to hand over records of their communications with Binance. The Washington Post cites two people who reviewed the subpoenas and spoke on the condition of anonymity. Binance chief strategy officer Patrick Hillmann told Washington Post that the exchange is talking to…

Crypto layoffs mount as exchanges continue to be ravaged by the prevailing bear market.

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There’s no denying that the crypto market has been gripped by immense bearish pressure over the past year, as made evident by the fact that the total capitalization of this sector has continued to hover below the $900 billion mark for most of the year after having scaled up to an all-time high of $3 trillion in 2021. These conditions have been characterized by many companies facing insolvency, as well as many of the world’s top exchanges laying off their staff in recent months. Moreover, the recent FTX debacle has…

Hacker Sent to Prison for Robbing Vietnamese Crypto Exchange – Exchanges Bitcoin News

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Authorities in Vietnam have caught and sentenced a hacker who stole money and data from a local cryptocurrency exchange. The man, who was arrested and charged for extorting the trading platform’s owner, has been ordered to return the money he misappropriated. Vietnamese Court Jails Hacker for Attacking Crypto Exchange Website A resident of Ho Chi Minh City in Vietnam has been given 10 years in prison for stealing 300 million Vietnamese dong (close to $13,000) from a crypto entrepreneur whose coin trading site he subjected to cyberattacks. Nham Hoang Khang,…