Category: Exchanges

FTX Says It’s Been Hacked As $383,000,000 in Crypto Appears To Exit Crumbling Exchange

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The crumbling crypto exchange FTX says it’s been hacked. As a flood of users began reporting sudden $0 balances and on-chain analysts began tracking millions of dollars appearing to exit the exchange, FTX general counsel Ryne Miller released a statement on the company’s Telegram channel. “FTX has been hacked. Chat is open. Don’t go to FTX site as it might download Trojans. Note that some funds were retrieved.” Miller also released a statement on Twitter. “Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges – unclear…

Top Crypto Exchange Coinbase Adds NFT Game Studio Altcoin to Listing Roadmap

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Top US crypto exchange Coinbase is adding a non-fungible token (NFT) game studio altcoin to its listing roadmap. Coinbase customers could soon start trading the native token of Vulcan Forged (PYR), an NFT game studio, marketplace, and DApp (decentralized application) incubator. The project says it has more than 10 games, more than 20,000 members in its community, and a top-five NFT marketplace volume. PYR is trading at $3.47 at time of writing. The 257th-ranked crypto asset by market cap is up more than 7% in the past 24 hours but…

Philanthropic FTX Foundation Sunsets Operations Amid Bankrupt Exchange’s Fallout – Bitcoin News

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The philanthropic effort created by the troubled crypto exchange FTX has detailed it is sunsetting operations and told the community that members were “shocked and immensely saddened” by the turn of events that transpired around the trading platform. Sam Bankman-Fried’s Altruistic Efforts Undermined by the FTX Collapse, Plans to ‘Do Unbelievably Good Things’ Shaken While FTX was at one time valued at $32 billion, the crypto exchange executives spent significant amounts of money donating to different causes. For instance, FTX CEO Sam Bankman-Fried (SBF) donated a lot of money to…

Embattled Crypto Exchange FTX Lent Billions in Customer Assets To Fund Alameda Research: Report

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A new report claims that troubled crypto exchange platform FTX lent billions of dollars worth of its customers’ assets to fund its quantitative trading branch. According to The Wall Street Journal, FTX CEO and founder Sam Bankman-Fried told investors that Alameda Research owes FTX about $10 billion worth of customer funds. The source says that Bankman-Fried gave out loans to Alameda Research using $10 billion out of the $16 billion in customer deposits FTX had, a move the CEO described as a “poor judgment call.” Bankman-Fried, who was also the…

SEC, DOJ Investigate FTX — Regulators Suspect Crypto Exchange Mishandles Customer Funds – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance walked away from the acquisition of FTX. U.S. Regulators and DOJ Investigate Crypto Exchange FTX Several U.S. authorities are reportedly probing FTX, the embattled cryptocurrency exchange founded by Sam Bankman-Fried. The U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are looking into the turmoil surrounding…

FTX CEO Sam Bankman-Fried Tells Investors the Troubled Exchange Needs Cash To Avoid Bankruptcy: Report

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The CEO of the cash-strapped FTX crypto exchange is reportedly warning investors that the company will collapse if it fails to get additional capital. Citing a person familiar with the matter, Bloomberg reports that FTX CEO Sam Bankman-Fried informed investors that his embattled firm may file for bankruptcy if it does not get the money needed to cover an up to $8 billion shortage. FTX reportedly needs to get at least $4 billion to remain solvent and Bankman-Fried is trying to raise funding in the form of debt, equity or…

Circle CEO Jeremy Allaire Says Stablecoin-Issuer Not Affected by Troubles at Crypto Exchange FTX

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The CEO of USD Coin (USDC) issuer Circle says that crypto exchange FTX’s liquidity issues bear no significant impact on the stablecoin company. Jeremy Allaire says that Circle provides services to both FTX and Alameda Research, the quantitative crypto trading firm founded by FTX CEO Sam Bankman-Fried. “Circle has no material exposure to FTX and Alameda. FTX has been a customer of Circle Payment APIs for the past 18 months, providing card and ACH services for customer transactions. Circle’s crypto payments beta product uses FTX and other exchanges, for BTC/ETH…