Tag: CEO

Financial group CEO claims he tried to warn Bankman-Fried about insolvency in July

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Richard Handler, CEO of Jefferies Financial Group, seemingly alleged on Nov. 10 that he knew about FTX’s liquidity problems back in July. In a Twitter thread, Jeffries revealed screenshots of emails that he claimed were sent to associates of Sam Bankman-Fried, also known as SBF. The images Handler provided do not show the names or email addresses of the other parties to the conversation, but the bodies of the messages imply that Handler was trying to warn SBF about a potential financial problem at FTX and offer Jefferies’ restructuring services as…

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…

FTX CEO Updates Crypto Community, Sunsets Alameda Trading, Addresses a Specific ‘Sparring Partner’ – Bitcoin News

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On Nov. 10, 2022, FTX CEO Sam Bankman-Fried (SBF) addressed the crypto community in a thread posted to Twitter. SBF noted that he messed up and “should have done better” and also detailed that at some point he “might have more to say about a particular sparring partner.” SBF Says He Messed Up, Claims ‘Hands Were Tied During the Duration of the Possible Binance Deal’ Sam Bankman-Fried (SBF) has discussed some updates concerning FTX in an apologetic Twitter thread published on Thursday. The FTX CEO said he “should have been…

Unclear regulations drove 95% of trading activity offshore: Coinbase CEO

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Coinbase CEO Brian Armstrong was not delighted with the news about the United States regulators looking into FTX.US along with Coinbase and Binance.US in the wake of the FTX crisis. Armstrong said that the enforcement action against U.S.-based companies for the irregularities committed by an offshore crypto exchange that fall out of the jurisdictions of U.S. regulators makes no sense. Armstrong’s comments came in response to Senator Elizabeth Warren’s call for “aggressive enforcement” in the wake of the FTX crisis. The Coinbase CEO blamed the Securities and Exchange Commission (SEC)…

Binance CEO Explains Situation With FTX — Says ‘We Did Not Master Plan This’ – Exchanges Bitcoin News

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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. He further stressed that “FTX going down is not good” for anyone in the crypto industry, warning that regulators will “scrutinize exchanges even more.” Binance’s CEO Informs Employees About FTX Deal The CEO of cryptocurrency exchange Binance, Changpeng…

In staff letter, Binance CEO embraces scrutiny from regulators amid potential FTX deal

Changpeng Zhao, the chief executive officer of crypto exchange Binance also known as “CZ,” warned users its intention to acquire FTX may invite scrutiny from global regulators — but the firm is ready. In a letter to Binance staff tweeted on Nov. 9, CZ said though the deal to acquire another major crypto exchange was still in the works, regulators would likely “scrutinize exchanges even more” and make it difficult to acquire operating licenses. He added that if the deal resulted in FTX going down, it would be a loss…

Coinbase CEO Brian Armstrong Says Crypto Exchange Has Zero Material Exposure to FTX or FTT

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The chief executive of Coinbase is making it crystal clear to stakeholders that the top US-based crypto exchange has no investments in its troubled competitor FTX. Brian Armstrong tells his 1.1 million Twitter followers that Coinbase has zero “material exposure” to crypto derivatives exchange FTX, its native FTX Token (FTT) or its sister company Alameda Research. Armstrong’s statements come amid the abrupt collapse of the embattled crypto exchange FTX. Its native asset FTT is also in the midst of a total meltdown, plunging nearly 75% in the last 24 hours.…

Marathon is now the 2nd-largest listed holder of Bitcoin, says CEO

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Bitcoin (BTC) mining company Marathon Digital Holdings is now understood to be the second-largest holder of Bitcoin in the world among publicly-listed companies. During the company’s third-quarter earnings call on Nov. 8, Marathon Digital CEO Fred Thiel revealed the company now holds 11,300 Bitcoin — worth around $205 million — “making Marathon the second largest holder of Bitcoin among publicly traded companies worldwide, ” referring to unnamed third-party data. According to CoinGecko, the NASDAQ-listed crypto miner is ranked second only to MicroStrategy Inc., which holds nearly 130,000 total Bitcoin. It’s…