Tag: Exchange

Bankrupt Crypto Exchange FTX Owes $3,101,348,515 to 50 Largest Creditors

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The collapsed crypto exchange FTX owes more than $3.1 billion to its 50 largest creditors, according to a new bankruptcy filing. The new filing indicates the exchange’s largest creditor is owed more than $226 million, and the top 10 are owed approximately $1.45 billion collectively. The names of the creditors are not listed on the document. FTX’s legal team says the firm is still working out the final figures. “The Debtors’ investigation continues regarding amounts listed, including payments that may have been made but are not yet reflected on the…

What Exchange Absorbed FTX Trading Volume? Report Answers

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In the wake of the FTX collapse, formerly the second-largest exchange in the world, its competitors are taking over its trading volume and market share. The nascent sector is still suffering the consequences of recent events; many crypto companies filed for bankruptcy or are in the process of raising emergency liquidity.  The FTX’s fallout is taking its toll on the crypto market. Bitcoin, Ethereum, and other more prominent cryptocurrencies are trading in losses. No digital assets escaped the bloodbath recorded by the sector in the previous week.  BNB’s price trends…

Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion

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In this photo illustration, a bitcoin logo seen displayed on a smartphone with a FTX logo on the background.  Avishek Das | Lightrocket | Getty Images FTX’s vast web of entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday. The filing was penned by Alvarez & Marsal North America, which is advising FTX on restructuring efforts after the exchange filed for bankruptcy protection earlier this month. Edgar Mosley, managing director at Alvarez & Marsal North…

Warren Buffett’s Berkshire Hathaway Warns About Crypto Exchange Website Using Its Name – Featured Bitcoin News

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The Warren Buffett-led Berkshire Hathaway has issued a statement warning that a cryptocurrency exchange website is using its name. The company stressed that the crypto firm has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett. Berkshire Hathaway Warns About a Crypto Website Berkshire Hathaway Inc. warned Friday that a crypto exchange website is using its name. “Earlier this afternoon it came to our attention that there is an entity using the name Berkshire Hathaway,” the company stated, elaborating: The entity … has no affiliation…

Bankrupt Crypto Exchange FTX Exploring Sales of Subsidiaries, CEO Reveals – Featured Bitcoin News

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Bankrupt cryptocurrency exchange FTX is exploring sales, recapitalizations, and other strategic transactions with respect to its solvent subsidiaries. The firm’s new CEO has instructed the FTX team “to prioritize the preservation of franchise value as best we can in these difficult circumstances.” New FTX CEO Outlines Priorities Cryptocurrency exchange FTX and approximately 101 affiliated companies announced Saturday that they are “launching a strategic review of their global assets to begin to maximize recoverable value for stakeholders.” The review is part of their Chapter 11 bankruptcy process. The new FTX CEO,…

Banking Giant JPMorgan Files Trademark for New Crypto Wallet With Ability to Exchange and Transfer Virtual Currencies

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Financial services industry titan JPMorgan has filed a trademark for a new digital assets wallet. In a recent filing with the United States Trademark and Patents Office (USTPO), JPMorgan filed a trademark for a product called J.P. Morgan Wallet. According to the required trademark statement of use document, the J.P. Morgan Wallet’s identified purpose is to facilitate digital currency exchange. “Financial services, namely, providing electronic transfer of virtual currencies; providing electronic transfer of virtual currencies for use by members of an online community via a global computer network; financial exchange of virtual…

Collapsed crypto exchange FTX owes top 50 creditors $3 billion: Filing

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The collapse of FTX has sent shockwaves through the cryptocurrency industry. The price of bitcoin and other major digital coins have fallen sharply as problems at FTX emerged. Jakub Porzycki | Nurphoto | Getty Images Embattled cryptocurrency exchange FTX owes its creditors north of $3 billion, according to a new filing over the weekend. A list of FTX’s top 50 unsecured creditors, which excludes their names and other identifiable information, shows that the largest of them all is owed more than $226 million. The second-biggest unsecured creditor is claiming over…