Tag: FTX

Binance ‘put FTX out of business’ — Kevin O’Leary

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The collapse of FTX was triggered by Binance, claimed investor Kevin O’Leary on Dec. 14 speaking at the United States Senate committee hearing about the crypto exchange meltdown. O’Leary, who was a paid spokesperson for FTX, provided details about conversations with Sam Bankman-Fried in the days before FTX filed for bankruptcy.  During his testimony, O’Leary said he had questioned SBF regarding how customer funds were used in the past 24 months and was told that almost $3 billion were used to repurchase shares of FTX owned by Binance. When asked…

NFTs minted on FTX break: Nifty Newsletter, Dec. 7–13

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In this week’s newsletter, read about how nonfungible tokens (NFTs) hosted on the FTX exchange are now showing blank images. Check out how NFTs can solve diamond certification fraud and how the NFT space is held back by oversupply. In other news, find out how celebrities are facing a class-action lawsuit. And don’t forget this week’s Nifty News featuring classic media player Winamp adding support for NFTs. NFTs minted on FTX break, highlighting Web2 hosting flaws NFTs hosted on the embattled FTX exchange have been affected by the collapse of…

After FTX, Let’s Get Back to Hiring the Crypto People for the Job

I got into crypto in 2015 because I believed we could build a better, fairer system that worked for everyone. We started this to get away from centralization and blind trust of people and institutions. The first successful companies were built with people who believed in a few founding principles, all to varying degrees: decentralization, privacy, self-custody, and removal of middlemen. Don’t trust, verify. Can’t be evil. The list goes on. Source

SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’ – Bitcoin News

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On Tuesday, the former CEO of FTX, Sam Bankman-Fried (SBF), appeared in court with his newly appointed lawyer Mark Cohen, and his legal team asked the Bahamian judge Joyann Ferguson-Pratt to release SBF on bail with an ankle bracelet. Amid the lengthy court hearing reports detail that SBF’s parents Joseph Bankman and Barbara Fried attended the proceedings. Toward the end of the hearing, judge Ferguson-Pratt denied SBF’s request to be released on bail and remanded Bankman-Fried to the Bahamian jail until Feb. 8, 2023. Bankman-Fried’s Media Tour Comes to an…

If You Think Bitcoin Is the Only Crypto That Will Survive FTX, Tora Inu Might Shock You!

Place/Date: – December 14th, 2022 at 1:00 pm UTC · 4 min read Source: Tora Inu Photo: Tora Inu Bitcoin According to Jeff Booth, a proponent of Bitcoin and author of the book, The Price of Tomorrow, the demise of FTX and several other centralized finance platforms in 2022 confirms the theory that the majority of the crypto ecosystem will ultimately collapse due to its centralization with the exception of Bitcoin’s BTC. Booth thinks that centralized crypto platforms like FTX and Celsius have just mimicked the problems of the current…

Alameda had ‘unfair’ trading advantage, special access to FTX funds: CFTC filing

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Court filings continue to shed light on the dubious relationship between FTX and Alameda Research, in which the hedge fund was afforded an “unfair” trading advantage as well as unprecedented access to user holdings on the cryptocurrency exchange. The United States Commodities Futures Trading Commission filed a complaint in the Southern District Court in New York on Dec. 1, alleging a host of irregular business dealings between Sam Bankman-Fried’s cryptocurrency exchange FTX and his trading company Alameda Research. The complaint provides a raft of allegations detailing how the two companies and…

FTX Founder Sam Bankman-Fried Indicted on Eight Charges

Sam Bankman-Fried has been facing eight different charges and his punishment could total up to 115 years in prison. On Monday evening, December 12, the Bahamian authorities arrested FTX founder Sam Bankman-Fried as the US government filed for criminal indictment. A US grand jury has charged SBF with conspiring and committing wire fraud. The disgraced FTX founder has been facing eight separate charges from different US regulators. The eight-count indictment from the US Attorney’s Office for the Southern District of New York includes charges of money laundering and misusing customers’…