Tag: FTX

US DOJ reportedly investigating FTX CEO for siphoning funds out of the US

While many crypto fraudsters were able to slip through the cracks in the past, the same does not hold for FTX CEO Sam Bankman-Fried (SBF). Running parallel to the ongoing scrutiny related to FTX frauds, the United States Department of Justice (DOJ) is reportedly investigating a potential fraud that involves SBF siphoning funds offshore just days before FTX filed for bankruptcy. According to a Bloomberg report, the federal investigation aims to examine SBF’s involvement in improperly transferring FTX funds to the Bahamas as the defunct crypto exchange filed for bankruptcy…

Bahamian attorneys pursue access to FTX data of international customers

boss

Authorities across the globe are fighting against time to bring justice to the millions of people impacted by the financial frauds committed by FTX CEO Sam Bankman-Fried. As part of the ongoing investigations, attorneys representing the Securities Commission of the Bahamas seek access to FTX’s database with international customer information. The Bahamian attorneys filed an emergency motion with a Delaware bankruptcy judge requesting access to FTX’s customer database to aid their ongoing investigations. The motion highlighted previous failed attempts to access the defunct crypto exchange’s database. As a result, the…

Meme Coin Economy Heals After the FTX Fiasco Swelling by $1.4 Billion in 30 Days – Market Updates Bitcoin News

boss

The meme coin economy has seen its value increase 7.77% against the U.S. dollar during the last month, as the meme token market leader dogecoin jumped 29.4% higher in 30 days. Dogecoin has also managed to move from the ninth-largest market cap position to the eighth-largest crypto market valuation this past month. Shiba inu, on the other hand, dropped from the thirteenth largest market cap to the fourteenth spot. Meme Tokens Gained Over 7% Against the Greenback Over the Past Month Amid the craziness with FTX and before the bankruptcy…

Who’s expected to testify before Congressional hearings on FTX?

boss

United States lawmakers have been pushing for certain witnesses — including Sam Bankman-Fried — to appear before committee hearings scheduled in December. Who should the crypto space expect to see testifying on the events leading to the downfall of FTX? On Dec. 9, Bankman-Fried, or SBF, said — under threat of a potential subpoena — that he was willing to speak at a U.S. House hearing aimed at exploring FTX’s collapse. Leadership with both the House Financial Services Committee and Senate Banking Committee had suggested that they might subpoena the…

FalconX says exposure to FTX represented 18% of its ‘unencumbered cash equivalents’

boss

Cryptocurrency trading company FalconX has disclosed that it suffered losses in the collapse of FTX.  According to the company, its assets locked on FTX represent only 18% of its “unencumbered cash equivalents.” However, the company added that this ratio fell well within their counterparty exposure limits.  FalconX insisted that despite its exposure to the now insolvent FTX, its finances remain strong, as it continues to facilitate “billions of dollars” in daily trade volume for its clients. The company also claimed that its monthly volume has grown by “80%+ month-over-month.” It’s…

Kevin O’Leary Says FTX Collapse Makes Him and Other Investors in the Crypto Exchange ‘Look Like Idiots’

boss

Shark Tank star Kevin O’Leary says that the collapse of FTX made him and other prominent investors look ‘like idiots.’ In a new interview on CNBC Squawk Box, O’Leary says former FTX CEO Sam Bankman-Fried being an American citizen subject to US laws contributed to making the company an attractive investment for institutional investors. He also says that some of the narratives centered around Bankman-Fried, such as having parents who are compliance lawyers, kept investors from thinking anything was amiss. “I obviously know all the institutional investors in this deal.…

Sam Bankman-Fried, CZ Battle It Out on Twitter Over Binance’s Exit from FTX

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

SBF ‘willing’ to testify at Senate hearing on the FTX collapse

boss

Former FTX CEO Sam Bankman-Fried has indicated that he’s willing to testify at a United States Senate hearing into the collapse of cryptocurrency exchange FTX. Bankman-Fried controversially missed the deadline to respond to a Senate Banking Committee request to appear and testify during a hearing focused on FTX’s bankruptcy earlier this week. While the possibility of a congressional subpoena was on the table, the beleaguered former CEO has offered himself up in a series of Tweets published Dec. 9. 1) I still do not have access to much of my…

Japanese Regulator Extends FTX Japan’s Suspension as Users Wait for Their Funds

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…