Tag: FTX

While the FTX Co-Founder Claims He ‘Wasn’t Running Alameda,’ SBF Is Asked Why He Threw Caroline Ellison ‘Under the Bus’ – Bitcoin News

boss

While the former FTX CEO Sam Bankman-Fried (SBF) has done numerous interviews, during these discussions he’s explained on numerous occasions that as far as Alameda Research is concerned, he “wasn’t running Alameda.” SBF wasn’t the CEO of the trading firm Alameda Research as the job was handled by Caroline Ellison, a former Jane Street trader and Stanford graduate. Ellison has been super silent since FTX’s collapse and there’s been speculation that she fled Hong Kong to reside in Dubai. Where in the World Is Alameda’s CEO Caroline Ellison? During Sam…

Crypto Derivatives DEXs Reposition for Life After FTX

That’s driven lots of new interest to some of the earliest decentralized players. Dan Gunsberg, creator of Solana-based derivatives exchange Hxro, said that in recent weeks he’s seen a boom in interest for his trading platform, which he claims cannot fall prey to the same pain points that felled FTX and its sister company, Alameda. Source

Legal team for 3AC liquidators blast founders for shifting blame to FTX, media blitz amid bankruptcy

boss

The founders of Three Arrows Capital, or 3AC, the Singapore-based crypto hedge fund with close ties to Terra Labs, have been spending more time engaging on social media and news outlets than dealing with its own liquidation, according to bankruptcy lawyers. In a Dec. 2 hearing in United States Bankruptcy Court in the Southern District of New York, lawyers for 3AC’s liquidators cited founders Zhu Su and Kylie Davies for being “active and responsive to comments via Twitter” but “repeatedly fail[ing] to engage” with liquidators to discuss the company’s assets…

Is Bitcoin the only crypto that will survive FTX?

boss

The downfall of FTX and a number of other CeFi platforms in 2022 has reinforced a Bitcoin maximalist narrative, according to which most of the crypto ecosystem will eventually collapse due to its centralization.   Jeff Booth, Bitcoin proponent and author of “The Price of Tomorrow”, believes centralized crypto platforms such as FTX and Celsius have ended up replicating the traditional financial system with all its inherent flaws. “All of crypto is trying to rebuild a financial system that we already have based on manipulation and centralization,” said Booth, in an…

US Trustee Plans to Appoint an Examiner to FTX Case, While SBF Describes Strange Margin Trading Practices – Bitcoin News

boss

On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse was comparable to complex bankruptcy cases like Lehman’s, Washington Mutual Bank’s, and New Century Financial’s. Moreover, while the U.S. Trustee submitted a filing that requested a third-party examiner, former FTX CEO Sam Bankman-Fried has continued to appear in numerous interviews with the media. U.S. Trustee: An…

Sam Bankman-Fried Claims He Did Not Devote Time to Risk Management at FTX

Embattled ex-FTX CEO Sam Bankman-Fried reflects on his ‘costly’ apathy for risk management during his time with the exchange.  Sam Bankman-Fried recently stated that he did not devote time to risk management practices while helming fallen crypto exchange FTX. In a recent interview filmed in the Bahamas, where Bankman-Fried remains holed up, the disgraced former CEO reflects on what could have been. According to Sam Bankman-Fried, if he had devoted an hour a day to risk management, FTX might still be functional today. Instead, on claims that he was an expert on…