“The ill-advised, deceptive, and potentially illegal actions of a few have a direct impact on the valuation of Bitcoin and other digital assets,” the letter read. Source
“You have witnessed probably one of the most abrupt and difficult collapses in the history of corporate America,” an attorney for FTX said during the company’s first bankruptcy hearing on Tuesday. Source
“We had filed with your honor a motion to transfer that case from the Southern District of New York to the district of Delaware, and we are pleased to report that we have reached an agreement with the joint provisional liquidators to do just that to bring the case from New York and here to Delaware,” James Bromley, a partner in Sullivan & Cromwell’s Finance & Restructuring Group said during the first FTX bankruptcy hearing on Tuesday. Source
Data shows the so-called Bitcoin “diamond hands” have shed 84.5k BTC from their holdings since the collapse of crypto exchange FTX. Bitcoin Long-Term Holder Supply Has Sharply Declined Recently According to the latest weekly report from Glassnode, the long-term holder supply has observed one of its most significant declines this year in recent days. The “long-term holder” (LTH) group is a Bitcoin cohort that includes all those investors who have been holding onto their coins since at least 155 days ago, without having sold or moved them. Statistically, the longer…
According to a report citing three people familiar with the matter, the former FTX CEO Sam Bankman-Fried (SBF) may be extradited to the United States for questioning. After it was alleged that SBF transferred $10 billion in customer funds to Alameda Research, the company’s financials show between $1 billion and $2 billion has gone missing. Reports Indicate Former FTX CEO Bankman-Fried Faces Extradition to the U.S. for Questioning It’s been two weeks since the FTX collapse and 11 days since the company filed for Chapter 11 bankruptcy protection. Now, according…
Gray Wang is not like his co-founder Sam Bankman-Fried, who loves fame and putting himself at the center of public attention (even when people are begging him to stop tweeting). In fact, there’s little public information about Wang, who has been described as a shady but critical player in the rise and fall of FTX. Source
FTX collapsed. These players held the keys. Source
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…
Decentralization was, and still is, the answer, says the co-founder of NEAR Protocol. Source
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…