Tag: FTX

Former FTX US President Says Bitcoin Spot ETF Will Come In 2024, Gives Price Targets

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Former FTX US President Brett Harrison recently had an interview with Cointelegraph Magazine. As part of the discussion, Harrison gave his thoughts on when a Spot Bitcoin ETF will be approved and the possible price level the foremost crypto token could attain when this happens.  A Spot Bitcoin ETF Could Be Approved In Q1 of 2024 Harrison is said to have mentioned that there is a very “high probability” that the Securities and Exchange Commission (SEC) will approve a Spot BTC ETF in the first quarter of 2024. His prediction…

US crypto firms spent more on lobbying in 2023 than before FTX collapse: Report

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Companies connected to the crypto and blockchain industry in the United States reportedly spent roughly $3 million more on lobbying in the first three quarters of 2023 than over the same period in 2022. According to a Dec. 5 Reuters report citing data from U.S. government transparency group Open Secrets, crypto firms spent roughly $19 million on lobbying from January to September 2023, roughly 19% more than they did over the same period in 2022. Coinbase reportedly led the spending on lobbying at more than $2 million, followed by Crypto.com,…

Solana Price Drops 7% to $60 Amidst FTX Cold Wallet Transfers 

Crypto analyst Ali Martinez has warned of a potential correction for SOL. The price of Solana (SOL) has experienced a 7% decline over 24 hours. However, at the time of writing the fall is not so critical. The coin is around 1% down. The Solana price today is approximately $60 despite the recent market corrections that saw the price of Bitcoin (BTC) and Ethereum (ETH) rise to $42000 and $2200 respectively for the first time since last year. According to CoinMarketCap data, the crypto asset, dubbed the Ethereum killer, saw its…

FTX, Alameda Research move additional $22m worth of crypto

FTX, the exchange founded by disgraced entrepreneur Sam Bankman-Fried, and Alameda Research have transferred another substantial sum of cryptocurrency as part of a larger $551 million asset management effort. According to the blockchain analytics platform, Lookonchain, the diverse mix of transferred cryptocurrencies — about $22 million worth — included Ethereum (ETH), Uniswap (UNI),  Shiba Inu (SHIB), and several others. The move follows prior transfers of substantial amounts to well-known exchanges.  These crypto asset transfers are part of FTX’s ongoing bankruptcy proceedings and endeavors to optimize the value of its token…

FTX and Alameda transfers another $22M worth of crypto asset

Blockchain analysis firm Lookonchain reported that cryptocurrency powerhouses FTX and Alameda Research are actively engaged in a substantial transfer of digital assets, amounting to an impressive $22 million. The diverse cryptocurrency mix comprises $IMX, $GMT, $ETH, UNI, $SHIB, $BAL, $LOOKS, and $WOO. Following their bankruptcy declaration, FTX and Alameda Research have actively maneuvered in cryptocurrency, another bouquet of digital assets, transferring significant amounts to prominent exchanges. Since October 2023, the company has orchestrated remarkable transactions, reaching a cumulative value of $551 million across 59 diverse tokens. In their most recent…

Disgraced FTX Co-Founder Placed On Suicide Watch In Prison, Reveals Former Inmate

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Sam Bankman-Fried, the co-founder of the FTX crypto exchange, who was recently found guilty of multiple counts of criminal fraud, reportedly faced a harrowing experience while incarcerated.  According to a former mobster turned federal informant, Gene Borrello, who shared a prison cell with Bankman-Fried, the disgraced crypto executive was placed on suicide watch and endured challenging conditions during his time at Brooklyn Metropolitan Detention Center (MDC) while awaiting sentencing next year. FTX Co-Founder Subjected To Extortion The details emerged during an interview with crypto blogger Tiffany Fong, where Borrello disclosed…

FTX and Alameda Research Move $10.8M in Cryptocurrencies to Binance, Coinbase, Wintermute

These asset shifts have also been constantly noticed ever since FTX filed for bankruptcy, leaving many to speculate about the rationale behind the moves. According to a recent tweet by Spot on Chain, crypto accounts linked to the collapsed crypto exchange FTX and its sister trading firm Alameda Research executed over $10 million worth of token transfers across six currencies within a 12-hour span. These movements involve a part of the remaining digital assets still controlled by FTX bankruptcy administrators. The frequency and strategies behind the withdrawals have kept many…

FTX and Alameda Research cash out $10.8M to Binance, Coinbase, Wintermute

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Wallets linked to defunct crypto trading firms FTX and Alameda Research moved $10.8 million to accounts in Binance, Coinbase and Wintermute using eight cryptocurrencies. Blockchain analysis firm Spot On Chain found $10.8 million worth of cryptocurrencies being moved from FTX and Alameda Research accounts to various crypto exchanges. The firm estimated that the defunct entities transferred $551 million since Oct. 24 using 59 different cryptocurrency tokens. #FTX and #Alameda moved out $10.8M worth of 8 assets to #Wintermute, #Binance, and #Coinbase in the past 11 hrs: 10M $GMT ($2.58M)407K $UNI…

Crypto exchange FTX gets nod to sell $873M of assets to repay creditors

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Bankrupt crypto exchange FTX has been given the green light to sell around $873 million of trust assets, with proceeds used to repay creditors impacted by the exchange’s collapse in 2022, according to a Nov. 29 filing in a Delaware bankruptcy court. The $873 million in assets will be sourced from FTX’s stakes in various trusts issued by crypto asset manager Grayscale Investments, valued at $807 million, and custody service provider Bitwise — valued at $66 million. While the court document references a total of $744 million in assets —…

FTX May Sell $744M Worth of Grayscale, Bitwise Fund Shares Including GBTC, Bankruptcy Court Approves

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