Tag: FTX

FTX and Alameda likely colluded from the very beginning: Report

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According to a new report published by blockchain analytics firm Nansen on Nov. 17, bankrupt cryptocurrency exchange FTX was allegedly intertwined with that of crypto trading firm Alameda Research from the very beginning. Both entities were created by crypto businessman Sam Bankman-Fried, who is now being considered for extradition by U.S. authorities for his role in the collapse of the exchange.  Based on available on-chain evidence, Nansen identified a series of wallets placing Alameda as one of the earlier liquidity providers for FTX in May 2019. Of the initial 350…

Regulator Halts Trading of FTX Tokens in Indonesia – Exchanges Bitcoin News

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The agency overseeing Indonesia’s crypto market has stopped the trading of FTX tokens on domestic platforms. The announcement comes after FTX, the exchange that issued the FTT token, filed for bankruptcy in the United States and was subjected to investigations by regulatory bodies around the world. Indonesian Authority Orders Crypto Exchanges to Discontinue FTX Token Trading Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) has instructed digital asset exchanges in the country to stop trading the FTX token, also known by its ticker FTT. According to a statement cited by Reuters,…

UC-Berkeley Suspends Stadium Naming Rights Deal with FTX

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FTX Affiliate Alameda Loaned $4.1B to Related Parties – Including $1B to Sam Bankman-Fried

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…

Binance CEO CZ Calls SBF a ‘Psychopath,’ 3AC Co-Founder Accuses FTX, Alameda of Stop Hunting His Hedge Fund – Bitcoin News

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During a conversation with Binance CEO Changpeng Zhao (CZ) and the Milken Institute, the exchange executive called the former FTX CEO Sam Bankman-Fried (SBF) a “psychopath” for one of the tweets SBF wrote last week. CZ’s statements further follow the accusations stemming from Three Arrows Capital (3AC) co-founder Kyle Davies. The 3AC co-founder claimed that both FTX and Alameda Research “colluded to trade against clients.” Binance CEO Tells Sam Bankman-Fried to Suit Up and Face the Music in Washington DC Crypto industry executives are not too pleased with the former…

CFTC Has ‘Boots on the Ground’ at FTX Subsidiary LedgerX

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…

Consultancy Uncovers Best Altcoins To Profit From FTX Collapse

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Eight, a cryptocurrency consultancy founded by Michaël van de Poppe in 2018, has uncovered the best altcoins that can benefit from FTX’s demise. According to analysts, recent events are promoting a narrative that is strongly associated with decentralization. Following the FTX news, leading hardware wallet manufacturer Trezor and Ledger reported skyrocketing and record-breaking sales. This was also accompanied by the trend of massive amounts of Bitcoin (BTC) and ETH (ETH) being withdrawn from exchanges. As Glassnode reported, Bitcoin investors have withdrawn a historic 106,000 BTC/month to self-custody following the collapse…

Solana Buckles Under FTX Debris, Is Single-Digit SOL A Possibility?

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Solana (SOL) was one of the hardest hit blockchains by the FTX collapse. Even now, more than a week after the initial bankruptcy, SOL continues to buckle under the weight of uncertainty left among its users and investors given Sam Bankman-Fried’s (SBF) heavy involvement in the Solana blockchain. Will SOL continue to suffer or is there a reprieve on the horizon for this digital asset? Solana’s Relationship With FTX Even now, the reason for Solana’s success is largely tied to its FTX/Alameda relationship. There is no telling if the blockchain…

How to Report FTX Crypto Losses on Your Taxes

If, however, the funds don’t end up being recovered and the exchange gets shut down (as we’ve seen with Mt. Gox, QuadrigaCX, BTC-E, Cryptsy, Celsius and so many others), I would recommend classifying tokens lost on FTX as worthless investment losses, and taking a capital loss in the year that it is determined that the tokens are deemed worthless. Source BitcoinCryptocryptoexchangeExchangesFTXLossesReportTaxes CryptoX Portal

Sam Bankman-Fried, FTX, Alameda Were Accused of Conspiracy, Racketeering, and Market Manipulation 3 Years Before FTX Collapsed – Bitcoin News

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Amid the latest bankruptcy case filed by FTX Trading Ltd., U.S. regulators want to crack down on crypto exchanges, and a class action lawsuit has been issued against former FTX CEO Sam Bankman-Fried (SBF) and 12 celebrities. However, this is not FTX’s and Alameda Research’s first rodeo with the U.S. court system and financial investigations. After FTX launched in 2019 and following the release of the exchange token FTT, FTX and Alameda faced a lawsuit filed on November 2, 2019, that accused the companies and executives of engaging in racketeering…