It will remain to be seen to what extent having to write off $200 million to 300 million on the back of FTX’s dramatic collapse will dampen Temasek’s appetite for the digital assets industry. Temasek managed $294 billion in assets as of the end of March, according to Bloomberg. Original Source 300mBloombergFTXInvestedPreparesTemasekWrite CryptoX Portal
It remains to be seen to what extent having to write off $200 million to 300 million on the back of FTX’s dramatic collapse will damp Temasek’s appetite for the digital-assets industry. Temasek managed $294 billion in assets as of the end of March, according to Bloomberg. Source
The real reason why the FTX failure hits so hard is not because the crypto industry was duped, but because it proved that the industry was vulnerable to being duped. Source
The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022. Source
As Daily Mail reports, FTX’s former CEO Sam Bankman-Fried could be facing extradition. After more and more shocking details about FTX, Alameda and their leaders came to light in recent days, Bankman-Fried is facing extradition by the FBI, according to the latest reports. Already on Monday, it was revealed that the U.S. Department of Justice (DOJ) has teamed up with officials from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to investigate FTX’s business practices. Specifically, the regulators’ focus is on how FTX handled customer…
The Turkish agency responsible for tackling money-related crime has initiated an investigation against troubled crypto exchange FTX. Days after the trading platform filed for bankruptcy in the United States, the department revealed it has been tracking its activities in Turkey. Turkish Financial Watchdog Sets Out to Dig Deeper Into FTX Case Turkey’s Financial Crimes Investigation Board (MASAK), a body subordinated to the Ministry of Finance in Ankara, has started an investigation into the insolvency of cryptocurrency exchange FTX, joining financial authorities in other jurisdictions to do so. “It is well…
The FTX crisis has deterred investor confidence and created a liquidity crisis in the crypto market, which could very well extend the crypto winter until the end of 2023, according to a new report. A research report from Coinbase analyzing the fallout in the crypto ecosystem in the wake of the FTX collapse noted that the implosion of the world’s third-largest crypto exchange has created a liquidity crisis that may contribute to an extended crypto winter. Many institutional investors in FTX had their investments stuck on the platform after it…
Bitcoin (BTC) miners may be sending more BTC to exchanges this month — but overall, their sales have crashed since 2020. Data from on-chain analytics platform CryptoQuant confirms that daily miner transfers to exchanges have decreased by two thirds or more. Miners cool BTC exchange sales after FTX spike After BTC/USD lost 25% in days last week, existing concerns over miner solvency have heightened. Given their cost basis and rising hash rate, commentators warned that many mining participants may not be able to make ends meet — block subsidies and…
The market is highly likely to see “second order effects” arising from the unraveling of FTX, as it emerges which counterparties have lent or interacted with either the exchange or its sister company, Alameda Research, and what those exact liabilities are, the note said. Original Source CoinbaseCollapseCryptoExtendedFTXLeadWinter CryptoX Portal
Solana (SOL) has lost 60% of its market value in a week due to its exposure to the now-defunct crypto exchange FTX, which could continue to haunt the “Ethereum killer” well into the future. FTX/Alameda exposure hurting Solana price FTX and its sister-firm Alameda Research is liable to have control over 50 million SOL, according to Solana’s statement released on Nov. 10. The FTX entities received 4 million SOL from the Solana Foundation on Aug. 31, 2020. They also started receiving a portion of 12 million SOL from Sep. 11, 2020,…