Tag: FTX

Crypto.com CEO Explains How Exchange Is Different From FTX Amid Push for Reserves Transparency

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Crypto.com CEO Kris Marszalek says his exchange operates differently than FTX, the digital asset trading platform that famously imploded last week. In a new interview, Marszalek says his exchange’s focus on the retail part of the business distinguishes it from Sam Bankman-Fried’s embattled company. “Essentially there are two business models in the cryptocurrency space, right? One is the brokerage model, where our platform, for example, is a counterparty to the transaction, and every time our users buy or sell crypto, we immediately hedge the other position to have zero market…

Online Investing Platform BnkToTheFuture Drops Plan to Acquire Crypto Lender Salt Lending Due to FTX Exposure

“Bnk To The Future announces that its previously announced non-binding letter of intent with SALT Blockchain, Inc. (SALT) has terminated due to SALT’s position with FTX and for failing Bnk To The Future Due Diligence, and that the transactions contemplated thereby will not proceed,” according to a statement. “Bnk To The Future has no impact from neither Salt nor FTX as Bnk To The Future has no direct or indirect connection with SALT or FTX and all client funds are fully segregated and uninvested,” the statement added. Source

2 More Crypto Platforms Pause Withdrawals as Liquid Global and Salt Lending Cite Exposure to FTX – Bitcoin News

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On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender Blockfi is reportedly in the process of filing for Chapter 11 bankruptcy protection. Blockfi halted withdrawals five days ago and the lender said on Monday that the pause would continue. Crypto Firms Liquid Global and Salt Lending Pause Operations Two more crypto companies have informed…

Crypto’s Political Cash Backs Winners, But New Lawmakers Will Arrive Under FTX Cloud

Still, the events of this month, where one of crypto world’s pillar companies is under investigation as an epic fraud, will play a part. Congressional hearings will likely question what happened with FTX, and the new lawmakers will have to consider appropriate legislation in what could be the most important year yet for the industry on Capitol HIll. Meanwhile, they’ll represent – to some degree – a legacy of Bankman-Fried’s big year as a political patron. Original Source ArriveBacksCashCloudCryptosFTXLawmakerspoliticalWinners CryptoX Portal

Crypto Bank Silvergate Bucks Market Rally as FTX Exposure Is Questioned

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Bahamas Regulator Appoints ‘Big Four’ Auditor PWC as Joint Provisional FTX Liquidator – Bitcoin News

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On Nov. 14, 2022, the Securities Commission of the Bahamas (SCB) published a press release that explains the ‘Big Four’ accounting firm PWC (Pricewaterhousecoopers) has been designated as provisional liquidator in the FTX investigation. The SCB detailed that “given the magnitude” of the events surrounding FTX, the Bahamas regulator recognized that it had to “move swiftly.” ‘Big Four’ Auditing Company PWC Appointed to Provisional Liquidator Status in the FTX Investigation According to a press release published by the SCB on Monday, Kevin Cambridge and Peter Greaves from the ‘Big Four’…

The Long Arm of FTX

Two weeks ago, I thought the biggest story for the week of Nov. 8 would be the U.S. midterm election. Control of both the House and the Senate were up for grabs, with the future of crypto legislation at stake. All of that’s still true, but FTX collapsed in incredible and rapid fashion, with the effects reverberating throughout the world, and that’s really taken precedence in both crypto interest and national attention right now. Source