Tag: FTX

Africa-Focused Payments Firm AZA Finance Slams ‘Erroneous Inclusion’ in FTX Bankruptcy Filing – Featured Bitcoin News

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The founder and CEO of an Africa-focused payments firm, Elizabeth Rossiello, claimed on Nov. 11 that the beleaguered crypto exchange FTX had incorrectly included AZ Finance in its chapter 11 bankruptcy protection filing. The CEO insisted that her firm does not hold customer funds and is presently taking steps to correct the “erroneous court filings.” AZA Finance Does Not Hold Users’ Funds The founder and CEO of AZ Finance, Elizabeth Rossiello, has slammed the “erroneous inclusion” of her firm in FTX’s Nov. 11 chapter 11 bankruptcy filing. According to Rossiello,…

From Mercedes F1 to Miami Heat, Sports Teams Suspend FTX Sponsorships – Exchanges Bitcoin News

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A string of organizations competing in various sports are pulling out of sponsorship deals with beleaguered cryptocurrency exchange FTX. The coin trading platform had pledged millions of dollars to building up brand recognition among sports fans before it went bankrupt. FTX Sign Being Dismantled as Miami Heat Seeks New Naming Rights Partner for Its Arena Scrapping one of FTX’s most expensive sponsorship arrangements, NBA’s Miami Heat and Miami-Dade County said on Friday they are terminating the agreement with the troubled crypto exchange and stated their intention to find a new…

Vitalik Buterin calls out FTX for virtue signaling: ‘deserves what its getting’

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The sudden fall of FTX revealed the need for fresh reforms aimed at protecting investor funds against manipulation and misdirections. The co-founder of Ethereum, Vitalik Buterin, believes what FTX did was a bigger fraud when compared to the infamous Mt. Gox and Terra (LUNA) collapses. Buterin believed that people running Mt. Gox and LUNA ecosystems “looked” sketchy and did not try too hard to whitewash themselves enough to change investor perspectives. On the other hand, Buterin said that “FTX was the opposite and did full-on compliance virtue signaling.” While virtue…

Former US Treasury Secretary Larry Summers Compares FTX Collapse to Enron Fraud – Regulation Bitcoin News

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Former U.S. Treasury Secretary Lawrence Summers has compared crypto exchange FTX to Enron, noting that the case is a classic fraud rather than the complexities of cryptocurrency regulation. He said the regulatory community ought to draw two lessons from the collapse of FTX. Larry Summers Compares FTX to Enron Former Treasury Secretary Lawrence Summers shared his view on the need for cryptocurrency regulation following the collapse of Sam Bankman-Fried’s FTX crypto empire in an interview with Bloomberg Television Friday. Summers served as the U.S. Secretary of the Treasury from 1999…

Regulator denies asking FTX to prioritize withdrawals for Bahamian clients

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The Securities Commission of The Bahamas (SCB) has denied instructing or authorizing crypto exchange FTX to prioritize withdrawals of Bahamian clients.  In a statement on Nov. 12, the securities commission vehemently denied the contents of a Nov. 11 statement from FTX on Twitter that suggested it had been instructed by “Bahamian HQ’s regulation and regulators” to facilitate the withdrawal of Bahamian funds. “The Commission wishes to advise that it has not directed, authorized or suggested to FTX Digital Markets, Ltd. the prioritization of withdrawals for Bahamian clients,” read the statement, which…

FTX Hack Spooks Solana DeFi Community, Igniting Revolution at Alameda-Controlled Serum DEX

Lending protocol Solend, Jupiter, automated market maker Raydium, stablecoin swap shop Mercurial Finance and other Solana-based DeFi traders, as well as centralized entities including Phantom wallet, limited their exposure to Serum Saturday morning. They disconnected price data oracles, shut down token trading pools or ceased trading on its central limit order book. Original Source AlamedaControlledCommunityDeFiDEXFTXHackIgnitingRevolutionSerumSolanaSpooks CryptoX Portal

FTX CEO Confirms Reports of ‘Unauthorized Access to Certain Assets,’ Team Is ‘Coordinating With Law Enforcement’ – Bitcoin News

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Following the reports that said FTX wallets were being drained and the FTX Telegram channel’s admins that detailed its possible malware might be present in FTX-related apps and websites, the company’s new CEO John Ray confirmed there were “unauthorized transactions.” The news was shared by FTX US’s general counsel Ryne Miller and retweeted by FTX’s official Twitter account. Unauthorized Access to FTX Funds Confirmed On Saturday morning (ET) on Nov. 12, 2022, reports had shown that FTX wallets were being drained. The breach was confirmed after people started talking about…

FTX goes up in flames and impacts the broader crypto industry, causing regulators to respond: Hodler’s Digest, Nov. 6-12

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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week FTX and Binance’s ongoing saga: Everything that’s happened until now An earthquake rattled the crypto space this week, its impact felt in numerous related stories regarding FTX, Alameda Research and Binance. Although the bad news came rolling in this week, suspicions relating to FTX’s status…