Several key Senators within the Democratic Party have expressed concern over the collapse of crypto exchange FTX, which was led by major election donor Sam Bankman-Fried. Sen. Sherrod Brown, who will continue to chair the Senate Banking Committee, and Sen. Elizabeth Warren, who sits on that committee, have both called for investigations into the exchange. Source
Solana’s developers forked the widely used token liquidity hub Serum, after being compromised by a hack on the bankruptcy exchange FTX on Nov. 11 that led to a series of unauthorized transactions. According to pseudonymous developer Mango Max on Twitter, a “verified build of the same version has been made and deployed” on Nov 12. Additionaly, the upgrade authority and fee revenues “have been changed and are now managed by a multi-sig controlled by a team of trusted developers.” Serum (SRM) and megaserum (MSRM) tokens, as well as fee discounts…
Following the collapse of FTX and the exchange filing bankruptcy on Nov. 11, the trading platform’s exchange token called ftx (FTT) has shed 91.6% in value during the last seven days. While the FTT token’s utility is based entirely on the backing of the now-bankrupt FTX and Alameda Research, the token is still trading for $1.85 per unit. Moreover, FTT’s deployer contract surprisingly unlocked 192 million FTX tokens on Nov. 12, 2022. While a few crypto exchanges have halted FTT deposits, crypto coin aggregation sites like coingecko.com have flagged the…
Crypto exchange Kraken has frozen a handful of accounts owned by the bankrupt FTX Group, Alameda Research, and their executives. Kraken has been in contact with law enforcement after discovering that an account on its platform was used in connection with unauthorized transfers at FTX. Kraken Freezes Accounts Belonging to FTX, Alameda Research, and Executives Cryptocurrency exchange Kraken has taken steps to freeze verified accounts on its platform belonging to FTX Group, Alameda Research, and their executives. The official Twitter account for Kraken tweeted early Sunday morning: Kraken has spoken…
As theories proliferate wildly about the true nature of what happened to failed crypto exchange FTX, little is yet clear to the crypto community. Former CEO of FTX Sam Bankman-Fried has addressed the issue publicly on social media, mentioning a mysterious “sparring partner.” This week, Bitcoin.com News has also provided an in-depth look at the rise and fall of the toppled exchange behemoth. All this and more, just below. FTX CEO Updates Crypto Community, Sunsets Alameda Trading, Addresses a Specific ‘Sparring Partner’ On Nov. 10, 2022, FTX CEO Sam Bankman-Fried…
Bitcoin (BTC) investors are withdrawing funds from exchanges at a rate not seen since April 2021 with nearly $3 billion in Bitcoin withdrawn over the past seven days. New data from on-chain analytics firm Glassnode shows the number of wallets receiving BTC from exchange addresses hit almost 90,000 on Nov. 9. Exchange users wake up to self-custody Amid ongoing turmoil over the bankruptcy of major exchange FTX, concerns have heightened among exchange users over security of funds. Commentators have upped advice to avoid custodial wallets and take control of cryptoassets,…
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,…
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…
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…
CryptoX – Cryptocurrency Analysis and News Portal Crypto exchange FTX was not required to allow Bahamas-based customers to withdraw their funds, a local financial regulator said Saturday. Original Source The post Bahamas Securities Regulator Says It Didn't Order FTX to Reopen Local Withdrawals appeared first on CryptoX. CryptoX Portal