Tag: FTX

Scaramucci Says Investment Firm SkyBridge Is Exploring Buying Back Equity From FTX

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FTX customers attempt roundabout ways to withdraw their funds in Bahamas

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As the FTX crisis continues to permeate through the cryptosphere, users of the platform are trying various ways to bypass the official process of withdrawing their funds from the collapsing exchange.  On Nov. 10, the exchange announced that it will begin withdrawals of funds based in the Bahamas. According to the exchange, the move aims to have its Bahamian headquarters comply with the demands of regulators within the country. 1) Per our Bahamian HQ’s regulation and regulators, we have begun to facilitate withdrawals of Bahamian funds. As such, you may…

FTX ex-exec floats ‘cool token’ idea amid warning rebound may take years

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Bitcoin (BTC) and cryptocurrency may “take years to recover” from the FTX scandal, one industry analyst warns. In a Twitter thread on Nov. 11, Filbfilb, co-founder of trading suite DecenTrader, said that the Terra debacle was itself still playing out. Filbfilb: “I’ve never seen such a debacle” The crypto industry is experiencing “a clear case of what goes up must come down,” Filbfilb summarized. As the fallout from FTX and Alameda Research only begins to become apparent, many industry businesses and associated tokens have been left reduced to a shadow of…

Los exchanges regionales de FTX lentamente vuelven a permitir los retiros

Estas sucursales regionales de FTX son totalmente propiedad de la empresa responsable en Antigua, FTX Trading Ltd., y otorgan licencias de la tecnología de FTX a cambio de regalías que se envían a la casa matriz en Antigua. Los exchanges regionales cumplen con las regulaciones locales de valores valores y, a su vez, ofrecen una selección limitada de tokens (similar a las sucursales regionales de Binance). Dado que cumplen con todas las regulaciones, tienen acceso a los sistemas locales de pago, lo que significa que los traders no tienen que…

FTX Showed the Problems of Centralized Finance, and Proved the Need for DeFi

Despite sell-offs, Uniswap, Balancer, Curv, and other decentralized exchanges (DEXs) and decentralized finance (DeFi) platforms have been functioning smoothly, enabling users to exit their crypto positions or, if they prefer, to capitalize on low prices and buy in. Users may have seen their portfolios decrease in dollar value, but they never lost access to their assets. If that isn’t consumer protection, I don’t know what is. Source

‘Hang in there’ — Crypto Twitter encourages Solana community amid FTX onslaught

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With Solana (SOL) being heavily affected by the FTX debacle, Crypto Twitter expressed sympathy and hopes that its community can make a comeback.  Being one of many coins that FTX CEO Sam Bankman-Fried (SBF) supported, SOL has been hit heavily amid the FTX collapse. On Nov. 10, the total value locked on the Solana chain has fallen by 32.4%. The SOL token lost almost half of its value, dropping in value from $38 on Nov. 5 to $17 at the time of writing. Because of the devastating things happening to…