FTX, which now faces insolvency, is seeking nearly $10 billion in external funding a week after CoinDesk first reported how funds were spread between the exchange and Alameda. The report led to a cascade of events – with crypto markets tanking, Alameda winding down trading, and FTX founder Sam Bankman-Fried losing most of his wealth. Source
The Bahamas Securities Commission has frozen the assets of FTX Digital Markets and related parties. The financial regulator said the prudent course of action is to put the crypto firm “into provisional liquidation to preserve assets and stabilize the company.” Bahamas Securities Regulator Takes Action Against FTX The Securities Commission of the Bahamas announced Thursday that it has taken action to “freeze assets of FTX Digital Markets and related parties.” FTX Digital Markets is the Bahamian subsidiary of Sam Bankman-Fried’s FTX Trading Ltd., which owns and operates crypto trading platform…
Cryptocurrency exchange FTX has had its EU license suspended by Cyprus’ regulator. Source
CryptoX – Cryptocurrency Analysis and News Portal Cryptocurrency exchange FTX has had its EU license suspended by Cyprus’ regulator. Original Source The post FTX Has European License Suspended by Cyprus Regulator: Report appeared first on CryptoX. CryptoX Portal
The founder of the Chain blockchain infrastructure company, who goes by the internet pseudonym Deepak.eth, took to Twitter to announce the sale of their nonfungible token (NFT) collection. Deepak.eth tweeted that the collection will either be sold to the highest bidder, or else placed in a “fractional DAO” in which they would sell 80% of the ownership. According to the Chain founder the collection is going for 8,000 (ETH), which is roughly $10, 258,720 million at the time of writing. My NFT Collection is now available. It will either be sold…
Speaking on CNBC’s “Closing Bell” Thursday, Peter Smith deemed the collapse of crypto exchange FTX as “a tragedy and total failure of governance.” The CEO and co-founder of crypto exchange Blockchain.com noted that there is a need for crypto investors to go back to the drawing board and hold their assets on their own private keys. Smith explained: “Crypto is one of the very few assets in the world that you can custody yourself, and I think we’re going to see folks increasingly move back to that model as…
FTX Australia and FTX Exchange, the Australian entities of troubled global cryptocurrency exchange FTX, appointed administrators, Australia media reported. Source
The crypto community continues to be bombarded with rumors and conspiracy entering into the fifth day of FTX’s fall. From reports that Sam Bankman-Fried (SBF) was arrested on the tarmac at the Bahamas airport to rumors that employees of the exchange are trying to sell the company’s assets, it has been very difficult for the community to separate fact from fiction. PAULY.SOL, the founder of the nonfungible token (NFT) project Not Larva Labs was one of the first to spur rumors of SBF’s arrest. The NFT founder retweeted a post…
The Department of Financial Protection and Innovation (DFPI) in the state of California announced on Nov. 10 that it will open up an investigation as to the “apparent failure” of the cryptocurrency exchange FTX. California regulators said in the announcement that the DFPI takes this oversight responsibility “very seriously” and that the department expects all entities offering financial services in the state to comply with local financial laws. It also encouraged anyone in the state who has been affected by the events of the ongoing FTX saga, to call a…
United States senators Debbie Stabenow and John Boozman have doubled down on their commitment to publishing a final version of the Digital Commodities Consumer Protection Act 2022 (DCCPA) in the wake of FTX’s shocking collapse. For a short time, the cryptocurrency community wasn’t sure how the senators would respond to the FTX crisis — as the DCCPA bill is understood to have been strongly supported by FTX CEO Sam Bankman-Fried. But the members of the U.S. Senate Committee on Agriculture, Nutrition and Forestry confirmed their intentions in a Nov. 10…