Tag: FTX

Tether CTO confirms no plans to rescue FTX

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Cryptocurrency exchange FTX has lost at least one potential rescuer as it battles to fill a reported multi-billion dollar hole in its balance sheet. The CTO of stablecoin issuer Tether, Paolo Ardoino on Nov. 10 confirmed the company does not have “any plans to invest or lend money to FTX/Alameda.” Tether does not have any plans to invest or lend money to FTX/Alameda. Full stop. — Paolo Ardoino (@paoloardoino) November 10, 2022 Ardoino’s comments came after a Nov. 10 report from Reuters suggested that FTX is now at a $9.4 billion…

Tron-based tokens sell at 1200% premium as FTX users scramble to withdraw

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Tron-based tokens such as JUST (JST) have surged as much as 1000% on FTX, as users scramble to find ways of extracting locked-up liquidity from the beleaguered exchange.  At the time of writing, Tron’s native token TRX is trading at roughly $0.33 on the FTX exchange, more than five times its current market price, according to CoinGecko. Meanwhile, BitTorrent (BTT), JUST (JST) and the Sun Token (SUN) are trading on the exchange at premiums ranging from 525% to 1,196% compared to the market price. As it stands, the prices are…

Kraken’s Jesse Powell Blast FTX And Sam Bankman-Fried Without Naming Them

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Leave it to Jesse Powell to say what everyone in crypto is thinking. “I’m really trying to control my rage,” the mind behind Kraken tweeted to begin his rant. In the following article, we’ll comment on several of his very interesting points. Make no mistake, though, Jesse Powell thinks this isn’t over and the crypto industry will have to work for years to make up for… some other cryptocurrency exchange’s mistake. “More business failures are sure to come as the contagion spreads,” he warned. 2/ Our good, trusting nature makes…

TRX’s USD Exchange Rate Jumps 270% Higher on FTX After Exchange Brokers Deal With Tron – Markets and Prices Bitcoin News

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On Thursday, at approximately 12:48 p.m. (ET), the embattled exchange FTX revealed that it has created a special facility with Tron. The deal allows holders of specific Tron-based coins to withdraw the tokens to external wallets on a 1:1 ratio. While coin market aggregation sites say tron tapped a high of $0.06 per token on Thursday, tron reached a high of $2.49 per coin against the U.S. dollar on FTX. Tron Exchange Rate Balloons on FTX After Special Facility Established The troubled crypto exchange FTX has been the center of…

Genesis Trading reveals $175M of funds are locked in FTX

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In what it hails as an effort to be transparent, Digital Currency Group’s market maker and lending subsidiary, Genesis Trading, revealed that its derivatives business has around $175 million worth of funds locked away in an FTX trading account. Genesis shared the news in a Nov. 10 tweet thread, in which the firm clarified that the locked funds would “not impact our market-making activities.” As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX…

FTX Collapse Sparks Alarm From US Lawmakers

“For four years, under my leadership as Chairwoman, the Committee on Financial Services has led the way in examining and investigating the cryptocurrency marketplace. This includes the Committee’s formation of Congress’ first-ever Task Forces on Financial Technology and Artificial Intelligence, along with the working group on digital assets. In addition, for several months, I’ve been working around the clock with Ranking Member Patrick McHenry to craft bipartisan legislation that establishes a federal framework for stablecoins in order to begin building the safeguards needed to protect customers’ assets and insulate our…

Bahamas securities regulator freezes FTX assets

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The Bahamas Securities Commission (BSC) — the country’s securities regulator — froze the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10 and suspended FTX’s registration in the country. In a statement the BSC said it was aware of “public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to Alameda Research.” Alameda is a trading firm founded by FTX CEO Sam Bankman-Fried, a leaked balance sheet from the firm showed it held large amounts of the FTX exchanges’ native token, FTX Token (FTT), and rumors…

Cryptos Recover Slightly From FTX Fatigue With a Dose of Encouraging Inflation Data

Ether was recently changing hands over $1,300, up almost 17% from Wednesday, same time. All other cryptos in the top 20 by market capitalization were feeling more like themselves again, rising well into the double digits as FTX and inflation fatigue waned – at least temporarily. Even FTX’s beleaguered FTT token, whose accumulation by the exchange’s sister company Alameda Research ignited the current mess, was up over 50% to $3.40. Solana’s SOL, which also figured prominently on Alameda’s balance sheet, raising investor alarm, jumped more than 40%. Source CryptosdataDoseEncouragingFatigueFTXInflationRecoverSlightly CryptoX…