Tag: FTX

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…

Embattled Crypto Exchange FTX Lent Billions in Customer Assets To Fund Alameda Research: Report

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A new report claims that troubled crypto exchange platform FTX lent billions of dollars worth of its customers’ assets to fund its quantitative trading branch. According to The Wall Street Journal, FTX CEO and founder Sam Bankman-Fried told investors that Alameda Research owes FTX about $10 billion worth of customer funds. The source says that Bankman-Fried gave out loans to Alameda Research using $10 billion out of the $16 billion in customer deposits FTX had, a move the CEO described as a “poor judgment call.” Bankman-Fried, who was also the…

SEC, DOJ Investigate FTX — Regulators Suspect Crypto Exchange Mishandles Customer Funds – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance walked away from the acquisition of FTX. U.S. Regulators and DOJ Investigate Crypto Exchange FTX Several U.S. authorities are reportedly probing FTX, the embattled cryptocurrency exchange founded by Sam Bankman-Fried. The U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are looking into the turmoil surrounding…

FTX Assets Frozen by Bahamian Regulator

“The commission is aware of public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to Alameda Research. Based on the commission’s information, any such actions would have been contrary to normal governance, without client consent and potentially unlawful,” the commission said in its release. Source