Tag: FTX

FTX Digital Markets Assets Frozen by Bahamian Regulator: Bloomberg

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BITCOIN Has No Payments Future Says FTX CEO – Goldman Sachs Crypto Investment

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io FTX CEO says Bitcoin has no future as a payments network. Terra LUNA sells 80,000 Bitcoin. Dawn Capital, Goldman Sachs plow $70M into crypto infrastructure provider. Sponsors 🌟 Linqto – 🌟 iTrust Capital – — 🔥 Sign Up with Okcoin 🚀 Get the Ledger Nano X to Safely store your Crypto – ✅ Become a Channel Member – 💥 Sign up for the Free Thinking Crypto Weekly Newsletter 💥 Easily do your Crypto taxes, I personally use this service – 💥 Sign…

FTX crisis feeds the Twitter rumor mill with hot takes and conspiracy theories

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Events are unfolding fast as the cryptocurrency market is rocked again, this time by FTX. Facts and non-facts are hard to sort out under these conditions, especially since both seem to be depegged from believability at times. “Where’s the money?” and “Who’s to blame?” are popular talking points. Some of the information appearing is indisputably false, or at least highly speculative. The situation has given rise to the opportunity to tell wild tales, such as this tweet that appeared (and disappeared) on Nov 10: A very fake tweet, which has…

White House says ‘prudent regulation of cryptocurrencies‘ is needed, hinting at situation with FTX

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The White House said the administration of United States President Joseph Biden is monitoring the situation with the recent crypto market crash but deferred to independent regulators for any potential enforcement actions. In a Nov. 10 press briefing, White House Press Secretary Karine Jean-Pierre said Biden was aware of the ongoing situation with the crypto market, hinting at FTX’s liquidity crisis. According to the press secretary, the administration and financial agencies will “closely monitor” developments. “The administration […] has consistently maintained that without proper oversight, cryptocurrencies risk harming everyday Americans,” said…

FTX turmoil increases scrutiny of industry, something institutional investors have been waiting for

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The recent liquidity crisis at FTX will increase regulatory scrutiny in the crypto industry, which is what institutional investors are seeking, a number of sources told Cointelegraph on Nov. 10. “This event will be used as a cornerstone to spark new crypto regulations, which is good for the healthy development of the industry. A more comprehensive regulatory framework has the potential to protect long-term investors from fraud and other risks,” stated Julian Hosp, co-founder and CEO of Cake DeFi. As a matter of fact, October was a significant month for…

FTX US announces it may halt trading on its platform in a few days

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In a long apology issued by the CEO of FTX, Sam Bankman-Fried, also popularly known as SBF, he assured the crypto community that the recent turn of events was only going to affect FTX international. According to him “FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow.” He assured users that FTX US was “100% liquid” and that “Every user could fully withdraw (modulo gas fees etc)”.  19) A few other assorted comments: This was about FTX International. FTX US, the US based…

Major VC Firm Sequoia Capital Marks FTX Investment to $0 — Says ‘Liquidity Crunch Has Created Solvency Risk for FTX’ – Exchanges Bitcoin News

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Venture capital giant Sequoia Capital is marking its investment in the embattled crypto exchange FTX down to $0. “In recent days, a liquidity crunch has created solvency risk for FTX,” the firm stressed, adding that “The full nature and extent of this risk is not known at this time.” Sequoia Capital Deems Its Investment in FTX Worthless Sequoia Capital sent a letter to its partners Wednesday informing them about its investment in cryptocurrency exchange FTX. The venture capital firm wrote: In recent days, a liquidity crunch has created solvency risk…

FTX CEO Sam Bankman-Fried Tells Investors the Troubled Exchange Needs Cash To Avoid Bankruptcy: Report

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The CEO of the cash-strapped FTX crypto exchange is reportedly warning investors that the company will collapse if it fails to get additional capital. Citing a person familiar with the matter, Bloomberg reports that FTX CEO Sam Bankman-Fried informed investors that his embattled firm may file for bankruptcy if it does not get the money needed to cover an up to $8 billion shortage. FTX reportedly needs to get at least $4 billion to remain solvent and Bankman-Fried is trying to raise funding in the form of debt, equity or…

FTX US resigns from the Crypto Council for Innovation

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United States-based exchange FTX US has left its position at the crypto advocacy group Crypto Council for Innovation, or CCI. In a statement to Cointelegraph on Nov. 10, CCI CEO Sheila Warren said the council had accepted FTX US’ resignation as an associate member of the group. The firm’s departure came amid crypto exchange FTX reporting liquidity issues, leading to volatility across the market and concerns from global regulators and lawmakers. “We remain committed to working towards building regulation that protects users and safeguards innovation, in order to bring about…

Bitcoin Price Outlook for November — FTX Crisis Fuels Bearish Momentum – Market Updates Bitcoin News

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It’s fair to say that the first ten days of November have been nothing short of historic in cryptocurrency markets. The turmoil surrounding FTX, and its all-but-confirmed collapse, seems to have eclipsed both Luna and Celsius, who also capitulated earlier this year. The impact of this has been felt by bitcoin, which recently fell below $16,000 for the first time in two years. Current Market Status Cryptocurrency prices have been in free fall to start the month, as the FTX collapse has triggered a significant level of bearish sentiment. Traders…