Tag: FTX

Circle CEO Jeremy Allaire Says Stablecoin-Issuer Not Affected by Troubles at Crypto Exchange FTX

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The CEO of USD Coin (USDC) issuer Circle says that crypto exchange FTX’s liquidity issues bear no significant impact on the stablecoin company. Jeremy Allaire says that Circle provides services to both FTX and Alameda Research, the quantitative crypto trading firm founded by FTX CEO Sam Bankman-Fried. “Circle has no material exposure to FTX and Alameda. FTX has been a customer of Circle Payment APIs for the past 18 months, providing card and ACH services for customer transactions. Circle’s crypto payments beta product uses FTX and other exchanges, for BTC/ETH…

The Role Regulators Played in the FTX Fiasco

Armstrong is protecting his own interests here, now that figures like Sen. Elizabeth Warren (D-Mass.) and Gensler are calling for tighter regulation of U.S. exchanges. Clearer rules are clearly needed but have to be done right. Given the inherently borderless nature of crypto, if regulators get overly burdensome, they would only succeed in creating the next Singapore-based Terra or Bahamas-based FTX. “[P]unishing U.S. companies for this makes no sense,” Armstrong added. Source

Republican lawmaker claims SEC chair was coordinating with FTX ‘to obtain regulatory monopoly’

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Tom Emmer, the recently re-elected Republican lawmaker representing Minnesota’s 6th district in the United States House of Representatives, has alleged Securities and Exchange Commission chair Gary Gensler had been helping FTX CEO Sam Bankman-Fried to gain a “regulatory monopoly” through the crypto firm. In a Nov. 10 tweet, Emmer criticized Gensler for “run[ning] to the media” amid FTX’s liquidity issues causing ripples throughout the crypto market. According to the Republican lawmaker, his team was looking into the SEC chair’s alleged collaboration with Bankman-Fried and FTX, but only cited reports presented…

JPMorgan registra una ola de desapalancamiento por los problemas de FTX

JPMorgan dijo que los inversores potencialmente pueden buscar un fondo en los precios de bitcoin (BTC) a través de su costo de producción, que a veces actúa como un piso. El costo de producción actual es aproximadamente US$15.000, aunque es probable que vuelva a US$13.000, como ya se registró hace pocos meses, lo que implica una caída de alrededor de 25%, destacó el banco. Source

Reports Claim Beleaguered Crypto Exchange FTX Seeks Over $9 Billion From Investors – Bitcoin News

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On Nov. 10, 2022, two reports said that FTX CEO Sam Bankman-Fried (SBF) is canvassing for emergency funds up to $9.4 billion for the embattled exchange. One report says that SBF has solicited crypto companies like Tether, OKX, and Tron founder Justin Sun as well. FTX Is Reportedly Seeking Up to $9.4 Billion in Funding While FTX CEO Sam Bankman-Fried (SBF) updated the crypto community and said that he and his team would be seeking funds from investors, two reports say SBF is seeking up to $9.4 billion in financing.…