In his thread, Bankman-Fried tried to explain his company’s situation, saying FTX “poorly” labeled bank-related accounts internally, and so he misjudged users’ margins. Customers withdrew $5 billion worth of assets on Sunday, but had the liquidity to support only 80% of that, with leverage 1.7 times what FTX had. Source
Cryptocurrencies continued to crash on Thursday, as market sentiment surrounding the FTX saga remained on the minds of traders. Bitcoin fell below $16,000 late on Wednesday, with prices remaining close to two-year lows today. Ethereum slipped below $1,100, with attention now focused on today’s U.S. inflation report. Bitcoin Bitcoin (BTC) continued to trade close to a two-year low on Thursday, as market sentiment remained bearish following the FTX collapse. This, in addition to today’s U.S. inflation report, led to an increased level of bearish pressure, which sent the token below…
While information leaks and unconfirmed reports can be a way for the truth to reach the public, they can also be a tool that fans the flames to grow even further in an already burnt-out crypto market. In a recent article, Reuters claimed that FTX used some of its customer deposits to support Alameda Research from its financial difficulties. Apart from this, the mainstream media outlet also described Binance pulling out of the FTX acquisition as a “failed bid to save crypto.” Apart from this, a message from FTX CEO…
The crypto market is still seems to be in the grasps of FTX and Alameda. Currently, rumors are circulating that Tether’s stablecoin USDT might be more affected by the downfall of FTX than it would like to admit. Moreover, there currently seems to be an attack on USDT as a result of which Tether (USDT) briefly lost its usual peg to $1. The largest stablecoin by market cap was trading at $0.9915 temporarily, down 0.68%. Sam Bankman-Fried company Alameda, which borrowed $250,000 USDT from Aave and exchanged it on Curve…
The raise could end up being for FTX International and FTX US combined. Source
Sam Bankman-Fried transfirió al menos US$4000 millones de fondos de FTX garantizados por activos que incluyen el token del exchange, FTT, y acciones de la plataforma de trading Robinhood Markets Inc (HOOD) para dar asistencia a Alameda Research tras una serie de pérdidas por acuerdos que sufrió la empresa, según tres personas familiarizadas con el tema que aparecen en el informe de Reuters del jueves. Source
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Claire Huang, a business writer for The Straits Times (TST), reported that a Temasek Holdings spokesperson had been speaking with FTX as of Nov. 9, 2022. Founded in 1974, Singapore’s state-owned holding firm Temasek’s assets under management (AUM) are expected to be valued around S$403 billion as of 2022. The spokesperson told Huang that they are “aware of the developments between FTX and Binance, and are engaging FTX in (their) capacity as a shareholder.” The news comes after Binance CEO Changpeng “CZ” Zhao publicly stated that his business would purchase FTX, with details…
Crypto lender Hodlnaut has been dealt another blow in its pursuit for recovery after it emerged that it has $18 million stuck on FTX, the crypto exchange that halted withdrawals earlier this week. Source
The exchange is facing an acute liquidity crisis. Source