Tag: FTX

Binance CEO Explains Situation With FTX — Says ‘We Did Not Master Plan This’ – Exchanges Bitcoin News

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Binance CEO Changpeng Zhao (CZ) has shared where his company is at on the deal with FTX. “We did not master plan this or anything related to it,” he told the Binance team, reminding them not to trade the FTX token (FTT) as the due diligence for the acquisition is still ongoing. He further stressed that “FTX going down is not good” for anyone in the crypto industry, warning that regulators will “scrutinize exchanges even more.” Binance’s CEO Informs Employees About FTX Deal The CEO of cryptocurrency exchange Binance, Changpeng…

Singapore’s Temasek engages with FTX in liquidity crisis

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Singapore’s state-owned investment firm Temasek, a shareholder at FTX, is reportedly engaging with the cryptocurrency exchange in the liquidity crisis that led to its unexpected (and still pending) bail out on Nov 8. In comments to Reuters, the sovereign wealth fund said it was “aware of the developments between FTX and Binance, and are engaging FTX in our capacity as shareholder,” avoiding providing further details about the case impacts on its portfolio. Temasek invested in a series of FTX’s round findings that led to the exchange’s $32 billion valuation in…

Bitcoin sinks to new yearly low at $16.8K as FTX insolvency fears turn into contagion

Crypto markets crumbled for a second day as the fallout from FTX’s liquidity troubles continued to negatively impact investor sentiment.  Bitcoin (BTC) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX’s books, Binance could back out of their agreement to acquire the beleaguered exchange. Crypto market performance. Source: Coin360.com Other factors having a potential impact on the market is a wave of successive liquidations in Solana’s DeFi markets. Earlier in the day, Crypto.com exchange emailed its users to…

US Regulators Probing FTX Handling of Customer Funds: Bloomberg

The inquiries by the Securities and Exchange Commission and Commodity Futures Trading Commission date back several months and started as a probe into the crypto lending activities of FTX’s U.S. counterpart, FTX US. But the investigations are related to the issues that have caused FTX’s current liquidity crisis and look at the relationship between FTX.com, its trading house Alameda Research and FTX US, according to Bloomberg’s report. Source

Galaxy Digital discloses $77M exposure to FTX, $48M likely locked in withdrawals

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In its latest quarterly earnings call on Nov. 9, blockchain financial services firm Galaxy Digital disclosed that it had an exposure of $76.8 million consisting of cash and digital assets to troubled cryptocurrency exchange FTX. Of this amount, Galaxy Digital said that $47.5 million are currently in the withdrawal process. The day prior, FTX announced it had halted all withdrawals after the combination of a consumer bank run and a devastating price decline in its native FTT token, which the exchange uses for collateral, led to a liquidity crisis.  Despite…

In staff letter, Binance CEO embraces scrutiny from regulators amid potential FTX deal

Changpeng Zhao, the chief executive officer of crypto exchange Binance also known as “CZ,” warned users its intention to acquire FTX may invite scrutiny from global regulators — but the firm is ready. In a letter to Binance staff tweeted on Nov. 9, CZ said though the deal to acquire another major crypto exchange was still in the works, regulators would likely “scrutinize exchanges even more” and make it difficult to acquire operating licenses. He added that if the deal resulted in FTX going down, it would be a loss…

Bitcoin Falls to $17000…Sam Bankman-Fried Deletes Tweet About FTX Assets

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Today Bitcoin dumped to $17000 due to fears about FTX’s collapse. Sam Bankman-Fried secretly deletes tweet about user holdings…what does this mean? 🔒 (10% Ledger Coupon: NYKNYC) Safeguard Your Bitcoin and Crypto w/ Ledger Wallet 🔥Buy & Trade Crypto w/o KYC on MEXC ($9100 Bonus) 🟪Buy Bitcoin & Crypto with IRA/401k w/ItrustCapital ($100 Bonus) 🚨Protect Your Online Presence w/ NordVPN ✅Join Sorare and Compete for Free NFTs: ✅Trade 300+ Crypto on Kucoin ($500 Bonus): Follow these other great channels from George :…