Tag: FTX

‘We were worried about ecosystem startups’ — Solana co-founder on FTX collapse

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The infamous collapse of FTX sent shockwaves through the broader cryptocurrency space in 2022, but the Solana ecosystem was particularly hard hit in the fallout. Speaking exclusively to Cointelegraph at the latest edition of the Solana Breakpoint conference hosted in Amsterdam, Solana co-founder and Solana Labs CEO Anatoly Yakovenko recalls his concern for several projects that were building on the layer-1 smart contract blockchain protocol. “I was more worried about the ecosystem of startups; we didn’t know how exposed teams were,” Yakovenko explained. Solana’s native token, SOL (SOL), saw a…

Sam Bankman-Fried Guilty on All 7 Counts in FTX Fraud Trial

Bankman-Fried, 31, was arrested last December and tried on allegations of defrauding FTX investors and customers, and Alameda Research’s lenders. The once-prominent crypto exchange CEO pleaded not guilty to all charges, and went to trial at the beginning of October, where federal prosecutors sought to paint him as someone who deliberately set out to steal his customers’ funds – around $8 billion – for use in a variety of purchases and investments, including real estate, sports sponsorships and venture investments. His defense team argued that Bankman-Fried was an overworked businessman…

Sam Bankman-Fried “doubled down” by buying Binance’s stake in FTX — U.S. prosecutors

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Federal prosecutors claimed Sam “SBF” Bankman-Fried “doubled down” on the use of customers’ funds when he purchased Binance’s $2 billion stake in FTX in 2021. According to U.S. government attorneys, Bankman-Fried paid for the buyout with funds from FTX customers. The prosecution is delivering its closing arguments on Nov. 1 at the Southern District Court of New York, where Bankman-Fried’s trial has been taking place since Oct. 3. Jurors in the case reportedly heard from ​​Assistant U.S. Attorney Nicolas Roos: “The defendant had a choice: come clear or double down?…

FTX and Alameda Research Moves $13.1M in Crypto to Other Exchanges

The new developments come after a court-mandated phased liquidation process, enabling FTX to sell digital assets worth a total of $3 billion on a weekly basis.  A flurry of activity in the crypto space last night grabbed the attention of industry watchers as the wallets associated with bankrupt crypto exchange FTX and its sister company Alameda Research transferred around $13.1 million in various digital assets to multiple exchanges overnight. Data from Spotonchain revealed that the exchange sent a total of  $8.12 million worth of cryptocurrencies to Coinbase including 46.5 million…

FTX and Alameda Research wallets send $13.1M in crypto to exchanges overnight

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The crypto wallets linked to now-defunct crypto exchange FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous crypto exchanges early on Nov. 1. According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000). FTX and Alameda linked crypto deposit on Coinbase. Source: SOC The wallet addresses of FTX and Alameda Research made another $5.49 million…

FTX Transfers $150M In Assets, Including Ethereum And Solana, Amid Bankruptcy

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Blockchain analytics firm Nansen has recently revealed that wallets associated with bankrupt crypto exchange FTX have transferred approximately $156 million worth of digital assets, including Ethereum (ETH) and Solana (SOL), in a series of transactions over the past week.  The movement of these funds has raised concerns and attracted the attention of industry experts and investors. Nansen’s report sheds light on the ongoing transfers and provides valuable insights into the extent of FTX’s asset movements. Bankrupt FTX Wallets Unstake $57 Million Worth Of SOL Tokens According to the Nansen report,…