Tag: FTX

Billionaire Sam Bankman-Fried Says FTX Crypto Platform Has No Plans To Acquire Rival Exchange Huobi

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FTX chief executive Sam Bankman-Fried says his firm has no plans to acquire Seychelles-based crypto exchange platform Huobi. Bloomberg reported earlier this month that Huobi founder Leon Li was in talks with investors to sell his roughly 60% stake in the company. Anonymous sources “familiar with the matter” told Bloomberg that Sam Bankman-Fried and Tron founder Justin Sun were among the people who showed interest in purchasing the shares. Sun, however, promptly denied “engaging in any matters” relating to the Bloomberg story. The Huobi corporate Twitter account responded to Sun’s…

Busan City announces FTX partnership to build local exchange

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South Korea’s second-largest city Busan has announced a partnership with crypto trading platform FTX to build a local crypto exchange and foster blockchain development. Sam Bankman-Fried’s FTX will assist in creating the Busan Digital Asset Exchange as per an official statement from the Busan Metropolitan City on Aug. 30. The Bahamian-based firm will also support the city in fostering the growth of the local blockchain industry. Busan City will make use of FTX’s technology and infrastructure to establish its own cryptocurrency exchange. FTX is also set to be involved in promoting…

FTX and Busan Reaches Deal to Accelerate Blockchain Businesses

The South Korean city of Busan and FTX cryptocurrency exchange has signed a business deal to support the establishment of Busan Digital Asset Exchange. According to the agreement statement, FTX will help the South Korean city build its own exchange called the Busan Digital Asset Exchange and provide it with technical and infrastructure support. Despite the adverse events surrounding the cryptocurrency ecosystem that has seen the closure of several crypto companies, FTX continues to stand at a high level and the transactions signed to continue to appreciate the public profile of…

DOLARLARI SATIYORLAR / BİTCOİN İÇİN KRİTİK HAFTA / BİTCOİN SON DURUM ANALİZİ

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Sam Bankman-Fried denies report FTX plans to purchase stake in Huobi

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Global crypto exchange FTX will not be acquiring a majority stake in Huobi, according to CEO Sam Bankman-Fried, or SBF.  In a Monday tweet, SBF explicitly denied a Bloomberg report that claimed FTX was planning to purchase crypto exchange Huobi. Cointelegraph reported on Aug. 12 that Huobi co-founder Leon Li was considering selling his majority stake, valued at more than $1 billion, in the company. “We are not planning to acquire Huobi,” said SBF. Just to be explicit because apparently a lot of people are saying this: No, we are not…

Silver Supply Crunch Predictions, FDIC Issues Cease and Desist Order to FTX US, and More — Bitcoin.com News Week in Review – The Weekly Bitcoin News

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Morgan Report founder David Morgan foresees a supply crunch for silver, and says that in ten years’ time, it will be one of the best investments of the decade. One analyst, however, says if the precious metal falls below $18, it’s “very possible that we could see silver get absolutely smoked.” In other news this week, the Federal Deposit Insurance Corporation (FDIC) has issued a crypto-related cease and desist order to popular cryptocurrency exchange FTX US, and four others. All this and more, in the latest Bitcoin.com News Week in…

Regulators have a weak case against FTX on deposit insurance

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In a cease-and-desist letter to fast-growing crypto exchange FTX, the Federal Deposit Insurance Corporation (FDIC) shed light on a now-deleted tweet from the exchange’s president, Brett Harrison, and issued a stark warning over the company’s messaging. Harrison’s original tweet said, “Direct deposits from employers to FTX US are stored in individually FDIC-insured bank accounts in the users’ names.” He added, “Stocks are held in FDIC-insured and SIPC [Security Investor Protection Corporation]-insured brokerage accounts.” Although Harrison stewarded FTX to its best-ever year in 2021, increasing revenue by 1,000%, the firm now…

WARNING! Time To Leave Coinbase?!

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Alameda Research and FTX merge VC operations: Report

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Sam Bankman-Fried’s cryptocurrency exchange FTX’s investment arm has reportedly absorbed the venture capital operations of Alameda Research in response to the ongoing crypto bear market. According to a Thursday Bloomberg report, Alameda’s Caroline Ellison said in an interview that the merger had happened prior to former co-CEO Sam Trabucco announcing his resignation on Wednesday, leaving Ellison as the firm’s sole CEO. The investment arm of the crypto exchange, FTX Ventures launched in January — when the absorption of Alameda reportedly began — with $2 billion in assets under management. BREAKING:…