Tag: FTX

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,…

SBF says spending FTX customers’ money was part of ‘risk management’: Report

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Sam Bankman-Fried (SBF), the founder of cryptocurrency exchange FTX, claims that spending clients’ fiat deposits was just part of “risk management” for his intertwined crypto hedge fund Alameda Research. During the former crypto executive’s court testimony on October 31, prosecutor Danielle Sassoon of the Southern District of New York asked SBF if he believed that it was permissible to spend $8 billion of FTX customers’ fiat money. “I thought it was folded into risk management,” he said. “As CEO of Alameda, I was concerned with their portfolio. At FTX, I…

Sam Bankman-Fried Retakes Stand After Rough Cross-Ex in FTX Fraud Trial

The failed cryptocurrency exchange’s founder has so far tried to present an alternative explanation of how one of the world’s better-known trading platforms collapsed, suggesting it grew too quickly and without sufficient oversight or risk planning. However, prosecutors – led by Assistant U.S. Attorney Danielle Sassoon – have quickly sought to puncture that narrative, grilling Bankman-Fried about his involvement in FTX and its sister company Alameda Research, his public statements and whether he was permitted to use FTX customer funds, one of the key issues at the heart of the…

Sam Bankman-Fried Blames Ex-Girlfriend Caroline Ellison for Downfall of FTX

According to SBF, Ellison’s failure to hedge Alameda’s financial positions was a major contributing factor in the FTX’s financial troubles. In a dramatic turn of events at the ongoing criminal trial of FTX founder Sam Bankman-Fried, the renowned crypto entrepreneur pointed fingers at his former close associates, especially Caroline Ellison, his ex-girlfriend and former CEO of Alameda Research, for the downfall of his crypto empire. During his recent testimony on Monday, Bankman-Fried retook the stand where he and his defense team, led by Mark Cohen, talked about hedging, explicitly focusing…

FTX Africa ambassadors face violent threats from community 

Brand ambassadors for FTX Africa are now facing life-threatening situations and public backlash following the platform’s financial collapse. Brand representatives for the bankrupt FTX Africa are encountering life-endangering challenges, with several reporting serious threats against them. The representatives were initially tasked with increasing the user base for FTX Africa, receiving a share of the user trading fees along with performance-based monthly incentives. FTX Africa’s official Telegram group once boasted a membership exceeding 10,000. Pius Okedinachi, who formerly oversaw educational efforts at FTX Africa, recounted his experience to CryptoX, noting that…

Sam Bankman-Fried Tells Jury ‘Run on the Bank’ Felled FTX

Bankman-Fried has argued throughout his testimony that he had a vague picture of his empire’s finances in the run-up to FTX and Alameda’s collapse, and he said that by November 2022, when he tweeted, he still believed that FTX didn’t have any “hole” in its balance sheet, and Alameda still had assets in excess of liabilities. Source

FTX And Alameda Addresses Move $80 Million In Crypto Over The Past Week

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According to the latest on-chain data, wallet addresses linked to the now-bankrupt FTX exchange and Alameda Research have transferred substantial amounts in crypto assets over the past week. This series of funds movement was first brought to the limelight by prominent blockchain analytics firm Nansen, who reported that more than $60 million had been moved. However, further on-chain revelation shows that nearly $80 million has been moved from FTX- and Alameda-linked addresses in the previous week. Nansen Uncovers FTX And Alameda’s $60 Million Transfer On Friday, October 27, Nansen disclosed…