Tag: FTX

FTX bolsters claims portal security measures following cyber breach

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Bankrupt cryptocurrency exchange FTX has restored its customer claims portal, which was previously shut down due to a cyber attack. Claimants can now continue to submit asset claims they held on the exchange before it became insolvent.  On September 16, FTX made a statement on X (formerly Twitter), confirming that none of its systems were affected by the cyber breach involving its appointed bankruptcy claims agent, Kroll. FTX provided the following update regarding the recent Kroll cybersecurity incident. Claimants may now resume activities on our platform: https://t.co/DkYi2hDLbI. pic.twitter.com/Nfob4QQxjv — FTX…

Paxos’ $500K Bitcoin fee, FTX tokens sales set to begin, and more

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Top Stories This Week Paxos confirms it’s responsible for paying a $500K Bitcoin transaction fee The Bitcoin miner who received 19.8 BTC in fees from blockchain infrastructure firm Paxos has returned the funds following Paxos’ claim that it made a mistake in paying over $500,000 in transfer fees. On Sept. 10, Paxos paid the six-figure fee to move $2,000, with the average network fee typically being around $2. The company later acknowledged the mistake, confirming the transfer came from its servers. Almost a day after Paxos’ claims, the Bitcoin miner…

Jaguars quarterback Trevor Lawrence reaches resolution in FTX endorsement lawsuit

Jacksonville Jaguars quarterback Trevor Lawrence, who previously endorsed the now-defunct FTX, is ready to pay settlements to clear his name. Lawrence is among the list of famous names who promoted FTX and is currently facing charges related to the fall of the exchange. Lawrence, high-profile figures embroiled in FTX scandal Lawrence is set to settle allegations surrounding his endorsement of the now-defunct FTX cryptocurrency exchange. This settlement, which also includes YouTube influencers Kevin Paffrath and Tom Nash, forms part of a legal battle involving sports figures accused of participating in…

Solana Gains 5% Despite CPI Latest Data And FTX Liquidation Approval

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Solana (SOL) has recorded a 5% gain in the last 24 hours amidst certain concerning developments in the crypto space. On Wednesday, the United States published its Consumer Price Index (CPI) data for August, which shows that inflation rose from 3.2% to 3.7%, higher than the predicted outcome by analysts. In addition, the bankrupt FTX exchange obtained court approval to liquidate its crypto holdings worth $3.4 billion as it looks to offset its debt. Normally, developments such as this are expected to induce a selling pressure on crypto assets.  However, the…

Bitcoin ignores CPI, FTX as BTC price hits September high near $26.6K

Bitcoin (BTC) hit new September highs after the Sep. 14 daily close as markets digested macroeconomic and crypto industry news. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin market “feels different” Data from Cointelegraph Markets Pro and TradingView tracked overnight BTC price highs of $26,535 on Bitstamp. The largest cryptocurrency had shaken off higher-than-expected United States Consumer Price Index (CPI) the day prior, maintaining $26,000. Subsequent confirmation that defunct exchange FTX had received legal permission to liquidate its remaining assets likewise failed to dent Bitcoin’s comparatively solid intraday performance. At the…

Court approves sale of FTX digital assets

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The Delaware bankruptcy court has approved the sale of FTX digital assets. Judge John Dorsey made the ruling at a hearing on Sept. 13. Major changes were made to the order authorizing the sale on the previous day. FTX will be allowed to sell digital assets excluding Bitcoin (BTC), Ether (ETH) and “certain insider-affiliated tokens” in weekly batches through an investment adviser under pre-established guidelines. There will be limits of $50 million for the first week and $100 million in subsequent weeks. There will be an option to increase the…

FTX Secures Court Approval to Sell Crypto Holdings, Including BTC and SOL

FTX submitted a filing requesting permission to engage in these activities in August, arguing that hedging its crypto assets would “allow the Debtors [FTX] to limit potential downside risk prior to the sale of such bitcoin or ether,” while “staking certain digital assets … will inure to the benefit of the estates – and, ultimately, creditors – by generating low risk returns on their otherwise idle digital assets,” according to the filing by FTX’s lawyers. Source