Tag: FTX

Crypto exchange TrigonX latest to emerge from the FTX rubble

boss

Australian crypto exchange TrigonX is the latest revival story to come out of the FTX collapse, with the exchange set to relaunch after it collapsed in December with debts exceeding $50 million. According to company director Matteo Salerno, TrigonX is earmarked for revival after a deed of company arrangement was approved by creditors, The Australian reported on May 29. Founded in 2014, the digital asset exchange was one of the many affected by the sudden collapse of the FTX in November. TrigonX appointed administrators on Dec. 16, after it was unable to meet…

Temasek Executives behind FTX Stake See Compensation Reduced

According to Temasek, despite the absence of any misconduct, both its senior management team and investment body assumed collective accountability and accepted a reduction in their compensation. Executives of Singapore investment firm Temasek Holdings who oversaw the company’s investment in FTX will have their compensation slashed. According to reports, the firm ranked second among the major external investors in the now-insolvent  FTX. The latest update comes after Temasek carried out an internal assessment of its funding six months ago. During this assessment, the investment company disclosed that certain executives and…

Temasek slashes compensation for execs responsible for its $275M FTX investment

boss

Singapore investment firm Temasek Holdings has reduced compensation for the execs responsible for the firm’s investment into the now-defunct crypto exchange FTX.  Temasek was once the second-largest outside investor of FTX, with 7 million shares, according to Forbes. The firm however was forced to answer for its investment play after the exchange collapsed. According to a May 29 report from Bloomberg, Temasek has now concluded its internal review of the $275 million investment loss incurred from FTX, which it initiated shortly after the exchange collapsed in November 2022. While the…

FTX 2.0 coming up, Multichain FUD, Worldcoin raises six figures

boss

Top Stories This Week Binance suspends deposits for bridged tokens, seeks clarity from Multichain team Crypto exchange Binance suspended deposits for 10 bridged tokens following days of uncertainty surrounding the Multichain protocol. Transactions on the cross-chain protocol have been delayed over multiple bridges in the past few days, with little information from Multichain’s team about the ongoing issues. In a tweet from May 24, Multichain said that some cross-chain routes were unavailable “due to force majeure,” noting that the time for service restoration was unclear. Binance was not the only…

FTX CEO Considering Reboot of Disgraced Crypto Exchange, According to a New Court Filing

boss

Newly filed court documents suggest FTX CEO John J. Ray III is considering restarting the bankrupt exchange’s operations. In April, Ray appeared to take part in multiple activities centered on an FTX reboot, according to a monthly compensation report filed with the U.S. Bankruptcy Court for the District of Delaware. Those activities include descriptions like “Review 2.0 next steps summary from PWP (purchase with purchase),” “Review next steps and comment on FTX restart,” “Review and finalize 2.0 reboot of exchange material for distribution,” and “Review and comment on 2.0 bidder…

Crypto Execs From Coinbase, Messari Give Washington Influence Another Go With FTX Anchor Around Necks

While that day-to-day lobbying work happens, though, millions of U.S. crypto users are eager to make sure Congress is hearing their view that “we want to keep it here and we want to have robust rules,” Quick said, which explains the efforts from business leaders to drum up grassroots campaigns. There’s room for both, she argued – the lobbyists’ usual interactions in Washington, plus whatever the industry leaders are hatching. Source

FTX 2.0 Rumors Resurface in CEO’s Legal Billings

Coinspeaker FTX 2.0 Rumors Resurface in CEO’s Legal Billings Contents from the latest billing report of the new CEO of FTX, John Ray III, have revived hopes that the bankrupt exchange may be restarted. Ray, who was appointed to steer FTX’s ship during its bankruptcy process had hinted at a possible restart in January. And now, the latest billing report suggests that work may already be underway to make FTX 2.0 a reality. Per the filing, Ray spent more than 6.5 hours on items linked to “2.0” which is thought…

FTX unveils FTX 2.0 strategy, FTT token surges 17% surge

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Under the guidance of CEO John Ray III, FTX unveiled resurrection plans in a new project known as FTX 2.0.  Documents recently filed in the United States Bankruptcy Court for the County of Delaware provide insight into the comprehensive planning and execution of the relaunch by John Ray III and his team. Ray invoiced the company’s bankruptcy estate for over $290,000. FTX also paid an extra $1.3 million to other workers who took over the exchange…