Tag: FTX

Solana overcomes FTX fiasco — SOL price gains 100% in Q1

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The price of Solana (SOL) fell nearly 95% in 2022, partly due to its association with tainted crypto entrepreneur Sam Bankman-Fried and his collapsed ventures FTX and Alameda Research. But so far in 2023, things have improved for the SOL price. Solana price doubles in Q1/2023 Solana’s price has risen 104% to around $20.60 per SOL in the first quarter of 2023, the highest gains compared to any cryptocurrency in the top-25, including Bitcoin (BTC) and Ether (ETH). Solana beats top-ranking assets’ Q1/2023 returns. Source: Messari In fact, January was Solana’s…

FTX EU Launches New Website to Help European Customers Regain Lost Funds

CySEC directed FTX EU to halt all its operations on November 9, 2022. The European arm of FTX, FTX EU, has just opened a new website where customers in Europe may lay claims to their lost funds. The move, which is meant to give relief to customers, comes four months after the large-scale collapse of the FTX exchange in November. FTX EU Bags Regulatory Approval to Launch According to a Finance Magnates report, the new website was approved by the Cyprus Securities and Exchange Commission (CySEC). However, the website will be…

FTX launches new fiat withdrawal website for EU customers

FTX EU, a subsidiary of the bankrupt crypto exchange FTX, has launched a new website that allows customers to withdraw their fiat balances from the platform.  According to reports, the ftxeurope.eu will only manage fiat balance claims, and no other services will be available. The recently launched website is registered with the Cyprus Securities and Exchange Commission (CySEC). FTX EU has regional headquarters in Cyprus and Switzerland. CySEC revoked the firm’s operating license in November 2022 following the broader collapse of FTX and Alameda Research. The suspension was due to…

Ledger sees funding success in wake of FTX collapse

The recent collapse of FTX has increased interest in Ledger’s secure storage solutions and led to its recent funding success. The cryptocurrency ecosystem experienced a major shake-up following the FTX collapse, as investors rapidly sought safer storage alternatives for their digital assets. The shift in market sentiment resulted in a significant increase in demand for hardware wallets and self-custody options. In particular, Ledger, a leading manufacturer of hardware wallets, witnessed a surge in sales and subsequently secured a substantial portion of a $100+ million investment round. As the FTX collapse…

FTX EU launches withdrawal website to pay back European users

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The European arm of FTX, FTX EU has launched a website to allow European customers to submit withdrawal requests. It comes nearly five months after the global trading platform collapsed and went bankrupt in early November. The new website domain name — https://ftxeurope.eu/ — was reportedly approved by the Cyprus Securities and Exchange Commission according to a report in Finance Magnates. A screenshot of the newly launched website to withdraw funds from FTX EU. Source: FTX Europe The new domain will not offer any products or services other than to…

Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors – Bitcoin News

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Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured Creditors Oppose Sam Bankman-Fried’s Request for D&O Funds Sam Bankman-Fried (SBF), the former CEO of FTX, is seeking access to a $10 million legal insurance fund to cover his defense expenses. The filing notes that…

FTX Founder Sam Bankman-Fried Pleads Not Guilty to Latest Bribery Charge

Federal prosecutors also took time at Thursday’s hearing to discuss their progress reviewing the contents of seven electronic devices produced by Bankman-Fried. Prosecutors told the judge the process was going slower than expected due to the size of the devices and the amount of information. So far, approximately 6 million pages of documents have been produced in the case. One device, identified as Laptop B, is a sticking point for Bankman-Fried’s defense. Source

FTX lawyers, creditors slam SBF’s petition to get legal fees reimbursed

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Sam Bankman Fried’s new petition to have his legal expenses reimbursed has been met with fierce objection from lawyers representing the crypto exchange and its creditors committee. As per previous reporting by Cointelegraph, Bankman-Fried’s lawyers had filed a motion on March 15 seeking to have his court costs covered by directors and officers (D&O) insurance policies, which if approved by the judge would see him placed at the top of the payout queue. Defense costs are covered in most policies (after a deductible) but insurers have provisions for selection of…

Former FTX CEO Sam Bankman-Fried Faces New Bribery Charges for Alleged Crypto Payment to Chinese Officials – Bitcoin News

Sam Bankman-Fried (SBF), the former CEO of FTX, now faces a 13-count indictment as U.S. officials have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government officials.” Details of the Bribery Charges Against Sam Bankman-Fried Sam Bankman-Fried (SBF), the co-founder and former CEO of FTX, now faces charges of bribing Chinese government officials. “Bankman-Fried and others agreed to pay cryptocurrency to one or more foreign officials in China to influence and induce them to unfreeze the accounts in…