Tag: FTX

Gary Gensler on FTX Fallout and Deceptive Crypto Market

The question of what constitutes security according to US securities laws remains a very volatile issue in the crypto ecosystem today. When the FTX Derivatives Exchange imploded by filing for bankruptcy last year, Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC) was the most blamed regulator that was blamed by the public. The blame centers on the fact that there were red flags that were exhibited by the trading platform, all of which went undiscovered due to the closeness between Sam Bankman-Fried and the regulators.…

FTX Japan reports $50M in withdrawals since Feb. 21

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Bankrupt crypto firm FTX’s subsidiary in Japan has reported thousands moved from the exchange since resuming withdrawals on Feb. 21. In a Feb. 22 announcement, FTX Japan said users of the exchange and those at Liquid Global had withdrawn roughly 6.6 billion yen — $50 million at the time of publication — in cryptocurrency and fiat. According to the crypto firm, 7,026 account holders had moved funds from FTX Japan to Liquid and there were 5,697 transactions involving cryptocurrencies and 1,947 instances of users withdrawing fiat. The crypto firm said…

Former FTX CEO Sam Bankman-Fried Faces New Charges in Multi-Billion Dollar Fraud Case – Bitcoin News

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Sam Bankman-Fried (SBF), the disgraced co-founder of FTX, faces four more charges after a new indictment was unsealed on Wednesday. The charges include operating an unlicensed money transfer business and conspiring to commit bank fraud. SBF Gets 4 New Charges Tacked Onto His Indictment The former CEO of FTX was originally indicted 72 days ago by a federal grand jury in Manhattan, and prosecutors charged the crypto exchange co-founder with eight different offenses. The charges include conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to…

BREAKING! FTX Token Crashes 90% A Meteoric Collapse In The Crypto Market | Gareth Soloway

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io BREAKING! FTX Token Crashes 90% A Meteoric Collapse In The Crypto Market | Gareth Soloway In today’s video, Chief Market Strategist of Inthemoneystocks.com Gareth Soloway tells us all about his latest analysis of the charts as well as his predictions and price targets for Bitcoin, ETH, ADA, Solana, and QUANT. The drama between FTX and Binance has worried the bitcoin and crypto community who fear the clash will spillover to the wider market, Fears of contagion from the public spat between Binance…

CoinShares remains afloat despite heavy FTX losses: Q4 report

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While other hedge funds decided to close down operations after being hit by the FTX debacle, some managed to survive and stay afloat after navigating the challenges brought about by the collapse of the exchange.  In its fourth-quarter report for 2022, institutional crypto fund manager CoinShares highlighted that the firm managed to remain “financially robust” despite dealing with the FTX collapse at the end of the year. The fund also presented its wins, such as its graduation to Nasdaq Stockholm’s main market and strong levels of inflow into CoinShares physical…

FTX Bankruptcy Claims Selling at 20 Cents to 1 Dollar

As per reports, public bankruptcy markets are currently valuing distressed FTX assets at around $0.16 on the dollar. In an interesting development, the FTX bankruptcy claims are up for sale in private over-the-counter (OTC) markets. Sources familiar with the matter said that distressed fund assets can pick up these claims. FTX Bankruptcy Case Crypto exchange FTX filed for bankruptcy last year in November 2022, after its sister firm Alameda Research blew up entirely due to leverage positions. Currently, FTX and its disgraced founder Sam Bankman-Fried owe $3.1 billion to the…

FTX poked the bear and the bear is pissed — O’Leary on the crypto crackdown

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Shark Tank investor and venture capitalist Kevin O’Leary has urged crypto exchanges to “get on board with regulation” if they want to “stay out of the way” of Gary Gensler and the United States Securities Exchange Commission (SEC). In a Feb. 20 interview with TraderTV Live, O’Leary said that U.S. lawmakers are “fatigued” over crypto collapses and that they’re only going to get more ruthless if companies continue to not comply: “You got to get on board with regulation, you got to stay out of the way of Gensler at…

Crypto Hedge Fund Galois Capital Shuts Down — ‘We Lost Almost Half Our Assets to FTX Disaster’ – Featured Bitcoin News

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Crypto hedge fund Galois Capital is shutting down after losing about half of its assets to the FTX disaster. “Given the severity of the FTX situation, we do not think it is tenable to continue operating the fund both financially and culturally,” the fund’s co-founder told investors. Crypto Hedge Fund Shuts Down Due to FTX Collapse Crypto hedge fund Galois Capital is shutting down as nearly half of its assets are trapped on FTX, the collapsed cryptocurrency exchange which filed for bankruptcy in November last year. “Galois Capital is a…

Trading on major exchanges spiked following collapse of Terra, FTX: BIS report

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A report from the Bank for International Settlements (BIS) suggests that trading activity on major exchanges increased in the days following the collapse of crypto firms FTX and Terraform Labs. In a Feb. 20 bulletin on “crypto shocks and retail losses,” the BIS reports that while the price of Bitcoin (BTC), Ether (ETH) and other currencies dropped in 2022, the number of daily active users at some exchanges including Coinbase and Binance “increased markedly” following news of the collapse of Terra and FTX. The bank suggested that “users tried to weather…