Tag: FTX

FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate – Bitcoin News

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On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share the news. FTX Uncovers $5.5 Billion in Liquid Assets Through ‘Herculean Investigative Effort’ FTX has discovered $5.5 billion in liquid assets, according to a press statement released at 2:40 p.m. Eastern Time, Tuesday. The debtors,…

FTX Identifies $415 Million Hack amongst Recoverable $5.5 Billion Digital Assets

Embattled crypto exchange FTX fingered a $415 million hack from November as part of assets recovered to pay off creditors. Fallen crypto exchange FTX has identified a $415 million crypto hack as part of the $5.5 billion worth of digital assets for recovery. In a statement, the exchange’s new CEO, John Ray III, said it took extensive investigative efforts from the team to achieve this revelation. On Tuesday, FTX also provided further details revealing that it had recovered $1.7 billion in cash and $3.5 billion in liquid crypto. In addition, the former second-largest crypto…

Bitcoin Recovers All Loses since FTX Collapse as Analysts Ponder Future Price Trajectory

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Leading crypto asset Bitcoin has been on the mend since the FTX bankruptcy situation and is now riding a two-month high. Bitcoin (BTC) has recouped all losses incurred since the catastrophic FTX collapse last November. The leading digital currency recently hit a new post-FTX high, holding firm at over $21K for the last two days. This is well above Bitcoin’s November 2nd price of $20,283. Bitcoin’s price jumped more than 22% in the last seven days, about the same decline it suffered between November 7th and November 8th. At the time of…

Which tokens could FTX dump on the market?

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The new management of the bankrupt FTX exchange has identified $5.5 billion in assets that can be used to repay creditors, sparking fears a large swathe of crypto assets could be dumped on markets. On Jan. 17, FTX debtors identified $3.5 billion in crypto assets with $1.6 billion associated with the bankrupt exchange. The best known holdings are Solana’s SOL and FTX exchange token FTT, along with liquid assets including XRP, DOGE, Aptos (APT), Polygon (MATIC), TON, and BitDAO (BIT). Liquidators valued the tokens at the time of the bankruptcy…

Bitcoin Holds Strength Above $21K, Congress’ FTX Problem

More than one in three of the 535 senators and representatives in the U.S. Congress showed up to the new session with FTX baggage, having received campaign support from one of the senior executives of the fraud-ridden crypto giant, according to the latest report by CoinDesk’s Jesse Hamilton, Cheyenne Ligon and Elizabeth Napolitano. Source

FTX Debtors Give Details on Digital Assets Identified So Far

With respect to FTX US, the debtors have identified roughly $181 million of digital assets, “$90 million of which was subject to unauthorized third-party transfers post-petition, $88 million of which is in cold storage under the control of the FTX Debtors, and $3 million of which is pending transfer to cold storage under the control of the FTX Debtors.” Source

Bitcoin has now recovered all its losses since FTX collapsed

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A Bitcoin logo inside a BitBase cryptocurrency exchange in Barcelona, Spain, on Monday, May 16, 2022. Angel Garcia | Bloomberg | Getty Images Bitcoin has held steady above $21,000 for the last two days, bringing it back above the price it was when Sam Bankman-Fried’s crypto exchange, FTX, began its slide toward bankruptcy. Since Monday, Bitcoin has held largely steady above $21,000, well above its Nov. 2 price of $20,283. The price of bitcoin has jumped over 22% in the last seven days, according to data from CoinMarketCap. Bitcoin fell…

Monex Indicates Interest in FTX Japan

Even as there is no solid evidence of bidding for FTX Japan, Monex is taking the position to expand its horizon and push to the top of the table. As FTX battles with its bankruptcy proceedings, one of the four assets it put on sale, FTX Japan, has caught the interest of Tokyo-based financial services company Monex Group. Although it is established that Monex is interested in FTX Japan, there is no assurance of bidding for the bankrupt company. Monex CEO Reveals Company’s Interest in FTX Japan The matter was revealed by…

Monex wants to buy FTX Japan amid bankruptcy proceedings: Report

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FTX Japan, one of the four FTX assets put on sale, caught the eye of Monex Group, an online brokerage firm based in Tokyo.  In an interview with mainstream media outlet Bloomberg, Monex CEO Oki Matsumoto said that they are interested and expressed that it will be a “very good thing” for them if there will be less competition within the local market. Matsumoto also highlighted that the crypto market within Japan has a lot of potential because companies may be looking into investing in digital assets or using nonfungible…

BTC price cancels FTX losses — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week at new 2023 highs, but still divides opinion after a blistering price rally. In what is shaping up to be the antidote to last year’s slow bleed to lower prices, January has delivered the volatility Bitcoin bulls were hoping for — but can they sustain it? This is the key question for market participants going into the third week of the month. Opinion remains divided on Bitcoin’s fundamental strength; some believe outright that the march to two-month highs is a “sucker’s rally,” while others…