Tag: FTX

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…

FTX Attorney Reveals SBF Ordered Co-Founder to Open $65B Secret Line of Credit for Alameda Research

The CFTC claimed that the FTX co-founder created a “virtually unlimited” secret line of credit” for Alameda.  FTX attorney Andrew Dietderich has dropped a bombshell testimony that Sam Bankman-Fried ordered co-founder Gary Wang to open a credit line for Alameda Research. Alameda Research is the crypto exchange’s crypto company, which was at the center of the unfortunate crash last year. The incident resulted in FTX, Alameda Research, and about 130 subsidiaries filing bankruptcy in the US due to a “liquidity crunch.” Report: FTX Opened Credit Line for Alameda Research According to the New…

Scaramucci to invest in crypto firm founded by former FTX US boss

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SkyBridge Capital founder Anthony Scaramucci is investing in a crypto company founded by the former president of FTX US. According to an email to Bloomberg, Scaramucci said he would be investing his own personal funds to support ex-FTX US president Brett Harrison’s new venture, which became known just three weeks after the collapse of crypto exchange FTX. It is understood that the crypto software company — which doesn’t yet have a name — will enable crypto traders to create algorithmic-based strategies to access different markets — both centralized and decentralized. It…

Former President of FTX US Shares His Experience and Relationship With CEO Sam Bankman-Fried in Detailed Twitter Thread – Bitcoin News

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The former president of FTX US, Brett Harrison, published a 49-part Twitter thread explaining why he left the firm and his relationship with co-founder Sam Bankman-Fried (SBF) of FTX. Before his role at FTX US, Harrison worked with SBF at Jane Street and prior to joining FTX, he worked for Citadel Securities. In the Twitter thread, the former president of the U.S. subsidiary explained that his “relationship with Sam Bankman-Fried and his deputies had reached a point of total deterioration, after months of disputes over management practices at FTX.” Brett…