Tag: FTX

FTX allowed by bankruptcy judge to sell LedgerX, other assets

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The judge in charge of overseeing the FTX bankruptcy proceedings has given the embattled crypto exchange the approval to sell some of its assets to aid its efforts in repaying its creditors.  According to a court filing, Delaware Bankruptcy Court Judge John Dorsey has approved the sale of four key units of FTX. This includes the derivatives platform LedgerX, the stock-trading platform Embed, and its regional arms FTX Japan and FTX Europe. Interested bidders can now contact investment bank Perella Weinberg, which is tasked to begin the sale process, representing…

Judge Rules for FTX to Sell LedgerX, Other Units as Hundreds of Buyers Express Their Interest

Interested buyers may officially begin to indicate their interests between January 18 and February 1. Bankruptcy judge John Dorsey has cleared FTX to sell four of its key units in its bid to raise funds to repay creditors. This means that the collapsed exchange may now sell off its FTX Europe, FTX Japan, its derivatives arm LedgerX and Embed – its stock-clearing platform. The sell-offs will be overseen by investment bank Perella Weinberg. Judge Dorsey issued the order on Thursday following a Wednesday hearing. Per the order, sales notices will…

Bitcoin Price Clocks Above $19K for First Time Since FTX Fiasco Fueled by CPI Data

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Bitcoin whales significantly contributed to the recent rally above $19K. Bitcoin price gained over 3 percent on Thursday and briefly traded above $19K for the first time in eight weeks. Having broken above December highs of around $18,353, the mother coin exchanged about $18,836 during the early Asian trading market. The increased upward volatility on the Bitcoin and altcoin market coincided with the United States Consumer Price Index (CPI) data released on January 12. According to data from the Bureau of Labor Statistics December CPI data remained unchanged, which means…

FTX Cleared to Sell LedgerX, Japanese Units by Bankruptcy Judge

Judge John Dorsey of the Delaware Bankruptcy Court, charged with overseeing the wind-up of the exchange, approved the measures in an order dated Thursday after a hearing held Wednesday. Sale notices will be published within around three business days, with indications of interest to be received between Jan. 18 for Embed and Feb. 1 for FTX Europe and Japan. Source

Bankruptcy Court Terminates FTX Naming-Rights Agreement for Miami Heat Arena – Exchanges Bitcoin News

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A federal bankruptcy court in the U.S. has ended the FTX naming-rights agreement for Miami Heat’s basketball stadium. The sports venue was branded FTX Arena as part of a multi-year, multi-million dollar sponsorship deal between the now-bankrupt crypto exchange and Miami-Dade County in 2021. FTX Signage and Advertising to Be Removed From Downtown Miami Sports Facility The FTX naming-rights agreement for the Miami Heat arena was terminated on Wednesday by a federal bankruptcy judge in Delaware. According to the order, the contract between Miami-Dade County and what was one of…

FTX Donations to Early Covid-19 Researchers Raise Questions of Propaganda Tied to Pandemic Prevention – Bitcoin News

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While the former CEO of FTX, Sam Bankman-Fried, awaits his trial at the end of the year, reports indicate that the company donated millions of dollars to early Covid-19 researchers. The research was reportedly used to cast doubt on specific treatments, such as the use of ivermectin and hydroxychloroquine. Controversy Surrounds Former CEO of FTX and Funding for Research to Discredit Covid-19 Treatments There are several reports claiming that Sam Bankman-Fried (SBF), the co-founder of the now-defunct crypto exchange FTX, helped fund causes related to pandemic prevention. During the first…