Tag: FTX

Bitcoin Pushes Near $19K For First Time Since FTX Collapse

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Speaking with CoinDesk, Swan Bitcoin Managing Director Steven Lubka said he expects inflation numbers to continue to soften in the first half of 2023, which should give the Fed room to somewhat soften its stance. Lubka, however, is concerned that CPI prints in the second half of the year may not be so benign, and the central bank could find itself in a difficult spot with a softening or even recessionary economy alongside rising inflation. Original

FTX Arena Naming Rights Deal Officially Terminated

Naming rights have been a popular initiative for crypto firms before the commencement of the crypto winter of 2022. FTX Arena is a thing of the past. As the crypto industry is slowly coming to terms with the massive fall of crypto exchange platform FTX, a judge from Florida declined FTX its naming rights to the home of the Miami Heat on Wednesday. The news follows a court verdict in the Bankruptcy Court of Delaware, where the lawyers argued that the funds from Alameda Research sponsored the deal with Miami-Dade…

BlockFi Executives’ Equity Took $800M Hit From FTX Loan, Filings Reveal

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Judge slams senators’ letter against FTX lawyers as ‘inappropriate’

FTX’s bankruptcy judge has reportedly slammed the joint letter from four United States senators calling for an independent examiner in the FTX bankruptcy case. As reported by Cointelegraph, the senators sent a letter on Jan. 9 highlighting concerns about the ties between FTX and their legal representative, Sullivan & Cromwell LLP. However, in a Jan. 11 hearing, Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware called the letter “inappropriate ex parte communication” which he would not take into account in his decision. “I will make…

Judge slams senators’ letter against FTX lawyers as ‘inappropriate’

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The judge handling FTX’s bankruptcy has reportedly slammed a joint letter from four United States senators calling for an independent examiner in the case. As reported by Cointelegraph, the senators sent a letter on Jan. 9 highlighting concerns about the ties between FTX and Sullivan & Cromwell LLP, which as the lead law firm in the bankruptcy proceedings would be tasked with scrutinizing alleged past wrongdoing by the exchange. However, during a Jan. 11 hearing, Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware called the…

FTX customers are safe from being doxxed, for now

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The names of up to nine million FTX customers are set to remain confidential for at least three more months following the latest ruling in FTX bankruptcy proceedings.  The decision was reportedly made by Judge John Dorsey in the Delaware-based bankruptcy court on Jan. 11 in response to a 168-page filing by FTX on Jan. 8 which requested the court to withhold confidential customer information. Judge Dorsey said that he remains “reluctant at this point” to disclose the confidential information, as it may put creditors “at risk,” despite increased pressure…

FTX Finds $5B, Bitcoin Extends Rally

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Bitcoin (BTC): The largest cryptocurrency by market value was recently trading at the $17,500 level, almost the same from the past 24 hours. In futures trading, the three-month BTC futures listed on the Chicago Mercantile Exchange, widely considered a proxy for institutional activity, are drawing a premium over the cryptocurrency’s going spot market price for the first time since FTX went bust. Equities closed higher as traders eyed Thursday’s U.S. inflation report. The tech-heavy Nasdaq Composite closed up 1.7%, while the S&P 500 and Dow Jones Industrial Average (DJIA) were…

Miami-Dade gains right to remove FTX name from Heat arena

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Miami-Dade County will soon start to remove FTX’s advertising brand from the NBA’s Miami Heat arena, after granting the right from a United States bankruptcy judge in Delaware on Jan. 11, the Associated Press reports.   County officials negotiated in 2021 a $135 million deal with the crypto exchange for renaming rights to the Miami Heat’s arena as FTX Arena until 2040. A number of entrances, the roof of the arena, the basketball court, the security polo shirts, as well as many of the cards employees use to access the facility…