Tag: FTX

FTX Businesses Like LedgerX Draw Interest from More than 100 Potential Buyers

FTX debtors have prioritized selling four businesses owned by the company, however, the US bankruptcy trustee in FTX’s case has argued that FTX has provided very little information on what’s actually being sold. In the new legal filing of FTX’s bankruptcy case, more than 117 buyers have shown interest in purchasing the assets and businesses of the crypto exchange FTX. It’s almost two months since crypto exchange FTX filed for bankruptcy in November 2022. The crypto exchange’s bankruptcy filing includes more than 100 entities. As per the previous reports, FTX…

How are Dexes like Snowfall Protocol and Uniswap Affected by Kraken Sliding Downwards and FTX Collapsing?

Place/Date: – January 10th, 2023 at 9:54 am UTC · 3 min read Source: Snowfall Protocol Following the industry-defining collapse of FTX  and  instability at another cryptocurrency exchange, Kraken, cryptocurrency users are looking for alternatives. These unimaginable events have created a new opportunity for DEXs like Snowfall Protocol (SNW) and Uniswap. What is unique? Opportunity, and are these DEXs competent enough to take control? Let’s find out. The Solution Is Still Decentralized Finance After the fall of FTX, there was a school of thought that unregulated and decentralized finance will…

Solana Moves On From FTX Crisis, Sparkles 46% In Last 7 Days

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Solana (SOL) has been included in the top cryptocurrencies to watch out for this week of finance and crypto-focused site Investopedia. This no longer comes as a surprise considering that at one point during the last seven days, the digital asset, which was pulled all the way down to $9 towards the end of December, managed to increase its value by 46%. SOL outperformed industry frontrunners Bitcoin and Ethereum and all other top crypto assets occupying the top 10 spot in terms of market capitalization. It would appear that the…

FTX former lead engineer in talks with federal prosecutors in Bankman-Fried case

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As the investigation into FTX continues, the crypto exchange’s former engineering chief Nishad Singh followed former FTX and Alameda Research executives Gary Wang and Caroline Ellison by reportedly meeting with federal prosecutors to cut a deal. Singh attended a proffer session sometime last week at the United States Attorney’s office for the Southern District of New York for prosecutors to determine if he has valuable information to offer in the lawsuit against FTX founder Sam Bankman-Fried, according to a Jan. 10 Bloomberg report. Prosecutors are interested in Singh’s insight regarding…

FTX subsidiaries on auction block including LedgerX attract 117 interested buyers

As many as 117 parties have expressed interest in buying up one or more of FTX’s independently operated subsidiaries including FTX Japan, FTX Europe, LedgerX and Embed.  In a Jan. 8 court filing made by Kevin Cofsky, a partner at Perella Weinberg, the investment bank representing FTX US and affiliated firms. Cofsky stated: “Approximately 117 parties, including various financial and strategic counterparties globally, have expressed interest to the Debtors in a potential purchase of one or more of the Businesses.” He added that the debtors have entered into 59 confidentiality…

Failed FTX Exchange’s FTT, Serum Tokens Lead Altcoin Rally, Triggering Short Squeeze

CryptoX – Cryptocurrency Analysis and News Portal A signal of traders’ extreme bearish positioning before Monday’s price increase was the funding rates for perpetual swaps of solana (SOL) sinking to 1,000% annualized rate. Then, SOL gained 20% and some $15 million of short bets were liquidated, according to Coinglass. Original Source The post Failed FTX Exchange’s FTT, Serum Tokens Lead Altcoin Rally, Triggering Short Squeeze appeared first on CryptoX. CryptoX Portal

FTX Co-Founder’s Alleged Extravagance Comes to Light in Bankruptcy Court Documents – Bitcoin News

Following the court filing that shows FTX co-founder Sam Bankman-Fried (SBF) wants access to FTX’s $460 million in Robinhood shares, Delaware bankruptcy court documents show tens of millions were spent by the FTX team in 2022 on living accommodations, hotels, food, and flights. Moreover, SBF’s quantitative trading firm allegedly owes more than $55,000 to Jimmy Buffett’s beach resort, Margaritaville, after Alameda and FTX executives occupied 20 suites for a few months last year. New Court Filings Detail Lavish Spending by FTX Co-Founder and Executives With every court filing published, it…

Former FTX US Boss Promises to Share Insight on Exchange’s Operations

The former FTX boss said he will share details about what he knows of the exchange “in time”. Brett Harrison, the former President of the United States offshoot of the now-bankrupt FTX Derivatives Exchange has promised to share additional details about the operations of the trading platform. Harrison revealed this via his Twitter handle in response to a user’s comment on his earlier tweet. Harrison earlier demanded to know why tech startups around today do not do what American retail giant, Amazon.com Inc (NASDAQ: AMZN) did by going public in…

Around 117 Parties Interested in Buying FTX Units, Court Documents Show

As of Sunday, “approximately 117 parties, including various financial and strategic counterparties globally, have expressed interest to the debtors [FTX] in a potential purchase of one or more of the businesses,” said a legal declaration by Kevin Cofsky, a partner at Perella Weinberg, the investment bank hired by FTX Group to represent the collapsed crypto company. Source BuyingCourtDocumentsFTXInterestedpartiesShowUnits CryptoX Portal