Tag: Report

$138B investment manager Man Group to launch crypto hedge fund: Report

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London-based investment manager Man Group Plc is preparing to launch a cryptocurrency hedge fund, signaling continued investor appetite for digital assets in the wake of FTX’s monumental collapse earlier this month.  Bloomberg reported on Nov. 18 that Man Group is preparing to launch its crypto-focused hedge fund through its computer-led trading unit AHL. Citing private sources, Bloomberg disclosed that the new hedge fund could be ready by the end of the year.  A spokesperson for Man Group declined to comment on the matter when asked by Cointelegraph.   Man Group already…

Turkish Crypto Exchange Founder Faruk to Be Extradited to Turkey to Face Charges of Fraud and Founding a Criminal Organization: Report

CryptoX – Cryptocurrency Analysis and News Portal Faruk Fatih Öze, the founder of Thodex, one of Turkey’s largest crypto exchanges, will be extradited to Turkey after being arrested in Albania in August to face charges of fraud and running a criminal organization, state media aa.com reported on Friday. Original Source The post Turkish Crypto Exchange Founder Faruk to Be Extradited to Turkey to Face Charges of Fraud and Founding a Criminal Organization: Report appeared first on CryptoX. CryptoX Portal

FTX and Alameda likely colluded from the very beginning: Report

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According to a new report published by blockchain analytics firm Nansen on Nov. 17, bankrupt cryptocurrency exchange FTX was allegedly intertwined with that of crypto trading firm Alameda Research from the very beginning. Both entities were created by crypto businessman Sam Bankman-Fried, who is now being considered for extradition by U.S. authorities for his role in the collapse of the exchange.  Based on available on-chain evidence, Nansen identified a series of wallets placing Alameda as one of the earlier liquidity providers for FTX in May 2019. Of the initial 350…

How to Report FTX Crypto Losses on Your Taxes

If, however, the funds don’t end up being recovered and the exchange gets shut down (as we’ve seen with Mt. Gox, QuadrigaCX, BTC-E, Cryptsy, Celsius and so many others), I would recommend classifying tokens lost on FTX as worthless investment losses, and taking a capital loss in the year that it is determined that the tokens are deemed worthless. Source BitcoinCryptocryptoexchangeExchangesFTXLossesReportTaxes CryptoX Portal