FTX has lost several potential rescuers after shady details of the internal workings continue to emerge. The biggest setback was Binance pulling out of the deal. But according to the crypto giant’s CEO, the deal with FTX did not make sense. While speaking at the Indonesia Fintech Summit, Changpeng “CZ” Zhao weighed on the takeover that never materialized and the reason behind it. “From a financial perspective, there is a big hole. From new users, we have very high overlaps....
Read More »FTX CEO Seeks Rescue Package Worth up to $9.4 Billion Amid Liquidity Crisis
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Read More »CoinShares Reports Over $30 Million Worth of Crypto Stuck on FTX
Europe’s largest digital asset investment and trading group – CoinShares – revealed that approximately 11% of its total net asset value is situated on the crypto exchange FTX. Another firm experiencing similar issues is Mike Novogratz’s Galaxy Digital, which holds more than $76 million worth of exposure to the troubled firm. In a recent interview for Bloomberg, CoinShares said nearly $26 million of its exposure to FTX consists of US dollars and Circle’s stablecoin USDC....
Read More »FTX Reportedly Sent $4B to Alameda, Got Close to Losing Gibraltar License Because of Binance in 2021
FTX had reportedly reached out to several other large exchanges, including Coinbase and OKX, but was turned down. Its finances were one of the factors after the reviewal of which, Binance backed out of a planned takeover. While Binance may have averted more scrutiny from regulators in Europe and the United States but the botched deal further aggravated the meltdown in the prices of cryptocurrencies. The Billionairs’ Feud Binance and FTX have been at loggerheads long before...
Read More »SBF’s Apology: Vows FTX to Make Customers Whole
Sam Bankman-Fried issued an official apology following the collapse of his cryptocurrency exchange. He talked about making customers whole and finding a solution that would be best for all parties involved. FTX’s CEO took it to Twitter earlier on November 10 to shine some light on the current situation with his distressed crypto exchange. At first, he apologized for the entire fiasco, and said he should have done better as he had made at least two big mistakes, including...
Read More »FTX CEO Transferred More than $4B to Prop Up Alameda Research
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Read More »Tom Brady and Gisele Bündchen Risk Losing $650M Investment in FTX Following Exchange Collapse
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Read More »Justin Sun Teams Up with Distresses FTX on ‘Solution’
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Read More »FTX CEO Told Investors Bankruptcy Is Likely if No Immediate Bailout
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Read More »Reasons for Binance to Withdraw from FTX Deal
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