Tag Archives: FTX Exchange

Tiantian Kullander – Co-Founder of the crypto firm Amber Group – unexpectedly passed away in his sleep at the age of 30. The bear market negatively affected his firm, which had to dismiss around 10% of its staff earlier this year. In addition, Amber Group recently revealed it had been an “active trading participant” on the bankrupt crypto exchange FTX. It remains unknown whether his death has some connection to the aforementioned events.H However, he’s not the only one with...

FTX’s sister trading desk, Alameda Research, bailed out the exchange before it suffered a possible $1 billion trade loss in early 2021.  This news comes amid claims from former FTX CEO Sam Bankman-Fried that FTX and Alameda were independently operated firms.  As reported by the Financial Times on Friday, people familiar with the matter said FTX suffered massive losses after a client’s leveraged trade on an obscure crypto token went south. Meanwhile, the “buffers” designed to...

Toto Wolff – an Austrian billionaire and CEO of the Mercedes-AMG Petronas F1 Team – thinks the collapse of crypto exchange FTX could harm every Formula 1 organization. The trading venue served as one of Mercedes’ sponsors while its logo was visible on the cars driven by Lewis Hamilton and George Russel. However, the squad suspended the agreement after FTX’s severe issues came to light in the middle of November. ‘A Huge Damper for the Entire Industry’ FTX’s immense decay that...

The past seven days were filled with a lot of information as the situation around FTX keeps unraveling. The former CEO of the exchange – Sam Bankman-Fried, had multiple appearances, but they may have spurred more questions than they answered. Before we get there, though, it’s important to note that the market managed to add around $20 billion to its capitalization, which is a step in the positive direction. Bitcoin managed to gain 2%, while ETH is up a total of 6% in the past...

Former FTX CEO Sam Bankman-Fried may have apologized dozen times for the failure of his firm, but there’s no stopping the contagion. Another casualty came in the name of a crypto trading platform – Aurus Global – which is currently facing a “short-term liquidity issue” due to FTX insolvency. Aurus Misses Principle Payment Amount of $3M The algorithmic trading and market-making firm reportedly missed a principal repayment on a 2,400 Wrapped Ether (wETH) decentralized finance...

Sam Bankman-Fried is doubling down on his claim that FTX US should never have filed for bankruptcy.  The former FTX boss believes the US entity is still entirely solvent and could re-open for withdrawals right away. The FTX US Situation In a tweet on Thursday, Bankman-Fried reiterated his comments at the New York Times Dealbrook Summit the day prior. During the interview, he claimed that FTX US is “fully solvent” and “fully funded”, and that its financial situation is...

Pavel Durov – Founder and CEO of the messaging application Telegram – thinks the FTX crash occurred because the blockchain industry has recently deviated from its decentralized nature. He argued that a few individuals abused their power, leading to the spectacular collapse. The Russian-born entrepreneur said Telegram’s next goal is to create non-custodial wallets and decentralized exchanges so crypto traders could have maximum protection when operating in the sector. The Main...

For several companies in the crypto sector, 2022 marked the end of the line. A few seemingly vanished overnight. But Genesis’ creditors are making desperate calls to save the crypto brokerage from sinking into bankruptcy. According to a Bloomberg report, the creditors of the embattled firm hired restructuring lawyers and are exploring ways to avoid a situation similar to crypto exchange FTX’s rapid descent into bankruptcy. Law firms Proskauer Rose and Kirkland & Ellis are...

Former FTX CEO Sam Bankman-Fried (SBF) spoke at length about FTX’s collapse and bankruptcy at the New York Times Dealbrook Summit on Wednesday. The former billionaire defended himself from accusations of fraud, and claimed that FTX’s troubles stemmed from an accounting error. Sam Bankman-Fried on Alameda’s Leverage Bankman-Fried’s interviewer began by asking whether the ex-CEO whether FTX had truly collapsed to an accounting mistake (as claimed by SBF on Twitter) or whether...

According to the most recent data, GMX earned more daily revenue than Uniswap, becoming the market leader for the first time ever. Delphi Digital reported that the platform raked in $1.15 million in trading fees, while that of Uniswap stood at $1.06 million. Moreover, GMX is now the fifth-largest decentralized application on Token Terminal’s dashboard, trailing behind already established players such as Ethereum, OpenSea, dYdX, and PancakeSwap. Formerly known as Gambit...