Tag Archives: FTX Exchange

Lawyers representing the Official Committee of Unsecured Creditors (UCC) of Voyager Digital have raised objections to sweeping legal immunity being planned for the firm’s senior executives. Last month, the Sam Bankman-Fried (SBF)-led crypto exchange FTX won the bid for Voyager for $1.4 billion, beating Binance in the race. However, the Voyager management has reportedly added immunity from future lawsuits for its top executives as a precondition for the deal to get through. ...

The financial services corporation – Visa – collaborated with the cryptocurrency exchange – FTX – to offer debit cards in 40 countries across the globe. The cards are already available in the United States and will reach other Asian, Latin America, and European nations soon. Visa’s Next Crypto Move In an interview for CNBC, Visa’s Chief Financial Officer – Vasant Prabhu – noted that the ongoing crypto winter has not deterred the interest in digital currencies. He explained...

Brett Harrison, President of the United States subsidiary of major cryptocurrency exchange FTX, is leaving his leadership position but will act as an advisor for the company. Nevertheless, the exec will continue to have an advisory role. The FTX US boss announced his resignation in a tweet thread on Tuesday (September 27, 2022) after serving as CEO of the company for nearly one and a half years. 1/ An announcement: I’m stepping down as President of @FTX_Official. Over the...

After the market turmoil that brought massive pain to numerous crypto-related companies, FTX continues to channel money into such entities. The latest one in which the SBF-spearheaded organization will acquire a large stake is SkyBridge Capital. According to a CNBC report from earlier on September 9, FTX Ventures will take a 30% stake in SkyBridge Capital. The leaders of the two entities – Sam Bankman-Fried and Anthony Scaramucci, are set to provide further details on the...

The retail gaming giant – GameStop – said it partnered with US brand of the popular cryptocurrency exchange – FTX. Over the course of the agreement, the former will begin carrying FTX gift cards in select stores. In addition, GameStop revealed that its quarterly sales declined to $1.14 billion compared to $1.18 billion in Q2, 2021. Its publicly-traded shares have also been on a downtrend recently. However, they rose about 12% in after-hours trading. Joining Forces With FTX In...

The implosion of the South Korean stablecoin project Terra may have dented general sentiment towards the industry, but that has not stopped the second-largest city in the country from pursuing ambitious crypto and blockchain goals. Busan has announced a partnership with FTX to build blockchain-powered business solutions in the coming months. As part of the deal, Sam Bankman-Fried’s exchange will work with Busan city to assist in the development of Busan Digital Asset Exchange...

The world-famous cryptocurrency exchange platform FTX increased its revenue by more than 1,000% during 2021, from $89 million to $1020 million, according to company financial documents leaked to news outlet CNBC. According to the documents, FTX’s net revenues during 2021 grew exponentially to more than $387 million. A significant increase compared to the $14 million it made in 2020. The Crypto Winter is a Billion Dollars Opportunity In 2022, the company has continued its hot...

On August 19, The Federal Deposit Insurance Corporation (FDIC) issued various cease and desist letters to five cryptocurrency companies including FTX US, owned by the crypto billionaire Sam Bankman-Fried, along with news outlets Cryptonews.com, Cryptosec.info, SmartAsset.com, and the site FDICCrypto.com. The FDIC asked the aforementioned companies to cease making “false or misleading statements” regarding their relationship with the FDIC. According to the FDIC, FTX US and the...

Crypto exchange FTX has partnered with digital asset investment firm, Paradigm. The aim of the collaboration is to launch spread trading, which will essentially enable users to benefit from pricing dislocations with “cash-and-carry” plays. Spread Trading can be referred to as the purchase of one security and sale of a related security, called legs, as a unit. According to the official blog post, the partnership will help users to leverage “single-click” trading with “no leg...

Difficult to prove, yet often suspected, insider trading has been a staple practice of dishonest investors ever since the stock markets took off. Over time, regulators like the SEC were founded in order to fight the phenomenon – despite it being an elusive one hard to pin on a perpetrator. This is due to the nature of insider trading, which can be set off by nothing more than a seemingly off-hand comment about a company or other between acquaintances behind closed doors....