Tag Archives: ftx

These asset shifts have also been constantly noticed ever since FTX filed for bankruptcy, leaving many to speculate about the rationale behind the moves. According to a recent tweet by Spot on Chain, crypto accounts linked to the collapsed crypto exchange FTX and its sister trading firm Alameda Research executed over $10 million worth of token transfers across six currencies within a 12-hour span. These movements involve a part of the remaining digital assets still controlled by FTX...

The ongoing lawsuit has a complaint against Mercedes F1 that echoes the accusations, asserting that the team prominently featured FTX’s logo on its cars, merchandise, and marketing materials. A group of FTX users has filed twin class-action lawsuits in a Florida district court, accusing the Mercedes-AMG Petronas F1 Team and Major League Baseball (MLB) of complicity in FTX’s alleged “massive, multibillion-dollar global fraud”. The suits, filed on November 27, claim that both entities aided...

Legal experts, including Ripple lawyer John E. Deaton, share Armstrong’s optimism, speculating that Coinbase will be a significant beneficiary of Binance’s regulatory challenges. Recent developments have thrust Coinbase Global Inc (NASDAQ: COIN) into the spotlight, positioning it as the frontrunner following regulatory challenges faced by its main rival, Binance. The collapse of FTX had already reshaped the crypto industry, and now, with Binance capitulating to the United States Department...

A high-profile situation that eventually led to CZ leaving his role as CEO of Binance has not distracted traders from their interest in Bitcoin. Crypto traders appear to be unbothered about the industry-shaping events of the last 24 hours. On Tuesday, November 21, reports circulated that both Binance exchange and its chief Changpeng “CZ” Zhao had agreed to a criminal settlement that would see the exchange pay $4.3 billion in fines.  However, such a high-profile situation that eventually...

OpenAI’s offer also included making Anthropic’s CEO and co-founder Dario Amodei a replacement for Altman. Artificial Intelligence (AI) company Anthropic may have just refused to enter into a merger deal with OpenAI. According to a report by The Information and another report by Reuters, OpenAI’s board of directors put forward the offer following last week’s decision to sack its immediate past CEO Sam Altman. Anthropic CEO Rejects OpenAI’s Offers Citing sources with inside knowledge, The...

FTX management has been trying to recover funds from multiple sources including beneficiaries of donations made by the firm and its former CEO Sam Bankman-Fried. FTX bankruptcy advisors have sued cryptocurrency exchange ByBit Fintech Ltd in an attempt to recover funds withdrawn prior to its collapse. According to a Bloomberg report, FTX management filed a lawsuit in a Delaware court on Friday against Bybit’s investment branch, Mirana Corporation and two corporate affiliates.  FTX’s...

The cryptocurrency’s historical trends indicate that significant gains often occur a year and a half after the bottom, suggesting a rapid price surge in the coming years. A year after the crypto market saw the collapse of the now-defunct FTX Derivatives exchange and two years after Bitcoin (BTC) saw an all-time high of $69,044, the narrative of “Crypto is dead” has been unequivocally debunked. Crypto Market: Post-FTX Collapse The collapse of FTX was a turning point for the crypto market,...

SEC Chair Gary Gensler said the agency would greenlight the reboot of the exchange if “Tom or anybody else” did it within the law. In an encouraging development, the US Securities and Exchange Commission (SEC) has hinted at the possibility of approving the revival of the beleaguered cryptocurrency exchange FTX, if the incoming leadership adheres strictly to regulatory guidelines. The revelation follows reports that former New York Stock Exchange (NYSE) president Tom Farley was among a...

Following the collapse of Terra Luna and FTX last year, the UK policymakers have committed to introducing a new regulatory regime for crypto assets and stablecoins to ensure sustainable and secure mainstream adoption. The United Kingdom policymakers have in the past year worked closely with different financial institutions and other stakeholders in formulating detailed regulatory frameworks for cryptoassets and stablecoins. According to CryptoUK, the trade body formed to represent the...

An upswing in a claim’s valuation signals an increase in the anticipated recovery worth. SBF’s inner circle – Caroline Ellison, Gary Wang, and Nishad Singh – might have to pay heavy penalties. On Thursday, November 2, the US court finally convicted FTX co-founder Sam Bankman-Fried of seven criminal charges. The sentencing will take place next year around March 2024. Interestingly, amid this development, FTX‘s claim price also surged by a staggering 57%. Fundamentally, a claim signifies an...