Tag Archives: sam bankman-fried

FTX, one of the world’s biggest and most popular digital currency exchanges, has filed for bankruptcy. This was abruptly followed by the formal resignation of the company’s founder and head executive Sam Bankman-Fried. FTX Has Fully Gone Under The company has been in hot water for the past several weeks. FTX experienced what’s been referred to as a “liquidity crunch” and initially sought the aid of its main rival Binance to bail it out of the dark hole that had been created for it. It...

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Alameda consulted troubled entrepreneur Sam Bankman-Fried before investing in Genesis Digital.A new report has surfaced about a capital injection of over $1.15 billion that was carried out by Sam Bankman-Fried‘s Alameda Research. This was prior to the time that crypto prices began heading for the rocks. According to the report, the capital, which is Alameda Research’s biggest venture investment to date, was put into Bitcoin mining firm Genesis Digital Assets. Although, according to another...

In his latest “Apology Tour” in which he appeared at the New York Times Dealbook Summit, SBF portrayed himself as a victim rather than a mastermind of all that happened at the trading platform.Since FTX Derivatives Exchange went bankrupt, there have been a lot of permutations as to whether the funds misappropriated by Sam Bankman-Fried (SBF) were used as donations to politicians. In a recent Twitter conversation, Will Manidis, CEO of ScienceIO, a healthcare data platform, said that SBF made...

Coinbase chief slammed crypto exchange FTX over their excuses for an accounting error. Brian Armstrong said that FTX clearly stole customers’ money by moving funds to Alameda Research.After all, what’s transpired in the crypto space with the collapse of crypto exchange FTX, industry heavyweights have weighed in with their opinion. Coinbase chief Brian Armstrong lashed out at FTX founder Sam Bankman-Fried for his handling of customer funds. As we know, SBF has been giving public interviews...

Embattled ex-FTX CEO Sam Bankman-Fried reflects on his ‘costly’ apathy for risk management during his time with the exchange. Sam Bankman-Fried recently stated that he did not devote time to risk management practices while helming fallen crypto exchange FTX. In a recent interview filmed in the Bahamas, where Bankman-Fried remains holed up, the disgraced former CEO reflects on what could have been.According to Sam Bankman-Fried, if he had devoted an hour a day to risk management, FTX might...

The CFTC chair accepted that he had conducted nearly 12 meetings with SBF in the last 14 months before bankruptcy. SBF was looking to secure a clearinghouse license for FTX subsidiary LedgerX.It’s not a new story that FTX‘s disgraced founder Sam Bankman-Fried was in close contact with US lawmakers. However, the latest report suggests that Bankman-Fried also met with some high-level officials at the US Commodities and Futures Trading Commission (CFTC) more than 10 times over the last 14...

The Huobi Advisory Board will evaluate all Poloniex projects on a monthly basis beginning today.Cryptocurrency exchanges Huobi and Poloniex have finally announced an official partnership after denying media rumors. According to the official announcement, the two exchanges have entered into a ‘strategic partnership’ geared towards multiple cooperation. At the top list of priorities for the strategic partnership between the two companies is developing a more robust entity to compete with other...

The regulator is pursuing a cease and desist order against FTX, Administrative Fines, and a refund of the assets received from investors amongst other demands.In an ongoing effort to uncover the mishaps that befell the FTX empire, the Texas State Securities Board (TSSB) has summoned Sam Bankman-Fried to a hearing billed to take place on February 2 next year. The TSSB has reportedly been investigating FTX US since October for allegations bordering on its offering of “Earn” which pays yields to...

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