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“FTX launches strategic review, seeks court relief to pay critical vendors” Collapsed crypto exchange FTX said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses. FTX, along with about 101 affiliated firms, also sought court relief to allow the operation of a new…
” SBF’s lawyers terminate FTX representation due to conflicts of interest “ Paul, Weiss, the law firm backing FTX CEO Sam Bankman-Fried (SBF) amid bankruptcy, renounced representing the entrepreneur, citing a conflict of interest. The decision to withdraw from representation after SBF’s tweets were found to disrupt the law firm’s reorganization efforts. Starting Nov. 14,…
” Bitcoin scarcity rises as bad exchanges take 1.2M BTC out of circulation “ One of the biggest factors differentiating Bitcoin (BTC) from fiat currency and most cryptocurrencies is the hard limit of 21 million on its total circulating supply. However, the demise of numerous crypto exchanges over the last decade has permanently taken out…
” FTX leadership pressed for information by US subcommittee chairman “ The former and current CEOs of the bankrupt FTX cryptocurrency exchange have been pressed by the chair of a United States House subcommittee calling for documents relating to the exchange’s finances. “FTX’s customers, former employees, and the public deserve answers,” Raja Krishnamoorthi, Chairman of…
“No, voters didn’t back Dem agenda, GOP must probe COVID origins and other commentary” Eye on elex: No, Voters Didn’t Back Dem Agenda “Democrats would be sorely mistaken to assume that a durable majority of voters endorsed their agenda in this election,” warns Yuval Levin at The New York Times. “The 2022 election was ….
” The fall of FTX and Sam Bankman-Fried might be good for crypto “ “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information,” new FTX CEO John Ray III said in a legal filing on Thursday. “From compromised systems integrity and…
” Nickel Digital, Metaplex, and others continue to feel the impact of FTX collapse “ Nickel Digital Asset Management is not the only company feeling the effects of FTX’s collapse and bankruptcy. NFT protocol Metaplex also laid off, “several members of the Metaplex Studios team” due to the “indirect impact” from the collapse of crypto…
“FTX’s Sam Bankman-Fried cashed out $300M after fundraising round last year: report” Disgraced former FTX CEO Sam Bankman-Fried reportedly gave himself a $300 million windfall last year when his then-red-hot cryptocurrency exchange secured a massive fundraising round. FTX raised $420,690,000 million from 69 different investors – both numbers clear nods to meme culture – during…
” FTX is done — What’s next for Bitcoin, altcoins and crypto in general? “ 2022 was a tough year for crypto, and November was especially hard on investors and traders alike. While it was incredibly painful for many, FTX’s blowup and the ensuing contagion that threatens to pull other centralized crypto exchanges down with…
” FTX collapse could trigger ‘appetite’ for harsher regulation, says Andrew Yang “ Calls for harsher regulations around cryptocurrencies and digital assets will likely grow louder in the aftermath of FTX’s collapse — something former United States presidential candidate Andrew Yang said isn’t conducive to making America a hotbed for blockchain innovation. Speaking at the…