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” FTX reportedly used Alameda’s bank accounts to process customer funds “ The FTX contagion saga sees new revelations around its misconduct every other day, and the latest one solidifies the collusion between the failed crypto exchange and its sister company Alameda Research from the very beginning. FTX, like many other crypto exchanges, found it…
” FTX resumes employee and contractor payments after weeks in limbo “ Bankrupt crypto exchange FTX has announced it will be “resuming ordinary” cash payments, salaries and benefits to its remaining employees around the world. The announcement came from new FTX CEO John Ray III on Nov. 28, as the insolvency professional looks to help…
” BlockFi sues FTX’s Bankman-Fried over shares in Robinhood “ Newly-bankrupt crypto lending platform BlockFi has filed a lawsuit against Sam Bankman-Fried’s holding company Emergent Fidelity Technologies seeking his shares in Robinhood that were pledged as collateral earlier in November. The suit was filed on Nov. 28 in the United States Bankruptcy Court for the…
” From the NY Times to WaPo, the media is fawning over Bankman-Fried “ Nearly three weeks have passed since FTX founder Sam “SBF” Bankman-Fried announced that his exchange was facing a deep liquidity crisis, was unable to find a last-minute bailout, and was forced to file for Chapter 11 bankruptcy. The insolvency impacted millions…
” US House committee sets Dec. 13 date for FTX hearing “ The United States House Financial Services Committee has announced it will be holding a hearing to investigate the events around the collapse of crypto exchange FTX. House Financial Services Committee Chair Maxine Waters said Nov. 28 that lawmakers will explore the collapse of…
“Miami nightclub owners mourn loss of ‘crypto nerds’ after FTX collapse” Nerdy crypto entrepreneurs who spent big at Miami nightclubs, showering patrons with cash as they ordered “bathtubs of champagne” and sang with rappers like 50 Cent, have gone quiet, South Florida venue owners said. The sudden collapse of the cryptocurrency exchange FTX and the…
“BlockFi files for bankruptcy as FTX contagion spreads” Prominent cryptocurrency lending platform BlockFi filed for bankruptcy on Monday as the contagion effect from FTX’s collapse spreads through the sector, company officials said. The company’s bankruptcy filing stated it has more than 100,000 creditors, along with estimated assets and liabilities of between $1 billion and $10…
“Bahamas shreds FTX CEO John Ray: ‘extremely regrettable’ accusations” A top government official in the Bahamas slammed new FTX CEO John Ray III for his “extremely regrettable” claims in the heated bankruptcy battle over the imploded crypto company. Bahamas Attorney General Ryan Pinder took aim at Ray after the executive accused the Caribbean country of…
” FTX collapse drives curiosity around Sam Bankman-Fried, Google data shows “ The fall of FTX seemingly had the biggest impact on the crypto ecosystem as Google searches for the CEO Sam Bankman-Fried (SBF) hit the roof over in November 2022. Some of the biggest drivers for this trend include mainstream media attention, colossal losses…
” FTX under ‘active’ civil and criminal investigation: Bahamas AG “ The Bahamas Attorney General (AG) and Minister of Legal Affairs Ryan Pinder has confirmed that the collapsed crypto exchange FTX is the focus of an “active and ongoing” investigation by authorities from the Caribbean nation. In a national statement that was delivered live on the…