FTT – Page 3 – Ƀitsell X

FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation

March 3, 2023

On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered “Category A Assets,” or liquid cryptocurrencies…
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5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter

February 26, 2023

2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust. The following is a look at…
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Former FTX Executive Accused of Fueling a Charity Through Discounted FTT Purchase

February 15, 2023

A former executive of FTX allegedly earned profits for a charity by purchasing discounted FTX tokens, FTT, before they became available to the public at $0.05 per unit, according to a report citing anonymous sources. Ruairi Donnelly, the former chief of staff at FTX, has been accused of donating the tokens to Polaris Ventures, a…
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Examining the Holdings of 5 Centralized Crypto Exchanges: A Look at Binance, Okx, Crypto.com, Bitfinex, and Huobi

January 22, 2023

After FTX collapsed, the incident prompted many major crypto exchanges to publish proof-of-reserves and lists of known addresses so users can verify the solvency of the trading platforms. While the veracity of these proof-of-reserve lists and asset dashboards is debatable, they do provide some insight into the large sums of cryptocurrency held in custody by…
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FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings

January 19, 2023

Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid assets.” However, two of the firm’s top cryptocurrency caches are not liquid as the company’s…
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2023’s Crypto Gainers: Decentraland’s MANA Token Outperforms Bitcoin With 88% Increase in One Week

January 17, 2023

The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains during the last two weeks. While some of the top ten cryptocurrencies, like bitcoin and ethereum, are performing well, a…
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FTX’s Exchange Token FTT Sees Mysterious Pump Amid Bankruptcy Case, SBF Fraud Charges

January 11, 2023

As the FTX bankruptcy case and fraud charges against co-founder Sam Bankman-Fried continue to unfold, the value of the exchange’s token, FTX Token (FTT), has seen significant growth. Since Jan. 9, 2023, FTT has risen 28.42% and currently sits above the $1 range, following a dip below that threshold. FTT Token Jumps 28% Rising Above…
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Sam Bankman-Fried Interview Reveals Dark Donations to Republicans, FTX’s ‘Poorly Labeled Accounting’

November 30, 2022

On Nov. 29, 2022, the crypto supporter and reporter, Tiffany Fong, published an interview with the former FTX CEO Sam Bankman-Fried (SBF) that was recorded 13 days before the interview was released. During the interview, SBF discussed who he thinks may have hacked FTX and he further denied he had a backdoor installed to funnel…
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Despite 2 Entities Holding 73% of the FTX Token Supply, FTT Price Still Holds Above $1 per Unit

November 27, 2022

While a large fraction of crypto assets dropped a great deal in value during the past few weeks and bitcoin is down 18.2% in 30 days, the exchange coin ftx token (FTT) still trades above a U.S. dollar per unit. Moreover, the unknown entity known as the ‘FTX Accounts Drainer,’ still holds the second largest…
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NYDIG Analyzed The FTX Collapse And Its Implications. What Did We Learn?

November 19, 2022

It’s time for NYDIG to chip in. The FTX fiasco is the theme of the month in the crypto world, and the show’s just beginning. The NYDIG research team avoids the temptation to summarize the whole saga and goes straight to the implications of the fall of Sam Bankman-Fried’s empire. “Some signs of contagion have…
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