According to the company, this will bolster its position as a global leader in crypto capital markets. Genesis trading announced on Nov. 10 that it will receive an additional equity infusion of $140 million from its parent company, Digital Currency Group. According to the company, this decision was made to “strengthen its balance sheet” and…
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Amy Wu’s resignation followed the news 134 companies associated with the FTX Group would be filing for bankruptcy under Chapter 11 in the United States. Amy Wu, an investor in FTX and the head of the firm’s venture capital arm, FTX Ventures, has reportedly resigned her position. According to a Nov. 11 report from The…
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On Nov. 11, 2022, the CEO of Crypto.com Kris Marszalek shared the company’s proof-of-reserves addresses that hold leading crypto assets like bitcoin and ethereum. Marszalek says a “proof-of-reserves audit preparation is underway” and the wallet addresses shared are the company’s cold wallets. Crypto.com CEO Kris Marszalek Shares Company’s Cold Wallet Addresses, Promises Full Audit Soon…
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FTX Europe is one of roughly 130 companies in FTX Group that will be a part of bankruptcy proceedings in the United States. The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States requesting the exchange halt operations for its Europe…
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Bitcoin, altcoins and crypto-linked stocks correct sharply after FTX officially files for bankruptcy with BTC price slipping below its June lows again. Bitcoin (BTC), Ether (ETH) and cryptocurrency-linked stocks like MicroStrategy are seeing a sharp downturn after news broke that FTX announced filing for Chapter 11 bankruptcy and Sam Bankman-Fried stepping down as CEO. Bitcoin,…
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After lecturing us about crypto regulation, Sam Bankman-Fried’s house of cards collapsed this week as FTX declared bankruptcy. Who would’ve thought that the implosion of Terra, the collapse of Three Arrows Capital and the bankruptcies of Celsius and Voyager wouldn’t be the most terrible crypto stories of 2022? In retrospect, crypto’s day of reckoning —…
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The collapse of Sam Bankman-Fried’s crypto empire is likely to have repercussions beyond the crypto markets, according to Mike McGlone, senior commodity strategist at Bloomberg. The repercussions of the cataclysmic FTX downfall are going to be broader than the crypto markets, as they will accelerate downward moves in stocks and commodity markets, according to Mike…
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After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published a consumer alert and said the state regulator was “investigating the apparent failure of crypto asset platform FTX.” California’s…
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FTX CEO Sam Bankman-Fried has sent apologies in his first series of tweets since the collapse of FTX. “I f****d up, and should have done better,” the CEO said. In his first series of tweets since Binance announced and then reversed an offer to buy troubled crypto exchange FTX, SBF apologized to everyone involved in the platform,…
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Major stablecoin issuer Tether froze $46.5 million of USDT held by the collapsing crypto exchange FTX, reportedly at the request of law enforcement. Specifically, this is the USDT held on the Tron blockchain in a wallet belonging to FTX, according to block explorer Tronscan. This wallet contains USDT 46,549,320, along with some TRX, USDD, and…
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