UAE’s minister of state for foreign trade Thani Al-Zeyoudi noted that as the country has attracted a lot of talent from the crypto sector, the UAE now needs to roll out the correct regulation to support further growth. Crypto will play a “major role” in the United Arab Emirates’ global trade moving forward, says the…
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Less than a week ago, Brett Harrison, the former president of FTX US, published a 49-part Twitter thread describing his side of the story when he worked for the disgraced co-founder of FTX, Sam Bankman-Fried (SBF). On Friday, Jan. 20, 2023, Harrison revealed that his new firm, Architect, has raised $5 million from investors such…
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FTX’s debtors are applying “Herculean” effort to unearth the exchange’s remaining assets. Meanwhile, Sam Bankman-Fried claims FTX US is solvent. Large enterprise businesses spend tons of money keeping track of their financial dealings — think accountants, financial analysts, consultants and enterprise-grade accounting software. Sam Bankman-Fried, meanwhile, used Microsoft Excel. On Jan. 17, in another sloppy…
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This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda Research’s cache. However, the disclosure to unsecured creditors does not mention the extremely large…
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Brett Harrison departed FTX US roughly two months before FTX Group filed for bankruptcy, citing “cracks” in his relationship with SBF. The former head of FTX US is launching a new cryptocurrency software company and has raised $5 million from several investors, according to Bloomberg. Brett Harrison, who served as president of FTX US between…
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The judge ruled there were no potential conflicts of interest sufficient to stop Sullivan & Cromwell from continuing to act as the debtors’ counsel. James Bromley, one of the lawyers representing debtors in FTX’s bankruptcy case, has criticized social media activity against his law firm promulgated by posts from former CEO Sam Bankman-Fried. In a…
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Anthony Scaramucci, the founder of Skybridge Capital, thinks failed crypto exchange FTX cannot be saved following its bankruptcy filing. Ex-FTX Boss’ Betrayal In an exclusive interview while attending the World Economic Forum in Davos, Switzerland, the founder and American entrepreneur opined that there is no way the exchange could be saved. Still, Scaramucci considers the founder…
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Following the collapse of FTX, the company has decided to rebrand and exit the crypto space. Moonstone Bank, a rural Washington state bank that received an estimated $11.5 million investment from FTX’s sister company, Alameda Research, says that it will be exiting the crypto space and returning to its “original mission” as a community bank. …
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Former FTX CEO allegedly used his popularity to lure developers, and Alameda Research to inflate the price of certain coins. Sam Bankman-Fried, the former CEO of the FTX crypto exchange, used his influence in the crypto industry to inflate some coins prices through a coordinated strategy with FTX’s sister company, Alameda Research, a New York…
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New FTX CEO Discusses Possibility of Rebooting Defunct Crypto Exchange in First Interview Since Taking Over
Following recent disclosure that FTX debtors and bankruptcy administrators located $5.5 billion in liquid assets, the new FTX CEO John J. Ray III discussed the business in his first interview since taking over the exchange’s restructuring process. Ray detailed during the interview that he is open to the possibility of reviving the now-defunct digital currency…
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