The ghost of FTX haunts the crypto industry, but Bitcoin is attempting to leave it behind as BTC price gains endure. Bitcoin (BTC) starts a new week at new 2023 highs but still dividing opinion after a blistering price rally. In what is shaping up to be the antidote to last year’s slow bleed lower,…
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Brett Harrison, former president of FTX US, has revealed that he left the crypto exchange due to a deteriorating relationship with Sam Bankman-Fried and his deputies over management practices. In a long Twitter thread on Saturday, Harrison shared some details regarding his time in FTX US, the US arm of FTX, where he worked for…
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Sam Bankman-Fried ordered Gary Wang, FTX’s co-founder, to open the alleged credit line financed by the exchange’s customers. Former FTX CEO Sam Bankman-Fried (SBF) reportedly ordered Gary Wang, co-founder of the crypto exchange, to open a $65 billion “secret backdoor line of credit” for Alameda Research, according to FTX attorney Andrew Dietderich. The attorney disclosed…
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The US Department of Justice has opposed FTX hiring Sullivan & Cromwell, the law firm currently tasked with the exchange’s investigation, citing potential conflicts of interest. In a recent legal filing, the US Trustee said it is objecting to the FTX decision due to two “overarching” reasons. In the first place, the law firm’s disclosures are…
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Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able to purchase assets from Genesis, up to $1 billion, “depending on their evaluation of the situation.” Additionally, the crypto investment manager Osprey has…
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Anthony Scarammuci also noted that there was “clearly fraud” in the SBF and FTX debacle, while Mike Novogratz said there’s a side of him that would like to “punch” SBF in the face. SkyBridge Capital CEO Anthony Scaramucci said that his firm can buy back the stake of the company it sold to FTX back…
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The loss occurred while Alameda Research’s liquidators were attempting to close a borrow position on Aave but instead removed the extra collateral used for the position. The liquidators of Alameda Research continue to encounter obstacles in their efforts to recover funds for creditors. Crypto analytics firm Arkham disclosed on Twitter that the liquidators lost $72,000 worth…
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The former CEO of FTX, Sam Bankman-Fried (SBF), has published a Substack newsletter on Jan. 12, 2023, and the first post is titled “FTX Pre-Mortem Overview.” In the post, SBF maintains that an “extreme, quick, targeted crash precipitated by the CEO of Binance made Alameda insolvent.” The blog post does not mention the allegations made…
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With all eyes on crypto exchanges, rebuilding trust — through increased transparency, safety and effective policies — has become the top agenda for entrepreneurs worldwide. Investor sentiment has always been a critical driver in the crypto space. Both positive and negative sentiment influence ongoing trends — be they price movements, product launches or regulations. In…
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