Founders Fund, a venture capital (VC) firm founded by the billionaire Peter Thiel, is believed to have acquired bitcoin and ethereum worth $200 million sometime in the second half of 2023. The VC firm reportedly began purchasing bitcoin when its price was still under $30,000. Founders Fund’s Renewed Interest in Crypto In the latter half…
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FTX Trading Ltd. and its affiliates have announced a plan to sell a subsidiary it acquired for $10 million to Coinlist for $500,000, court documents filed on Feb. 9, 2024 show. The latest motion, filed in the United States Bankruptcy Court for the District of Delaware, details the proposed sale in order to maximize the…
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The FTX Debtors estate, under the leadership of CEO John Ray III, has initiated the process of selling Digital Custody Inc. (DCI) to CoinList. FTX had previously acquired the subsidiary in two separate transactions, one in December 2021 and the other in August 2022, for a total of $10 million. However, CoinList will now acquire…
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The dream of a revived FTX exchange evaporates, triggering a massive sell-off of its native token, FTT. According to Kaiko, on February 5, FTT, the now utility-free currency of the defunct exchange, plummeted over 30% last week, erasing much of its recent gains fueled by speculation of an FTX comeback. FTX Won’t Resume Operations The…
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In a significant move within the crypto bankruptcy landscape, FTX Trading Ltd. has announced its intention to sell its equity interests in the artificial intelligence (AI) firm, Anthropic PBC. Holding close to an 8% stake, valued between approximately $1.47 billion to upwards of $2.4 billion, FTX is navigating its Chapter 11 bankruptcy with this strategic…
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Bankrupt cryptocurrency exchange FTX is seeking approval to sell its 8% stake in AI startup Anthropic Holdings. The motion, filed by FTX’s current CEO, John Ray III, requests permission to sell the stake and proposes two possible procedures, including an auction or a private sale. FTX aims to expedite the deliberation process by requesting a shortened…
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The United States Department of Justice has charged three individuals accused of masterminding the SIM-swapping attack that siphoned over $400 million from FTX. The indictment of the trio appears to undercut claims that incarcerated FTX founder Sam Bankman-Fried was the mastermind behind the hack. FTX’s Lax Security The U.S. Department of Justice (DOJ) has leveled…
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New D.C. court filings from January 24 revealed that three people have been charged with stealing more than $400 million worth of digital currency from FTX in a November 2022 FTX SIM-swapping attack. A Years-long FTX SIM Swap Scheme Robert Powell, Carter Rohn, and Emily Hernandez have all been charged with conspiracy to commit wire…
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The collapsed cryptocurrency exchange FTX will not be proceeding with efforts to resume operations because none of the prospective suitors has pledged to invest the needed capital, the company’s attorney has said. A U.S. Bankruptcy Court judge has said FTX’s proposal to reimburse users based on November 2022 is the correct interpretation of the law.…
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During a bankruptcy court hearing in Delaware on January 31st, FTX attorney Andy Dietderich revealed that the company had been engaged in negotiations with potential bidders and investors since October 2023, but none were willing to contribute sufficient funds to rebuild the FTX exchange. FTX has now chosen to abandon its efforts to relaunch its…
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