New FTX CEO John Ray reveals today in a court declaration “the complete failure of corporate controls” at bankrupt crypto exchange FTX. FTX CEO John Ray lays bare the enormity of the task he faces in finding and securing the property of the debtors as the liquidators seek to unravel the governance and management nightmare…
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The agency overseeing Indonesia’s crypto market has stopped the trading of FTX tokens on domestic platforms. The announcement comes after FTX, the exchange that issued the FTT token, filed for bankruptcy in the United States and was subjected to investigations by regulatory bodies around the world. Indonesian Authority Orders Crypto Exchanges to Discontinue FTX Token…
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Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to the startup’s CEO, laying off some employees allows the company to focus on building a more decentralized crypto future. Using FTX as Custodian…
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During a conversation with Binance CEO Changpeng Zhao (CZ) and the Milken Institute, the exchange executive called the former FTX CEO Sam Bankman-Fried (SBF) a “psychopath” for one of the tweets SBF wrote last week. CZ’s statements further follow the accusations stemming from Three Arrows Capital (3AC) co-founder Kyle Davies. The 3AC co-founder claimed that…
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Researchers at Nansen concluded that at least 86% of all FTT tokens were initially controlled by Alameda or FTX. According to a new report published by blockchain analytics firm Nansen on Nov. 17, bankrupt cryptocurrency exchange FTX was allegedly intertwined with that of crypto trading firm Alameda Research from the very beginning. Both entities were…
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The FTX fiasco is nothing new for Bitcoin as it survived multiple exchange collapses, bear markets and even outright bans in its decade-plus existence. The “Bitcoin-is-dead” gang is back and at it again. The fall of the FTX cryptocurrency exchange has resurrected these infamous critics that are once again blaming a robbery on the money…
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Bitcoin shrugs off FTX news, but analysts warn BTC and altcoins are due significant losses. Bitcoin (BTC) ranged around $16,500 on Nov. 17 as markets digested the latest events surrounding exchange FTX. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView FTX CEO tells of “complete failure of corporate controls” Data from Cointelegraph Markets Pro and TradingView…
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Eight, a cryptocurrency consultancy founded by Michaël van de Poppe in 2018, has uncovered the best altcoins that can benefit from FTX’s demise. According to analysts, recent events are promoting a narrative that is strongly associated with decentralization. Following the FTX news, leading hardware wallet manufacturer Trezor and Ledger reported skyrocketing and record-breaking sales. This…
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ETH’s price reclaims its demand zone of $1,200 as price bounces to a region of $1,250 despite market turmoil. ETH’s price continues to show strength after a bearish downtrend with the market’s current state, as things look uncertain for most traders and investors. ETH’s price bounces from a low of $1,100 on the daily timeframes…
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Tether, the issuer of the major stablecoin USDT, denied having exposure to either Genesis Global Capital or Gemini Earn. Some, however, wonder how it is possible for such a large company not to be affected by any of the massive events that shook the crypto space this year. The company said in an announcement that…
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