A Citi analyst has warned of a serious risk of broader contagion to the crypto ecosystem stemming from the collapse of crypto exchange FTX, noting that the contagion “can last for a significant amount of time.” He added that the crypto industry seems to have “no significant lender of last resort.” Citi’s Analyst Warns of…
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News of BlockFi’s potential bankruptcy filing comes only a day after the platform denied allegations that the majority of its assets were held on FTX. In an official update sent to clients on Nov 14, BlockFi admitted to having “significant exposure” to FTX and its affiliated companies, but insisted it had “the necessary liquidity to…
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Lawmakers, regulators and even the institutional media don’t seem to have much interest in faulting SBF for using customer money to trade under the table. Will former FTX CEO Sam Bankman-Fried be held accountable for his mismanagement of investor funds? After most of the entities tied to his cryptocurrency exchange became insolvent last week, blockchain…
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The disgraced banker of last resort has been displaying odd behavior on Twitter, leading to speculation about his intentions and mental condition. Sam Bankman-Fried, the former CEO of bankrupt cryptocurrency exchange FTX, has concluded a Twitter thread he started Nov. 14. In approximately 40 hours, he spelled out “What HAPPENED” across nine tweets and then…
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Galois Capital, New Huo Technology, and Nestcoin are just some of the crypto firms with funds stuck on FTX as the exchange undertakes bankruptcy filings in the United States. The collapse of the cryptocurrency exchange FTX continues to have knock-on effects throughout the crypto industry with multiple crypto-focused companies reporting significant amounts of their capital…
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LINK’s price fails to hold amidst market turmoil as price falls back into its accumulation zone with a range-bound movement. LINK’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. LINK’s price bounces from a low of $5.8 on the daily…
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On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender Blockfi is reportedly in the process of filing for Chapter…
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Three days ago, on Nov. 11, 2022, it was reported that FTX’s wallets saw unusual activities and FTX Telegram channel admins stressed that FTX was “hacked.” The same day, the new FTX CEO John Ray confirmed there were “unauthorized transactions.” A report by the blockchain intelligence firm Elliptic explains that out of “more than $663…
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The crypto asset manager Ikigai has admitted that it held “a large majority” of its assets on the now-defunct crypto exchange FTX, saying it “got very little out” before the collapse. But the company is far from only one with exposure to Sam Bankman-Fried’s once-mighty empire…. Read More: This Crypto Asset Management Firm Says ‘Large…
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On Nov. 14, 2022, the Securities Commission of the Bahamas (SCB) published a press release that explains the ‘Big Four’ accounting firm PWC (Pricewaterhousecoopers) has been designated as provisional liquidator in the FTX investigation. The SCB detailed that “given the magnitude” of the events surrounding FTX, the Bahamas regulator recognized that it had to “move…
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