FTX Group, the crypto platform facing some financial hurdles, just spilled the beans on its assets. Here’s the lowdown: Non-Customer Claims: More than 2,300 non-customer claims were thrown at FTX, totaling over a whopping $379 billion as of June 30, 2023. After sifting out claims that were seen as bogus or over-the-top, we’re left with […]
The company has about $11.6 billion in debt against $4.8 billion in assets, according to a report filed by its advisers. Sam Bankman Fried’s crypto empire had a $6.8 billion deficit on its balance sheet when it filed for bankruptcy last November, according to a bankruptcy court filing Friday. This includes a loss of $10.6 […]
Bitcoin Surge over $24.7Just when bitcoin seems to be going south, investors are sending the largest cryptocurrency from a high market cap, thanks in large part to a small contraction. BTC was recently trading at around $24,625, up 11% from the same time on Tuesday. Bitcoin last traded above $24,500 in August. Wednesday’s increase followed […]
Emergent owns 56 million shares of online brokerage Robinhood. Emergent Fidelity Technologies, a company co-founded by FTX founder Sam Bankman-Fried and former executive Gary Wang, filed for Chapter 11 bankruptcy Friday evening. Emergent Fidelity is a company that owns 56 million shares of Robinhood Markets (HOOD), a property that quickly became the main topic of […]
On Friday, federal prosecutors wrote to U.S. District Judge Lewis Kaplan, asking him to modify Sam Bankman-Fried’s bail to include a ban on personal communications with current and former FTX employees and from and Alameda research. The request from the Department of Justice (DOJ) comes after Bankman-Fried contacted at least one FTX employee – identified […]