Investment firm Proof Group is one of many bidders seeking to relaunch bankrupt crypto exchange FTX, according to a person familiar with the matter. Reporting from Yahoo Finance, Wednesday (11/15/2023), this company is also part of the Fahrenheit consortium, a group of crypto investors and companies that won the bid to acquire the remains of […]
Bankrupt crypto exchange FTX submitted an amended proposal to return up to 90 percent of creditor holdings held on the exchange before it went bankrupt in November 2022. Quoted from Yahoo Finance, Wednesday (18/10/2023), the debtor group currently overseeing the bankruptcy process will officially submit a plan no later than December 16 2023 to the […]
One of the customers of the FTX crypto exchange, Lee Rees, revealed that he was still affected by the bankruptcy of FTX. When FTX collapsed last year, Rees lost USD 100,000 or the equivalent of IDR 1.5 billion (assuming an exchange rate of IDR 15,661 per US dollar), this is half his annual income. Prosecutors […]
On Saturday, September 9th, the crypto community was rattled by a rumor of potential large sell-off pressure from FTX in the second week of September 2023. The concern stems from the struggling crypto exchange FTX, which is likely to receive approval to liquidate some of its $3.4 billion in crypto assets, intending to sell up […]
Sam Bankman-Fried (SBF), the former CEO of FTX, now faces a 13-count indictment as U.S. officials have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government officials.” Details of the Bribery Charges Against Sam Bankman-Fried Sam Bankman-Fried (SBF), the co-founder and former CEO of […]
A federal US bankruptcy court signed off on Voyager’s long awaited restructuring plan on Tuesday, with Binance.US officially stepping in as the crypto credit company’s expected financial savior. Binance.US has agreed to cough up $1.3 billion in the process, according to multiple reports, in an agreement to acquire Voyager’s assets. The billion dollar-plus payouts, according […]
FTX’s sister company Alameda Research has filed a lawsuit against crypto asset manager Grayscale Investments seeking an injunction to realize what it says is more than $250 million in profits for FTX’s clients and shareholders. according to the newspaper. The lawsuit was filed in the Delaware Court of Chancery. It also addresses allegations against Grayscale […]
There are many explanations for the nature and purpose of some of the chain transactions highlighted by Forbes, and they may be wrong. But Binance’s confusing and sometimes contradictory response to the findings does not inspire confidence, especially in the post-FTX era of widespread suspicion of central bankers with balance sheets. Forbes reported this week […]
Bitcoin is down as a move above $24.1K after the FOMC minutesStimulated but not shaken, the crypto market fell slightly on Thursday, rose slightly but remained in the red after the Federal Open Market Committee (FOMC) of the US Central Bank released some minutes on -not good. Bitcoin was recently trading at $24,164, down 1% […]
FTX’s demise caused massive disruption and a severe impact on the entire market. Justice was partially served after Sam Bankman-Fried was arrested. Yet, he was granted a whopping $250 million bail and is currently under house arrest. While his parents were part of this bond, the other two guarantors remained under wraps. However, that might change soon going forward. According […]