Tag: FTX

The Bahamas seizes $3.5 bn in FTX digital assets as ex-CEO faces trial

Bankman-Fried was charged by the US Attorney for the Southern District with eight counts including securities fraud and money laundering.

December 31, 2022

After FTX, now crypto finance firm BlockFi files for bankruptcy

BlockFi and eight of its affiliates have filed for Chapter 11 bankruptcy Code in the US Bankruptcy Court for the District of New Jersey to provide the company with the "opportunity to consummate a comprehensive restructuring transaction that maximises value for all clients and other stakeholders".

November 29, 2022

Former FTX CEO has no stake in Twitter as a private company: Musk

Elon Musk on Thursday said that Sam Bankman-Fried (SBF), former CEO of bankrupt crypto exchange FTX, does not have any share in Twitter as a private company.

November 24, 2022

FTX collateral crashed down to $8 bn from $60 bn as CEO ‘froze up in face of pressure’

In a letter to FTX employees, accessed by CoinDesk, the former CEO apologized to them, saying he is "deeply sorry about what happened".

November 23, 2022

Multicoin expects FTX contagion to grip crypto industry for weeks

 Multicoin Capital, a crypto venture firm, has told investors that the collapse of FTX and the price drop across the industry has pushed the fund down 55 per cent this month and that worse is on the way before the market recovers.

November 19, 2022

FTX CEO pocketed $300 mn after big funding raise: Report

Sam Bankman-Fried, CEO of now-bankrupt cryptocurrency exchange FTX, pocketed $300 million after a big funding raise last year, the media reported. According to The Wall Street Journal, the beleaguered crypto exchange secured $420 million in October 2021.

November 19, 2022

Crypto exchange FTX files for bankruptcy, CEO Sam Bankman-Fried resigns

The beleaguered crypto exchange FTX on Friday announced it has filed for Chapter 11 bankruptcy in the US, as its Founder and CEO Sam Bankman-Fried resigned from his role.

November 12, 2022

Crypto exchange Coinbase to lay off more employees amid FTX saga

Leading crypto exchange Coinbase will lay off more employees soon in a fresh round of job cuts, as the world of crypto faces another existential threat after the FTX collapse, the media reported.

November 11, 2022

Fired by Twitter, prankster Rahul Ligma now sacked by crypto exchange FTX

There is no stopping prankster Rahul Lingma, who became a social media sensation after posing as a fired Twitter employee in front of its headquarters in the US. Ligma is now seen carrying a box with office stuff as a sacked employee of beleaguered crypto exchange FTX in the Bahamas.

November 11, 2022

Binance backs out of deal to buy FTX, cryptos at record low

World's largest crypto exchange Binance on Thursday took a U-turn on acquiring its rival FTX, saying it was backing out of the deal after reviewing the company's finances, leading to further fall in major cryptocurrencies.

November 10, 2022