Summary: Ontario Teachers’ will write off a $95 million investment in troubled crypto exchange FTX. The pension fund announced the decision as Sam Bankman-Fried’s companies filed for bankruptcy in Delaware and New York. Another firm wrote off $150 million stranded on Celsius after the crypto lender collapsed in June. Ontario...
Hong Kong-based crypto OTC trading firm Genesis Block has over $50 million stuck on FTX. The firm had announced the suspension of trading services earlier today.
Summary: Binance CEO Changpeng Zhao told CNBC that due diligence during the FTX deal didn’t last long. Zhao said “misappropriation of user funds” at Sam Bankman-Fried’s crypto exchange was clear once the process started. The deal collapsed after Binance saw the books and FTX filed for bankruptcy shortly after. Changpeng...
Summary: Another crypto firm announced changes to operations due to FTX’s contagion. The lending department of Genesis Global Trading “temporarily suspended” customer withdrawals and new loan originations on Wednesday, CoinDesk reported. Interim CEO Cerar Islim delivered the update during a client call. The operational change did not affect Genesis Trading,...
Crypto lender BlockFi is reportedly preparing to file for bankruptcy after revealing a significant exposure to FTX. BlockFi is planning to lay off employees in the meantime.
Merchants and customers who use USDC will now be able to do so using Apple Pay. Circle has announced that crypto payments using USDC have been enabled on Apple Pay.
FTX hacker reportedly swapped around $50M of $Dai to $Ethereum in a state of “panic” according to intelligence firm Arkham. It is rumored that this hack is an inside job, with Kraken CEO Nick Percoco confirming that they know the identity of the attacker. According to security firm Hacken, the...
Alameda Research reportedly bought several tokens before their listing on FTX. The alleged insider trading is spread over 18 tokens involving $60 million.
