Summary: Bankman-Fried apologized again to FTX employees and threw more light on why the cryptocurrency exchange failed. The letter released on Tuesday suggested that SBF regrets filing for bankruptcy earlier in November. Also, the FTX founder believes saving the crypto exchange is not impossible. Another letter from Sam Bankman-Fried to...
Summary: Tron founder Justin Sun said his team was in the Bahamas where FTX is based to evaluate a potential deal. Sun noted that the process might be long especially since Sam Bankman-Fried’s company already filed for bankruptcy. The billionaire digital currency proponent opined that FTX’s contagion will hurt crypto’s...
Ripple CEO Brad Garlinghouse shows interest in purchasing companies owned by FTX that currently serve business customers According to Sunday Times, FTX CEO SBF called Garlinghouse before FTX went bust in plea to bid. There are currently 130 companies associated with FTX in bankruptcy filings The new FTX CEO John...
Summary: Grayscale’s digital asset product attention was backed up by Coinbase’s custodial division. However, the crypto exchange did not release the associated wallet addresses for each product. The crypto community wallet addresses of the Bitcoin trust and other products after Genesis disclosed FTX exposure. Coinbase Custody backed up a product...
Summary: Some 50% of Bitcoin holders are at a loss amid sagged crypto prices. “out-of-money” Bitcoin addresses made up over half of all holders for the first time since March 2020, IntoTheBlock data showed. The analysis highlighted that around 24 million wallets bought BTC cheaper than Monday’s $16,050 market price....
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...
