The founder of failing crypto exchange FTX has written to his former employees to apologize for his role in its collapse and continues to insist that his downfall can only be explained by misplacing $8 billion (£6.7 billion). In the letter, first published by industry news site CoinDesk, Sam Bankman-Fried wrote: “I deeply regret my …
Founder of failed crypto exchange FTX apologizes to former employees Read More »
Hackers who stole an estimated $477 million worth of cryptocurrency from collapsed FTX exchange began laundering the funds in bitcoins. This month, after FTX filed for bankruptcy, new CEO John Ray III said that “unauthorized access to certain assets has occurred.” Blockchain analytics firm Elliptic estimates that around $477 million worth of cryptocurrency was stolen …
Hackers begin laundering part of $477 million stolen from crypto exchange FTX Read More »
The collapse of FTX, one of the largest cryptocurrency exchanges in the world, has triggered a new bout of volatility in the highly speculative digital asset market. FTX founder Sam Bankman-Fried’s fortune went from nearly $16 billion to zero in days as his crypto empire filed for bankruptcy protection in the United States on November …
What do we know so far about the collapse of the FTX crypto exchange? Read More »
Sam Bankman-Fried’s bankrupt FTX trading empire misused client funds and lacked reliable financials or proper internal controls, says new boss of collapsed $32 billion crypto exchange . John Ray III, a veteran insolvency practitioner who oversaw the liquidation of Enron, said in a U.S. court filing on Thursday that FTX was the worst case of …
New FTX Chief Slams “Complete Failure Of Corporate Controls” At Crypto Exchange Read More »
The Bahamian securities regulator froze the assets of part of Sam Bankman-Fried’s crypto empire and decided to appoint a liquidator for one of its entities, as the entrepreneur rushed to raise up to $8 billion to save FTX. The Bahamas Securities Commission took action on Thursday against FTX Digital Markets, the Bahamian subsidiary of FTX. …
FTX assets frozen by Bahamian regulator as crypto exchange struggles to survive Read More »
FTX, once the second-largest cryptocurrency exchange in the world, is worthless, according to one of the company’s early investors. In a note to partners, venture capital firm Sequoia said it had written off its $150m (£130m) investment in FTX. “In recent days, a liquidity crisis has created a solvency risk for FTX. The full nature …
Cryptocurrency exchange FTX is now worthless, key investor says Read More »
