FTX's dismantling process is accumulating bills of up to $1.5 million daily, with lawyers and professionals working full-time on the case, though the increasing costs are concerning the creditors’ committee as every dollar spent is a dollar that creditors won't receive, amidst ongoing negotiations with other collapsed crypto giants and difficulties with FTX's problematic books.
The 1inch Investment Fund's crypto wallet has purchased $10 million worth of Ether (ETH) after cashing out on previous trades, bringing its total digital asset holdings to $80 million.
FTX Debtors have disclosed payments benefiting company executives leading up to the collapse of the cryptocurrency exchange, including a $2.51 million transaction to former Alameda Research co-CEO Sam Trabucco and the purchase of Robinhood shares by FTX co-founders Bankman-Fried and Wang.
FTX's transfer of $10 million worth of digital assets from the Solana network to Ethereum has raised concerns about potential token dumps amid the exchange's bankruptcy proceedings.
FTX, a prominent cryptocurrency exchange, favored top executives with transactions that enriched them just before its downfall in 2022, according to financial statements presented to the United States Bankruptcy Court for the District of Delaware.
Cryptocurrency exchange FTX is expected to receive court approval to liquidate $3.4 billion in cryptocurrencies, causing concern among stakeholders and potentially impacting Ethereum, Solana, and altcoins.
The bankrupt FTX estate has amassed around $7 billion in assets, including $1.16 billion in solana tokens and $560 million in bitcoin, as it seeks to return funds to creditors through the sale of its crypto holdings.
FTX has released the presentation materials for its shareholder meeting, revealing that over 2,300 non-customer claims worth $65 billion have been filed against the cryptocurrency exchange, while 36,075 customer claims worth $16 billion have been filed, with 10% already agreed upon. FTX's assets amount to over $7 billion and include digital assets, cash, brokerage investments, venture portfolio, tokens, and real estate. The company is also considering potential actions against insiders, political and charitable donation clawbacks, and actions against vendors. Over 75 potential bidders have been contacted for the relaunch of FTX, and a recovery plan confirmation is expected in Q2 2024. There are reports that FTX may liquidate a significant portion of its crypto holdings.
FTX's plan to sell $3.4 billion worth of crypto to return fiat currency to users, along with pressure on crypto venture capital funds to return funds, is expected to create an overhang for altcoins, leading to potential declines in prices.
Bitcoin's price rebounded to around $26,000 as short traders abandoned their bearish bets, but a lack of bullish catalysts may limit the recovery, with a potential altcoin crash looming as bankrupt exchange FTX plans to sell around $3.4 billion worth of tokens.
Collapsed digital asset exchange FTX has been approved by a judge to sell $3.4 billion in crypto assets, including Solana, Ethereum, and Bitcoin, to repay creditors and recover from bankruptcy.
The collapsed crypto exchange FTX has been granted permission to liquidate its digital assets to repay creditors, including Bitcoin, Ether, and Solana, amounting to around $3.4 billion. The founder of FTX, Sam Bankman-Fried, is facing charges of fraud and conspiracy, with his bail being revoked last month.
Bankrupt crypto exchange FTX has filed a lawsuit against former employees who allegedly exploited their connections to prioritize their asset withdrawals before the exchange's bankruptcy filing, with the total value of the suspect transfers estimated at $157.3 million.
Recent on-chain data reveals that an exploit mover transferred 2,500 ETH valued at $4 million each, potentially impacting ETH's price and smaller investors, coinciding with the launch of Ethereum-based ETFs in the United States.
An address linked to the FTX hack has transferred over 10,000 ETH, worth $17 million, to different addresses, and a significant portion of the stolen funds were directed toward the THORChain router and Railgun contract, while the market awaits the launch of Ethereum futures ETFs and the trial of FTX co-founder Sam Bankman-Fried on charges of fraud begins.
FTX, a once-prominent cryptocurrency exchange valued at $32 billion, collapsed in November 2022, leading to the arrest of its founder, Sam Bankman-Fried, who is accused of orchestrating one of the largest financial frauds in history. The collapse of FTX and the subsequent trial of Bankman-Fried highlight the risks and potential consequences of the crypto industry.
A hacker responsible for the FTX exchange hack is now moving millions of dollars worth of crypto assets, including Ethereum, via the RailGun and Thorchain protocols.
Bitcoin has rebounded by over 42% following the collapse of FTX last November, reaching its highest mark in almost two months at $28,933.51, while FTX founder Sam Bankman-Fried faces trial for federal charges of fraud and conspiracy.
The crypto wallet address linked to the FTX exploiter has moved $36.8 million worth of Ether in the last 24 hours amid the ongoing court trials of the defunct crypto exchange's ex-CEO, Sam Bankman-Fried.
The co-founder of FTX, a bankrupt digital asset exchange, revealed that its sister firm, Alameda, had been using billions of dollars of FTX customer assets for trading purposes since 2019, leading to accusations of fraud and mishandling of customer funds.
FTX, a cryptocurrency exchange that experienced a major hack last year, managed to prevent the loss of over $1 billion worth of crypto by scrambling to move funds to secure storage and transferring them to cold storage wallets.
Inflows to digital asset investment funds reached $78 million, with Bitcoin investment funds receiving the highest proportion at $43 million, while Bitcoin trading volumes increased by 16% in the past week. Additionally, the launch of the Ethereum futures ETF in the US saw under $10 million in investments during the first week, indicating muted investor interest. Deribit, a crypto options exchange, plans to offer options tied to alternative cryptocurrencies XRP, SOL, and MATIC, and FTX founder Sam Bankman-Fried's defense against US Department of Justice charges may be prohibited from mentioning Anthropic's recent fundraising efforts.
Hackers stole millions of dollars of cryptocurrency from FTX after the company declared bankruptcy, with FTX employees scrambling to protect assets, including holding $500 million on a USB drive.
FTX's hedge fund, Alameda Research, reportedly lost over $190 million due to avoidable scams and security incidents, including phishing attacks and questionable yield farming on dubious blockchains, as a result of the firm's focus on speed over security, according to a former engineer turned whistleblower. These revelations come amidst the ongoing fraud trial of FTX founder, Sam Bankman-Fried.
Blockchain analytics firm Elliptic has raised the possibility that the $477 million hack of FTX could be an inside job, as stolen assets are being moved by anonymous hackers just as the trial of FTX founder Sam Bankman-Fried begins.
FTX's bankruptcy estate staked $122 million in Solana (SOL) tokens and $5 million in Ethereum (ETH) in an effort to generate passive yield, as part of the company's "Digital Asset Management and Monetization Program," approved last month.
FTX, the defunct crypto exchange, had signed a sponsorship deal with Riot Games worth nearly $100 million to sponsor Riot's League Championship Series (LCS) esports competition, according to documents revealed in the Sam Bankman-Fried legal trial.
Summary: Millions of dollars worth of tokens from bankrupt firms FTX and Alameda Research were transferred to Binance wallets, potentially for sale, including $2.2 million in Chainlink's LINK, $1 million in Aave's AAVE, $2 million in Maker's MKR, and $3.4 million in ether (ETH).
Collapsed crypto exchange FTX is transferring $8.6 million in Ethereum, Chainlink, Aave, and Maker to Binance, indicating the beginning of a sale to repay creditors after going bankrupt, according to analysts.
The debtor group controlling wallets associated with the bankrupt crypto exchange FTX moved over $19 million worth of tokens to various crypto exchange addresses, including Binance and Coinbase.
Crypto firms Alameda Research and FTX transferred over $10 million worth of cryptocurrency to exchange deposit accounts in a span of five hours, potentially indicating their intention to sell assets to repay creditors.
FTX's bankruptcy filing reveals that it holds around $417 million worth of Grayscale's Bitcoin Trust (GBTC), and analysts speculate on the impact this could have on GBTC's price as FTX plans to carefully trade its assets to avoid crashing prices and flooding the market. The approval or rejection of a spot Bitcoin ETF by the SEC could also affect the discount to NAV in GBTC.
Bankrupt crypto exchange FTX transferred millions of dollars worth of crypto assets, including LINK, MATIC, and AGLD, to Coinbase and an intermediary address, as its founder was set to testify at his criminal trial.
The notional open interest in bitcoin and ether options contracts on Deribit has reached $20.64 billion, indicating a growing interest in the crypto options market, while Goldman Sachs predicts that Ethereum's Dencun upgrade in 2024 will enhance scalability as a settlement layer. Additionally, FTX founder Sam Bankman-Fried has testified in his criminal trial, risking tough questioning from prosecutors, and bitcoin's price has decoupled from Wall Street's tech-heavy index with the upcoming BTC reward halving expected to weaken their correlation.
