Sam Bankman-Fried (SBF), the former CEO of the defunct FTX cryptocurrency exchange, has been questioned for the first time since the business’s demise and has categorically denied any wrongdoing. SBF stated in an interview with YouTuber Tiffany Fong that he did not have backdoor access to FTX, in contrast to claims made in the public, … Read more
Variety, who had previously reported on Hollywood’s interest in the crypto meltdown, revealed the news of the impending series. You nearly always hear the response “Life is stranger than fiction” to any bizarre anecdote at any drunken weekend gathering. Although this little witticism is abused frequently, the FTX tale is one of the few occasions … Read more
In an effort to support the recovery of the sector, Binance has pledged $2 billion to the company’s crypto rescue fund. Changpeng Zhao, the founder and CEO of Binance, stated that the so-called Industry Recovery Initiative (IRI) may decide to purchase some of the struggling cryptocurrency projects that the now-defunct exchange FTX had purchased. With … Read more
The information that 228,523 ETH had been stolen from the FTX exchange broke as the controversial exchange declared bankruptcy. The individual in possession of the tokens has risen to the top 10 ETH holders in the world, with the assets valued at more than $260 million at the time of the theft. Chainalysis also clarified … Read more
Sam Bankman-Fried, the former CEO of FTX, has resigned from his post but will “remain to assist in an orderly transition” until John Ray takes over. In less than a week, the cryptocurrency exchange FTX has transitioned from suggesting a purchase by Binance to address its liquidity difficulties to moving through with filing for Chapter … Read more
Binance confirmed on Nov. 9 that it will not be pursuing the acquisition of FTX, less than 48 hours after Zhao first said that Binance “intend to fully acquire” FTX. As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have … Read more
Sam Bankman-Fried has appeared and apologized for the liquidity problem affecting the FTX. Sam Bankman-Fried has verified the closure of Alameda Research. In a tweet frenzy on Thursday, Sam Bankman-Fried announced the upgrade. “I’m sorry… I f%&$@d up, and should have done better” he stated before discussing the FTX-related catastrophe that has caused this week’s … Read more
As the crypto market awaits the FTX-Binance transaction, bitcoin drops below $17,000 As concerns regarding Binance’s ability to carry out its previously disclosed plan to acquire FTX.com continued to roil markets, the price of bitcoin is currently trading below $17,000. According to TradingView statistics, Bitcoin on Coinbase earlier reached a low of $16,913. The most … Read more
Binance’s CEO Changpeng Zhao “CZ” just twitted about the “help” they are providing to the troubled FTX. CZ surprised the crypto community with his twit as nothing happened announcing the acquisition of Binance’s rival crypto exchange FTX. The provided “Help” will be in a form of liquidity as FTX are struggling with. As Zhao explained, … Read more
A gap has developed between Binance and FTX as a result of Changpeng “CZ” Zhao’s decision to divest his exchange’s exposure to the FTT token. A fight between the two largest exchanges in the industry, Changpeng Zhao and Sam Bankman-Fried, may lead to a crypto-cold war. Binance will Reduce FTT Exposure Two of cryptocurrency’s largest … Read more