At least $1 billion of customer funds — and possibly as much as $2 billion — have gone missing in the implosion of the crypto currency exchange FTX.
A bid to save FTX via a rescue deal with rival exchange Binance didn’t work out, leading to crypto’s highest-profile collapse in recent years.In text messages to Reuters, Bankman-Fried, one of the largest donors to the Democratic Party, said he “disagreed with the characterization” of the $10 billion transfer.
“We didn’t secretly transfer,” he said. “We had confusing internal labeling and misread it,” he added, without elaborating.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX's U.S. business is in troubleFTX US is separate from FTX, but its fate is likely to be equal.
Read more »
Solana’s Wrapped Bitcoin Price Craters, Recovers After FTX Shuts Exit RampUPDATE: soBTC largely recovered in price after FTX US reopened withdrawals, restoring a critical offramp for the wrapped bitcoin asset.
Read more »
FTX, FTX US and Alameda will file for Chapter 11 bankruptcy in US; SBF resignsFTX said roughly 130 companies in FTX Group — including FTX Trading, FTX US and Alameda Research — had started proceedings to file for bankruptcy in the United States.
Read more »
Bahamas Regulator Freezes FTX Assets — Supreme Court Appoints Provisional Liquidator – Regulation Bitcoin NewsBahamas' securities regulator has frozen FTX's assets and the supreme court has appointed a provisional liquidator. crypto cryptocurrency
Read more »
FTX US employees attempt to sell assets in CEO’s absence: BloombergEmployees working for the U.S. arm of FTX's cryptocurrency exchange business are trying to sell company assets, in some cases without CEO Sam Bankman-Fried's “participation,” according to Bloomberg News, which cited two people familiar with the matter.
Read more »