FTX News

FTX was a cryptocurrency exchange platform that gained prominence for its wide range of trading products, including spot trading, derivatives, options, and tokenized stocks. Founded in 2019 by Sam Bankman-Fried and Gary Wang, the platform stated aim was to provide a comprehensive and innovative trading experience for both retail and institutional investors.

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Latest FTX News

Bitflyer to launch custodian crypto business after FTX Japan buyout

Japanese crypto giant bitFlyer has completed its acquisition of FTX Japan, making it a fully owned subsidiary. Bitflyer, a Tokyo-headquartered parent company of the self-named crypto exchange, said it has completed the acquisition of FTX’s Japanese branch, buying out 100%…

8 hours ago

BlockFi nears final distribution after selling FTX claims

BlockFi announced the sale of FTX claims, enabling a near-term final distribution of 100% to all allowed customer and unsecured creditor claims. BlockFi‘s plan administrator announced the sale of FTX claims, paving the way for a full recovery for customers…

BTC

ETH

3 days ago

The dispute between FTX and the CFTC is finally resolved: What was it worth?

Failed exchange FTX has settled with the Commodity Futures Trading Commission. As part of the deal, the company agreed to pay a $12.7 billion fine to the CFTC, court documents said. The deal also calls for $4 billion in restitution…

1 week ago

Bankrupt crypto lender BlockFi to start creditor repayments in July

Defunct cryptocurrency lending platform BlockFi is set to start repaying its creditors in July, 19 months after filing for bankruptcy. Collapsed crypto lending platform BlockFi will start repaying its creditors in July, nearly two years after the firm filed for…

BTC

1 week ago

Bankman-Fried family involved in $100m political donation scandal

A new report indicates that the Bankman-Fried family was involved in Sam’s political spending. The fallout from the collapse of the crypto exchange FTX continues to deepen, with new allegations surfacing about a $100 million political donation scheme orchestrated by its…

July 5, 2024 at 3:34 pm

Is Polkadot the next FTX? $87M spending spree, racism claims, and user backlash

How do Polkadot’s financial practices, spending $87M with a net loss of $108M annually, compare to FTX’s pre-collapse habits? Polkadot (DOT), one of the early competitors to Ethereum (ETH), has recently come under the spotlight after publishing its latest treasury…

DOT

July 3, 2024 at 1:38 pm

Crypto exchange Backpack hires Citibank veteran as head of audit

Cryptocurrency exchange Backpack founded by ex-FTX employees has onboarded Citibank expert to serve as its head of audit. Crypto trading platform Backpack has onboarded banking veteran Laurence King to serve as the company’s head of audit in an effort to…

July 3, 2024 at 7:46 am

Bitcoin miner Genesis Digital Assets eyes IPO in US: report

Alameda-backed crypto miner Genesis Digital Assets is reportedly in discussions with advisors about launching a pre-IPO funding round within the coming weeks. Genesis Digital Assets (GDA), a Bitcoin mining firm headquartered in Texas, is considering an initial public offering (IPO)…

BTC

July 3, 2024 at 6:59 am

Crypto wealth platform Yield App faces liquidation due to FTX-triggered losses

Backed by AGE Crypto and Alphabit, crypto wealth management platform Yield App has announced its shutdown following losses linked to the collapse of FTX. Yield App appears to be the latest crypto firm to fall victim to the fallout from…

June 28, 2024 at 11:48 am

FTX customers to vote on bankruptcy repayment plan

A U.S. judge approved FTX’s plan to poll creditors on its Chapter 11 repayment. FTX users will soon have the opportunity to vote on the proposed multibillion-dollar plan to pay back individuals whose funds were trapped on FTX since its…

June 25, 2024 at 6:27 pm

Novogratz’s Galaxy Digital set to overtake Coinbase as largest Solana validator

Galaxy Digital, the digital bank founded by Michael Novogratz, is poised to become the largest validator in the Solana network. Galaxy Digital, a global crypto-focused financial services firm founded by Bitcoin bull Michael Novogratz, is set to surpass Coinbase as…

SOL

June 20, 2024 at 11:01 am

Pantera Capital praises Solana as Ethereum’s dominance shifts to ‘multi-polar model’

The crypto venture firm Pantera Capital says Ethereum’s losing steam as Solana has become a “major contender for the future of blockchain development.” Pantera Capital, a crypto venture capital firm managing billions in assets, reportedly eyeing a purchase of millions…

SOL

ETH

June 19, 2024 at 8:49 am

Gemini to pay $50 million to defrauded investors

Gemini will make this payment as a settlement for a crypto fraud claim in New York. Gemini is also banned from operating lending programs in New York. Letitia James, the New York Attorney General, announced that her office has successfully…

June 14, 2024 at 6:20 pm

FTX agrees settlement in $24b IRS tax case

FTX agreed to pay the Internal Revenue Service $885 million to settle a $24 billion tax claim the agency levied during bankruptcy proceedings.

June 4, 2024 at 5:27 pm

FTX sells remaining Anthropic shares for $452m

FTX first tried to sell its Anthropic shares in June 2023, but the attempt was halted. Since then, the trendy AI sector drove up the value of Anthropic shares, resulting in over $800 million in profits.

June 2, 2024 at 3:01 pm