FTX former CEO Sam Bankman-Fried supports restarting the bankrupt exchange by issuing new FTT tokens to creditors and giving 100% profits to token holders. I continue to think that this would be a productive path for parties to explore! I *hope* that the teams in place will do so. — SBF (@SBF_FTX) December 9, 2022 Crypto…
The US senate banking committee in a Dec. 7 letter to Sam Bankman-Fried said he must answer for the failure of his crypto firms in a hearing scheduled for Dec. 14. The committee chairman Sherrod Brown wrote that if SBF failed to honor the invitation, he would be issued a subpoena. Senator Brown highlighted that…
Chairwoman of the US House Financial Services Committee Maxine Waters tweeted on Dec. 5 that FTX founder Sam Bankman-Fried has sufficient knowledge to testify before Congress on Dec. 13. .@SBF_FTX, Based on your role as CEO and your media interviews over the past few weeks, it’s clear to us that the information you have thus…
FTX founder Sam Bankman-Fried may not testify before the U.S. House Committee on Financial Services on Dec. 13 because he is still “learning and reviewing what happened” at the bankrupt exchange. Rep. Waters, and the House Committee on Financial Services: Once I have finished learning and reviewing what happened, I would feel like it was…
Galaxy Digital CEO Mike Novogratz called the FTX debacle “a crisis of confidence” during an exclusive CNBC interview where he claimed the incident had created a deficit of trust across financial markets. Novogratz described the personality of SBF as delusion and one prone to grandiosity while calling out the FTX incident as a criminal account…
The Bankruptcy Court for the District of Delaware has granted FTX approval for all its first-day motions, including paying critical vendors up to $8.5 million, a Nov. 23 court filing shows. FTX can pay critical vendors The court filing revealed that the bankrupt exchange was granted the right to pay its critical vendors up to…
U.S. Congressman Tom Emmer said FTX’s collapse was not a crypto failure; instead, it was a failure of centralized finance (CeFi), Sam Bankman-Fried, and SEC’s Chairman Gary Gensler in a Nov. 22 Fox Business interview. FTX’s collapse is not a crypto failure. It’s a failure with CeFi, @GaryGensler, and Sam Bankman-Fried. Decentralization is the point….
Bahamas Securities Commission revealed that the country’s supreme court has approved the appointment of Kevin Cambridge and Peter Greaves of PricewaterhouseCoopers as the provisional liquidators of the assets of bankrupt crypto exchange FTX, according to a Nov. 14 press statement. The press statement revealed that Brian Simms was appointed the court-supervised provisional liquidator on Nov….
Binance CEO Changpeng Zhao said his firm backed out of the FTX deal because it did not make sense and the huge financial hole they would have had to cover. Speaking at the Indonesia Fintech Summit on Nov. 11, CZ said Binance already covers most of the markets that FTX.com operates in. Apart from that, his…
FTX, alongside 130 affiliated companies including FTX.US and Alameda Research, has filed for Chapter 11 bankruptcy amid the liquidity crunch. Press Release pic.twitter.com/rgxq3QSBqm — FTX (@FTX_Official) November 11, 2022 CEO Sam Bankman-Fried also resigned from his position and will be replaced by John Ray III. According to the Nov. 11 press statement, SBF would continue…