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Search resuls for: "Georgina Lee Tom Westbrook"


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☆ FTX's Bankman-Fried scrambles for funds after Binance deal collapse
  + stars: | 2022-11-10 | by ( Angus Berwick Georgina Lee Tom Westbrook | Angus Berwick | Georgina Lee | ) www.reuters.com   time to read: +5 min
Bankman-Fried said he was in talks with "a number of players" in the crypto sector, including Justin Sun who is the founder of crypto token Tron, after a potential rescue deal with larger rival Binance fell apart. He also said his firm Alameda Research, which sources have said was partly behind FTX's problems, was winding down trading. FTX's native token, FTT , is down more than 90% this week and was attempting to steady around $3.50. Another exchange, OKX, said it had been approached earlier in the week by Bankman-Fried, who described liabilities of $7 billion that needed covering fast. Bankman-Fried said FTX.US, the U.S. operations of the exchange, however, had not been financially impacted.
☆ FTX's Bankman-Fried seeks funds after Binance deal collapse-memo
  + stars: | 2022-11-10 | by ( Angus Berwick Georgina Lee Tom Westbrook | Angus Berwick | Georgina Lee | ) www.reuters.com   time to read: +2 min
HONG KONG/SINGAPORE/NEW YORK Nov 10 (Reuters) - FTX's Sam Bankman-Fried is seeking new funds after a deal with Binance collapsed, according to a staff memo on Thursday viewed by Reuters, as the crypto exchange looks to plug a reported $8 billion hole in its finances. Larger rival Binance walked away from a bailout of FTX on Wednesday, sending cryptocurrency prices plunging as hopes for a rescue diminished. In the memo, viewed by Reuters, Bankman-Fried said for the next week he would be "conducting a raise" to do right by customers and "possible new investors." It came after Bankman-Fried told employees on Wednesday he was exploring all options for his firm after the Binance deal with collapsed. TX's shortfall comes after users rushed to withdraw $6 billion in crypto tokens from FTX in just 72 hours.
☆ Crypto markets teeter with FTX after Binance abandons bailout
  + stars: | 2022-11-10 | by ( Georgina Lee Tom Westbrook | Georgina Lee | Tom Westbrook | ) www.reuters.com   time to read: +4 min
FTX head Sam Bankman-Fried said he was "exploring all the options", but fading hopes for rescue left FTX teetering. A message on the FTX website said: "FTX is currently unable to process withdrawals. "The dagger will continue to hang over the crypto market, as long as the outlook of FTX's fate remains unclear." 'CONFIDENCE CRISIS'There are also early signs that the fallout could spread beyond crypto markets, with jittery stockmarkets sliding on Wall Street overnight. Most crypto players remain bullish about the long term, but are braced for further falls in the near future.
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