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Search resuls for: "FTX's U.S"


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☆ How Binance's plan to buy FTX unfolded in a matter of days
  + stars: | 2022-11-08 | by ( Hannah Lang | ) www.reuters.com   time to read: +3 min
Here are the key developments in the longstanding relationship between Binance and FTX:* December 2019: Binance invested an undisclosed amount in FTX, which was then a derivatives exchange, CoinDesk reported. As part of that exit, Binance received the equivalent of $2.1 billion in Binance's stablecoin and FTT, according to Binance CEO Changpeng Zhao. loading* Nov. 2: Crypto news website CoinDesk reported on a leaked balance sheet from Alameda Research, FTX CEO Sam Bankman-Fried's crypto trading firm, which maintains close ties with FTX. * According to CoinDesk's report, $3.66 billion of Alameda's $14.6 billion in assets are held in “unlocked” FTT. The firm has more than $10 billion in assets that are not reflected in the CoinDesk report, she said.
☆ Bankrupt crypto lender Voyager to sell assets to Sam Bankman-Fried's FTX for $1.4 billion
  + stars: | 2022-09-27 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Customers of beleaguered cryptocurrency lender Voyager Digital may find some solace in the news that FTX, the bitcoin exchange founded by billionaire Sam Bankman-Fried, is set to take on the company's assets after winning a bankruptcy auction. After several rounds of bidding, FTX's U.S. subsidiary was selected as the highest bidder for Voyager's assets, the companies said in a statement late Monday. The bid was valued at roughly $1.4 billion, a figure that includes $1.3 billion for the fair market value of Voyager's digital assets, plus a $111 million "additional consideration" in anticipated incremental value. The sale of Voyager's assets to FTX U.S. is dependent on a vote by creditors, as well as "other customary closing conditions," according to the statement.
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