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☆ FTX Digital Markets Assets Frozen in the Bahamas
▼ + stars: | 2022-11-10 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

The Securities Commission of the Bahamas said that it froze the assets of FTX Digital Markets Ltd. and related parties on Thursday and appointed a provisional liquidator. FTX Digital Markets, based in the Bahamas, is a subsidiary of cryptocurrency exchange FTX Trading Ltd., led by founder Sam Bankman-Fried. The powers of the directors of FDM have been suspended and no assets held by the firm can be transferred without the provisional liquidator’s approval, the commission said.

He is seeking the remainder from other funds, including current investors in FTX such as venture capital fund Sequoia Capital, the source added. Bankman-Fried told investors that Alameda owes FTX about $10 billion, the Wall Street Journal reported. FTX had lent more than half of its customer funds to Alameda, the newspaper said. The U.S. securities regulator is investigating FTX.com's handling of customer funds and crypto-lending activities, according to a source with knowledge of the inquiry. Canada's Ontario Teachers Pension Plan, Tiger Global and Japan's Softbank are also FTX investors.

FTX token - which gives holders discounts on FTX trading fees - was last trading at $5.33, having slumped by more than three-quarters. Tuesday's developments left FTX investors scrambling to figure out what the deal with Binance means for their investment in FTX, according to people familiar with the matter. In late 2019, Binance invested in FTX, then a far smaller exchange, before exiting the investment in July last year. By then FTX had mushroomed into a growing rival to Binance, which dominates the crypto industry with over 120 million users. "A *huge* thank you to CZ, Binance," Bankman-Fried wrote.

loadingHe said Binance, the world's biggest crypto exchange, will conduct due diligence in the coming days as the next step toward an acquisition of FTX.com. By then FTX had mushroomed into a growing rival to Binance, which dominates the crypto industry with over 120 million users. FTX token - which gives holders discounts on FTX trading fees - was last trading at $5.33, having slumped by more than three-quarters. On Sunday, Zhao said his firm would liquidate its holdings of the FTX token due to unspecified "recent revelations." "A *huge* thank you to CZ, Binance," Bankman-Fried wrote.

He said Binance, the world's biggest crypto exchange, will be conducting due diligence in the coming days as the next step toward an acquisition of FTX.com. The U.S. operations of Binance and FTX are not part of the deal, Bankman-Fried said in a separate tweet. FTX token - which gives holders discounts on FTX trading fees - was last trading at 18.38. On Sunday, Zhao said his firm would liquidate its holdings of the FTX token due to unspecified "recent revelations." "A *huge* thank you to CZ, Binance," Bankman-Fried wrote, referring to the rival CEO who goes by his initials.

LONDON/SINGAPORE, Nov 8 (Reuters) - The in-house token of major crypto exchange FTX slumped on Tuesday, losing one-third of its value and dragging down other major digital assets, as investors appeared to take fright at talk of pressure on FTX's financials. The FTX token - which gives holders discounts on FTX trading fees - was last down more than 33% at $14.68, its lowest since early 2021. The token, known as FTT, is the 30th largest digital coin, with a value of $2 billion, according to CoinMarketCap. Bitcoin , the biggest digital token, was down 6.42% at $19,342.00, its lowest in two weeks, and was on course for its worst day since mid-September. Reuters was unable to independently verify the accuracy of the report, or the origin of the leaked balance sheet.

LONDON/SINGAPORE, Nov 8 (Reuters) - Cryptocurrencies fell heavily on Tuesday and the in-house token of major crypto exchange FTX slumped by almost a quarter as investors appeared to take fright at talk of pressure on FTX's financials. Bitcoin , the biggest digital token, fell as much as 6% to $19,351, its lowest in two weeks, and was on course for its worst day in since mid-September. Ether , the next largest, fell over 6%. FTX has come under pressure after Changpeng Zhao, head of rival exchange Binance - the world's largest - said on Sunday his firm would liquidate its holdings of the FTX token due to unspecified "recent revelations." The FTX token - which gives holders discounts on FTX trading fees - was last down almost 23% at $17.11, its lowest since early 2021.

☆ Cryptocurrencies slide as worries about FTX fester in latest crypto liquidity scare
▼ + stars: | 2022-11-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Crypto assets tied to Alameda, the trading company also owned by billionaire Sam Bankman-Fried, were suffering steeper losses. FTX Token (FTT), the native token of the FTX trading platform, has fallen 23% in the past 24 hours. The token tied to Ethereum competitor Solana , of which Alameda is a big backer, has lost 12%. Binance is the largest crypto exchange in the world by trading volume and was an early backer of FTX. Those revelations refer to rumors about the solvency of FTX, the second-biggest crypto exchange in the world by trading volume.

☆ Crypto comes under pressure following tensions between FTX exchange, Binance
▼ + stars: | 2022-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto comes under pressure following tensions between FTX exchange, Binance'Mad Money' host Jim Cramer and the 'Squawk on the Street' team discuss falling prices for cryptocurrencies amid tensions between FTX trading firm and Binance.

☆ FTX Is Raising Fresh Cash, in Part for Acquisitions
▼ + stars: | 2022-10-25 | by ( Berber Jin | ) www.wsj.com time to read: 1 min

FTX Trading Ltd. founder Sam Bankman-Fried said that he’s in talks to raise fresh cash, in part to make “efficient acquisitions” amid the crypto rout. Mr. Bankman-Fried said at The Wall Street Journal’s Tech Live conference Tuesday that he sees acquisitions as an opportunity to boost the number of retail users on the crypto exchange he founded, a consumer segment he said FTX has so far been slow to reach.

☆ Texas regulators have their eyes on one of the most powerful players in the crypto world
▼ + stars: | 2022-10-20 | by ( Jon Sarlin | ) edition.cnn.com time to read: +7 min

CNN Business —The big news in crypto this week came via a court filing in Texas. FTX, the crypto giant that is led by arguably the most powerful person in the industry, is under investigation by Texas regulators for selling unregistered securities. FDIC, OCC, SEC, DOL, FBI, US Treasury and IRS have all stepped up their crypto enforcement efforts. The crypto lawyer I spoke with told me that those who prefer the CFTC over the SEC fall into two camps. I interviewed Saylor last year for CNN’s crypto interactive (“The Bitcoin Billionaire” is what we dubbed him).

☆ How crypto billionaire Sam Bankman-Fried survived the market wreckage and still expanded his empire
▼ + stars: | 2022-09-16 | by ( Kate Rooney | ) www.cnbc.com time to read: +11 min

FTX also extended $500 million to struggling Voyager Digital, which later declared bankruptcy, and was in discussions to acquire South Korean crypto exchange Bithumb. While Bankman-Fried's cryptocurrency exchange FTX is suffering from the downturn in digital assets, he said market share growth helped offset the pain. FTX Trading Ltd. is headquartered in Antigua, with FTX Derivatives Markets based in the Bahamas, where Bankman-Fried lives. FTX Trading has acquired companies in Switzerland, Australia, Cyprus, Germany, Gibraltar, Singapore, Turkey and the United Arab Emirates, among other countries. watch nowLike Buffett, Bankman-Fried signed the Giving Pledge: a promise by the world's wealthiest individuals to donate the majority of their wealth to charity.

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