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Genesis Trading revealed late Thursday that its derivatives business has exposure to FTX amid the crypto exchange's ongoing collapse. The post Genesis Trading says derivatives arm has $175 million locked up in FTX account appeared first on The Block.
The Mercedes Formula One team said on Thursday they were keeping the branding of troubled cryptocurrency exchange FTX on their cars at this weekend's Sao Paulo Grand Prix in Brazil while watching developments.
The sudden death of crypto's white knight forced Indonesia to call for more regulation to protect investors against such shakeouts.
A new report claims that troubled crypto exchange platform FTX lent billions of dollars worth of its customers' assets to fund its quantitative trading branch. According to The Wall Street Journal, FTX CEO and founder Sam Bankman-Fried told investors that Alameda Research owes FTX about $10 billion worth of customer funds.
The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance walked away from the acquisition of FTX. U.S.
U.S. cryptocurrency broker Genesis Trading disclosed its derivatives business has approximately $175 million in locked funds on FTX, the company said Thursday in a Twitter post.
Crypto exchange FTX US warned its users to close their positions as it might halt trading in the coming days. Plus, FTX CEO Sam Bankman-Fried tweets "Alameda Research is winding down trading" and wrote in an apparent dig to Binance, "Well played; you won.
This token is up big despite a questionable future.
The price of the FTX Token (FTT) has plummeted by 90.93% in the past 48 hours.
FTX chief Sam Bankman-Fried allegedly used customer funds to support the exchange's sister firm Alameda Research.
Crypto exchange said it's not affected by the FTX news. FTT it holds is currently worth around $27,000.
Kraken exchange, in a press release has affirmed to having no ties with Alameda. Despite affirming this, the firm revealed to holding roughly 9,000 FTT tokens on the FTX platform.
FTX did not report the recent token burn, which was scheduled on Nov. 7.
Cryptocurrency exchange Kraken said it had no exposure to Alameda Research, but that it held close to 9,000 of FTX's native token FTT. The post Kraken holds FTT tokens, but claims no exposure to Alameda appeared first on The Block.
Binance no longer wants to rescue FTX—and now FTT is in freefall.
Binance CEO Changpeng Zhao on Wednesday asserted he did not “master plan” the deal with FTX and the failure of Sam Bankman-Fried's cryptocurrency exchange was in no way a win for the world's largest digital assets exchange. In an internal note written to Binance employees reviewed by Benzinga, Zhao also warned against buying or selling FTX Tokens (CRYPTO: FTT) and that after his call with Bankman-Fried, he ordered his team to sell the tokens as a company.
Gemini cofounder Cameron Winklevoss assured investors that the crypto exchange has no exposure to FTX, digital coin FTT and crypto trading platform Alameda, as a liquidity crunch at FTX sparks concerns of another crypto contagion.
The SEC has expanded it's investigation into FTX over a potential violation of U.S securities law.
In the wake of the FTX decline, the official token of the crypto exchange, FTT Token, has suffered a massive blow in the market. In the three days since Binance's announced its intention to sell off its FTT, the token has recorded double-digit losses.
FTX Token plunged by over 70% in today's session, as sentiment surrounding Binance's potential buyout of FTX continued to raise market eyebrows. Following speculation that FTX could be insolvent, Binance's Changpeng “CZ” Zhao moved to acquire the firm, pending due diligence.
Founder Sam Bankman-Fried's net worth plummeted 95% following the crash of FTX's native FTT token, resulting in him losing his billionaire status. SBF Is No Longer A Billionaire According to data reviewed by the Bloomberg Terminal, Sam Bankman-Fried has lost a huge chunk of his valuation, forcing his hand to sell FTX to Binance's Changpeng Zhao.
"We need to hold ourselves to a higher standard than even in banks," CZ wrote in the note to employees he shared on Twitter.
Cryptocurrency prices continued to move lower this morning, with prices for Bitcoin (CRYPTO: BTC), the most valued cryptocurrency in the world, tumbling below the $18,000 level on Wednesday. Ethereum (CRYPTO: ETH) recorded double-digit losses, falling below the $1,200 mark on Wednesday.
