FTX

XRP hits 7-year peak amid bullish sentiment, FTX plans payouts: Finance Redefined
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XRP hits 7-year peak amid bullish sentiment, FTX plans payouts: Finance Redefined

XRP Hits 7-Year High Amid Bullish Momentum and FTX Payout Plans XRP has surged to its highest level in seven years, reaching $3.20 on January 15, as investor optimism over cryptocurrency regulations outweighs concerns from the latest legal appeal by the U.S. Securities and Exchange Commission (SEC). By January 16, XRP traded at $3.09, marking...

Judge Approves $12.7 Billion Repayment Plan for FTX Creditors
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Judge Approves $12.7 Billion Repayment Plan for FTX Creditors

United States District Judge Peter Castel has approved a settlement allowing the now-defunct crypto exchange FTX and its sister trading firm, Alameda Research, to repay $12.7 billion to creditors. This decision resolves a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC) that has been ongoing for 20 months. The settlement, first agreed...

Crypto Landscape Post-Sam Bankman-Fried: Insights and Future Directions
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Crypto Landscape Post-Sam Bankman-Fried: Insights and Future Directions

The crypto world has been shaken by the recent verdict against Sam Bankman-Fried, founder of the now-bankrupt FTX cryptocurrency exchange. Found guilty on all charges, including fraud and money laundering, his case has prompted a reevaluation within the crypto community. Marketplace’s Matt Levin talked to Laura Shin, a crypto journalist and podcast host, about the...

Former FTX CEO Accused of Bribing $40 Million to Chinese Officials
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Former FTX CEO Accused of Bribing $40 Million to Chinese Officials

Former FTX CEO Sam Bankman-Fried has been accused of organizing a bribe of at least $40 million to Chinese officials, Reuters reports. U.S. Attorney’s Office brought him new charges on 13 counts, which include conspiracy to violate anti-corruption laws. Bankman-Fried personally oversaw the transfer of at least $40 million worth of cryptocurrencies to Chinese officials,...

FTX Sues The Liquidators of The Bahamian FTX Digital Markets
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FTX Sues The Liquidators of The Bahamian FTX Digital Markets

The bankrupt FTX cryptocurrency exchange has sued the Bahamian company FTX Digital Markets and its liquidators, accusing them of wrongfully claiming the assets of the exchange, The Block reports. FTX managers stated in the lawsuit that the FTX crypto exchange operator, FTX Digital Markets, claims the cryptocurrency and intellectual property of the platform FTX.com ,...

FTX Reveals $8.8 Billion Shortfall in Customer Funds
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FTX Reveals $8.8 Billion Shortfall in Customer Funds

Crypto exchange FTX reveals an $8.8 billion shortfall in client funds. A presentation published Thursday on law firm Kroll’s website shows that exchange managers were only able to find about $2.8 billion of the $11.6 billion that should be in client accounts. The value of FTX’s assets and liabilities is as of the day the...

Former FTX CTO Pleads Guilty
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Former FTX CTO Pleads Guilty

Former FTX engineering director Nishad Singh pleaded guilty to fraud while working for the bankrupt crypto exchange, Reuters reported. He also agreed to cooperate with prosecutors in an investigation into FTX founder Sam Bankman-Freed. Singh became the third of the former FTX group executives to claim responsibility for the illegal operations that led to the...

FTX Japan Resumes Withdrawals
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FTX Japan Resumes Withdrawals

The announcement on the site’s website states that the withdrawal of fiat currencies and crypto assets became available to FTX Japan customers through the Liquid Japan web platform on February 21. In early December last year, FTX Japan announced that it plans to resume local customer withdrawals, which were suspended on November 8th. The exchange...

Robinhood Board Gives Nod to Buy Sam Bankman-Fried’s $578M Stake
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Robinhood Board Gives Nod to Buy Sam Bankman-Fried’s $578M Stake

Robinhood’s board of directors has approved a plan to buy back the $578 million stake in their company that was bought by former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang last year. Robinhood confirmed in its fourth-quarter report, published Feb. 8, that it had received board approval to buy back the stake. “Our...

Ex-FTX.US Head Raises USD 5M for Crypto Trading Infra Startup Architect
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Ex-FTX.US Head Raises USD 5M for Crypto Trading Infra Startup Architect

Brett Harrison, former president of FTX.US, has raised USD 5 million for Architect, a new crypto startup that will build trading software targeted at large investors and institutions, according to a Bloomberg report. It has been almost four months since Brett Harrison stepped down as president of FTX.US, the US arm of the now bankrupt...