FTX
Description
FTX is a cryptocurrency exchange built by traders, for traders.
FTX’s leveraged tokens provide a clean, automated way for users to get leverage. The BULL and BEAR tokens automatically manage their exposure, rebalancing daily to maintain their target leverage and prevent liquidations.
FTX is a cryptocurrency exchange built by traders, for traders.
FTX’s leveraged tokens provide a clean, automated way for users to get leverage. The BULL and BEAR tokens automatically manage their exposure, rebalancing daily to maintain their target leverage and prevent liquidations.
Binance and CEO Changpeng Zhao Face Class-Action Lawsuit Over Alleged Market Manipulation Targeting FTX
Binance and its CEO, Changpeng Zhao, are facing a class-action lawsuit filed by plaintiff Nir Lahav, accusing them of unfair competition and SEC law violations. The lawsuit alleges that Binance manipulated the cryptocurrency market to harm competitor FTX, leading to a significant decline in FTX's utility token, FTT. The case brings into focus the broader implications of regulatory efforts in the crypto industry.
Precedent Trial of SBF Engrosses Coinbase Executives as FTX Faces Judicial Scrutiny
The criminal trial against Sam Bankman-Fried (SBF) of FTX, slated to commence on October 4, 2023, under Judge Kaplan, has garnered attention from Coinbase executives, Brian Armstrong and Paul Grewal. Through Twitter, Grewal shared his extensive federal court experience and expectations for the jury selection process, sparking a broader discussion on legal procedures in high-profile crypto cases. The trial, amidst FTX's ongoing legal challenges, highlights the crypto industry's intricate regulatory landscape.
FTX Japan Launches Blockchain-based Proof of Solvency to Enhance Transparency and Security
FTX Japan has introduced a blockchain-based Proof of Solvency (PoS) to ensure the transparency and security of its customer's assets. The PoS, announced on September 28, 2023, by COO Seth Melamed, enables the objective verification of asset management, allowing customers easy access to verify their balances. The details of PoS will be published weekly on the Ethereum blockchain, marking a significant step towards enhancing trust and transparency in the cryptocurrency ecosystem.
DOJ Plans to Call Former FTX Consumers, Investors, and Employees as Witnesses in Upcoming Samuel Bankman-Fried Trial
The DOJ is set to call former customers, investors, and employees of FTX as witnesses in the upcoming trial against Samuel Bankman-Fried, with a letter motion on September 30 revealing the scope of testimonies. A witness from Ukraine presents a challenge due to travel constraints amidst local unrest, with video conferencing proposed as a solution. The trial, attracting attention due to its proximity, is poised to kick off following jury selection on October 3.
SEC Charges FTX Auditor Prager Metis Over Independence Violations
The SEC has charged Prager Metis with violations of auditor independence laws, drawing attention due to its previous engagement with cryptocurrency exchange FTX, which filed for bankruptcy in 2022. The legal action emphasizes the crucial role of auditor independence in ensuring financial transparency and investor protection.
Attorneys for Ex-FTX CEO Samuel Bankman-Fried Challenge Proposed Jury Questions Ahead of Fraud Trial
The defense attorneys for former FTX CEO Samuel Bankman-Fried have submitted a letter challenging the proposed jury questions for the upcoming fraud trial. They assert that the government's proposed questions could harbor bias against Bankman-Fried, potentially leading to an unfair trial. The defense suggests an alternative voir dire to ensure a fair jury selection process, while the prosecution opposes these suggestions. The trial is slated to begin on October 4, 2023, following jury selection on October 3.
FTX Hack Suspect Reactivates Wallet
Blockchain analytics firm Spot On Chain reported a significant movement in a crypto wallet associated with the historic FTX hack on September 30, 2023. The wallet, labeled 0x3e957, transferred 2,500 ETH (approx. $4.2 million) amidst the anticipation surrounding the launch of Ethereum-based ETFs in the U.S. This marks the first activity in the wallet since the hack, with the wallet still holding 12,500 ETH.
FTX Customer Claims Portal Update: How It Affects Derivative Positions and USD Balances
The recent updates to the FTX Customer Claims Portal aim to provide more clarity on derivative positions for customers. While these changes may affect the displayed USD balance, they do not impact the overall value of the claims. The valuation of derivative positions is based on FTX exchange pricing as of specific dates and times, with the final USD valuation to be determined later.
Galaxy Asset Mgmt Secures FTX Crypto Sale Bid; Weekly Cap Set at $50M
Jeff Dorman, CFA and CIO of Arca, discusses the court-approved sale of FTX's crypto assets by Galaxy Asset Management. The sale is expected to be gradual and opportunistic, with a maximum sale of $50 million per week. Galaxy's goal is to outperform a static portfolio, not converting the estate into a L/S fund. The sales process is expected to be systematic, strategic, and potentially slower than expected.
FTX's Top 10 Crypto Holdings Revealed: SOL, Bitcoin, Ethereum, XRP, APT Lead the Pack
The top 10 digital assets held by FTX account for a dominant 72% of its total crypto holdings. Leading this list is Solana (SOL), with a valuation hovering around $1.2 billion. Following closely are Bitcoin (BTC) and Ethereum (ETH), valued at $560 million and $192 million, respectively. The list further includes significant assets such as APT, USDT, XRP, BIT, STG, WBTC, and WETH. Their respective values oscillate between $1.37 billion and a modest $37 million.