Thursday, September 28, 2023
  • Login
  • Register
btclive365.com
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
btclive365.com
No Result
View All Result
Home Trend cryptocurrency

FTX Files For Bankruptcy, CEO Resigns – Bitcoin Magazine

btclive365 by btclive365
November 11, 2022
in Trend cryptocurrency
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter



FTX has filed for Chapter 11 bankruptcy.

The move includes FTX US, the group’s American subsidiary, which up to yesterday was believed to be solvent and able to keep running despite the international arm’s issues.

The company’s official Twitter account posted a press release on Friday morning detailing the decision, which also includes a resignation by CEO Sam Bankman-Fried.

SBF had been on the spotlight for a couple of years, amassing great media coverage as he led what became known as the FTX Empire. The name alluded to the many companies under the FTX umbrella, including Alameda Research, a quantitative trading firm founded by SBF.

Alameda is actually on the center of the issues that led to FTX’s downfall. A leaked balance sheet of the trading firm sparked doubts in the industry, culminating in one of the largest holders of FTX’s native crypto token, FTT, announcing they’d be offloading their position.

Binance CEO CZ’s tweet sparked a feud with SBF, who said, in a since-deleted tweet, that FTX was fine and assets held by the company were as well. Soon after, however, an acquisition deal between Binance and FTX came to light, with SBF then conceding to a “liquidity crunch.”

The bailout sparked optimism in the industry. However, CZ made it clear from the start that Binance could walk away from the deal “at any time.” Notably, the company had yet to perform due diligence by analyzing FTX’s financial books in order to decide whether to move forward with the acquisition.

After reviewing the financial condition of FTX, Binance officially decided to not purchase the non-U.S. business operations of FTX.

In addition to the liquidity issues, the revelations made this week led to several U.S. regulators opening investigations into FTX, while others broadened their probes.

It’s uncertain how long FTX customers will have to wait to get their bitcoin funds back, or whether that will ever fully happen.





Source link

Previous Post

CySEC requested FTX’s European arm suspend operations prior to bankruptcy: Report

Next Post

Meet the Metaverse Creators: NFT Creator Clammy

btclive365

btclive365

Next Post

Meet the Metaverse Creators: NFT Creator Clammy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest

Amazon Announces Another Mass Layoff Affecting 9,000 Personnel

March 21, 2023

what does forex market open times?

April 14, 2023

How to sell Bitcoin – Bitcoin Magazine

November 9, 2022

Add a Tangible Asset to Your Portfolio: Buy Gold

January 7, 2023

Bitcoin price hits 2-week lows as FTX ‘bank run’ drains BTC reserves

1

Building Homesteader Lifestyle With Bitcoin – Bitcoin Magazine

1

Arbitrum dealings activity rockets 550% since August: Delphi Digital

0

Bitcoin․com Doubles Down on Self-Custody With Launch of Verse DEX – Press release Bitcoin News

0

Play of the Day: Jumping In EUR/CAD’s Downtrend

September 28, 2023

Microsoft, Sony, Nintendo Jump On Web3 Space, Who Else Has Joined Them? New Data Shows

September 28, 2023

Tottenham Hotspur All Set to Release $SPURS Fan Token on Chiliz Chain

September 28, 2023

Daily Forex News and Watchlist: EUR/USD

September 28, 2023

Recent News

Play of the Day: Jumping In EUR/CAD’s Downtrend

September 28, 2023

Microsoft, Sony, Nintendo Jump On Web3 Space, Who Else Has Joined Them? New Data Shows

September 28, 2023

Tottenham Hotspur All Set to Release $SPURS Fan Token on Chiliz Chain

September 28, 2023

Daily Forex News and Watchlist: EUR/USD

September 28, 2023

We deliver up-to-date, breaking crypto news about the latest Bitcoin, Ethereum, Blockchain, NFTs, and Altcoin trends and happenings

Follow Us

Browse by Category

  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Cryptocurrency News Today
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

Recent News

Play of the Day: Jumping In EUR/CAD’s Downtrend

September 28, 2023

Microsoft, Sony, Nintendo Jump On Web3 Space, Who Else Has Joined Them? New Data Shows

September 28, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2022 btclive365 All Right Rivered .

No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

© 2022 btclive365 All Right Rivered .

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In