• Bitcoin
  • Blockchain
  • Crypto
  • Metaverse
  • AltCoins
  • Business
  • Investment
  • Upcoming
What's Hot

Buy Love, Sell Fear

October 3, 2023

Elon Musk Calls Fiat Currency A Scam

October 3, 2023

US Government Frames Bitcoin Privacy As “Criminal”

October 2, 2023
Facebook Twitter Instagram
  • Bitcoin

    Buy Love, Sell Fear

    October 3, 2023

    Elon Musk Calls Fiat Currency A Scam

    October 3, 2023

    US Government Frames Bitcoin Privacy As “Criminal”

    October 2, 2023

    Bitcoin Is A Possession, Not Property

    October 2, 2023

    A Most Ridiculous World : The Politicization Of Energy

    October 2, 2023
  • Blockchain

    BlockJoy raises $12M to help cut operating costs for businesses running blockchain nodes • TechCrunch

    February 2, 2023

    Blockchain Futurist Conference — Canada’s biggest crypto conference returns for fifth year

    February 2, 2023

    WEMADE and Metagravity Sign Strategic Alliance MOU to Collaborate on Blockchain Games for the Metaverse

    February 2, 2023

    Will Polkadot’s [DOT] new parachain fix the blockchain?

    February 1, 2023

    BNB Chain Unveils 3rd Blockchain in BNB Ecosystem, Tether ‘Never Borrowed from Celsius’, Ripple Sold $226M Worth of XRP in Q4

    February 1, 2023
  • Crypto

    Crypto Donations Now Need An Appraisal

    February 2, 2023

    Bitcoin Shrugs Off Fed Rate Hike to Hit Six-Month High

    February 2, 2023

    Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

    February 2, 2023

    Yates County cryptocurrency miner completes debt restructuring deal

    February 1, 2023

    How ‘King of Instagram’ Dan Bilzerian ‘made millions’ from cryptocurrency after bizarre poker deal

    February 1, 2023
  • Metaverse

    Facebook’s Metaverse Division Lost Nearly $14 Billion Dollars Last Year

    February 2, 2023

    Samsung Hints Metaverse Ambitions At Product Launch Event, Eyes Integrating Different Realities Into Premium Smartphones

    February 2, 2023

    Sanlam makes history with SA’s first media launch in the metaverse

    February 2, 2023

    Meta’s plans to expand metaverse are up and running again: Here’ how

    February 2, 2023

    RFOX VALT Launches AI-Enabled Metaverse Apartments for Sale

    February 1, 2023
  • AltCoins

    Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases

    February 2, 2023

    CAKE, SHIB And These Alt-Coins Are Trending

    February 2, 2023

    Elon Musk Wants McDonald’s to Accept Crypto Payments. Dogecoin (DOGE), Bitcoin (BTC), and Snowfall Protocol (SNW) Benefit

    February 2, 2023

    Crypto Analysts are Saying These Altcoins Have Huge Potential – Here’s Why

    February 2, 2023

    Are Cryptos Bound to Retrace Amid Recent Pump?

    February 1, 2023
  • Business

    Ray Dalio Warns Money Is in Jeopardy, Favors Inflation-Linked Crypto

    February 2, 2023

    BIT Mining Limited Regains Compliance with NYSE Continued Listing Standards

    February 2, 2023

    Bithumb’s de facto owner arrested over alleged embezzlement

    February 2, 2023

    Crypto Custody Firm Copper Alerted to Security ‘Incident’ Over Christmas

    February 1, 2023

    Cathie Wood’s Ark Invest Says Bitcoin Could Hit $1.5 Million by 2030

    February 1, 2023
  • Investment

    The Investor’s Guide to Crypto Options Trading

    February 2, 2023

    Pune software engineer loses Rs 13 lakh to crypto investment fraud

    February 2, 2023

    Crypto Investment Products’ AUM Surges as Investor Confidence Returns: CryptoCompare Report

    February 2, 2023

    Crypto Investors Can Purchase Bankruptcy Put Options to Protect Funds on Binance, Coinbase, Kraken Crypto Exchanges

    February 1, 2023

    Ethereum price forecast for February, including Morgan Stanley comments By Investing.com

    February 1, 2023
  • Upcoming

    S&P 500 rises to the highest level in five months Thursday as Meta leads a tech comeback

    February 2, 2023

    Looking For Something Different From Nubank and C6 Bank? Try Lanistar! – Sponsored Content

    February 2, 2023

    NYDFS Releases Guidance For BitLicensees And Limited Purpose Trust Companies On Asset Custody In The Wake Of Cryptocurrency Insolvencies – Financial Services

    February 2, 2023

    This Supreme Court Case Will Reverberate Throughout the Compliance and ESG World | NAVEX

    February 2, 2023

    Ethereum (ETH) Could Reclaim $2,000, Trader Says

    February 1, 2023
investorstoday.press
investorstoday.press
Home»Crypto»Recovered $740 M From The Failed Cryptocurrency Exchange FTX
Crypto

Recovered $740 M From The Failed Cryptocurrency Exchange FTX

maikdezana@icloud.comBy maikdezana@icloud.comNovember 24, 2022No Comments5 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

FTX Sam Bankman-Fried Live Updates and Latest News: 

Samuel Bankman-Fried, popularly known as SBF is the co-founder and former CEO of the Bahamas-based exchange FTX. FTX was one of the leading exchanges in the Crypto world. Its native token FTT started facing a crisis in mid-2022. It filed for bankruptcy in the United States in November, 2022. 

At the peak of his life, his net worth was estimated to be $26 billion. In the month of October, this year he estimated wealth was at $10.5 billion. Amid the FTX crisis his wealth dropped by 94% in a day bringing him down to $991.5 million. 

He donated huge sums of money to Democratic Party candidates in the U.S. 

Live

2022-11-24T18:30:00+5:30

Elon Musk denies claim of SBF having share in Twitter

A Semafor publication stated that Sam Bankman-Fried has shares in Twitter as a private company. It says that SBF has invvested $100 million in the firm. However, Elon Musk has denied the claims by saying, “its a lie.” Musk continued and said, “he must have had share in the public company but not as a private company.” 

Trump has been slamming SBF for having public stakes in the company, since the collapse of FTX.

2022-11-24T17:18:00+5:30

More than $740 million recovered so far from the crashed FTX

The company contracted to recover the assets of FTX, BitGo has said it has recovered more than $740 million. Although this is just a fractions of assets from the potential billion dollars that the company owned. On Wednesday, BitGo filed this in the document of court proceedings.

Within hours after FTX filed for bankruptcy on November 11 of this year, BitGo was hired to look into it. The amount is from November 16th and the company estimates that it would be worth $1 billion by now. The recovered amount is locked in a ‘cold storage’ now, which means it’s not connected to the internet. 

Bankman-Fried, the CEO and Co-founder of FTX was looking to get $8 billion from new investors to recover his balance sheet. 

 

2022-11-24T16:27:00+5:30

Sam Bankman-Fried to give first public appearance after collapse of FTX

SBF is all set to speak at the New York Times DealBook Summit and he will be speaking to NYT’s Andrew Ross Sorkin. Bankman-Fried tweeted and confirmed about his presence. This would be the first appearance of him at any public event after the collapse of his company, FTX. He involved only in long twitter threads and direct messaging on the platform to reporters. This also created trouble for him as the laewyers for FTX wrote in the documents. “There are a lot of important questions to be asked and answered, nothing is off limits,” Sorkin tweeted. 

2022-11-24T15:35:00+5:30

The takeover announcement by Binance and the mind-change

After a cavity in the price of FTT which fell to $6, CZ the founder and CEO of Binance announced that they will be buying FTX completely. However, after a report from Bloomberg suggesting that FTX is under investigation by U.S Federal agencies, Binance alters its decision. A spokesperson reveals the mismanagement of funds and investigation has impacted Binance’s settlement. Next day, there is an announcement of Alameda research shutting down and FTX’s assets are sealed. 

 

2022-11-24T14:00:00+5:30

US Senates call for action against Sam Bankman-Fried

Senates Elizabeth Warren and Sheldon Whitehouse have written a letter to the Department of Justice for a proper investigation against Bankman-Fried and the other senior officials at FTX. Bankman-Fried applied “fraudulent tactics” as they claimed. 

On the day when FTX filed for bankruptcy, Bankman-Fried claimed through a tweet that they have enough money to cover up for all the client’s holdings and they do not invest in the client’s assets. However, later Bankman-Fried admitted that his other company, Alameda Research has approximately $10 billion of FTX. The senators wrote the co-founder, also the former CEO wanted to enrich himself by using people’s money. 

2022-11-24T12:55:00+5:30

Sam Bankman-Fried issues an apology in a memo to employees

SBF issued a memo to FTX’s current and formal employees in which he says sorry multiple times. From the memo, it’s clear that Sam Bankman-Fried has sent the memo to express his apology and his regret for resigning. He further mentions that his employees were his family and communicating with them about what was happening was his responsibility. He explains in the memo, what led to the situation of collapsing the company. 

This memo is his first detailed explanation about what happened and the lengthiest apology he has ever issued. 

2022-11-24T12:10:00+5:30

Expensive purchase surrounding FTX

The official property records show the parents of Sam Bankman-Fried and senior executives at FTX have bought property worth $121 million in the past 2 years across the Bahamas. This purchase consists of expensive homes having private beaches, condominiums in luxury resorts, etc. As claimed, these purchases were made by FTX to provide residence to its key personnel.

One other document shows his parents sign on a property facing the beach in Old Fort Bay, which was home to a British colonial fort in the 1700s. 

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

Shourya is a crypto fanatic who has developed interest in Business Journalism in the past few years. Currently, working as a writer with Coingape, Shourya is also an avid reader. Apart from writing, you can find her attending poetry shows, exploring cafes and watching cricket. As she says, “dogs are my home,” her first rescue of a dog was at the age of 7! She has constantly been speaking up for mental health and the rainbow pride.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
maikdezana@icloud.com
  • Website

Related Posts

Crypto Donations Now Need An Appraisal

February 2, 2023

Bitcoin Shrugs Off Fed Rate Hike to Hit Six-Month High

February 2, 2023

Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

February 2, 2023

Yates County cryptocurrency miner completes debt restructuring deal

February 1, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Subscribe to Updates

Get the latest crypto news

Advertisement
Demo
Top Insights

Buy Love, Sell Fear

October 3, 2023

Elon Musk Calls Fiat Currency A Scam

October 3, 2023

US Government Frames Bitcoin Privacy As “Criminal”

October 2, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Categories
  • AltCoins (1,399)
  • Bitcoin (2,057)
  • Blockchain (1,384)
  • Business (1,378)
  • Crypto (1,365)
  • Investment (1,383)
  • Metaverse (1,361)
  • Upcoming (1,319)
Facebook Instagram
  • Contact Us
  • privacy policy
  • about us
© 2023 Designed by investorstoday.

Type above and press Enter to search. Press Esc to cancel.