FTX.
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According to a recent article from The Wall Street Journal on June 28, FTX, the insolvent #cryptocurrency exchange, is getting closer to relaunching itself as a totally new exchange. The company has started looking for interested parties to restart the FTX.com exchange, according to John Ray, the restructuring chief at #FTX.
According to people with knowledge of the situation, FTX has been in communication with possible #investors about raising money for the relaunch.
Blockchain financing firm Figure is one of the interested parties.
According to people with knowledge of the situation, FTX has been in communication with possible #investors about raising money for the relaunch.
Blockchain financing firm Figure is one of the interested parties.
THE #bullrun2024! ? ? ?
Oliver L. Velez, an experienced digital assets trader, has advised crypto investors to get their bitcoins off crypto exchanges and prepare to buy the dip. Velez said this in a recent post on X (formerly Twitter) where he identified a crucial reason why the crypto market might experience another significant crash.
$BNB is near #BinanceSquareExplorers last leveraged liquidation price once again. Remember when Caroline of Alameda tried to defend the $22 price before it and #FTX. imploded? A $BNB collapse would bring down a house of cards 10x the size of FTX. Get your #Bitcoin off all exchanges.
Oliver L. Velez ⚡️ 13%'er Bitcoine September 11, 2023
Velez claimed that at its current price, BNB is near Binance’s last leveraged liquidation price. He believes that a BNB collapse would impact the entire crypto market in a significant way. According to Velez, a BNB crash will send the crypto market tumbling by more than ten times the magnitude of the crash experienced during the FTX collapse of last November.
The highly experienced trader recalled an event that preceded the FTX collapse, when Carolin Ellis, CEO of Alameda Research, posted that Alameda would buy Changpeng Zhao’s FTT tokens for $22 each. Of course, that did not materialize and could not save the market from an eventual collapse. Velez thinks the crypto market is preparing for a cleansing flush-out before the next bull run in 2024.
Ecks, a respondent to Velez’s post, noted that Changpeng Zhao, CEO of Binance, already claimed that the exchange has no loans. If that is the case, Ecks questioned the possibility of liquidation.
Oliver L. Velez, an experienced digital assets trader, has advised crypto investors to get their bitcoins off crypto exchanges and prepare to buy the dip. Velez said this in a recent post on X (formerly Twitter) where he identified a crucial reason why the crypto market might experience another significant crash.
$BNB is near #BinanceSquareExplorers last leveraged liquidation price once again. Remember when Caroline of Alameda tried to defend the $22 price before it and #FTX. imploded? A $BNB collapse would bring down a house of cards 10x the size of FTX. Get your #Bitcoin off all exchanges.
Oliver L. Velez ⚡️ 13%'er Bitcoine September 11, 2023
Velez claimed that at its current price, BNB is near Binance’s last leveraged liquidation price. He believes that a BNB collapse would impact the entire crypto market in a significant way. According to Velez, a BNB crash will send the crypto market tumbling by more than ten times the magnitude of the crash experienced during the FTX collapse of last November.
The highly experienced trader recalled an event that preceded the FTX collapse, when Carolin Ellis, CEO of Alameda Research, posted that Alameda would buy Changpeng Zhao’s FTT tokens for $22 each. Of course, that did not materialize and could not save the market from an eventual collapse. Velez thinks the crypto market is preparing for a cleansing flush-out before the next bull run in 2024.
Ecks, a respondent to Velez’s post, noted that Changpeng Zhao, CEO of Binance, already claimed that the exchange has no loans. If that is the case, Ecks questioned the possibility of liquidation.
FTX and BlockFi reach tentative settlement for up to $874 million: CNBC Crypto World
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Alex Taub, CEO and co-founder of Truth Arts, explains how his company is helping turn non-fungible tokens into something that could generate value for NFT holders in the future.
#FTX. #FTX.Trading.Ltd #BTC/USDT: $BTC $ETH $BNB
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Alex Taub, CEO and co-founder of Truth Arts, explains how his company is helping turn non-fungible tokens into something that could generate value for NFT holders in the future.
#FTX. #FTX.Trading.Ltd #BTC/USDT: $BTC $ETH $BNB
"FTX's SBF Reportedly Guides Prison Guard Toward Solana Investment"
Despite being incarcerated, Sam Bankman Fried (SBF), the disgraced founder of collapsed crypto exchange FTX, continues recommending Solana investment to prison guards.
Read more on: https://thecryptobasic.com/2024/02/28/ftx-founder-sbf-reportedly-advises-prison-guard-to-invest-in-solana/
#FTX. #SBFFTX #Crypto #CryptoNews🔒📰🚫 #CryptoNewsUpdate
Read more on: https://thecryptobasic.com/2024/02/28/ftx-founder-sbf-reportedly-advises-prison-guard-to-invest-in-solana/
#FTX. #SBFFTX #Crypto #CryptoNews🔒📰🚫 #CryptoNewsUpdate
Temasek Reduces Compensation for Execs Linked to $275M FTX Investment
Singapore's investment firm, Temasek Holdings, has decided to reduce the pay of executives who were responsible for investing in the failed #cryptocurrency exchange called #FTX.
After looking into the $275 million loss from FTX's collapse in November 2022, Temasek found that there was no misconduct, but they still wanted to hold the investment team and senior management accountable by reducing their pay.
Temasek used to be the second-largest investor in FTX, owning 7 million shares. However, FTX's collapse raised concerns about Temasek's investment decision. Temasek believes that it's important to invest in new areas and technologies to understand how they might affect their existing investments.
The $275 million loss represented only a tiny fraction, 0.09%, of Temasek's overall portfolio, which was valued at more than $293 billion at the time. Temasek says that they did a thorough investigation before investing, including looking at financial records, assessing risks, seeking legal advice, and talking to people who knew about FTX.
Temasek's chairman, Lim Boon Heng, said that he was disappointed with the investment outcome and the damage it caused to their reputation. He mentioned that there was fraudulent behavior where important information was intentionally hidden from investors, including Temasek. Singapore's Deputy Prime Minister Lawrence Wong also acknowledged the financial loss and the harm to Temasek's reputation caused by FTX's collapse.
Temasek Stays Committed to Innovation Despite FTX Setback
In other news, Temasek denied rumors that they had invested $10 million in a company called Array, which is working on a special currency system. They clarified that this information was incorrect.
Temasek's experience with the FTX investment reminds us that there are risks involved in investments and they can impact a company's reputation. However, despite this setback, Temasek remains committed to investing in new areas and technologies to adapt to a changing world. They emphasize the importance of doing careful research and talking to experts in the industry before making investment decisions.
To sum it up, Temasek's internal review found no wrongdoing in the FTX investment, but they still reduced the pay of the executives involved. This decision shows that Temasek wants to take responsibility and maintain their good reputation and financial stability.
After looking into the $275 million loss from FTX's collapse in November 2022, Temasek found that there was no misconduct, but they still wanted to hold the investment team and senior management accountable by reducing their pay.
Temasek used to be the second-largest investor in FTX, owning 7 million shares. However, FTX's collapse raised concerns about Temasek's investment decision. Temasek believes that it's important to invest in new areas and technologies to understand how they might affect their existing investments.
The $275 million loss represented only a tiny fraction, 0.09%, of Temasek's overall portfolio, which was valued at more than $293 billion at the time. Temasek says that they did a thorough investigation before investing, including looking at financial records, assessing risks, seeking legal advice, and talking to people who knew about FTX.
Temasek's chairman, Lim Boon Heng, said that he was disappointed with the investment outcome and the damage it caused to their reputation. He mentioned that there was fraudulent behavior where important information was intentionally hidden from investors, including Temasek. Singapore's Deputy Prime Minister Lawrence Wong also acknowledged the financial loss and the harm to Temasek's reputation caused by FTX's collapse.
Temasek Stays Committed to Innovation Despite FTX Setback
In other news, Temasek denied rumors that they had invested $10 million in a company called Array, which is working on a special currency system. They clarified that this information was incorrect.
Temasek's experience with the FTX investment reminds us that there are risks involved in investments and they can impact a company's reputation. However, despite this setback, Temasek remains committed to investing in new areas and technologies to adapt to a changing world. They emphasize the importance of doing careful research and talking to experts in the industry before making investment decisions.
To sum it up, Temasek's internal review found no wrongdoing in the FTX investment, but they still reduced the pay of the executives involved. This decision shows that Temasek wants to take responsibility and maintain their good reputation and financial stability.
Good morning!
There's some panic about #BTC🔥🔥🔥🔥
dropping to $8000, but let's clarify: it didn't happen! It occurred on a lesser-known exchange resembling #FTX.
These isolated incidents shouldn't rattle us; small exchanges like #BITMEX often involve shady practices.
Relax, folks! Let's worry when it impacts the broader market, not just some sketchy exchange. #Write2Earn #HotTrends .
Please follow for updates and likes. Tips appreciated! $BTC $SOL L $BNB
There's some panic about #BTC🔥🔥🔥🔥
dropping to $8000, but let's clarify: it didn't happen! It occurred on a lesser-known exchange resembling #FTX.
These isolated incidents shouldn't rattle us; small exchanges like #BITMEX often involve shady practices.
Relax, folks! Let's worry when it impacts the broader market, not just some sketchy exchange. #Write2Earn #HotTrends .
Please follow for updates and likes. Tips appreciated! $BTC $SOL L $BNB
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Bullish
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#HotTrends #sol #DOGE #WIF #BTC
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Ripple's legal team says the SEC is losing
Ripple's legal team recently revealed that the SEC is facing difficulties.#StuartAlderotti, head of the legal team, stated in a tweet that the SEC is being criticized by judges due to its shady behavior.
Furthermore, #Alderotti mentioned that within the US government, #SEC is also the target of criticism for hiding information about its meetings with #SambankmanFried before the collapse of #FTX. . It is important to remember that the United States Congress requested #GaryGensler , chairman of the SEC, all information about these meetings, but the SEC did not provide all the information requested.
In short, according to Stuart Alderotti, the SEC is not only losing in court, but it is also damaging its reputation as an institution. $XRP
Ripple's legal team recently revealed that the SEC is facing difficulties.#StuartAlderotti, head of the legal team, stated in a tweet that the SEC is being criticized by judges due to its shady behavior.
Furthermore, #Alderotti mentioned that within the US government, #SEC is also the target of criticism for hiding information about its meetings with #SambankmanFried before the collapse of #FTX. . It is important to remember that the United States Congress requested #GaryGensler , chairman of the SEC, all information about these meetings, but the SEC did not provide all the information requested.
In short, according to Stuart Alderotti, the SEC is not only losing in court, but it is also damaging its reputation as an institution. $XRP
FTX CEO John Ray lll was paid $1,575 per hour last month as bankruptcy trudges on
FTX CEO John J. Ray lll was paid $1,575 an hour last month for his work in overseeing the exchange's bankruptcy, according to a court document filed on Thursday.
From March 1 to March 31, Ray worked 231 hours and was paid a total of $363,825. Ray's work included weekly phone calls and in-person board meetings to manage bankruptcy restructuring efforts, as well as leading weekly calls and meetings, according to a monthly staffing report.
"Additionally, Mr. Ray has worked to establish and maintain internal controls, address and manage employees and employee concerns, interacted with management in Japan, Europe and other locations throughout the world and managed cash, other assets and investments, data and systems related issues with respect to all Debtors," the filing read. "Mr. Ray also provided oversight related to the Debtors’ public relations and communications plans."
FTX collapsed in November 2022 and owes customers over $8 billion.
Ray, who years ago helped clean up Enron's corporate collapse, had previously alluded to the FTX bankruptcy being worse than Enron. In filings following FTX's downfall, Ray said he had never seen "such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here."
Notably, Ray is the only professional staffed by Owl Hill, his advisory firm, which was once known as Greylock Partners, to work on behalf of the debtors.
#warning! #FTX. #Write2Earrn
FTX CEO John J. Ray lll was paid $1,575 an hour last month for his work in overseeing the exchange's bankruptcy, according to a court document filed on Thursday.
From March 1 to March 31, Ray worked 231 hours and was paid a total of $363,825. Ray's work included weekly phone calls and in-person board meetings to manage bankruptcy restructuring efforts, as well as leading weekly calls and meetings, according to a monthly staffing report.
"Additionally, Mr. Ray has worked to establish and maintain internal controls, address and manage employees and employee concerns, interacted with management in Japan, Europe and other locations throughout the world and managed cash, other assets and investments, data and systems related issues with respect to all Debtors," the filing read. "Mr. Ray also provided oversight related to the Debtors’ public relations and communications plans."
FTX collapsed in November 2022 and owes customers over $8 billion.
Ray, who years ago helped clean up Enron's corporate collapse, had previously alluded to the FTX bankruptcy being worse than Enron. In filings following FTX's downfall, Ray said he had never seen "such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here."
Notably, Ray is the only professional staffed by Owl Hill, his advisory firm, which was once known as Greylock Partners, to work on behalf of the debtors.
#warning! #FTX. #Write2Earrn
