The parent company FTX stopped its operations in November last year after a public collapse and filed for bankruptcy along with 134 subsidiaries. Its Japanese arm’s business was suspended and was supposed to resume withdrawals in December. The exchange pointed out that there might be delays in the processing of the withdrawals due to the…
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In its agreement with Nexo, the US watchdog pointed out that the crypto company has cooperated with the staff. Furthermore, Nexo announced in December it will cease the offer and sale of EIP in certain states and is phasing out of products and services in the US. Nexo released a statement regarding the resolution with…
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Coinbase made the announcement on Wednesday, telling its customers they can withdraw their fiat and crypto holdings from Coinbase until 16 February 2023. The company recommends that its clients transfer their funds to other Virtual Assets Service Provider, Coinbase Wallet or any other self-hosted wallet or they can liquidate their portfolio and withdraw their funds…
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FTX later challenged the regulator’s calculations, saying its digital assets seized in November were worth just $296 million. SCB said that these challenges were based on “incomplete information.” The regulator responded: The US Debtors’ continued lack of diligence when making public statements concerning the Commission is disappointing, and reflects a cavalier attitude towards the truth…
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The US-based crypto exchange said it has enough funds to ensure all clients can withdraw their assets in that period. Clients will be offered the option to transfer their crypto funds to a third-party wallet or convert them to Japanese yen. Kraken initially launched services in Japan in 2014 and pulled out in 2018. The…
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The Singaporean regulator’s statements follow the sudden quick collapse of FTX which began with a liquidity crisis, a failed bailout, which Binance backed out from, and an over $600 million hack, forcing the crypto exchange to file for bankruptcy in the US. After the former CEO and founder of FT, Sam Bankman-Fried, was replaced, the…
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FTX General Counsel Ryne Miller shared in a tweet later that the exchange is moving their digital assets to cold storage as the FTX to mitigate damage from unauthorized transactions. FTX and FTX US appear to be affected by a Trojan. The crypto disaster unfolded on twitter as FTX customers claimed that they received SMS…
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Reuters reported that Bankman-Fried told staff members he has discussed raising $1 billion from Justin Sun, the Founder of the blockchain, Tron. FTX’s found has also discussed raising funds with rival exchange OKX and stablecoin platform Tether, Reuters said. Justin Sun tweeted on Thursday that Tron was “putting together a solution” for FTX. He said:…
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Earlier this year, FTX was valued by private investors at $32 billion. The proposed acquisition came after a massive liquidity crisis hit FTX which was a result of concerns with withdrawal issues and Binance’s decision to liquidate its entire holdings of FTX's exchange token FTT. Binance CEO Changpeng Zhao told his employees in as memo…
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FTX CEO Sam Bankman-Fried had this to say on twitter: Things have come full circle, and http://FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for http://FTX.com (pending DD etc.). Bankman-Fried highlighted that the important thing in the situation is that “customers are protected.”…
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