FTECH

EXCLUSIVE Bankman-Fried’s FTX, parents bought Bahamas property worth $121 mln

FTX unit purchased 7 condos in upscale resort for “key personnel” Bankman-Fried’s parents named owners of $16.4 million vacation home Bankman and Fried tell Reuters: Seeking to return the deed to FTX NEW PROVIDENCE, Bahamas, Nov 22 (Reuters) – Sam Bankman-Fried’s FTX, his parents and top executives of the failed cryptocurrency exchange have purchased at …

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Crypto lender Genesis says no immediate plans to file for bankruptcy

Nov 21 (Reuters) – Cryptocurrency lender Genesis said on Monday it had no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX l forced to suspend customer redemptions. “We do not intend to file for bankruptcy imminently. Our goal is to resolve the current situation on a consensual basis without …

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FTX fires three of its top executives – WSJ

Nov 18 (Reuters) – Cryptocurrency exchange FTX, which recently sought protection in a U.S. bankruptcy court, has fired three of its top executives, including co-founder Gary Wang, The Wall reported on Friday. Street Journal, quoting an FTX spokeswoman. The other fired executives were engineering director Nishad Singh and Caroline Ellison, who ran FTX’s trading arm, …

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Special Report: FTX’s Bankman-Fried begged for a rescue even as he revealed huge holes in firm’s books

FTX founder sought to raise $7 billion from investors including Sequoia, Apollo, TPG, three sources say FTX also turned to Nomura and Saudi wealth fund – sources FTX and trading affiliate Alameda, nominally independent, both listed same assets on their books – investor presentations Records seen by Reuters show FTX diverted large share of fee …

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Regulators circle FTX as rival exchanges try to calm investors

US Department of Justice, SEC and CFTC investigating FTX, sources say Fed’s Brainard: Crypto Should Be Subject to Traditional Financial Rules Crypto.com CEO Says He Will Release Proof of Reserves Bitcoin stabilizes around $16,590 NEW YORK, Nov 14 (Reuters) – Bitcoin and other cryptocurrencies were under pressure on Monday after crypto exchange FTX’s dramatic collapse …

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EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

FTX founder Bankman-Fried secretly transferred $10 billion in funds to trading company Alameda – sources Bankman-Fried showed colleagues spreadsheets revealing transfer of funds to Alameda – sources Spreadsheets say between $1 billion and $2 billion of customer money goes unaccounted for – sources Executives set up accounting ‘backdoor’ that thwarted red flags – sources The …

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Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

November 10 (Reuters) – (This story contains language that some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off guard with a grim message. “I’m sorry,” he told them. “I screwed up.” The reason for the mea culpa: its announcement half an hour …

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Binance plans to buy FTX’s non-U.S. operations in latest crypto bailout

WASHINGTON/LONDON, Nov 8 (Reuters) – Crypto giant Binance has signed a non-binding deal to buy non-U.S. unit of FTX rival FTX.com to help cover a “liquidity crunch” to the cryptocurrency exchange, the companies said Tuesday, in a surprise move that raised further concerns about the risks investors face in the volatile crypto market. Binance CEO …

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Cryptoverse: After Merge, ether heads for a $20 billion Shanghai splurge

Souvenir tokens representing the Bitcoin, Ethereum, Dogecoin and Ripple cryptocurrency networks dive into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Join now for FREE unlimited access to Reuters.com Register Sep 20 (Reuters) – Merger has come, seen and conquered. Not that you would guess from crypto prices. The mega-upgrade to the …

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