FTX debtors are in talks with finserv firm Perella Weinberg Partners for various sale or reorganization attempts. However, the engagement of PWP is subject to the bankruptcy court’s approval.
The SEC instituted administrative proceedings against American CryptoFed to determine the issuance of a stop order which would retract its registration and bar sales of in-house tokens, Ducat and Locke.
The fall of FTX undoubtedly hurt investor sentiment toward crypto, but it won’t change its popularity as a means for cross-border transactions.
Brad Garlinghouse, CEO of Ripple, said the company would be interested in companies owned by FTX that serve business customers.
The crypto community has criticized Forbes magazine for dubbing Caroline Ellison “Queen Caroline” and “a new darling of the alt-right.”
Banks should embrace crypto as a way to mitigate risk and prevent losses that consumers at the hands of rogue crypto exchanges.
There were ample warning signs to tip investors off to problems behind the scenes at FTX.
FTX has an estimated $8 billion hole in its balance sheet. Investors desperate to get their money back are being targeted by phishing scams.
Though Dogecoin has seen a near 45% rally over the past month, its use cases remain limited, especially given that it can’t interact with smart contracts.