Fun

News Feed - 2023-10-25 06:10:13

Amaka Nwaokocha14 hours agoFTX navigates post-bankruptcy options, weighs sale or revivalOptions reportedly include selling the entire exchange, including its extensive customer base of over nine million, to potentially forming a partnership with another entity to revive the platform.5319 Total views22 Total sharesListen to article 0:00NewsJoin us on social networksFTX is carefully considering its future after going through bankruptcy proceedings. 


According to a Bloomberg report, during a court hearing in Wilmington, Delaware, Kevin Cofsky, the company’s investment banker from Perella Weinberg Partners, revealed that a decision regarding the company’s direction would be made by mid-December. Additionally, active negotiations are underway with various investors regarding potentially binding offers.


Several possibilities are being considered, including selling the entire exchange, which includes its extensive customer base of over nine million, to forming a partnership with another entity to revive the platform. Cofsky has contemplated the prospect of FTX independently revitalizing its trading platform. However, the identities of the potential bidders have not been disclosed.


Following its bankruptcy declaration last year, FTX has sought to raise funds for creditor repayment. As per court records, FTX administrators have successfully reclaimed approximately $7 billion in assets, with a substantial $3.4 billion in cryptocurrency.


Related:Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses


Additionally, during the court proceedings, the company’s attorney, Andrew Dietderich, reportedly disclosed that certain complex disputes with key creditor groups have reached a preliminary resolution. This development allows FTX to proceed with a comprehensive payout strategy by December. Nevertheless, the precise percentage of customer recovery remains undetermined and will largely hinge on the outcome of either selling the exchange or revitalizing it.


Former FTX CEO Bankman-Fried is currently on criminal trial in New York, where he faces allegations of diverting FTX customer funds to a separate entity under his control. These funds purportedly funded high-risk trades, substantial political contributions and the acquisition of luxury properties.


Magazine:Can you trust crypto exchanges after the collapse of FTX?# Business# Bankruptcy# Cryptocurrency Exchange# Crimes# Sam Bankman-Fried# FTXAdd reactionAdd reactionRead moreUK’s FinProm a welcome change, but challenge persists — Transak compliance headWill Sam Bankman-Fried fix his case when he takes the stand?Michael Lewis" new book puts a positive spin on Sam Bankman-Fried

News Feed

Technical charts suggest a roaring altseason may be just ahead: Analysts
Martin Young5 hours agoTechnical charts suggest a roaring altseason may be just ahead: AnalystsBitcoin dominance charts moving sideways may be a reversal signal that could kick off altseason, say analysts.7781 Total view
Linkin Park’s Mike Shinoda Auctions his First Non-Fungible Token
Linkin Park’s Mike Shinoda Auctions his First Non-Fungible Token Musician Mike Shinoda, guitarist and founding member of the American rock band Linkin Park, ha
Analyst Predicts XRP Price Will Reach $20-$30 — Elliott Wave Theory Holds The Key
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin Entrepreneur Brock Pierce Joins the 2020 US Presidential Election
Bitcoin Entrepreneur Brock Pierce Joins the 2020 US Presidential ElectionBlockchain entrepreneur and former Disney child actor, Brock Pierce, is running for President of the United
Biden out, bull run in? Here’s what analysts think
Tom Mitchelhill5 hours agoBiden out, bull run in? Here’s what analysts thinkBiden’s sudden move to abandon the 2024 presidential race could be a “huge boost” for crypto assets, but it may be too soon to get excit
AI tokens are more hype than value right now, says Coinbase analyst
Arijit Sarkar3 hours agoAI tokens are more hype than value right now, says Coinbase analystWhile some crypto-AI tokens continue to deliver profitable trades, the long-term sustainability of the ecosystem will require mor
BRICS De-Dollarization Push, China, and Crypto Threaten US Dollar’s Dominance: Analyst
BRICS De-Dollarization Push, China, and Crypto Threaten US Dollar"s Dominance: Analyst Fitch Solutions’ global head of country risk has named the rising adoption of cryptocur
Anthony Scaramucci’s 2025 Crypto Picks: Top Altcoins To Buy This Year
Este artículo también está disponible en español. In an interview with popular crypto-focused YouTube channel Altcoin Daily, veteran financier and SkyBridge Capital found
Sanctioned Russian Bank Tests In-app Operations With Digital Rubles
Sanctioned Russian Bank Tests In-app Operations With Digital Rubles A Russian bank, one of the country’s largest by assets, has conducted a successful trial with digital rub
Bitcoin Jumps 12% as China’s Xi Embraces Blockchain, Boosting Crypto Sentiment
View Bitcoin prices are rebounding from a five-month low touched earlier this week. Chinese President Xi Jinping said his country should seize opportunities afforded by blockchain, the technology that underpins bitcoin.
Editorial9 hours agoWhat will Bitcoin do if the Justice Department takes aim at Binance?If the U.S. DOJ indicts Binance executives on charges similar to those already issued by regulators, could it have an unusual effect
5 Bitcoin Cash Full Node Teams to Raise Funds With the Noncustodial Flipstarter App 
5 Bitcoin Cash Full Node Teams to Raise Funds With the Noncustodial Flipstarter App The creators of the noncustodial funding application, Flipstarter have recently announced there