SBF Had a Secret ‘Back Door’ to Transfer Billions: Report
Sam Bankman-Fried, the founder of FTX, allegedly covertly transferred $10 billion to an Alameda trading business on Friday night via a software “backdoor.”
Sam Bankman-Fried, the founder of FTX, allegedly covertly transferred $10 billion to an Alameda trading business on Friday night via a software “backdoor.”
Late on Friday, more than $600 million in cryptocurrency vanished from the wallets of the bankrupt cryptocurrency corporation FTX
A list of organizations having exposure to FTX and Alameda Research started to become viral on Twitter. Their liabilities range from $10bn to $50bn.
With Sam Bankman-Fried stepping down as CEO, FTX, the second-largest cryptocurrency exchange in the world, has filed for bankruptcy protection in the US.
With a minimum loss of -9.2% and a maximum loss of 61.2%, investors who keep their investments for more than a day but less than 24 months, are still losing money.
The SEC claims they are looking into possible securities breaches involving FTX, FTX US, and founder and CEO Sam Bankman-Fried.
Binance has published information on their hot and cold wallet addresses as part of the ongoing commitment to openness and encouraging trust in the ecosystem.
Reports: At least $4 billion in FTX money were allocated by SBF to support Alameda. These FTX funds included certain consumer deposits. Read CNL for more.
Justin Sun, the founder of Tron, has attracted investors’ attention by acting after the acquisition between Binance and FTX fell through. Read CNL.
Sequoia Capital, a venture capital company, revealed in a letter on November 10 that it has reduced the value of their $213.5 million investments in FTX to $0.
Soccer player Lionel Messi is now an investor and a brand advocate for Sorare, a nonfungible token trading game in France. Read CNL for more.
Rep. Ted Budd has won the North Carolina US Senate election, according to a tweet. He has received appreciation from the crypto industry. Read CNL.