FTX CEO Announces Downsizing In Alameda, Promises To Reimburse Users
Sam Bankman Fried, CEO at FTX, explained the current state of the crypto exchange platform and their efforts to make users whole. The trading venue collapses after facing a “liquidity crunch” and halting withdrawals. Related Reading: How FTX Collapse Caused Crypto Market To Shed Over $100 Billion In 24 Hours Using his Twitter account, Bankman-Fried […]
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After a successful fundraising effort, the company said it can now reimburse most, but not all users.
According to a report stemming from the blockchain analytics firm Argus, Sam Bankman-Fried’s trading firm Alameda Research obtained tokens ahead of FTX.com listings. The report claims that Alameda acquired roughly $60 million worth of tokens before the digital assets were scheduled to be listed on FTX. Blockchain Analytics Firm Says Alameda Had an Insider’s Edge a Month Prior to FTX Listings Wall Street Journal (WSJ) contributor Caitlin Ostroff detailed on Nov. 14, 2022, that analysis from the blockchain analytics firm Argus indicates the now-bankrupt Alameda Research had....
Coinbase CEO Brian Armstrong said that the recent FTX and Alameda debacle was a result of risky practices such as the misuse of user funds. Amid the liquidity crisis that fell over crypto exchange FTX and trading firm Alameda Research, some of the largest crypto companies face calls for transparency to let users know if there are risks. However, executives assured the community that they do not have exposure to either of the troubled firms. In response to concerns brought up by the crypto community, Tether CTO Paolo Ardoino clarified in a tweet that the stablecoin issuer has no exposure to....
A few days ago here at CCN we reported that Bitcoin's black mark Silk Road 2.0 had been hacked. Defcon, in a long post to Silk Road 2.0 forums on Tor, explained that three attackers had used the transaction malleability bug to steal over 4,763 BTC directly from Silk Road's hot wallet. Original estimates still haven't been confirmed but Defcon himself reports that 47% of all users had lost all of their funds. As always, I must warn readers that the majority of things on the Deepweb are not in any way shape or form trustworthy. It is my, and the good Government's advice, to stay away from....
YFI price is still in a downtrend and many investors believe all attempts at recovery are being suppressed by Alameda Research. Yearn Finance (YFI) price has been in a serious rut during the past 2 weeks and many in the crypto community blame the sharp correction on Sam Bankman-Fried (SBF), the CEO of Alameda Research and FTX. In the past month, DeFi giant Yearn.finance’s native token YFI dropped 62.7% from $43,970 to $16,360.As Cointelegraph has reported, the majority of DeFi tokens corrected 40%-60% in September and this sell off took place as Bitcoin and Ether (ETH) prices also dropped.....