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Tag: FTX

November 10, 2022

The FTX Collapse Shakes The Crypto Universe!

Sam Bankman-Fried's (SBF) crypto exchange FTX will not be acquired by Binance. After less than 24 hours after announcing the LOI to acquire FTX, Binance canceled the acquisition via Twitter. The reason given was the mishandled customer funds and the investigation by US authorities. Allegedly, up to 90% of FTX's customer funds have disappeared. was scared to death, SBF played another round of League of Legends. Sure as hell, he will be facing massive legal troubles!

November 9, 2022

The FTX Bail-Out And The Fall Of Crypto Mogul Sam Bankman-Fried!

Apparent crypto mogul Sam Bankman-Fried aka SBF and his FTX crypto exchange may not have been as financially strong as always presented themselves. After FTX users complained on Twitter about withdrawal issues, Binance CEO Changpeng Zhao aka CZ announced on Twitter that Binance had signed a non-binding LOI to bail out and acquire FTX, which had slipped into a liquidity crisis. SBF's image as a deep-pocket crypto mogul has probably suffered massive damage in the process.

September 28, 2022

People Radar: FTX US Executive Brett Harrison Resigns And Hands Over To Zach Dexter!

Brett Harrison, the FTX US president and CEO of FTX US Derivates announced his resignation via Twitter shortly after it became known that FTX US won the bid for the assets of bankrupt crypto lender Voyager Digital. Over the next few months, he would transfer his responsibilities and move into an advisory role at the company. Zach Dexter has taken over his role and is already listed on the company's website beside Sam Bankman-Fried.

September 27, 2022

FTX US Wins Bid For Assets Of Bankrupt Crypto Lender Voyager!

FTX US, part of the FTX Group of Sam Bankman-Fried, has won the auction for the assets of the bankrupt crypto lender Voyager Digital in a bid valued at about $1.42 billion. However, the Voyager claims against hedge fund Three Arrows Capital (3AC) will remain with the bankruptcy estate, distributing any available recovery on such claims to the estate's creditors. Voyager issued a notice of default for failing to make required payments on a loan of 15,250 bitcoin.

September 25, 2022

FTX Crypto Congloremat Plans To Raise $1 Billion For Bear Market Acquisitions!

According to a CNBC report, Sam Bankman-Fried’s crypto conglomerate FTX talking to investors to raise up to $1 billion in new funding at a valuation..

FinTelegram

September 18, 2022

Interesting! UK Regulator Warns Against Sam Bank-man-Fried’s Crypto Exchange FTX!

American Sam Bankman-Fried is currently considered the shooting star among crypto billionaires. Among other things, his FTX advertises in Formula 1 and claims to be one of the fastest-growing crypto exchanges worldwide. In 2021, the revenue of the crypto exchange soared by more than 1,000%, from $89 million to $1.02 billion in 2021. However, the UK regulator FCA is unimpressed and has issued a warning against FTX, saying that it is not authorized to target people in the UK.

September 8, 2022

The Disastrous Trustpilot Ratings Of Crypto Exchanges And The Exceptions CEX, Oobit, And BitPanda!

The well-known crypto exchanges like Coinbase, Binance, Crypto.com, or FTX seem to have a problem with their customers. On Trustpilot, most of the top crypto exchanges have scam ratings with customers complaining about unfounded blocked accounts and problems with customer service. Exceptions are CEX.io, Oobit, or BitPanda, which stand out like a lighthouse on Trustpilot. With 4.7-stars and 4.1-stars respectively, CEX.io and BitPanda apparently perform incredibly better than their international competitors.

September 1, 2022

Crypto Fraud Tsunami: U.S. Congress Asks Crypto Exchanges To Explain Fraud Protection Mechanisms!

Crypto payments have given scams a huge boost. That’s the sad truth and the dark side of the dawning crypto age. Cryptocurrencies have become scammers’..

August 22, 2022

Trading Tokenized Stocks And Regulation – FTX v DeFiChain!

Trading tokenized shares are currently all the rage on crypto exchanges. The aim is to indirectly offer customers trading with traditionally listed shares such as Apple, Microsoft, or Tesla without the intermediation of brokers and low fees. We think tokenized shares also qualify as securities and require a license. While FTX trades tokenized shares through its CySEC-regulated subsidiary K-DNA Financial Services Ltd and other regulated entities, Julian Hosp's DeFiChain operates without regulatory permission. Here's a quick comparison.

Crypto

August 21, 2022

The Crypto Cash Machine: Eye-Watering Leaked FTX Financials!

CNBC published an interesting report about leaked financials of crypto exchange FTX, which literally exploded during the crypto hype in 2021. The revenue of the crypto exchange controlled by Sam Bankman-Fried soared more than 1,000%, from $89 million to $1.02 billion in 2021. Operating income was $272 million, up from $14 million a year earlier. FTX saw a net income of $388 million last year, up from just $17 million a year earlier. FTX declined to comment, said CNBC.

August 20, 2022

U.S. FDIC Ordered FTX To Stop Misleading Consumers About Deposit Protection!

The crypto exchange FTX, controlled by Sam Bankman-Fried, received a cease-and-desist warning on Friday from the Federal Deposit Insurance Corporation (FDIC), telling the company to stop “misleading” consumers about the insurance status of their funds. The FDIC issued letters to FTX.US, Cryptonews.com, Cryptosec.info, SmartAsset.com, and FDICCrypto.com. Unlike deposits held at U.S. banks, cryptocurrencies stored with brokerages are not protected by the government.

Broker

August 4, 2022

Online Broker Robinhood Lays Off 23% Of Its Staff!

The online trading platform Robinhood, which popularized one-click trading and helped fuel last year’s meme stock frenzy, announced that it would lay off about 23 percent of its workforce. It is the second layoff initiative within just a few months. In a blog post, Robinhood CEO Vlad Tenev said that the layoffs would affect employees across the company, especially those in operations, marketing, and program management roles. Shares of Robinhood rose 11.7% on Wednesday following the layoff announcement.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.