FTX, Alameda, and 130 affiliated companies have commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code. Sam Bankman-Fried has resigned from his role as Chief Executive Officer. FTX files for bankruptcy as SBF resigns Striving Crypto Exchange FTX has informed the public that the FTX parent firm West Realm Shires Services, Alameda…
According to recent reports, FTX has spoken to American crypto exchange Kraken about a possible rescue arrangement. However, FTX and Kraken declined to comment, citing the ambiguity of the talks’ specifics and their potential for success or failure. The details emerged in public after Binance backed out Binance, already a sizable investor in FTX, was visited by…
Binance is backing out of its plans to acquire FTX, the company said Wednesday, leaving Sam Bankman-Fried’s crypto empire on the verge of collapse. The reversal comes one day after Binance CEO Changpeng Zhao announced that the world’s largest cryptocurrency firm had reached a nonbinding deal to buy FTX’s non-U.S. businesses for an undisclosed amount, rescuing…
Poly Network, a DeFi project all about linking up blockchains, got hit hard—a massive $611 million hack that’s being called the biggest decentralized finance heist yet. The crew broke the news on Twitter on August 10, 2021, and the fallout’s been swift. Tether’s already blacklisted the stolen Ethereum-based USDT, and Binance’s big boss, Changpeng Zhao,…