After it was claimed that El Salvador’s president, Nayib Bukele, was holding part of the country’s Bitcoin on the FTX cryptocurrency exchange, Changpeng Zhao (CZ), the CEO of Binance, seemed to update the crypto community on the purported rumors. After billionaire Mike Novogratz, a proponent of the Terra (LUNA) ecosystem before its collapse, said during…
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…