crypto exchange FTX – Page 2

[ad_1] Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday.The embattled company's new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers' assets, according to a tweet by FTX's general counsel Ryne Miller. FTX is also coordinating with law enforcement and regulators, the company said. Exactly how much money is involved is unclear, but analytics firm Elliptic estimated Saturday that $477 million was missing from...

[ad_1] Sam Bankman-Fried was supposed to be different than the run-of-the-mill crypto types. He was this wunderkind with a preternatural gift for math. Sam Bankman-Fried was supposed to be different than the run-of-the-mill crypto types. He was this wunderkind with a preternatural gift for math who had quickly built a crypto empire and then shrewdly expanded it during the worst of the industry's meltdown this summer. So the sudden collapse of his crown jewel -- the crypto exchange FTX.com, which now needs a bailout from its chief rival, Binance Holdings -- has left crypto investors in stunned disbelief. If people learned anything from the industry's spectacular meltdowns in the spring -- including the TerraUSD stablecoin, hedge fund Three Arrows Capital and lender Celsius Network...

Tag: crypto exchange FTX

Funds vanish at bankrupt crypto exchange FTX; probe underway

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