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Blockchain analytics firm Nansen revisited suspicious on-chain activity between crypto exchange FTX and trading firm Alameda Research in a new report on the lead-up to FTX’s implosion.
FTX’s bankruptcy case proceeded as the company moved to recover $3.9 billion from Genesis.
FTX’s bankruptcy is ongoing and the nature of what will happen with those $5 billion in assets, or any…
In the aftermath of FTX’s collapse, prices in the crypto market tumbled and a slew of other digital asset firms imploded.
Source: https://www.politico.com/news/2023/10/03/sam-bankman-fried-trial-crypto-lobby-congress-00118858
In the aftermath of FTX’s demise, confidence in the wider Web3 ecosystem has certainly taken a downturn.
Source: https://betanews.com/2023/01/28/redefining-the-metaverse-web3-world/
Reports said that one potential option discussed was to let FTX’s creditors convert a portion of their holdings to a stake in a reopened exchange.
Source: https://punchng.com/bankrupt-ftx-mulls-reopening-as-recovered-assets-hit-7-3bn/
Since dueling bankruptcies were filed in the two nations in November, FTX’s US bankruptcy team has been in conflict with Bahamian authorities.
Source: https://www.chiangraitimes.com/business/us-bahamas-ftx-teams-to-coordinate/
Subsequently, negotiated a rescue plan for BlockFi, though the loss of liquidity in FTX’s own crisis ultimately weakened the $400 million revolving credit facility and caused the elimination of the deal.
U.S. prosecutors have called Bankman-Fried the mastermind of a fraud that led to FTX’s collapse, and included the misappropriation of billions of dollars of customer funds.
Source: https://www.shorenewsnetwork.com/2023/07/20/ftx-sues-bankman-fried-others/