Articles Related to FTX

The bankrupt cryptocurrency exchange FTX is considering resuming operations, according to Chief Executive Officer John Ray.

FTX informed creditors that it had lost approximately $415 million in cryptocurrencies due to hacks since declaring bankruptcy on November 11.

According to the lawyer for bankrupt cryptocurrency exchange FTX, the company has recovered more than $5 billion in cash and other liquid assets, significantly increasing the amount recognized by new executives as it works to repay creditors.

Sam Bankman-Fried was extradited to the United States from The Bahamas to face fraud charges in connection with the demise of cryptocurrency exchange FTX.

The repercussions of FTX’s demise continue to persist throughout the cryptocurrency market, with insurance companies being the most recent group to minimize their business with cryptocurrency firms and traders who had relationships with FTX.

Federal prosecutors charged FTX Trading founder Sam Bankman-Fried on Tuesday with eight counts of fraud, money laundering, and other financial crimes, with a maximum sentence of 115 years in prison if convicted.

According to a Reuters investigation, FTX’s chief engineer, Nishad Singh, made a secret change to the cryptocurrency exchange’s software in mid-2020.