The top financial regulator in the United Kingdom – the Financial Conduct Authority (FCA) – reportedly said that the cryptocurrency platform FTX does not have the necessary license to provide products or services in the country. The trading venue has been on a roll in the past several months, despite the market declines. Earlier this...Read More
Blockchain company Amber Group will see a reduction of its workforce in the range of 5%-10% this year. The Singapore-headquartered firm has about 900 staff on its rolls, increasing from around 200 to 300 before the 2021 bull market. Reducing Headcount “We are currently reducing in roles that are lower in the priority given market...Read More
After the market turmoil that brought massive pain to numerous crypto-related companies, FTX continues to channel money into such entities. The latest one in which the SBF-spearheaded organization will acquire a large stake is SkyBridge Capital. According to a CNBC report from earlier on September 9, FTX Ventures will take a 30% stake in SkyBridge...Read More
The retail gaming giant – GameStop – said it partnered with US brand of the popular cryptocurrency exchange – FTX. Over the course of the agreement, the former will begin carrying FTX gift cards in select stores. In addition, GameStop revealed that its quarterly sales declined to $1.14 billion compared to $1.18 billion in Q2,...Read More
The implosion of the South Korean stablecoin project Terra may have dented general sentiment towards the industry, but that has not stopped the second-largest city in the country from pursuing ambitious crypto and blockchain goals. Busan has announced a partnership with FTX to build blockchain-powered business solutions in the coming months. As part of the...Read More
FTX founder and CEO Sam Bankman-Fried, also known as SBF, clarified that there are no plans to acquire cryptocurrency exchange giant Huobi, contrary to previous reports. Previously, TRON’s Justin Sun also denied similar rumors. Sam Bankman-Fried made the clarification in a tweet on Monday (August 29, 2022). According to the billionaire: “Just to be explicit...Read More
The CEO of the cryptocurrency exchange FTX – Sam Bankman-Fried – said the venture capital arm of his company (FTX Ventures) will not merge with the principal trading firm Alameda Research. This comes as the latter’s Co-CEO resigned earlier this week. Bloomberg reported recently that FTX Ventures will absorb the operations of Alameda Research, both...Read More
Crypto exchange FTX has partnered with digital asset investment firm, Paradigm. The aim of the collaboration is to launch spread trading, which will essentially enable users to benefit from pricing dislocations with “cash-and-carry” plays. Spread Trading can be referred to as the purchase of one security and sale of a related security, called legs, as...Read More
FTX has revealed that it does not have any plans to halt or settle ETH futures prior to the highly-anticipated, Merge. In a recent announcement on Tuesday, the crypto derivatives exchange revealed that its Ethereum futures and perpetual contracts (ETH-0930, ETH-1230, ETH-PERP) will track the proof of stake Ethereum after the Merge. It further added,...Read More
The US subsidiary of crypto exchange FTX expanded its range of services offering its American customers the opportunity to trade stocks and Exchange-Traded Funds (ETFs). FTX US’s President – Brett Harrison – disclosed that the offering will be available to citizens of all 50 states, including Puerto Rico and the United States Virgin Islands. Buying...Read More
Off late, digital asset exchange FTX has been offering bailouts to struggling companies and expanding its operations via acquisitions. The latest firm that FTX is in talks for acquisition is – Bithumb. FTX-Bithumb M&A Deal Vidente, which holds a stake in the crypto exchange, has confirmed holding discussions about a potential sale of its stake...Read More
Web 3 startup Aptos has secured $150 million in funding led by FTX Ventures and Jump Crypto. The company will deploy its new capital towards elevating the “usability and socialization” of the decentralized web. FTX Extends its Reach As detailed in a blog post from Aptos on Monday, the funding round included support from multiple...Read More
FTX chief Sam Bankman-Fried has lashed out at the troubled crypto lender after its lawyers rejected the buyout offer. He said Voyager still has 75% of its assets and questioned why hasn’t the company returned any of the funds to its clients yet. He also went on to speculate that the lawyers may want to...Read More
The hobbled crypto lender released a transparency report for the quarter, which detailed its financial position amid the turmoil. In addition to $1.8 billion in outstanding loans, BlockFi’s net exposure amounted to $600 million. BlockFi’s Q2 Results As of June 30th this year, the company’s outstanding loans to institutional borrowers were approximately $1.5 billion. On...Read More
The leading cryptocurrency exchange – FTX – and its American affiliate – FTX US – are reportedly looking to secure additional funding. T At the beginning of the year, the trading venue, spearheaded by Sam Bankman-Fried, closed a $400 million fundraiser, which boosted its valuation to a whopping $32 billion. The financing was led by...Read More
Anthony Scaramucci’s Skybridge Capital has halted investor redemptions for one of its hedge funds – Legion Strategies. The fund, with $230 million in assets under management (AUM), happens to be one of the smaller offerings of the investment firm. Since the peak of the 2021 bull run, several crypto-assets, including Bitcoin and Ethereum, have plummeted...Read More
In the latest interview with Reuters, FTX CEO Sam Bankman-Fried (SBF) revealed the amount of financial ammunition still available for saving companies with drained liquidity from collapses. Meanwhile, he laid out his criterion for picking companies considered worth to be saved. SBF’s Bailout Strategy To fulfill his promise of leading the rescue program for struggling...Read More
The two parties have updated the previous term sheet as FTX will raise its revolving credit facility to $400 million. Additionally, the crypto exchange has the option to acquire BlockFi in the future for up to $240 million. The crypto lender has been among the most struggling companies in the industry lately, following the massive...Read More
The cryptocurrency platform Ledn reportedly displayed intentions to acquire a stake in BlockFi (a digital asset firm that provides crypto-backed loans). Previously, FTX also announced plans to buy the latter, offering just $25 million to close the deal. Ledn Joins the Race The cryptocurrency market crash has caused huge disruption to multiple firms part of...Read More
Note: This post has been updated to include direct comments from BlockFi CEO Zac Prince, in which he denies the deal. Crypto exchange FTX is reportedly finalizing terms to buy out the embattled crypto lending platform, BlockFi. However, the exchange is offering just $25 million – a 99% discount on BlockFi’s latest private valuation. Sources...Read More
FTX CEO Sam Bankman-Fried (SBF) recently shared his thoughts on the state of the crypto market, its trajectory, and the platforms and companies within it. He claimed that there are still many remaining “third-tier” crypto exchanges that are insolvent but yet to be exposed. More Instability to Come? During an interview published by Forbes on...Read More
FTX is not planning to buy Robinhood. The CEO of crypto exchange, Sam Bankman-Fried, refuted rumors about any such deal. According to the latest report, SBF said he is excited about Robinhood’s business prospects and collaboration in the future but clarified that FTX was not exploring opportunities to acquire the financial service company. I have...Read More
Sam Bankman-Fried (SBF)’s crypto exchange FTX is examining pathways by which it can acquire Robinhood, according to people with knowledge of the matter. As reported by Bloomberg on Monday, FTX is having internal deliberations on how it can buy out the brokerage app. The source of the information chose to remain anonymous, as this matter...Read More
Major cryptocurrency exchange FTX is looking to purchase a stake in struggling digital asset lender BlockFi, shortly after the latter received a $250 million revolving credit from the SBF-spearheaded company. According to a report by the Wall Street Journal, anonymous sources revealed that talks between FTX and BlockFi were still ongoing, and no decision has...Read More
Wealthy members of the crypto industry including brokers, venture capitalists, and investors have contributed over $52 million in political donations during this midterm election cycle. Half of those funds arrived in May alone, with the largest crypto donor of the month targeting Republican candidates. Crypto Reaching Into Politics As reported by Bloomberg on Tuesday, some...Read More
Earlier today, web infrastructure platform Cloudflare suffered another major outage causing half of the Internet to collapse, crippling major communication platforms and crypto exchanges, including Discord and FTX. Major Crypto Exchanges Went Offline During the Cloudflare outage, which lasted for 25 minutes, crypto users who tried to access the websites of service providers like FTX,...Read More
BlockFi’s CEO – Zac Prince – took it to Twitter to announce the term sheet deal with FTX to obtain a revolving credit worth $250 million. The company aims to utilize the funds to strengthen its balance sheet and operations. The latest crypto market slumps brought pain to numerous crypto lenders, and BlockFi was among...Read More
FTX – the second-largest crypto exchange by trading volume – announced its expansion into America’s up-north neighbor by acquiring the Canadian trading platform Bitvo. The newly acquired company will continue serving the Canadian market as it is integrated into the FTX global team. According to the official release, the acquisition will be expectedly completed in...Read More
Goldman Sachs is reportedly in talks with the US arm of crypto exchange FTX for potential integration of the latter’s derivative operations. According to Barron’s report, the multinational investment giant aims to integrate derivatives trading services with FTX US, which has been now pushing into stocks, to enable retail investors to trade a more diverse...Read More
The US arm of the cryptocurrency exchange, FTX, has experienced exponential growth since its launch at the end of 2020. In less than 18 months, its user base has increased from 10,000 to 1.2 million. FTX US president outlined the company’s long-term plan at World Economic Forum, including seeking approvals from the Commodity Futures Trading...Read More
