FTX

Apartbutnot

The successor? Was there ever a time FTX was ahead of Binance? For one, Binance invested in FTX.

MooseLoot

Only 3 things favor gold. 1) you can’t lose a string of words and no longer be able to access your gold 2) gold cannot be hacked, there can be no FTX-like scandals on gold 3) in the event of internet-based catastrophe, gold is still a thing. Because it’s physical, you can hold it in your hands, which gives some psychological advantages to older folks, who have all the money.

coinfeeds-bot

tldr; Around 2,500 ether (ETH), worth just over $4 million, tied to last year's exploit of the FTX exchange, started moving for the first time in nearly a year. The funds were split into two and then moved through different transactions using privacy tools. There is still a significant amount of ETH remaining in the original wallet. The attacker(s) who stole the funds were never identified. These transactions come just before FTX founder Sam Bankman-Fried goes on trial for fraud charges. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

loksfox

It's quite a timing that this happened when FTX was collapsing, i'm sure it's not someone from the inside, most like SBF himself.

timbulance

FTX was hacked in November 2022, hours after the global crypto empire declared bankruptcy. How convenient

o_teu_sqn

There's a video of him talking in a business call with angel investors for FTX while playing League of Legends 💀

pizza-chit

Quite a few politicians are still financing their campaign with money that was stolen directly from FTX customers..

lj26ft

Those fucking lawyers were Sullivan and Cromwell the same law firm that represents Consensys and Joe Lubin as well as where former SEC Chairman Jay Clayton is managing partner. The FTX general counsel is Ryen Miller who a year before the collapse is on video describing how an exchange failing will be impetus for regulation to come down hard and allow big money into the space. Ryen Miller worked directly for Gensler at the CFTC and Clayton at S&C. Tldr it was the fucking lawyers

pizza-chit

Both of his parents were lawyers for FTX. I can agree that they made at least one big mistake

South-Security-Mouse

*FTX left the chat.*

SmallReflection2552

This is not news! This is like saying, "Plaintiffs will testify in court" Yeah whatever. Welcome to the trivial details of the FTX trial. Can we get a report on SBFs bathroom break schedule next?

Mashellsadiqi

After FTX people should know

pizza-chit

Whenever you want to be lazy and leave your crypto on a CEX, remember FTX

mindbox0

You know who else frozen my accounts and took the funds? MTGOX, FTX, and Celsius!

ShinAlastor

FTX was an excellent example: not your keys, not your coins.

DingDongWhoDis

With the collapse of FTX and others, you'd think holding on a CEX would be more and more uncommon. I believe a lot of people moved off the exchanges recently, in fact, but the trend should continue at least until we see some kind of change with T&Cs and insurance which is unlikely.

assholeTea

After FTX collapsed, the audits they were doing seemed super sketchy. It was pretty much the big CEXs sending massive sums of money and coins to each other for the “audits” and they all passed. Then they used the audits to prove they were all holding what they said they were holding.

uncapchad

No way will we forget, affected or not. FTX was prime example of how not to do things. Of what happens when children are left to their own devices. If you haven't seen BBC doccie on this, take a look. Disappointingly named *Downfall of the Crypto King* it gives an insight into the utter madness. Which should never be allowed to happen again.

Gr8WallofChinatown

It’s easy to milk karma with SBF, Gensler, SEC, FTX, and CZ It’s annoying

snek_oil_

Must be the reason why he withdraw $17 million from FTX earlier.

Mashellsadiqi

FTX debacle was almost an year ago i think but still there is something new to it every other day

SigiNwanne

People that lost money on FTX will never forget SBF. He left a disastrous lasting legacy on many.

Every_Hunt_160

If they allow any FTX Customer to testify I’m afraid the entire hearing will take one entire year to clear 😅

JGCheema

and the FTX customer testifying will be the only customer in existence who would help him in walking free

tambaybtc

SBF + FTX became the nightmare and shit show magnet.

Mashellsadiqi

Thats a long list. Maybe this is the reason why FTX was allowed to operate with no SEC behind them despite clear flaws

coinfeeds-bot

tldr; Federal prosecutors in the trial against Sam Bankman-Fried, the former crypto executive of FTX, plan to call former FTX customers, investors, and employees as witnesses. The customers and investors can testify about their expectations of how FTX would handle their funds, while the cooperating witnesses can provide insight into their interactions with Bankman-Fried and their understanding of his statements and actions. The Department of Justice intends to call both retail customers and institutional clients who transferred significant amounts of assets to FTX. The DOJ has identified three cooperating witnesses who will testify, and at least two more witnesses will testify under a grant of immunity. One customer witness from Ukraine may testify via video conference due to logistical and legal challenges. The trial is set to begin next week. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; The upcoming trial of Sam Bankman-Fried, the former CEO and co-founder of FTX, is expected to bring closure to the nearly year-long FTX debacle. The trial will involve jury selection, opening statements, and potential testimony from Bankman-Fried's close friends, including his ex-girlfriend and former colleague Caroline Ellison. Experts are divided on whether Bankman-Fried will take the stand, and the evidence against him is said to be overwhelming. The trial has garnered significant attention due to the involvement of a high-profile figure in the crypto industry and the large sums of money at stake. The role of Bankman-Fried's parents and other individuals in his inner circle is also of interest. FTX customers and former employees hope for justice and the recovery of their funds, but the trial is unlikely to have a significant impact on the outcome of FTX's bankruptcy proceedings. Overall, the trial is seen as a turning point and an opportunity for the crypto industry to move on from the damage caused by the FTX collapse. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Sorrytoruin

>“I would like to start by formally stating, under oath: I f\*\*\*\*\* up,” wrote Sam Bankman-Fried, days after the implosion of FTX, the $36bn cryptocurrency exchange he founded. What a joke he thinks he can get away with this by saying its some sort of innocent mistake.

golden_bear_2016

I mean I would imagine the American people losing billions in scams like FTX would have changed some minds in Congress about crypto.

Ben_Pars

Same members are the ones trying to cover up FTX crimes.

coinfeeds-bot

tldr; The U.S. Department of Justice (DOJ) has revealed an extensive witness list for the case against Sam Bankman-Fried (SBF), including former FTX customers. This move follows the SEC's charges against FTX's auditor, Prager Metis, for violating auditor independence rules. SBF's lawyer has raised concerns about potentially biased jury questions, urging the inclusion of more impartial language in the ongoing case. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Maleficent_Sound_919

>There are a total of 535 Members of Congress. 100 serve in the U.S. Senate and 435 serve in the U.S. House of Representatives. > >196 members of Congress received money from Sam Bankman-Fried/FTX 196 / 535 \*100 = 36.64% of congress members took money from SBF This man was giving out FTX's money like it's candy on Halloween

pizzapicnic

There are 535 members of congress. And there were 196 members who received funds from FTX. 😳

pizzapicnic

So, I googled it real quick, and there are 535 members of congress. And there were 196 members who received funds from FTX. 😳

Affectionate_Hand_76

Around 17M has been moved from the FTX hack. Looks like SBF is ready to pay politicians again.

jwz9904

it's their usual modus operandi, not just from SBF or FTX

pizzapicnic

The legal team at FTX has asked for a "voluntary return" of the money. In this letter, the lawyers said if the money is not returned, they retain the right to sue for it.

pizzapicnic

196 members of congress received stolen money as "donations" from SBF or FTX proper, and almost all of them have yet to return these funds. This is money stolen from the people they are supposed to represent. Blows my mind how disgraceful it is.

pizzapicnic

196 members of congress received stolen money as "donations" from SBF or FTX proper, and almost all of them have yet to return these funds. This is money stolen from the people they are supposed to represent. Blows my mind how disgraceful it is.

endoftheworld2024

Gold has real-world utility. It's used in jewelry and electronics. In places like India people buy it like crazy as a store of wealth. It's also very easy to access and understand; dig it up, refine it, here's your gold bar/nugget/necklace/etc. Bitcoin may on the other hand is complex. Average people hear "exchange" and think FTX. They hear cold wallet and think of having to put some device in their freezer. They've never seen anywhere btc can be used in their daily lives. If they go on youtube to try and understand btc they get hit with 1,000 videos of obnoxious white guys talking about how it will be worth $1M next week. In short, gold is easy to access and trust. Bitcoin is hard to access and even harder to understand (and you can't trust what you don't understand). btc may be better than gold, but if people can understand that it's better then is it?

shrmy

FTX doesn’t exist anymore…and nobody will be replacing Binance.

shadowdax

> because all releases from FTX coming Wow that sounds interesting. Can you tell me more about these "releases".

Roberto9410

Maybe we shouldn’t replace FTX…

roadbowler

Some lovely quotes from the HFSC chair to old Gary from earlier in the week: “You refuse to be transparent with Congress regarding your interactions with FTX and Sam Bankman-Fried,” "Your lack of responsiveness to this committee’s legitimate oversight continues to be unacceptable.” "You should not want to be the first SEC chair to receive a Congressional subpoena.” There is an implication here is that the SEC knew FTX was shady and didn't act, that's how I read it anyway. If that turns out to be true Gary could have more to worry about than losing his job.

loksfox

"Stanford University to return FTX donations worth $5.5M" \*Meanwhile politicians: No, I don't think I will...

Collectibl3

Yup! Very early on into the FTX mess he said he would be surprised if SBF was a scammer because his parents are Ethics professors. Guess what? We learnt they're as corrupt as he was! Also Kevin owns his own ec

Silver-dutch

“This hasn’t been announced yet but in Abu Dhabi, they are planning to launch a new exchange to replace both FTX and Binance, and they’re going to get billions [of dollars] on it called M2. “ Buy the rumor sell the news, exchange edition

Mariahausfrau

SOLs pumps wont last. It got too much overweight because all releases from FTX coming and lack of trust for most. Its artificially kept up.

Collectibl3

Honestly probably manipulation. Such a large amount is held by FTX meaning they aren't doing anything to make money themselves right now. So with such a large amount no longer participating in the market other people can come in and try to manipulate it

Disastrous_Chain7148

Solana is so undervalued because of FTX. Bear market is the best time to invest in those coins.

coinfeeds-bot

tldr; A new regulatory-compliant crypto exchange called M2 is being set up in Abu Dhabi to replace major exchanges like Binance and FTX, according to venture capitalist Kevin O'Leary. O'Leary highlights the hostile regulatory climate in the US as a reason why innovative crypto firms are looking to build in other countries. He believes that Abu Dhabi's emergence as a competitor in the crypto space should serve as a wake-up call to American lawmakers and regulators. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Collectibl3

SOL doesn't really have any positive upwards momentum right now. Especially because FTX is such a massive bag holder.

markywarky123

About time too, it's been constant negativity and FUD since FTX crash.

roadbowler

I don't own any either, I was expecting it to go down further with the FTX fud but its made a very nice recovery and I missed the boat!

vhanke

Bruh, you shilled FTX, I don't listen to anything you say

Sorrytoruin

"This hasn’t been announced yet but in Abu Dhabi, they are planning to launch a new exchange to replace both FTX and Binance, and they’re going to get billions [of dollars] on it called M2. " He's saying Dubai are releasing their own exchange to take over the middle east market If the UAE government want they can kick binance out like the US have done It's absolutely possible.

partymsl

He even got money for promoting FTX and later went out to say it was not his fault at all to promote a literal scam. Such a clown.

coinfeeds-bot

tldr; A new regulatory-compliant crypto exchange called M2 is being set up in Abu Dhabi to replace major exchanges like Binance and FTX, according to venture capitalist Kevin O'Leary. O'Leary highlights the hostile regulatory climate in the US as a reason why innovative crypto firms are looking to build in other countries. He believes that Abu Dhabi's emergence as a competitor in the crypto space should serve as a wake-up call to American lawmakers and regulators. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

shamsuddin6272

But is the FTX hacker now one of the largest holders of Ethereum in the world.

Unitedstatesofnever

He was a massive share holder and advocate for FTX so anything he says should be ignored.

Super_Iron6408

Not really interested in what Kevin O'Leary's has to say. What's that about FTX again

bangand0

Who is this 🤡 going to fool after the FTX debacle?!?

deinterest

I think people are buying back in now that the FTX selling pressure FUD seems overblown.

timbulance

I assume it’s connected to a former FTX employee

deinterest

Yes, people realize the FTX dump was FUD and buy back in.

Ben_Pars

Seems FTX is still doing crimes even though their CEO is arrested.

Harold838383

FTX hacker aka SBF

coinfeeds-bot

tldr; Around 2,500 ether (ETH), worth just over $4 million, tied to last year's exploit of the FTX exchange, started moving for the first time in nearly a year. The funds were split into two and then moved through different transactions using privacy tools. There is still a significant amount of ETH remaining in the original wallet. The attacker(s) who stole the funds were never identified. These transactions come just before FTX founder Sam Bankman-Fried goes on trial for fraud charges. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; The FTX exploiter, identified as address 0x3e9, has moved over $17.1 million worth of ETH in the past 24 hours. The address has transferred 7,749 ETH to the Thorchain router and Railgun contract, and swapped 2,500 ETH for 153.4 tBTC. These transactions have put downward pressure on the ETH price. FTX co-founder Sam Bankman-Fried is scheduled to go to trial in October, facing seven charges related to fraudulent activities. Despite pleading not guilty, Bankman-Fried remains in custody. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; The FTX hacker, who stole hundreds of millions of dollars during FTX's collapse, has moved $8 million in stolen funds for the first time in 10 months. The hacker transferred 2,500 ETH, worth $4 million, using RailGun privacy wallet and Thorchain. The identity of the hacker and the technique used in the hack remain unknown. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Jonashaahr

20k during FTX crash

Harold838383

Imo FTX exploiter is probably an FTX insider

igadjeed

Not your keys, no valid proof possible This has already been demonstrated. When FTX collapsed, CEXs rushed to have their stashes proved. None of the proofs were valid. That's just the technical issue. If they solve that part of the problem, nothing prevents them faking the proofs

Simplyqtoneuw

I still have a hard time beliving this exploit wasn't an inside job given how shady FTX was

Affectionate_Hand_76

SEC has initiated legal proceedings against FTX auditor. This is a win for everyone.

DerpJungler

It's been almost a year since FTX blew up and it feels like 3 months ago.

robotwizard_9009

Just like FTX ...

vhanke

It's just winter, I doubt this year would have gone differently without the FTX blowup

NoNumbersNumber

Anyone from FTX still having access to money is ridiculous...

SetoXlll

Celsius, FTX, the twins and stupid ass Kwon fucked it all up for the little guys and some big ones as well.

Silent_Collection892

Yes FTX gave us a hit, but the real reason is global economic recession and war in Ukraine.

coinfeeds-bot

tldr; The article discusses the challenges faced by the cryptocurrency industry in the year following the FTX exchange blowup. The fallout from the FTX collapse has led to skepticism and suspicion surrounding the asset class, with the trial of FTX's leader, Sam Bankman-Fried, adding to the cloud of uncertainty. The article highlights the decline in trading activity, the decrease in venture capital deals, and the shrinking job market in the crypto industry. Additionally, it mentions the struggles faced by crypto-related ventures, such as difficulty finding advertising platforms and investor skepticism. The article also mentions the various lawsuits and legal proceedings that have emerged in the wake of the FTX collapse. Despite the challenges, the article suggests that the industry may be reaching a turning point, with increased institutionalization and regulation. The future of crypto innovation is seen as more institutionalized, with traditional financial firms showing interest in blockchain projects and Bitcoin ETFs. While some individuals have become disillusioned with the industry, others remain open to returning if promising opportunities arise. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; The Department of Justice (DOJ) plans to call former FTX clients, investors, and staff as witnesses in the trial of Sam Bankman-Fried. The testimonies will shed light on FTX's treatment of customer assets and Bankman-Fried's conduct. The DOJ aims to emphasize the experiences of retail and institutional clients who trusted FTX to safeguard their assets. One witness from Ukraine may testify via video conferencing due to travel difficulties. Bankman-Fried's defense has raised concerns about the jury questions proposed by the DOJ, arguing that they may insinuate guilt and compromise the trial's impartiality. The trial is set to begin soon, highlighting the importance of transparent communication and unbiased questioning in upholding justice. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

tambaybtc

FTX is cursed and a shit show magnet 🤦🏻‍♂️