Until recently, FTX Trading was the toast of the cryptocurrency world. Now, FTX now finds itself on the edge of bankruptcy, facing billions of dollars in losses and a federal probe.
In a subsequent call with investors, Bankman-Fried said FTX needed about $8 billion to back up the crypto assets users have on the platform, Bloomberg News
A bankruptcy of the world's third-largest crypto exchange would rock an industry that has long attracted unwanted attention from financial regulators and lawmakers, experts told CBS MoneyWatch. Compounding FTX's woes, the U.S. Securities and Exchange Commission is now investigating the company for possible violations, the Associated Press
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TRX Momentarily Surges 4,000% on FTX After Justin Sun Emerges as Latest 'Would Be' FTX Savior.justinsuntron, also known as “Brother Sun” among believers, has offered a way out for FTX_Official in a move that caused TRX prices to momentarily rocket on FTX. By shauryamalwa.
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FTX's U.S. business is in troubleFTX US is separate from FTX, but its fate is likely to be equal.
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FTX Website Experiences Temporary Outage, Warns Users Not to Make Deposits.FTX_Official’s website experienced a temporary outage on Wednesday, and it now has a banner warning users not to make deposits. cheyenneligon reports
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Crypto trading firm Cumberland says it had virtually no exposure to FTXCrypto trading company Cumberland said it had virtually no exposure to crypto exchange FTX, which has collapsed amid a liquidity crisis.
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FTX US Warns of Trading Halt Hours After Bankman-Fried Says It's '100% Liquid'FTX US warned users it might halt trading in the coming days, just hours after CEO Sam Bankman-Fried wrote in a Twitter thread that FTX US was “100% liquid.” nikhileshde reports
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