FTX Plans to Restart Crypto Exchange for International Customers

Proposed re-organization plan provides a pathway for a specific class of debtors to pool assets to create a new, offshore exchange.

• 2023-08-01
• FTX FTT Offshore Exchange Company claimants

Ex-FTX COO Constance Wang Joins Crypto Fund Sino Global

Matthew Graham, Sino Global’s founder and CEO, was a close associate of Sam Bankman-Fried during FTX’s rise.

• 2023-07-19
• FTX Constance Wang National University of Singapore fundraising drive Sino Global Matthew Graham

Crypto Bankruptcy Investor Ouroboros Eyes Smaller Claims

The platform automates the due diligence process for buying cryptocurrency bankruptcy claims in firms like FTX or Celsius, providing previously missing liquidity for creditors owed around $50,000.

• 2023-06-27
• FTX Ouroboros bankruptcy estate creditors

FTX Finalizes $50 Million Sale of LedgerX Crypto Derivatives Exchange

The sale to M7 Holdings comes amid continuing efforts to untangle FTX's Chapter 11 bankruptcy.

• 2023-04-26
• FTX Miami International Holdings Inc. M7 Holdings

Bankrupt crypto firm FTX to sell LedgerX for $50 million

FTX will seek U.S. bankruptcy court approval for the sale at a May 4 hearing. "We are pleased to reach this agreement with MIH, which is an example of our continuing efforts to monetize assets to deliver recoveries to stakeholders," FTX CEO John Ray said in a statement. Since filing for bankruptcy in November, FTX has recovered over $7.3 billion in cash and liquid crypto assets, the company reported earlier this month.

• 2023-04-26
• FTX crypto derivatives Bermuda Stock Exchange Miami International Securities Exchange Miami International Holdings crypto exchange LedgerX LLC

FTX sues liquidators of its Bahamian affiliate over crypto exchange ownership

Bankrupt crypto exchange FTX on Sunday sued the liquidators overseeing the wind-down of its Bahamian affiliate FTX Digital Markets, accusing them of wrongly claiming ownership of the exchange's assets. FTX's U.S. based bankruptcy team, led by new CEO John Ray, said in its lawsuit that the liquidators were laying claim to FTX.com’s cryptocurrency, intellectual property, and customer relationships. FTX called FTX DM a "fraudulent enterprise", initially set up only to be a "local service company"

• 2023-03-20
• FTX liquidators

Crypto-focused bank Silvergate plans to wind down following blow from FTX

(Reuters) -Crypto-focused bank Silvergate Capital Corp said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto exchange FTX, sending its shares down 35% in after-hours trade. The decision to shutter the bank comes after the company warned last week that it was evaluating its ability to operate as a going concern, disclosing that it had sold additional debt securities this year at a loss and that furthe

• 2023-03-09
• FTX Silvergate Capital Silvergate

Sam Bankman-Fried Did ‘Immeasurable’ Damage to Crypto Industry: Ava Labs CEO

Emin Gün Sirer said Sam Bankman-Fried’s alleged fraud tarnished the crypto industry’s goodwill.

• 2023-02-27
• FTX digital assets Ava Labs Cornell University Emin Gün Sirer Bankman-Fried

Retail Crypto Investors in Emerging Economies Hit Hardest by FTX, Terra Collapses: BIS

Over $450 billion vanished from the crypto market following the collapse of Terra's coins in May 2022 and another $200 billion was lost following FTX's bankruptcy in November 2022, the report said.

• 2023-02-21
• FTX Bank for International Settlements market economies Losing money

Galois Capital shuts down flagship crypto fund with $100 million stuck on FTX

Crypto hedge fund Galois Capital had called it quits after half of its assets were stuck on the FTX exchange.

• 2023-02-20
• FTX Galois