FTX files chapter 11

Discussion in 'Crypto Assets' started by Q.E.D., Nov 11, 2022.

  1. RedDuke

    RedDuke

    my next buy order for ETH is once it breaks $500 and will begin paying attention at BTC if 10k give out. SOL will buy around 1-3 and ADA around a 1-5 cents. Give or take.
     
    #11     Nov 11, 2022
  2. Q.E.D.

    Q.E.D.

    #12     Nov 11, 2022
    NoahA likes this.
  3. That is just sad.
     
    #13     Nov 11, 2022
  4. BKR88

    BKR88

     
    #14     Nov 11, 2022
    johnarb and NoahA like this.
  5. tomkat22

    tomkat22

    I dont trust any white guy with an Afro. Well except maybe Bob Ross,he was great.
     
    #15     Nov 11, 2022
    lucysparabola, Sprout and TheDawn like this.
  6. TheDawn

    TheDawn

    That's not Afro. That's just really curly hair, not frizzy enough to be Afro imo. LOL
     
    #16     Nov 11, 2022
  7. tomkat22

    tomkat22

    I dunno,looks pretty nappy to me.
     
    #17     Nov 11, 2022
  8. During my break at work today I checked my portfolio just out of curiosity. Saw crypto turn around and start to tank a little again. Decided to check the news to see what's up.. sure enough- Chapter 11 bankruptcy right on the top page.


    Oh, he's the character all cheaters use in Civilization IV, simply because he has financial traits, and an over-powered unit. The bowman skirmisher thing that has an extra pip of power/health. :)
     
    #18     Nov 11, 2022
  9. NoahA

    NoahA

    Excellent video. I loved when he said all banks essentially operate the same way.
     
    #19     Nov 11, 2022
    BKR88 and johnarb like this.
  10. themickey

    themickey

    4h ago
    FTX US’s Counsel Says Investigating “Abnormalities” as Funds Leave Crypto Exchange
    Suvashree Ghosh, Bloomberg News


    [​IMG]
    ATLANTA, GEORGIA - NOVEMBER 10: In this photo illustration, the FTX website is seen on a computer on November 10, 2022 in Atlanta, Georgia. Binance, the world’s largest cryptocurrency firm, agreed to acquire FTX, another large cryptocurrency exchange, in a rushed sale in order to prevent a liquidity crisis, which is known as the "Lehman Moment" in the crypto industry. (Photo Illustration by Michael M. Santiago/Getty Images) , Photographer: Michael M. Santiago/Getty Images North America

    (Bloomberg) -- Sam Bankman-Fried’s bankrupt digital-asset exchange FTX was hit by a mysterious outflow of about $662 million in tokens in the past 24 hours, the latest twist in one of the darkest periods for the crypto industry.

    Customers still coming to terms with the platform’s Friday plunge into Chapter 11 proceedings were subsequently confronted with what the general counsel of its US arm, Ryne Miller, described as “abnormalities with wallet movements.”

    Miller said on Twitter that FTX is expediting the process of moving digital assets into cold storage -- which is unconnected to the internet -- “to mitigate damage upon observing unauthorized transactions.”

    Blockchain analytics firm Nansen estimated the coins flowed out of both FTX’s international and US exchanges. Paolo Ardoino, chief technology officer at stablecoin issuer Tether, referenced a tweet suggesting more than $30 million of the “FTX attacker’s” holdings in the token have been blacklisted.

    “It’s unclear exactly who’s making the transactions, but you wouldn’t expect to see these on-chain trades at this time,” said Alex Svanevik, chief executive officer at Nansen.

    The latest developments are another blow for the crypto sector, which is reeling from a year-long rout as well as the implosion of Bankman-Fried’s exchange and sister trading house Alameda Research. If the outflows are a security exploit, they would add to what’s shaping up to be a record year for attacks on the digital-token industry.

    The main wallet belonging to FTX was drained of its entire balance in FTT during the incident, according to Nansen. The FTT coins are native to the exchange. Nansen said the overall outflows from FTX eventually ceased.

    FTX’s descent into bankruptcy capped the downfall of one of crypto’s wealthiest moguls. The US Securities and Exchange Commission is investigating how closely intertwined his businesses were and whether FTX mishandled customer funds.

    Twitter was rife with protests apparently from aggrieved clients. They cited a community Telegram chat warning that FTX had been compromised and that some client accounts were drained. The claims couldn’t be immediately verified and several calls to FTX officials outside regular US business hours went unanswered.

    --With assistance from Sidhartha Shukla and Emily Nicolle.
    ©2022 Bloomberg L.P.
     
    #20     Nov 12, 2022