FTX gets three more months to stop all operations in Japan
Japanese authorities have postponed FTX Japan’s suspension deadline because the firm has so far failed to return assets from custody to creditors. Local regulators have given the Japanese affiliate of the now-defunct cryptocurrency exchange FTX permission to work through withdrawal-related problems into the following year. According to Reuters, a statement addressing FTX Japan operations has […]
SBF To Testify Before House Committee On December 13
Sam Bankman-Fried said he is willing to face U.S House Committee on Financial Services but he will have very little information to talk about. The former CEO of FTX has stated his willingness to appear before American authorities. On December 13, the House Committee on Financial Services. However, he acknowledged that a lack of knowledge […]
FalconX says finances strong despite FTX exposure
FalconX says balances locked on the collapsed exchange FTX represented 18% of unencumbered cash equivalents. The cryptocurrency trading firm FalconX has admitted that the demise of FTX cost it money. However, the company added that this ratio fell well within their counterparty exposure limits. The company stated that its assets locked on FTX represent only […]
Amber Group abandons expansion plans after denying insolvency
Amber has scrapped plans to expand in Europe and the United States as a consequence of exposure to the now-defunct exchange FTX Despite the FTX contagion having “minimal interruption” to its everyday operations, cryptocurrency trading company Amber Group is delaying its expansion ambitions, according to a top official. As a result of exposure to the […]
Goldman Sachs reportedly considers buying crypto firms
Following the FTX collapse, an executive of banking giant Goldman Sachs said that their firm is already doing its due diligence on some crypto firms and is looking to purchase or invest in them while the prices are low. The recent FTX fiasco has a negative impact on the value of crypto companies, thus financial […]