UAE Regulator Revokes FTX License
Dubai regulators noted that no clients were exposed, as FTX MENA was still in the preparation phase before getting fully approved to operate. The Dubai Virtual Assets Regulatory Authority (VARA) has suspended the license that permits FTX to make preparations to service the local market even though the crypto exchange fiasco continues to make waves […]
FTX execs spend over $121M on properties in the Bahamas
According to a recent report, at least 19 properties worth around $121 million were purchased under FTX’s name, Sam Bankman-Fried’s parents, and senior-level executives of the now-defunct crypto exchange in the Bahamas. According to the most recent information from the FTX lawsuit, millions-dollar Bahamian properties were purchased under the company’s name. Over the last two […]
Genesis Block To Cease Trading In Hong Kong
Genesis Block, a cryptocurrency trading service in Hong Kong, will close its trading portal on Dec. 10, Reuters reported on Friday. Another crypto company is facing the market impacts of the current FTX incident. A leading provider of bitcoin retail services in Hong Kong, Genesis Block, has reportedly declared it will stop trading and shut […]
Sam Bankman-Fried $16 billion net worth drops to nothing
Sam Bankman-Fried $16 billion net worth has now been reported by Bloomberg’s Billionaire Index to be $0 following the collapse of FTX. The CEO of FTX. Sam Bankman-Fried, is suffering as a result of what is arguably the most devastating collapse in the history of the cryptocurrency industry. The former crypto tycoon’s entire fortune has […]
SBF falls off Bloomberg’s billionaire index
Following the recent trouble facing FTX crypto exchange, the founder Sam Bankman-Fried (SBF) no longer ranks in the top 500 on Bloomberg’s billionaire index. After a 94% estimated overnight decline in his personal wealth, crypto billionaire Sam Bankman-Fried (SBF) may no longer be allowed to call himself a “billionaire,” according to the Bloomberg Billionaires Index. […]