Tether Chief Technology Officer Confirms No Plans To Save FTX
Tether has indicated that it has no plans to invest cash into FTX, despite the CEO allegedly approaching many companies for assistance. As it struggles to close a reported multi-billion dollar hole in its balance sheet, cryptocurrency exchange FTX has lost at least one potential rescuer.On November 10, Paolo Ardoino, the chief technology officer of […]
Genesis Trading Claims $175M Of Funds Are Locked In FTX
The most recent company to declare exposure to FTX is Genesis Trading and it may seek assistance from its parent company. Genesis Trading, the market maker and lending arm of Digital Currency Group, disclosed that its derivatives business has about $175 million in funds stashed away in an FTX trading account in what it describes […]
Market volatility and redemptions destabilize major stablecoins
Almost all significant stablecoins lost their dollar pegs after the FTX scandal, but most have gained them again as markets have stabilized. Stablecoins have been affected by this week’s significant market volatility, which was brought on by the failure of the FTX exchange, with many of them momentarily de-pegging. The fall in cryptocurrency prices this […]
Tether CTO affirms there are no intentions to save FTX
Tether has indicated that it has no plans to invest cash into FTX, despite the CEO allegedly approaching many companies for assistance. On November 10, Tether CTO, Paolo Ardoino, affirmed the company has “no plans to invest or lend money to FTX/Alameda.” As it struggles to close a purported multi-billion dollar hole in its financial […]
Tether Blocks $46.1 million Of FTX’s USDT On Tron Blockchain
In response to requests from law authorities, Tether has only so far frozen USDT funds kept in personal wallets. Tether appears to have frozen 46,360,701 USDT USDT ($46,274,472) owned by failing cryptocurrency exchange FTX in its Tron blockchain wallet, according to blockchain transaction data published by WhaleAlert on Nov. 10. One day after the US […]