The new CEO of the collapsed cryptocurrency trading firm FTX said he has never seen such a \u0022complete failure\u0022 of corporate control.
John Ray III, in a filing with the U.S. bankruptcy court for the district of Delaware, said there was a “complete absence of trustworthy financial information.”Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
So far, debtors have found and secured “only a fraction” of the group’s digital assets that they hope to recover, with about $740 million of cryptocurrency secured in new cold wallets, which is a way of holding cryptocurrency tokens offline, said Ray.Article content
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New CEO of FTX blasts its handling of financial informationThe new CEO of the collapsed cryptocurrency trading firm FTX said he has never seen such a \u0022complete failure\u0022 of corporate control.
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FTX users could get 40% of their deposits back, only if…FTX users could get half of their deposits back They will need to be patient because bankruptcy proceedings can take too long to complete Sam Bankman-Fried (SBF) officially filed for Chapter 11 bankruptcy for FTX, FTX US, and Alameda Research on Friday, 11 November 2022. According to reports, FTX creditors could reach one million. Adding […]
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Coinbase says full fallout of FTX collapse is yet to comeFTX filed for bankruptcy protection in the highest\u002Dprofile crypto blowup to date. Read on
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Coinbase says full fallout of FTX collapse is yet to comeFTX filed for bankruptcy protection in the highest\u002Dprofile crypto blowup to date. Read on
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Singapore-backed Temasek marks down $275M FTX investment to 0Singapore-based Temasek Holdings Limited has announced that it will write off its $275 million investment into FTX and its associated companies. This, owing to recent developments and emerging doubts over its financial position. Temasek is a state-backed investment agency that invested $210 million in FTX International for a 1% stake and $65 million in FTX […]
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U.S. House panel to hold hearing on crypto exchange FTX collapseU.S. lawmakers plan to investigate the failure of FTX, the large crypto exchange that collapsed last week and filed for bankruptcy protection, leaving investors and customers staring at losses that could total in the billions of dollars.
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