‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others […]
Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships
On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and community banks across the United […]
Examining the Holdings of 5 Centralized Crypto Exchanges: A Look at Binance, Okx, Crypto.com, Bitfinex, and Huobi
After FTX collapsed, the incident prompted many major crypto exchanges to publish proof-of-reserves and lists of known addresses so users can verify the solvency of the trading platforms. While the veracity of these proof-of-reserve lists and asset dashboards is debatable, they do provide some insight into the large sums of cryptocurrency held in custody by […]
New FTX CEO Discusses Possibility of Rebooting Defunct Crypto Exchange in First Interview Since Taking Over
Following recent disclosure that FTX debtors and bankruptcy administrators located $5.5 billion in liquid assets, the new FTX CEO John J. Ray III discussed the business in his first interview since taking over the exchange’s restructuring process. Ray detailed during the interview that he is open to the possibility of reviving the now-defunct digital currency […]
Report: Alameda’s Caroline Ellison Retains SEC’s Former Enforcement Division Chief
After more attention has been cast on the former Alameda Research CEO Caroline Ellison, a report details that Ellison has hired Wilmerhale partner Stephanie Avakian, an attorney that worked for the U.S. Securities and Exchange Commission (SEC). The news follows leaked documentation of Ellison’s alleged margin position, and the ex-Alameda executive reportedly being spotted at […]
Alameda Research CEO Caroline Ellison Reportedly Spotted at a Coffee Shop in Manhattan With FTX Dog ‘Gopher’
On Dec. 4, 2022, the Twitter account and citizen journalist called Autism Capital shared two pictures of a woman that closely resembles the Alameda Research CEO, Caroline Ellison. The pictures were taken at a coffee and sandwich shop in Manhattan at 8:15 a.m. (ET). Citizen Journalist Reportedly Spots Alameda’s Caroline Ellison in New York According […]
While the FTX Co-Founder Claims He ‘Wasn’t Running Alameda,’ SBF Is Asked Why He Threw Caroline Ellison ‘Under the Bus’
While the former FTX CEO Sam Bankman-Fried (SBF) has done numerous interviews, during these discussions he’s explained on numerous occasions that as far as Alameda Research is concerned, he “wasn’t running Alameda.” SBF wasn’t the CEO of the trading firm Alameda Research as the job was handled by Caroline Ellison, a former Jane Street trader […]
Circle’s USDC issuance falls 3 billion from Binance stablecoin conversions
Circle attributed its miscalculated financial projections to Binance implementing USDC to BUSD auto-conversions and the recent collapse of FTX.This post was originally published on this site
FTX Contract Deployer Unlocks 192 Million FTT, Exchange Token’s Questionable Tokenomics Highlights Red Flags
Following the collapse of FTX and the exchange filing bankruptcy on Nov. 11, the trading platform’s exchange token called ftx (FTT) has shed 91.6% in value during the last seven days. While the FTT token’s utility is based entirely on the backing of the now-bankrupt FTX and Alameda Research, the token is still trading for […]
Binance to liquidate its entire FTX Token holdings after ‘recent revelations’
Binance CEO Changpeng Zhao cited “recent revelations” as the reason for the liquidation, noting the sale of its tokens could take months to complete due to the size of its position.This post was originally published on this site