According to Lookonchain monitoring, in the past week, FTX cold wallet address has released 3.96 million SOL tokens (equivalent to 230 million US dollars) from pledge, and a total of 3.7 million SOL tokens (equivalent to 215 million US dollars) have been transferred out; currently, there are still 253,407 SOL tokens left (equivalent to 14.75 million US dollars).

A team of former FTX executives is launching a new cryptocurrency company called Backpack Exchange. The team is led by former FTX general manager Can Sun. Backpack Exchange will use Backpack's technology to allow customers to "self-custody" their funds for added security and to avoid further complexity of customer assets.

Can Sun, the former chief legal advisor of FTX, is joining forces with some former FTX executives to establish a new cryptocurrency exchange aimed at solving the problems that led to the bankruptcy of their former employer. Can Sun testified in the criminal trial of Sam Bankman-Fried and was a key witness in the SBF trial. (Wall Street Journal)

Some former FTX executives, including Can Sun, former general counsel of FTX, are joining forces to establish a new cryptocurrency exchange aimed at solving the problems that led to the bankruptcy of their former employer. Can Sun testified in the criminal trial of Sam Bankman-Fried and was a key witness in the SBF trial.

Moody's Head of DeFi Rajeev Bamra considers the role stablecoins play cryptocurrency markets, and the risks posed by "depegging" events.

According to TechFlow news from DeepChain, the FTX 2.0 Coalition, a group of FTX creditors, tweeted that "In fact, FTX is a great brand. Without this brand, a related legacy token would not have reached a market capitalization of $2 billion and a significant trading volume today. We suggest rehiring the marketing department."

Bankruptcy trustee of FTX has filed a lawsuit against cryptocurrency trading platform Bybit Fintech Ltd and its two subsidiaries in a Delaware court, seeking to recover approximately $953 million worth of cash and cryptocurrency assets that were withdrawn from the platform before the FTX collapse. The lawsuit alleges that Bybit's investment department, Mirana Corp., had special VIP privileges that most FTX customers did not have and used these privileges to transfer most of its assets from the FTX platform during the FTX collapse. While FTX customers were waiting in line for withdrawals, Mirana pressured FTX employees to fulfill its withdrawal requests. The other subsidiary company named in the lawsuit is Time Research Ltd.

Hodlnaut, a crypto lending firm based in Singapore, is set to be liquidated by its judicial managers, according to a document from EY. The firm had attempted to avoid liquidation but was met with resistance from creditors. Hodlnaut held assets worth over $13 million in the now-bankrupt FTX exchange and lost $189.7 million in the failed DeFi platform Anchor Protocol. The company had previously informed its users of a pending investigation by the Singapore police.

The SEC chair said that if Tom Farley or other FTX acquiring party is willing to reopen the exchange, they must follow securities law.

According to Watcher.Guru, Gary Gensler, the chairman of the US SEC, said that FTX cryptocurrency exchange may restart under new leadership.

Former New York Stock Exchange President Tom Farley's company is one of three companies bidding for the remaining assets of FTX, and FTX's auction has entered its final stage. According to sources, Bullish, a cryptocurrency trading platform operated by Farley, financial technology startup Figure Technologies, and cryptocurrency venture capital firm Proof Group are competing to acquire FTX. The winning bidder will be able to restart the trading platform after it plans to exit bankruptcy proceedings next year. (Wall Street Journal)

Judge Lewis Kaplan in the FTX case issued an explanation for rejecting SBF's defense motion. The explanation stated that SBF's defense motion was rejected because Gary Wang and Nishad Singh's testimony on the witness stand was slightly different from their testimony provided to the FBI in 2022, and therefore some FBI officials will be required to testify in the future.

According to Spot On Chain monitoring by Odaily Star Planet Daily, FTX and Alameda transferred seven assets worth $38.5 million to the exchange about 6 hours ago, including 750,000 SOL coins (worth about $31.2 million), 325,501 ENS coins (worth about $2.76 million), 10.1 million GMT coins (worth about $2.22 million), 642,702 LDO coins (worth about $1.26 million), 288,211 APE coins (worth about $410,000), 127,407 BADGER coins (worth about $365,000), and 555,342 BNT coins (worth about $323,000). Overall, as of November 8th, FTX and Alameda have transferred 36 assets worth $350 million to the exchange.

FTX, a bankrupt crypto exchange, has requested permission from a judge to sell off its Grayscale and Bitwise assets, worth a total of $744 million, through an investment adviser. The move is aimed at protecting the company against potential downward price swings in the trust assets, maximizing the value of the debtors' estates, and allowing for forthcoming dollarized distributions to creditors. The trust assets include holdings of five different Grayscale Trusts valued at $691 million and holdings of a Bitwise-managed trust valued at $53 million. FTX filed for bankruptcy in November 2022 following accusations of mismanagement of funds by its CEO, Sam Bankman-Fried.

PeckShield monitoring shows that in the past 8 hours, FTX's cold wallet address has transferred 463,000 SOL coins (about $18.66 million) to a new address. Currently, the cold wallet address still holds 2.2534 million SOL coins (about $93.6 million).

Spot On Chain monitoring shows that FTX has deposited 1.21 million SOL (worth $48.6 million) and 1,583 ETH (worth $3 million) into Binance and Kraken in the past 20 hours. Since October 24th (13 days ago), FTX and Alameda have transferred a total of 31 tokens worth $310 million to exchanges.

Legal experts predict that Sam Bankman-Fried, the founder of FTX crypto exchange, may face a prison sentence of around 25 years for his involvement in wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering. Bankman-Fried faces a maximum of 115 years in prison, but former federal prosecutor Renato Mariotti believes that Judge Lewis Kaplan will not be lenient when imposing the sentence. Mariotti cited Bankman-Fried's immense fraud, defiant behavior during the trial, and lying on the witness stand as reasons for a lengthy sentence. Kaplan previously revoked Bankman-Fried's $250 million bail for contacting potential witnesses against him.

Proof Group, a Silicon Valley investment firm that was part of the consortium that successfully bid for bankrupt cryptocurrency lender Celsius, is among the shortlist of three potential bidders to relaunch FTX, one of the largest crypto exchanges that collapsed almost a year ago. Other options being considered include selling the entire exchange and its customer list or bringing in a partner. A decision is expected to be made by mid-December. However, restarting FTX is not a straightforward process and there are various aspects of claims, token lockups, and compliance issues that need to be addressed.

According to court documents, FTX and its debtors have requested approval from the Delaware bankruptcy court to sell a portion of their trust assets, namely Grayscale and Bitwise funds, with an estimated value of $744 million through an investment advisor. 

According to Pai Shield monitoring, the address marked as "FTX Cold Storage #2" has transferred about 750,000 SOL (approximately 31 million US dollars) to the address starting with 4Axqyo and to Binance.