The company tasked with locking down the assets in the failed cryptocurrency exchange FTX said they’ve managed to recover and secure $740 million in assets so far, a fraction of the potential billions that is likely missing from bankrupt company’s coffers.

Crypto custodian BitGo has been nominated as the official custodian to safeguard the remaining funds at FTX. Acting CEO John Ray III selected BitGo to take custody of the assets of the crypto exchange for the duration of the bankruptcy proceedings.

FTX founder Sam Bankman-Fried, who's mostly kept to making statements on Twitter amid the collapse of the crypto exchange he once ran, said he'd be speaking with New York Times columnist Andrew Ross Sorkin at the Nov. 30 DealBook Summit in New York.

Brendan Blumer, the founder of EOS developer Block.One, has <a href="https://www.sec.gov/Archives/edgar/data/1312109/000095010322020044/dp184614_sc13g-blumer.htm">bought 9.3% of crypto bank Silvergate (SI)</a>, while <a href="https://www.sec.gov/Archives/edgar/data/1312109/000095010322020044/dp184614_sc13g-blumer.htm">Block.One bought an additional 7.5%</a>, according to SEC documents filed on Wednesday. According to the filings, Blumer bought 2,934,537 shares of the crypto bank on Nov. 16 while Block.One bought 2,363,186 shares.

Sam Bankman-Fried (SBF), the founder and former CEO of the now-bankrupt cryptocurrency exchange FTX, has written a letter of apology to his employees, explaining the series of events that led to the collapse of his empire.

Litecoin (LTC) price has held strong above $60, showing good bullish signs of rallying to a high of $90-$100 if the market conditions remain favorable for prices. With many looking for a major dump in Bitcoin (BTC) price, the price of Bitcoin (BTC) bounced from $15,500 as price rallied to a high of $16,500, leaving bears on the sidelines as the price of Litecoin (LTC) gains more momentum to rally. The price action displayed by Litecoin (LTC) in recent times has been encouraging compared to many altcoins battling for survival. The Domino effect of the FTX saga and other huge investors involved has left the market at a standstill as the market is yet to make a major move after previous weeks. (Data from Binance)

According to a statement made on Wednesday by the Treasury and Finance Ministry of Turkey, an inquiry has been opened into claims of fraud against Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX. In the course of the inquiry, Turkish authorities have also seized the assets of Bankman-Fried and its affiliates.

The FTT exchange token played a key role in the downfall of the crypto exchange FTX and affiliated trading firm Alameda Research. It was the use of FTT to inflate both entities’ balance sheets, reported by CoinDesk’s Ian Allison on Nov. 2, that raised the first doubts that sparked the collapse.

A bankruptcy filing by the now-collapsed cryptocurrency exchange FTX revealed the platform’s global customer distribution at the peak of its operations.&nbsp;

DeFi insurance platform InsurAce is launching a new crypto deposit insurance program titled ‘Crypto Deposit Insurance Scheme’ (CDIS.) The product is hitting the market partly in response to the issues that have plagued CeFi throughout 2022. The collapse of Celsius, Voyager, BlockFi, and now FTX has led to consumer confidence in crypto being rocked.