The current corporate leadership of FTX and its associated companies are cooperating with investigators for the U.S. government and regulators, a lawyer representing the troubled firm said in an inaugural bankruptcy hearing today.

The Monetary Authority of Singapore (MAS), the country’s central bank, <a href="https://www.mas.gov.sg/news/media-releases/2022/mas-statement-to-address-misconceptions-in-the-wake-of-collapse-of-ftx" target="_blank">released</a> a statement Nov. 21 to address “some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle.” The agency explained its&nbsp;

In a live stream of FTX Trading’s bankruptcy proceedings on Nov. 22, James Bromley, a partner at law firm Sullivan &amp; Cromwell representing debtors in FTX’s bankruptcy case in the District of Delaware, <a href="https://www.deb.uscourts.gov/FTXLiveStream" target="_blank">said</a>&nbsp;&nbsp;“Unfortunately [...] a substantial amount of assets have either been stolen or are missing. We are suffering from cyberattacks, both on the petition date and the days following, and we have, as I mentioned earlier, engaged sophisticated expertise to protect against the hacks, but they continue”.

Sequoia Capital partners apologized to investors for the $150 million it lost on investments in crypto exchange FTX, the Wall Street Journal reported.

Despite claims by the companies to the contrary, blockchain data shows crypto exchange FTX and sister company Alameda Research were very much connected from the beginning, said Niklas Polk, a research analyst at analytics firm Nansen. Polk said on-chain data shows the two companies had been closely intertwined since 2019. But making sense of the data could be the reason why no one saw the FTX collapse coming.&nbsp;

FTX started its bankruptcy proceedings today at the Delaware Court. The bankruptcy filing revealed that FTX owes its 50 biggest unsecured creditors around $3.1 billion.

Genesis Global Capital has hired investment bank Moelis &amp; Company to explore options including a potential bankruptcy, <a href="2:44%20https://www.nytimes.com/2022/11/22/business/dealbook/genesis-crypto-restructuring-adviser.html" target="_blank">The New York Times reported</a>, citing three people familiar with the situation. There haven't been any final decisions made and it is still possible for the company to avoid a bankruptcy filing, the report said.

Digital Currency Group (DCG) CEO Barry Silbert sent shareholders a memo on Nov. 22 addressing the situation surrounding Genesis’ liquidity. Silbert said the suspension of withdrawals at Genesis’ lending arm Genesis Global Capital was an “issue of liquidity and duration mismatch in the Genesis loan book”. The CEO noted that these issues have “no impact” on Genesis’ spot and derivatives trading or custody businesses. Genesis has hired financial and legal advisers to look at “all possible options amidst the fallout from the implosion of FTX”.

The fall of Sam Bankman-Fried’s crypto empire FTX has attracted the attention of United States authorities as they seek to uncover the truth behind the company’s sudden collapse.

The collapse of the once-beloved cryptocurrency exchange, FTX, is having an impact on some fintech companies in Africa.