JPMorgan Thinks Bitcoin Could Plunge to $13K Following The FTX Crisis
JPMorgan’s team, led by Nikolaos Panigirtzoglou, predicted that the price of bitcoin could drop to $13,000 due to the turmoil following the FTX collapse.The cost to produce BTC has also fallen considerably, which could be another reason for the asset’s potential downfall.
SoftBank Is Said To Expect About $100 Million Loss on FTX Stake
SoftBank Group Corp. invested just under $100 million in the crypto exchange FTX.com and anticipates writing down the entire value of the stake, according to a person familiar with the matter.
FTX Faces SEC and CFTC Investigation
Crypto exchange FTX faces an investigation by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) into its mismanagement of customer funds and the firm’s relationships with FTX. US and Alameda Research.
The FTX Future Fund Team Has Resigned
We were shocked and immensely saddened to learn of the recent events at FTX.
Genesis Trading Reveals $175M of Funds Are Locked in FTX
Genesis Trading is the latest firm to declare exposure to FTX.
FTX’s Assets Frozen by Bahamas Securities Regulator
Authorities in the Bahamas, where FTX.com is based, said they froze the assets of its local trading subsidiary and “related parties” as more signs emerged that crypto mogul Sam Bankman-Fried’s empire is teetering.
Crypto Lender BlockFi Pauses Withdrawals in Wake of FTX Collapse
Crypto lender BlockFi said it could not conduct business as normal and would be limiting activity in the wake of FTX's collapse. The company said in a tweet that the "lack of clarity" around FTX's current situation meant it would pause client withdrawals. It also told clients not to deposit to its wallet or interest accounts.
FTX Digital Markets Assets Frozen in the Bahamas
JUST IN: The Securities Commission of The Bahamas has frozen the assets of FTX Digital Markets and related parties.
FTX’s Bankman-Fried Quietly Invested More Than $500 Million in Sequoia and Other VCs
Bankman-Fried’s trading firm, Alameda Research, which had close ties with his crypto exchange FTX and which shut down this week, invested at least $20 million in Paradigm last year, according to two people with direct knowledge of the matter.
California Financial Regulator Announces FTX Investigation
California's Department of Financial Protection and Innovation announced it was investigating FTX late Thursday. The regulator did not provide much detail in a press release, only saying it was "investigating the apparent failure of crypto asset platform FTX." A spokesperson declined to comment further.
