|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Charles Schwab, a $7 Trillion Asset Management Giant, Is Preparing to Enter the Spot Crypto Market
Nov 22, 2024 at 11:10 pm
This move could bring significant institutional capital and further validate the cryptocurrency market.
Cryptocurrency exchange FTX has filed for bankruptcy in the United States, according to a statement released on Friday. The filing also includes trading firm Alameda Research and about 130 other affiliated companies.
“FTX, FTX.US, and Alameda Research Limited have commenced voluntary proceedings under Chapter 11 of the Bankruptcy Code in the District of Delaware,” the statement reads.
The filing comes after a tumultuous week for FTX, which saw the exchange facing a liquidity crisis and ultimately being unable to meet customer withdrawal requests. Rival exchange Binance had initially agreed to acquire FTX, but later backed out of the deal.
The statement adds that FTX has appointed John J. Ray III as its new CEO. Ray is a veteran bankruptcy attorney who previously oversaw the liquidation of Enron.
“The immediate relief from Chapter 11 will give FTX the opportunity to assess its situation and develop a plan to maximize recoveries for stakeholders,” the statement concludes.
FTX filed for bankruptcy in the United States on Friday, a court filing showed, as the cryptocurrency exchange’s liquidity crisis culminated in a stunning downfall.
The filing also included trading firm Alameda Research and about 130 other affiliated companies, according to the statement from FTX’s attorneys at Sullivan & Cromwell.
The filing in the District of Delaware came after a tumultuous week that saw FTX facing a liquidity crunch and ultimately being unable to meet customer withdrawal requests.
The exchange’s troubles began after a CoinDesk report raised concerns about the financial health of Alameda, which is owned by FTX founder Sam Bankman-Fried.
The report prompted Binance, the world’s largest crypto exchange, to walk away from a deal to acquire FTX, which was announced earlier this week.
The statement from FTX’s attorneys added that the exchange had appointed John J. Ray III as its new CEO.
Ray, a veteran bankruptcy attorney, oversaw the liquidation of Enron Corp after the energy company filed for bankruptcy in 2001.
“The immediate relief from Chapter 11 will give FTX the opportunity to assess its situation and develop a plan to maximize recoveries for stakeholders,” the statement concluded.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
-
-
-
-
- The Fascinating World of Rare British 50p Coins: From Benjamin Bunny to Kew Gardens
- Nov 23, 2024 at 04:25 am
- The world of coin collecting has seen a surge in interest over the years, with certain rare coins fetching eye-watering prices at auctions and on marketplaces like eBay. Among the most sought-after coins in the UK are 50p pieces, particularly those that feature unique designs or commemorate significant national events.
-
- The King Charles III 50p Coin: A New Era of Collectibles
- Nov 23, 2024 at 04:25 am
- The Royal Mint has released a series of 50p coins featuring the portrait of King Charles III, but one particular coin has quickly surpassed even the iconic Kew Gardens 50p coin in terms of desirability. With the growing interest in coin collecting, it’s now more important than ever to check your change — you may be holding onto a hidden treasure that could be worth much more than its face value.
-
-
-
- XRP (XRP) Keeps Attracting Interest With Its Increasing Price Trajectory as Rexas Finance (RXS) Emerges a Possible Rival
- Nov 23, 2024 at 04:25 am
- XRP has increased 4.34% over the previous 24 hours, raising its market capitalization above $65 billion. With analysts speculating about the likelihood of a major price breakout, this little movement has driven forecasts that XRP might shortly break $1.50. But another growing star in the crypto scene while the globe observes XRP’s every action is Rexas Finance (RXS). A Ripple millionaire sees this coin as a major rival to XRP’s supremacy since he believes it might soar by an amazing 19,900% to $16 in the next 70 days or less.