3/30/2023 0 Comments Binance customer support![]() “ Binance Walks Away from Deal to Rescue FTX.” (Subscription required.)įinancial Times. “ Bitcoin, Ethereum Plummet as Crypto Market Falls Below $1 Trillion Overnight.” ![]() “ Crypto Exchange FTX Saw $6 Bln in Withdrawals in 72 Hours.”ĭecrypt. “ Binance to Sell $529 Million of Bankman-Fried’s FTT Token.” “ Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books: Source.”īloomberg. “ Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet.”ĬoinDesk. Binance CEO Changpeng “CZ” Zhao said the decision to liquidate the exchange’s FTT position was based on risk management, following the collapse of the Terra (LUNA) crypto token earlier in 2022.ĬoinDesk. 6 that it would sell its entire position in FTT tokens-roughly 23 million FTT tokens valued at about $529 million. 22: Bankman-Fried is released on a $250 million bond, the largest in history, by a federal judge.īinance Says It Will Sell All Its FTT Tokensīinance, the world’s biggest crypto exchange, announced on Nov. 12: Bankman-Fried is arrested by Bahamian authorities. 18: The Bahamas takes control of FTX assets held there. 12: FTX reports an alleged hack, suspected to be up to $477 million, and moves its digital assets to cold storage for security reasons. FTX files for Chapter 11 bankruptcy protection. 11: Bankman-Fried steps down as FTX CEO, is replaced by a court-appointed CEO with restructuring experience. businesses’ liquidity crisis, says affiliate Alameda Research to wind down. 10: The Bahamas freezes assets of FTX’s subsidiary there Bankman-Fried admits non-U.S. 9: Binance walks away from FTX acquisition after conducting due diligence. 8: Binance says it will buy FTX’s non-U.S. 7: FTX announces liquidity crisis, seeks bailout from venture capitalists, then Binance. 6: Rival exchange Binance sells all FTT tokens. 2 scoop by crypto news site CoinDesk that revealed that Alameda Research, the quantitative trading firm also run by Bankman-Fried, held a position valued at $5 billion in FTT, the native token of FTX. 3, 2023.įTX’s collapse took place over a 10-day period in November 2022. He pleaded innocent to all criminal charges on Jan. FTX founder and ex-CEO Sam Bankman-Fried was arrested in The Bahamas and extradited to the United States in late December.In the hours following, FTX experienced a possible hack in which hundreds of millions worth of tokens were stolen.11, 2022, FTX’s CEO stepped down and the company filed for bankruptcy. FTX in November 2022 faced a liquidity crisis and searched for bailout funds rival exchange Binance considered buying portions of the company but quickly backed out.FTX’s collapse shook the volatile crypto market, which lost billions at the time, falling below a $1 trillion valuation.FTX collapsed in early November 2022 following a report by CoinDesk highlighting potential leverage and solvency concerns involving FTX-affiliated trading firm Alameda Research.
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