Ftt crypto

Earlier it was reported that the former FTX lawyer Daniel Friedberg had cooperated with American prosecutors and would serve as a witness in Bankman-Fried’s trial. There were also reports that the US Securities and Exchange Commission (SEC) was looking at whether FTX’s investors had performed due diligence checks.  Ftx crypto stock When FTX collapsed last November, the crypto exchange’s native token, FTT, was thrust into the spotlight.

You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. Compare Standard and Premium Digital here. Business NewsAre fears of a shoplifting surge running away from the facts? While the collapse of FTX and Alameda – valued at more than $30 billion and now essentially worth nothing – was dramatic, the bigger implication is simply the potential lost trust in crypto. Bank runs are rare in traditional financial institutions, but they are increasingly common in the crypto space. Given that Bankman-Fried and FTX were seen as some of the biggest, most trusted figures in crypto, these events may lead more investors to think twice about putting money in crypto.

FTX CEO Sam Bankman-Fried also said in a tweet that the company had “come to an agreement on a strategic transaction with Binance for FTX,” adding, “Things have come full circle.” Binance was an early strategic investor in FTX, but FTX bought out its stake last year, with Bankman-Fried suggesting the companies differed on regulatory issues. Cookies on FT Sites Be the first to receive the latest project updates and crypto guides

Binance was aiming to “de-risk” its platform after seeing “alarming trends” in the balance sheet of companies tied to Bankman-Fried, according to a person close to Binance who asked not to be identified as the information is not public. Binance declined to comment. What is FTX? In remarks to reporters outside the courthouse Thursday night, U.S. Attorney for the Southern District of New York Damian Williams praised the prosecution team and warned other bad actors.