FTX founder Sam Bankman-Fried has denied speculation that he’s fled to Argentina as the saga surrounding his collapsed cryptocurrency exchange continued to unfold in near-real time on Twitter. In a text message to Reuters on Nov. 12, Bankman-Fried, who also goes by SBF, said he was still in the Bahamas. When Reuters asked him specifically whether he had flown to Argentina, as the rumors suggest, he responded: “Nope.” Users took to Twitter over the weekend to speculate whether SBF was on the run after filing for Chapter 11 bankruptcy for FTX Group, which includes a slew of companies such as …
While the FTX crisis is continuing to unfold, the former head of risk at Credit Suisse believes the exchange's fall from grace should be the last catastrophic event — at least in this market cycle. CK Zheng, the former head of valuation risk at Credit Suisse and now co-founder of crypto hedge fund ZX Squared Capital said that FTX’s fall was part of a “deleveraging process” that began after the COVID-19 pandemic and further accelerated after the fall of Terra Luna Classic (LUNC), formerly Terra (LUNA). “When LUNA blew up a few months ago, I expected a huge amount of …
The collapse of FTX has shown that where there’s smoke, there’s fire. In a year filled with jaw-dropping unveilings, none compare to the bewildering fall of Sam Bankman-Fried’s FTX exchange. While many were stunned, there were a few tell-tale signs that may have indicated not everything was peachy-perfect over at FTX headquarters. These issues began to compound and, on Oct. 5, I published a detailed commentary about my decision to begin pulling funds out of FTX and short FTT. Im taking all of my capital out of @FTX_Official and going short $FTT FTX has been swinging and missing all year …
Continuing his so-called apology tour, Sam Bankman-Fried appeared on a Twitter Spaces chat with Unusual Whales and told nearly 60,000 listeners that he intends to testify at the United States House of Representatives Financial Services Committee remotely on Dec. 13. He was previously confirmed to appear in person. Bankman-Fried, who is allegedly currently located in the Bahamas, missed the deadline to confirm his appearance before the Senate Banking Committee the following day, despite the threat of a subpoena. Despite his frequent public speaking, Bankman-Fried has gone silent on Twitter himself, not posting since Dec. 9, when he indicated his agreement …
Sam Bankman-Fried's legal team is seeking to remove a bail condition that prevented him from accessing FTX's funds, according to court filings from Jan. 28. A letter from Bankman-Fried's lawyer, Mark Cohen, to United States District Court Judge Lewis Kaplan stated that Bankman-Fried should have access to assets held by FTX, claiming the client was not involved in previous unauthorized transactions. FTX and FTX US have sought over $659 million in unauthorized transfers amid the collapse of the cryptocurrency exchange in November 2022, according to Nansen data reported by Cointelegraph. Bankman-Fried denied any involvement in the transactions. As per the …