FTX Archives - Cryptotimes Africa

News

Former FTX Engineer Nishad Singh Receives Lenient Sentence

by Terry Kunle October 31, 2024

Former FTX executive, Nishad Singh, avoids prison time after being sentenced the Manhattan federal judge. Singh is sentenced to three years of supervised release for his role in FTX’s collapse. According to NBC News’ report, Singh was spared from spending time in prison…

News

FTX Court-Approved for Full Repayment of Customers, Despite Mixed Reactions

by Terry Kunle October 9, 2024

Beleaguered crypto exchange FTX has secured a court order allowing them to fully repay customers using recovered assets valued at $16.5 billion. This comes after the exchange's dramatic collapse in November 2022. U.S. Bankruptcy Judge Approves Repayment Plan The plan, approved by…

News

FTX Reportedly Considering Bids to Restart Exchange, Decision Expected by Year End

by Crypto Oracle October 25, 2023

Fallen crypto exchange FTX is currently evaluating proposals from three prospective bidders seeking to restart the crypto trading platform, according to a recent Bloomberg report. During a court hearing held in Wilmington, Delaware, Kevin M. Cofsky, the investment banker representing FTX from Perella…

News

Saudi Arabian Funds, BlockFi’s Founder, and a Star Witness: Recapping the Dramatic Second Week of the SBF Trial

by Crypto Oracle October 14, 2023

From FTX founder Sam Bankman-Fried's attempts to raise company funds from the Crown Prince of Saudi Arabia to using Thai prostitutes' identities in an attempt to unfreeze crypto accounts, the second week of Bankman-Fried's criminal trial proved damning for the disgraced "king…

News

Alameda Research Lost $200M to Several Phishing Attacks Due to “Poor Security Practices”: Ex-FTX Engineer

by Crypto Oracle October 12, 2023

Former Alameda Research software engineer Aditya Baradwaj has exposed several security flaws that reportedly caused the FTX’s sister hedge fund at least a staggering $200 million. In a series of posts on X (Twitter), titled ‘The Hacks,’ the whistleblower revealed, “poor security practices at Alameda Research…

News

Caroline Ellison Begins Star Witness Testimony in SBF Trial

by Crypto Oracle October 10, 2023

Tensions were high in Manhattan Federal Court Tuesday as former CEO of Alameda Research, Caroline Ellison, began her star witness testimony against Sam Bankman-Fried. The petite, glasses-wearing Ellison took a decent amount of time to identify the defendant in the courtroom. With only…

News

Leaked Writings Reveal Sam Bankman-Fried’s Struggles Post-FTX Collapse

by Crypto Oracle September 18, 2023

Sam Bankman-Fried, the former CEO of crypto exchange FTX, has expressed his deep frustration and regret over the situation he finds himself in in a leaked 250-page manuscript. In the writings, said to be leaked to crypto influencer Tiffany Fong and later shared with…

News

FTX Claims Portal Back in Action After Cybersecurity Incident in August

by Crypto Oracle September 17, 2023

FTX has reopened its customer claims portal, unfreezing user accounts that were affected by a cybersecurity incident in August. In a recent statement, FTX clarified that the freezing of customer accounts was a precautionary measure and emphasized that additional security measures have been…

News

Solana Price Prediction as SOL Bounces 4% Overnight – Is the Sell-Off Over?

by Crypto Oracle September 14, 2023

Despite ongoing concerns about FTX’s planned liquidation of over $1 billion in Solana (SOL) tokens, which amount to roughly 16% of the cryptocurrency’s overall token supply, SOL has mustered a rally of more than 3% on Thursday. Solana, the token that powers…

News

Apple secures rights to book on Sam Bankman-Fried for $5M: Report

by Crypto Oracle September 10, 2023

“Big Short” author Michael Lewis’ book on the former FTX CEO is scheduled to be released on Oct. 3, the day SBF’s criminal trial in New York begins. Multinational technology company Apple has reportedly paid $5 million for the rights to author…