crypto

FTX Roundup – SBF Interview, Stolen Money Moves, and Politicians Return Donations

Various developments have been made today regarding the collapsed exchange FTX.
Key TakeawaysIn a conversation published today by FTX CEO Sam Bankman Fried, he discussed his actions during FTX’s collapse.
255 BTC ($4.2 Million) of funds taken from FTX appear to have been deposited onto crypto exchange OKX.
BlockFi’s bankruptcy proceedings revealed $355 million of frozen FTX funds.
Although initial statements suggested that the company had complied with regulators, Bankman Fried admitted that the company had reached out to regulators and received no response within one day. This was a crucial decision for the exchange’s future. While early statements suggested that the company had complied with regulators, Bankman-Fried admitted that the company had reached out to regulators and received no response within one day.”They didn’t respond, and then we did it,” Bankman-Fried said, suggesting that the decision “was critical to the exchange being able to have a future.”Bankman-Fried also said that his lawyers told him not to admit to wrongdoing, referring to an apology he wrote on Twitter on November 10 in which he wrote, “I’m sorry… I fucked up.” Bankman-Fried said that his lawyers told him: “You have to promise that you never, ever, ever say you fucked up again.”Other FTX DevelopmentsOther facts concerning FTX have come to light. Today, ZachXBT, an independent crypto sleuth claimed to have tracked the movement funds from FTX in November. ZachXBT believed the perpetrator had transferred 255 BTC (4.1 million USD) to the OKX crypto exchange OKX, after mixing funds via ChipMixer. The Texas Tribune reported that Beto O’Rourke, a Texas Democratic candidate, had also returned a $1million donation from Bankman Fried. O’Rourke reportedly returned the donation due to it being unsolicited and not because of controversy surrounding FTX. The exchange collapsed on November 4, and the funds were returned on November 4. The Popular Information substack authors also stated that at least seven other politicians had returned funds donated by FTX leaders prior to November 16. BlockFi’s bankruptcy proceedings revealed that the lending company has deeper connections with FTX, including $335million of assets on FTX’s exchange. BlockFi also sued Bankman-Fried to seize Robinhood shares that were pledged as collateral. Yesterday’s filing indicated that BlockFi owes FTX $275 Million. Decentral Media, Inc. does not provide investment advice. We do not provide personalized investment advice or any other financial advice. This website’s information is subject to change at any time. The information on this website could become obsolete or incorrect. You may not be able to update any information that is outdated, incomplete or inaccurate. We also reserve the right to change any information that is incorrect, incomplete or outdated. If you need investment advice about an ICO, IEO or other investment, we strongly recommend that you consult a licensed financial advisor or other qualified financial professional. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.See full terms and conditions.Recommended News