Tag: FTX

  • SBF Tries to Rewrite FTX History Before Appeal

    SBF Tries to Rewrite FTX History Before Appeal

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    Yashika Gupta

    In a freshly released 15-page, 10,000-word statement, the convicted founder of the collapsed crypto exchange argues that FTX was never insolvent. Instead, he paints the 2022 bankruptcy as a case of “temporary liquidity crunch” caused by panic, not mismanagement. According to Bankman-Fried, FTX held $14.6 billion in assets against approximately $8 billion in customer claims…

  • Trump Administration Clears Path for Crypto in 401(k) Plans

    Trump Administration Clears Path for Crypto in 401(k) Plans

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    Yashika Gupta

    In a major policy shift, the Trump administration has officially rescinded Biden-era guidance that restricted the inclusion of cryptocurrency and related digital assets in 401(k) retirement plans. This move by the U.S. Department of Labor has reignited a heated debate around the prudence of allowing volatile digital assets like Bitcoin, NFTs, and meme coins into…

  • Backpack Exchange Acquires FTX EU for $32.7 Million to Launch Regulated Crypto Derivatives in Europe

    Backpack Exchange Acquires FTX EU for $32.7 Million to Launch Regulated Crypto Derivatives in Europe

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    Oscar

    Backpack Exchange, a crypto trading firm founded by former Alameda Research and FTX employees, has acquired the European arm of the bankrupt FTX for $32.7 million. The acquisition of FTX EU, which holds a MiFID II-license under the Cyprus Securities and Exchange Commission (CySEC), marks a strategic move for Backpack to expand its offerings in…