alameda Archives

FTX owes over $3 billion to its 50 largest creditors

Troubled crypto exchange FTX owes $3.1 billion to its top 50 creditors, according to documents filed in Delaware bankruptcy court. FTX’s top ten creditors alone have more than $100 million each in unsecured claims. The filing explained that the debt does not involve anything owed to company insiders and is subject to change as more information becomes available.

Crypto prices today: Bitcoin down 3.5%, ETH falls 7.3%

Bitcoin is currently trading at $16,109.58, a decline of 3.58% over the previous day. Ethereum fell 7.3% over the last 24 hours to $1,129.80. Solana fell 9.5% to $11.8, while Cardano is trading lower by 7.1% at $0.305. Avalanche (AVAX) fell 8% to $11.96. The global crypto market cap stands at $800.4 billion, a 4.23% decline over the previous day.

Bill Ackman remains bullish on crypto

Popular investor and hedge fund manager Bill Ackman said he likes Helium, a decentralized Wi-Fi mesh network. He remains bullish on cryptocurrencies, despite the recent collapse of the FTX and the market turmoil following it. He recently called for the removal of regulatory barriers and easing regulations in New York to make the city a crypto hub.

Man Group plans crypto hedge fund

The world’s largest publicly traded hedge fund manager, Man Group Plc, plans to launch a crypto-exclusive fund early next year. The fund will be approved for investors only after the company assesses it for counterparty risks. London-based Man Group trades cryptocurrency futures through their quant trading platform Man AHL.

FTX exploiter converts millions in Ether to Ren Bitcoin Tokens

The hacker behind the $600 million exploit of crypto exchange FTX started exchanging millions of dollars worth of Ether to Ren Bitcoin (renBTC). renBTC is a token that represents Bitcoin on other blockchains. Funds stolen from FTX have been steadily converted to ether over the past week.

In 2021, Sam Bankman-Frieds’ Alameda Research said Ren’s development team was “joining” the firm. The two entities were reportedly working on expanding Ren’s usage to several blockchains.

Nike launches .Swoosh Web3 platform

Apparel giant Nike has launched a new Web3 platform called .Swoosh that will offer Polygon-based NFT products. The platform will be the epicenter for Nike’s digital efforts around Web3. It will spotlight the brand’s NFTs and virtual apparel initiatives, including future ways for customers to become co-creators and share in digital product royalties.

Crypto prices today: Bitcoin up 0.5%, ETH rises 1%

Bitcoin is currently trading at $16,819.92, an increase of 0.5% over the previous day. Ethereum rose 1% over the last 24 hours to $1,265. Solana rose 0.9% to $14.5, while Cardano is trading higher by 1.87% at $0.336. Avalanche (AVAX) rose 1.05% to $13.26. The global crypto market cap stands at $846.05 billion, a 1.1% increase over the previous day.

Alameda Research was frontrunning FTX token listings: Report

Crypto compliance firm Argus reported that Sam Bankman-Fried’s Alameda Research used prior knowledge of tokens that were scheduled to be listed on FTX to buy them ahead of the public announcements and then sold them for a profit. Between the start of 2021 and March of this year, Alameda held $60 million worth of 18 different tokens that were eventually listed on FTX.

Crypto hedge fund Ikigai loses access to ‘large majority’ of assets on FTX

Ikigai Fund founder Travis Kling announced on Twitter that most of its assets are stuck in the bankrupt FTX. He said that Ikigai plans to continue trading the assets that the firm has left outside of FTX and decide what to do with its venture fund.

After FTX filed for bankruptcy, several crypto companies and investment funds revealed that they had exposure to FTX. This includes $95 million from the Ontario Teachers Pension Fund and $30 million from the crypto investment group CoinShares.

Fed’s top financial regulator urges ‘guardrails’ for crypto

The top U.S. Banking regulator at the Federal Reserve has urged Congress to pass legislation that would impose regulation on cryptos. “Recent events in crypto have highlighted the risks to investors and consumers associated with new and novel asset classes and activities when not accompanied by strong guardrails,” said Michael Barr, the Fed’s vice chair for supervision.