US sports stars named in lawsuit over FTX's deceptive practices
The failure of the FTX platform has undermined investor confidence and threatened the young cryptocurrency sector, pushing its main players to mobilise to save it.
The new CEO of troubled cryptocurrency platform FTX said Saturday the company was making "every effort to secure all assets" following unauthorized transactions potentially worth hundreds of thousands of dollars. FTX US and FTX.com "continue to make every effort to secure all assets, wherever located," Ray, who specializes in corporate turnarounds, said in the statement.
Crisis-struck cryptocurrency platform FTX has gone bankrupt in the United States and its chief executive Sam Bankman-Fried has resigned, it said Friday, the latest blow in a saga that has reverberated across the digital currency landscape.
Asian stocks started down on Thursday after inconclusive US midterm election results and a turbulent cryptocurrency market left Wall Street and European markets in a sea of red. The uncertainty, especially about how the midterm results would impact inflation, transferred to Asia overnight.
Sam Bankman-Fried has undergone a rapid transformation from top of the heap in the world of cryptocurrencies as chief of the FTX digital exchange to embattled executive forced to seek help from rival Binance. The rapid about-face was a shock: Only Monday, Bankman-Fried insisted FTX was financially stable.
One of the world's biggest tech conferences will get going in Lisbon on Wednesday, after Ukraine's first lady formally opened the event by urging participants to use their skills to save lives rather than end them. But at Tuesday's opening ceremony, Changpeng Zhao, boss of one of the world's biggest crypto companies Binance, tried to play down the crash.
Scammers stole cryptocurrency worth roughly $100 million from Binance, the world's biggest exchange for cryptoassets, the firm said on Friday. It is among the biggest thefts in cryptocurrency history and comes in a year where scammers preying on the sector have got away with billions of dollars.