FTX US

FTX debtors have identified $5.5 billion of liquid assets associated with both FTX and FTX US. Meanwhile, a substantial portion of it has gone up in smoke.  The latest update from the company states that $90 million in digital assets from the exchange “was subject to unauthorized third-party transfers post-petition.” FTX US Asset Shortfall FTX debtors unveiled details about its asset composition during a meeting with the  Official Committee of Unsecured Creditors (UCC) of FTX on Tuesday. Its numbers indicate…

Skybridge Capital founder Anthony Scaramucci is putting money behind a new crypto firm formed by Brett Harrison, former boss of the defunct FTX US.  The software company will reportedly create a service that lets crypto traders access both centralized and decentralized markets.  Scaramucci Sticks By FTX US Boss According to Bloomberg, Harrison said Scaramucci will be using his own funds to back the former CEO’s software venture. The software in mind will let traders write algorithms for their trading strategies,…

Brett Harrison – former CEO of FTX US – spoke with his followers over the weekend about the tendency of crypto companies to resort to token issuance for raising funds.  He was also questioned regarding his insider knowledge about FTX US and its collapse. Why Not Go Public? In a tweet on Sunday, Harrison questioned why more crypto companies don’t simply go public early in their lifecycle the way Amazon did.  “Relatedly, how do companies reconcile the desire to stay…

On-chain data indicates that FTX US – which filed for bankruptcy alongside FTX on Friday – has frozen customer withdrawals.  According to Etherscan – an Ethereum block explorer – the FTX US wallet hasn’t processed an outbound transaction since 05:20:11 PM UTC on Friday. Trading on the exchange is still live. However, a notice on the site states that trading may be “halted” within a few days, and that withdrawals “are and will remain open.” FTX, the world’s second-largest crypto…