FTX was engulfed in more chaos on Saturday when the crypto exchange said it had detected unauthorized access and analysts said hundreds of millions of dollars of assets had been moved from the platform in “suspicious circumstances”.
FTX filed for bankruptcy on Friday, one of the highest profile crypto blowups, after traders rushed to withdraw $6 billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal.
Mr. Bankman-Fried, who lives in the Bahamas, has also been the subject of speculation about his whereabouts and he denied rumors on Twitter that he had flown to South America. When asked by Reuters whether he had flown to Argentina, he responded in a text message: “Nope”. He told Reuters he was in the Bahamas.
Blockchain analytics firm Nansen said it saw $659 million in outflows from FTX International and FTX US in the last 24 hours. The collapse shocked investors and prompted fresh calls to regulate the cryptoasset sector, which has seen losses stack up this year as cryptocurrency prices collapsed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Collapsed FTX hit by rogue transactions, analysts saw over $600-million outflowsThe turmoil at FTX sees at least $1 billion of customer funds vanish from the platform, sources say.
Read more »
Collapsed FTX hit by rogue transactions, analysts saw over $600 million outflowsFTX was engulfed in more chaos on Saturday when the crypto exchange said it had detected unauthorized access and analysts said hundreds of millions of dollars of assets had been moved from the platform in "suspicious circumstances".
Read more »
FTX collapse being scrutinized by Bahamas authoritiesThe Royal Bahamas Police says a team of financial investigators 'are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred'
Read more »
Marcos condoles with India after bridge accident that killed 135MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Saturday offered condolences to the families of the victims of a pedestrian suspension bridge that collapsed in India’s
Read more »
ITCZ, localized thunderstorms to prevail across countryTwo weather systems will bring cloudy skies and rain showers across the country, PAGASA said Saturday.
Read more »