FTX is one of the leading cryptocurrency exchanges in the world. Infact, by volume FTX was the second largest exchange after Binance sometime back.
Founder of FTX
Founder of FTX
Sam Bankman-Fried is the founder of FTX. He's also the founder of Alameda Research, the investment arm of FTX.
The Bankruptcy
The Bankruptcy
Acc. to a statement released by Sam, FTX requires over $9 billion to overcome bankruptcy. It has filed for bankruptcy.
SEC investigation
SEC investigation
SEC has taken steps to investigate FTX for potential security violations, criminal activities or any sort of offense committed.
Ukraine Money Laundering
Ukraine Money Laundering
Rumours are FTX foundation & Ukraine's fundraising foundation "AidforUkraine" collaborated to convert crypto donation to fiat illegally.
The Theory behind
The Theory behind
The speculations highlights that Ukraine allegedly invested in FTX, who donated money to Democrats using the exchange.
The Denial
The Denial
Alex Bornyakov, deputy minister of Ukraine, tweeted & denied such allegations.
Where is Sam?
Where is Sam?
SAM, co-founder Gary Wang are understood to be under the supervision of local authorities in Bahamas.
What's next?
What's next?
FTX is likely to dissolve and with it crypto markets will face an intense sell-off. User's funds aren't safe anymore after the hack which is done intentionally
Why Binance didn't buy FTX?
Why Binance didn't buy FTX?
Swipe up to learn why the deal failed to take-off.