This surge suggests significant institutional attention despite the token’s historical association with FTX’s financial challenges.
Sam Bankman-Fried blamed Binance for balance sheet leak to media: Court evidence
An internal document was revealed in court showing Sam Bankman-Fried believed Binance leaked Alameda’s balance sheet to the media in 2022.
Caroline Ellison testimony: SBF bribed Chinese officials for $150M to unfreeze funds
Caroline Ellison, the star witness in the Sam Bankman-Fried criminal trial, testified that SBF tried to use identities linked to Thai sex workers to unfreeze funds before bribing Chinese officials for millions.
FTX co-founder Wang discusses plea deal, knowledge of financial concepts at SBF trial
On the final day of his testimony, FTX co-founder Wang discussed talking to the feds and his interpretation of the “FTX is fine” tweet.
Latest update — Former FTX CEO Sam Bankman-Fried trial [Day 1]
The former FTX CEO faces seven counts of conspiracy and fraud. A New York court will decide his fate.
Class-action suit filed against Binance for alleged harm to FTX before its collapse
A California resident is suing Binance and its CEO for tweets last November that, according to allegations, led to the collapse of the rival exchange.
Sam Bankman-Fried FTX trial — five things you need to know
The long awaited trial of former FTX CEO Sam Bankman-Fried gets underway on Oct. 4 – here’s what you need to know.
FTX 2.0 to launch soon? Court filing shows a reboot plan in the works
The new FTX CEO has undertaken a series of meetings over the past month to work on the relaunch of the failed crypto exchange by entering in a bidding process.
FTX Japan allows total withdrawal of funds; users rejoice the ‘escape’
Numerous community members have confirmed that all their money has been paid out. However, the FTX investors watching from the rest of the world remain hopeful of a similar outcome.
FTX profited from Sam Bankman-Fried’s inflated coins: Report
Former FTX CEO allegedly used his popularity to lure developers, and Alameda Research to inflate the price of certain coins.
Sam Bankman-Fried to reportedly plead not guilty to criminal charges
Following a court hearing on Dec. 22, SBF was released on bail and is slated to appear on court on Jan.3 before U.S. District Judge Lewis Kaplan in Manhattan.
FTX customers file class-action lawsuit to get priority reparations
Customer class members don’t want to stand in line along the creditors of a failed crypto platform.
Sam Bankman-Fried found ‘chilling’ in JFK airport lounge on $250M bail bond
Based on the pictures, crypto community members confirmed that SBF’s location was the Greenwich (Business Class) lounge in American Airlines’ Terminal 8.
FTX Token Jumps 65% As SBF Returns Home, Can FTT Hold The Gains?
FTX Token (FTT) saw massive gains on Thursday as news of former CEO Sam Bankman-Fried making bail spread across the space. The rapid uptick in the price of the token showed the positivity, albeit brief, that had spread across investors in the token. However, as the dust settles on the disgraced founder, the question now becomes whether the digital asset can hold the gains from yesterday.
FTT Jumps 65%
On Thursday, Bankman-Fried’s parents had put their home up to raise money for the $250 million bond put on the former CEO, with friends and associates speculated to have helped come up with the 10% collateral required for his release. However this was achieved, Sam was released under house arrest.
Soon after the news broke, the price of FTX’s native token FTT made a significant jump. After trending just below $1 for the better part of the week, the 65% push had brought it above $1.1. This brought renewed vigor to the market and momentum rightfully picked up.
The problem now is that FTT has not done a good job of holding onto these gains. Naturally, the brief surge in price had triggered sell-offs among investors looking to take out some profit, triggering another fall below $1. In the early hours of Friday, there had been a 9% jump that brought FTT’s price above $1 once more, but even this would not hold.
Support remains weak at $1 and it is now a battle between the bears and the bulls to turn this critical level in their favor. Right now, the bears remain in control of the digital asset with the price sitting at $0.96, and FTT has struggled to break the resistance mounting at $1.
What About FTX?
For many in the space who lost money when the FTX crypto exchange collapsed, this is just the beginning of the battle. Charges have already been brought against Bankman-Fried and his associates in what is being called the ‘largest fraud of the generation’ but there is still a long way to go.
On Thursday, it was reported that Paul Hastings LLP had been appointed by a committee to represent the interests of creditors in the FTX bankruptcy case. So far, the new FTX CEO John J. Ray III said he and his team had been able to recover around $1 billion worth of assets.
Former Alameda Research executive Caroline Ellison and FTX co-founder Gary Wang have already pled guilty to fraud charges and agreed to work with authorities. Both have been released on $250,000 bonds with travel restrictions.
As the FTX case develops, it is expectedly going to have a big impact on the price movements of FTT tokens. Given this, investors should exercise caution when investing and trading the cryptocurrency.
Democrats to reportedly return over $1M of SBF’s funding to FTX victims
Three democratic committees, the DNC, the DSCC and the DCCC, pledged to return SBF’s political donations after the entrepreneur was charged with eight counts of financial crimes.
Binance ‘put FTX out of business’ — Kevin O’Leary
A US Senate committee heard details of the investor’s conversations with Sam Bankman-Fried before the collapse.
Crypto blame game back on US Senators’ menu following SBF arrest
While Congressman Brad Sherman saw SBF as the poster child of the crypto ecosystem, congressman Tom Emmer highlighted the crypto community’s contribution to uncovering the supposed FTX fraud.
FTT investors’ claims to be investigated for securities laws violations
To help the investors legally recoup losses, Schall Law Firm plans to investigate FTX for issuing misleading statements or failing to disclose crucial information.
Sam Bankman-Fried’s parents no longer on the Stanford Law School roster
Joseph Bankman and Barbara Fried have started facing professional consequences for their child Sam Bankman-Fried’s illegal actions.
Regulators face public ire after FTX collapse, experts call for coordination
U.S regulators and their failure to avoid another crypto contagion have raised a lot of questions over their credibility.