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Crypto wallets linked to the now-defunct crypto exchange FTX and the bankrupt trading firm Alameda Research have unstaked over 3 million Solana tokens, which is the largest SOL unlock since the company started selling its tokens back in November 2023. Blockchain analytics firm Lookonchain noted the unstaking activity by Alameda and FTX in an X post earlier today. At the time of the SOL unlocks, the tokens were valued at approximately $431 million. FTX And Alameda Move Thousands Of SOL To Binance After unlocking the tokens, the two firms then sent the SOL to Binance, which is the largest exchange in the crypto space in terms of 24-hour trading volume. On-chain data shared by Lookonchain shows the companies sent 25,000 SOL, worth around $3.3 million at the time, to the platform. Of the 3.03M $SOL($431.3M) unstaked by FTX/Alameda today, 24,799 $SOL($3.38M) has been deposited to #Binance.https://t.co/D4j4l4yNuFhttps://t.co/uLkjQFwVId pic.twitter.com/ig2Jl2CcXl — Lookonchain (@...

Holders of FTX’s FTT will be allocated 0.35% of the new Pudgy Penguins token PENGU, according to the NFT project’s distribution plan.  Pudgy Penguins announced the launch of PENGU early on Friday. A total of 88 billion tokens will distributed, with 17.8% allocated to the project’s team, 25.9% to NFT holders, and 12.35% to liquidity.  FTT holders will receive a share of 308 million tokens. Since the announcement, FTT rose by 7.7% to $3.75 before falling back to $3.39. However, roughly 13 hours beforehand, it had climbed 40%.  X user @DarkCryptoLord claims this pre-pump was a sign that “ someone’s committing crime in broad daylight ” and accused the Pudgy Penguins team of insider trading.  FTT holders??? Wow congrats for that insider trading pic.twitter.com/VeycGB8Ouh — Dark Crypto Larp (@DarkCryptoLord) December 6, 2024 @DarkCryptoLord believes FTT’s price action 13 hours before PENGU’s launch is a sign of insider trading. Read more...

The examiner appointed in the FTX bankruptcy has released its report, highlighting a variety of bad behavior from the firm and its executives leading up to its collapse. The report contains allegations about how FTX paid off whistleblowers, dealt with ‘capital issues’ at its bank, and when various executives knew about the insolvency of FTX group entities. Who knew? The report contains allegations about which executives and firms were aware of the ‘hole’ in FTX Group’s books before the collapse. It alleges that Ryan Salame ‘assisted with the creation of the backdated payment agent agreement; made or directed other FTX Group employees to make misrepresentations to banks about the purpose of FTX Group bank accounts; misappropriated FTX Group assets to buy real estate, restaurants, and food service companies, and to make other purchases and investments, including a private jet; and withdrew millions of dollars from his FTX.com account shortly before F...

Deltec Bank and Trust, the Bahamian bank that services the crypto industry, has been accused of knowingly aiding in the diversion of FTX customer deposits to Alameda Research and extending Alameda Research billions of dollars in credit to facilitate its issuance of popular stablecoin Tether. This is according to a motion filed in a class action lawsuit. The allegations are based on messages and testimony from former Alameda Research chief exec Caroline Ellison who agreed to share these messages and testimony to settle the lawsuit against her.  Deltec has served for years as one of the known banking partners for Tether, even publicly asserting the value of the stablecoin’s reserves.  Alameda Research was a trading firm that misappropriated billions in customer assets from FTX, a cryptocurrency exchange with significant overlapping leadership. The lawsuit specifically alleges that “ Deltec …individually identified incoming FTX customer deposits and manually transf...

Discover how to protect your crypto and recognize the early signs of a potential exchange collapse in this essential guide. The downfall in November 2022 of the FTX crypto exchange is a stark reminder of the risks inherent in this high-stakes financial sector.  The rapid fall, sparked by revelations of questionable financial health, left investors scrambling, underscoring the necessity for robust contingency planning.  Understanding the impacts of such a collapse, recognizing the warning signs, and knowing how to prepare can be the difference between safeguarding your assets and financial ruin. How does a crypto exchange collapse affect you? A crypto exchange collapse can happen for various reasons, including security breaches, hacking incidents, insolvency, or fraud. The effects of such an occurrence include the following: Money loss Anyone with funds in a collapsed exchange faces the possibility of losing it. The exchange may freeze the funds, or the customer may no longe...

Crypto exchange FTX might be bankrupt but it continues to spell bad news for Solana. During the ongoing trial of FTX’s former CEO Sam Bankman-Fried, Solana’s name has cropped up more than once.  It doesn’t help that Bankman-Fried was once a strong supporter of Solana. Following multiple mentions during the trial s, Solana’s price has dropped significantly in the recent past. One of the few saving graces amidst the gloom seems to be the excitement around the presale success of InQubeta (QUBE). The decentralized platform was rolled out just a few months ago and it’s already among the best new ICOs of 2023 after its presale funding crossed $3.6 million recently.  Powered by the Ethereum network, InQubeta enables startups working in the artificial intelligence (AI) sector to find reliable investors and bring their ideas to life. It also helps investors to access promising projects ahead of their market launch.  InQubeta...

BTC traders at Bitfinex and OKX are unwilling to use margin markets for bearish bets, creating an alarming imbalance that investors should pay close attention to. Crypto traders' urge to create leverage positions with Bitcoin (BTC) appears irresistible to many people, but it's impossible to know if these traders are extreme risk-takers or savvy market makers hedging their positions. The need to maintain hedges holds even if traders rely on leverage merely to reduce their counterparty exposure by maintaining a collateral deposit and the bulk of their position on cold wallets. Not all leverage is reckless Regardless of the reason for traders' use of leverage, currently there is a highly unusual imbalance in margin lending markets that favors BTC longs betting on a price increase. Despite this, so far, the movement has been restricted on margin markets because the BTC futures markets remained relatively calm throughout 2023. Margin markets operate differently from futures con...

The shares were bought by FTX founder Sam Bankman-Fried and co-founder Gary Wang last year and have been tussled over since the collapse of FTX. Robinhood’s board of directors has approved a plan to buy back the $578 million stake in their company which was bought by former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang last year. Robinhood confirmed it got board approval to buy back the stake in its fourth quarter report, which was published on Feb. 8. “Our Board authorized us to pursue purchasing most or all of our shares that Emergent Fidelity Technologies bought in May 2022," said Robinhood’s chief financial officer Jason Warnick, adding “The proposed share purchase underscores the confidence the Board of Directors and management team have in our business.” The FTX co-founders bought 55 million shares of Robinhood stock — worth $578 million at current prices — in May through Emergent Fidelity Technologies by taking out loans directly from FTX’s sister firm Alameda Res...

FTX debtors have identified $5.5 billion of liquid assets associated with both FTX and FTX US – and 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 that the $5.5 billion identified is comprised of $1.7 billion in cash, $3.5 billion in crypto assets, and $0.3 billion of securities from both FTX and FTX US.  KYC & Audit Solutions! SolidProof “The FTX Debtors also confirmed that, based on current estimates of the amount of digital assets associated with the FTX.com and FTX US exchanges as of the Petition Date, there is a substantial shortfall of digital assets at both exchanges,” stated the company’s news rele...

Barry Silbert’s letter to shareholders came just hours after Cameron Winklevoss wrote an open letter to him accusing him of defrauding customers. The crypto community woke up to another drama-filled day after the Digital Currency Group (DCG) chief's reflection went wrong. DCG chief Barry Silbert penned a letter to the shareholders on Jan. 10, reflecting on the state of the crypto market and the growing FUD around the company. DCG is the parent company of Genesis Global Capital, a crypto lending firm and Grayscale, the world’s leading crypto asset manager. In the letter , Silbert addressed the growing issues around DCG and its subsidiaries owing to the bear market and FTX contagion. He said that bad actors and the implosion of leading crypto companies have wreaked havoc on the industry and noted that “DCG and many of our portfolio companies are not immune to the effects of the present turmoil.” I’m incredibly proud of the role that DCG & I have played as pioneers & builder...

SBF has allegedly cashed out $684,000 from a crypto exchange in Seychelles while being under house arrest, according to an on-chain investigation. FTX founder Sam Bankman-Fried is report edly cashing out large amounts of cryptocurrency soon after being release d on bail, on-chain data suggests. SBF has cashed out $684,000 in crypto to an exchange in Seychelles while being under house arrest, according to the on-chain investigation by DeFi educator BowTiedIguana. Decentralized finance (DeFi) analyst BowTiedIguana took to Twitter on Dec. 29 to report on a series of obfuscated wallet transactions allegedly linked to SBF, suggesting that the former FTX CEO could have violated release conditions to not spend more than $1,000 without permission from the court. According to BowTiedIguana’s Analysis , SBF’s public address (0xD5758) on Dec. 28 sent all remaining Ether (ETH) to a newly created address (0x7386d). BowTiedIguana noted that SBF took over the address that was originally owned by ...

Bitcoin price is up, alongside the prices of stocks and altcoins, thanks to a “positive” CPI report. Bitcoin price is up on Dec. 13, and a market-wide rally in crypto prices has some investors hopeful that the intra-day high at $18,105 is a sign that BTC has bottomed.  A primary catalyst for the rally appears to be the Consumer Price Index report which showed energy decreasing by 1.6%, which should be welcomed news for struggling Bitcoin miners. With the overall CPI report showing easing inflation at 7.1% versus the previously expected 7.3%, equities traders are reacting by driving prices higher. Daily cryptocurrency market performance. Source: Coin360 The stock market is also flashing green, with the Dow showing a 600-point increase and the S&P 500 registering a 100-point gain. As reported by Cointelegraph, Bitcoin’s price action remains closely correlated to U.S. equities and today’s rally is no exception to the trend.  Here are a few reasons why Bitcoin price is up today . Bit...

FTX ’s new management has hired a team of forensic investigators to track the billions of dollars that went missing from the crypto exchange. According to Wall Street Journal‘s anonymous sources, the investigators are from the advisory firm AlixPartners. The team is led by Matt Jacques, a former Chief Accountant for the Securities and Exchange Commission’s enforcement division. JUST IN: FTX hires forensic investigators to track the billions of dollars that went missing. — Watcher.Guru (@WatcherGuru) December 7, 2022 The forensics firm will be in charge of conducting “asset-tracing” to identify and recover the missing digital assets. Alongside, it will complement the restructuring work being undertaken by FTX . It is worth recalling here that a lawyer representing FTX debtors revealed that, towards the end of November, “a substantial amount of assets have either been stolen or are missing” from FTX. In fact, the funds...