FTX collapse Archives - Crypto Genius™

FTX Trading: A Phoenix Rising from the Ashes of Bankruptcy?

Crypto News and Updates / Logan / November 1, 2023

Once a pioneer in the cryptocurrency trading world, FTX Trading is currently navigating through potential recovery paths, following its collapse under fraud allegations and bankruptcy. The company is in discussion with three potential bidders who are interested in resurrecting the fallen exchange. The options on the table include selling the platform in its entirety, leveraging a strategic partnership for revival or undertaking a solo venture to reboot the platform.

The plan for recove

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FTX Collapse: The Trial of Former FTX CEO Sam Bankman-Fried

Former FTX CEO, Sam Bankman-Fried, is set to face a 21-day trial starting October 4, following charges related to the collapse of the cryptocurrency exchange FTX. The exchange, once a household name in the U.S. for its high-profile sponsorships and campaigns, faced a liquidity crisis due to the plummeting value of its native FTX Token (FTT). Bankman-Fried has been accused of seven counts of conspiracy and fraud, with potential penalties amounting to over a century of jail time if found guilty