FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse.
FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.
Here is a timeline of what led up to this week’s announcement after an implosion at FTX kicked off what many had expected to become a “crypto winter.”
Nov. 2: Coindesk reports Alameda Reseach, Bankman-Fried’s cryptocurrency trading firm, holds a large amount of FTT, a token issued by FTX, suggesting the finances of the two are intertwined and Alameda faces a cash crunch. The report spooks participants in the crypto market.
Nov. 6: Rival cryptocurrency exchange Binance announces that the firm plans to sell all its holdings in FTT. The price of FTT tanks.
Related articles:
Related suggestion:
Heart attack sees bus driver ram crowd, kill 3 pedestriansChina urges US to put ties back on trackMore flights between China, US approvedMOC criticizes US' move against Chinese companiesMexican embassy staff leave Ecuador after break in diplomatic tiesHeart attack sees bus driver ram crowd, kill 3 pedestriansBeijing calls for restoring dialogue(W.E. Talk) Salikyu Sangtam: How to view global politics from the Chinese Tianxia perspective?Severe convection causes 4 deaths, more than 10 injuries in E ChinaBeijing bolsters mediation efforts, seeks lasting peace
1.9162s , 6502.8359375 kb
Copyright © 2024 Powered by A timeline of the collapse at FTX ,World Wave news portal