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:
Interview: Nigeria would learn from Chinese model of developmentInterview: BRI cooperation with China boosts infrastructure connectivity in Africa: AU officialChina's space station lab module Mengtian ready for launchSouth Africa sees over 1 mln travelers during Easter holidayChina's digital economy hits 45 trln yuan: reportEurozone economy on brink of recessionChina's industrial recovery gaining steam despite profits dipXi extends sympathy to Japanese PM over COVIDChina launches new satellite via KuaizhouXi Says China
3.0783s , 6500.828125 kb
Copyright © 2024 Powered by A timeline of the collapse at FTX ,International Infusion news portal