By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: FTX Meltdown Latest News
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Crypto > Binance > FTX Meltdown Latest News
Binance

FTX Meltdown Latest News

Shayne Heffernan Ph.D.
Last updated: November 11, 2022 8:55 am
Shayne Heffernan Ph.D.
Share
3 Min Read
ftx
SHARE

FTX needs to raise about $9.4 billion from investors and rivals, as the exchange seeks to save itself after customer withdrawals, as CEO Bankman-Fried is under investigation by the U.S. Securities and Exchange Commission for potential securities law violation.

Genesis Trading derivatives business had approximately $175 million in locked funds on FTX.

Sequoia Capital wrote down a $150 million exposure to FTX to zero.

The Ontario Teachers Pension Plan (OTPP) said on Thursday it had invested a total of $95 million in FTX.

 FTX transferred at least $4 billion to Alameda, to support the crypto trading firm after a series of losses.

Justin Sun, the founder of the crypto token Tron, said he was prepared to offer billions of dollars to FTX provided the due diligence checks out, but the speed at which Binance walked away, the news of SEC involvement and disclosed operations of Alameda it is unlikely anyone will step in to save the day.

Temasek Holdings said in emailed comments to Reuters: “We are aware of the developments between FTX and Binance, and are engaging FTX in our capacity as shareholder.”

Sam Bankman-Fried’s trading firm Alameda Research reportedly owes his crypto exchange FTX $10 billion after taking loans funded by deposits from FTX customers. Both Alameda and FTX are controlled by Sam Bankman-Fried, who issued a public apology this morning.

Bankman-Fried also promised that FTX.us users are fine (the domestic exchange operates as a separate entity) and that everything going on relates to the FTX.com exchange available internationally.

FTX’s troubles began when Alameda’s balance sheet was questioned and the public knowledge that much of it was made up of FTT, the FTX token. Binance founder Changpeng Zhao decided to take advantage of the situation and announced plans to sell the billions of FTT it held, the move, as CZ planned, killed FTT and in turn Alameda and FTX.

The FTX meltdown will get worse before it gets better.

But it is not bad news for everyone

BNB the Binance coin has done well as the FTX ship sank despite a sizable loss on the FTX token, Binance stands to gain the majority of FTX users a fact that probably prompted CZ to take the knife to FTX in the first place.

Coinbase, the biggest crypto brokerage and exchange operator in the U.S. will gain most of the US users.

KXCO Trade Desk is the firm most likely to build on the ashes of Alameda, 3AC and Celsius. KXCO has real traders monitoring markets 24/7 not algorithms. The traders have a firm understanding of all financial markets, understand the crypto market behavior are most similar to penny stocks which we have a long history in, starting back in 1982.

You Might Also Like

Hotels as Art Galleries in Asia

125 Public Companies Now Hold Bitcoin

Ferrari Hypersail

Banking Apocalypse, Bitcoin’s Just the Beginning

Bitcoin at ATH, What Next?

TAGGED:FTXtrading

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Shayne Heffernan Ph.D.
Follow:
Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
Previous Article Our recommendation on Coinweb $CWEB is buy under .022 the FTX meltdown has rattled the market and now you can get Coinweb $CWEB under .020 that is a gift you should not ignore. Coinweb $CWEB a Gift under 0.02
Next Article Malta Week 2022’s AIBC Summit Malta Week 2022’s AIBC Summit
Buy Bitcoin

Buy Bitcoin

Latest News

Saint Francis of Assisi in Ecstasy Caravaggio c.1595
St. Francis: The Deeds You Do Today
Catholic Featured Headline News Lifestyle Lifestyles of the RIch and Famous Living Luxury Opinion Politics Shayne Heffernan July 11, 2025
Screenshot 26 6 2025 132527
Tokenization and the Future of Financial Markets
Bitcoin Blockchain DeFI Digital Assets Economy Headline News KXCO Politics USD July 11, 2025
photo 2025 03 03 07 22 06
InfoFi: The Latest Abomination in Crypto
Crypto Featured Headline News Shayne Heffernan on Investments July 10, 2025
czi0oawj8y561
Asia’s Growth Resilience Amid U.S. Tariffs
America Asia Asia Business Featured Headline News KXCO Politics USD July 10, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?