He was arraigned in federal court in Manhattan on January 3, 2023, and entered a plea of not guilty to all counts. Former FTX executive Ryan Salame pleaded guilty to both a campaign finance law violation. Judge Lewis A. Kaplan set the trial date for United States v. Bankman-Fried for October 2, 2023, saying he might move it “forward or backward a day or two.” Meanwhile, Gary Wang, co-founder of FTX, and Caroline Ellison, who had served as Alameda’s CEO, pleaded guilty to multiple charges and began cooperating with federal prosecutors.

6 billion that sent FTX into crisis. He also wrote that he expected FTT to be “highly volatile in the coming days as things develop”. On November 8, Zhao announced that Binance had entered into a non-binding agreement to purchase FTX due to what he referred to as a “liquidity crisis” at FTX. Zhao announced on Twitter that the company would complete due diligence soon, adding that all cryptocurrency exchanges should avoid using FTT tokens as collateral.

On November 14, Crypto.com’s CEO assured users that the exchange was functioning as normal. Concerns have also been raised about Silvergate Bank, as FTX was a depositor and could have also been a source of credit exposure. The firm had earlier begun preventing withdrawals. This halt caused Gemini, an exchange owned by the Winklevoss twins, to cease allowing redemptions for clients using a service provided through a partnership with Genesis.

Ai Crypto Trading Bot

Chernova, Yuliya (January 14, 2022). “Crypto Exchange FTX Sets Up $2 Billion Venture Fund”. The Wall Street Journal. Jacob, Paul Vigna and Denny (July 2022). “FTX Strikes Deal With Option to Buy Crypto Lender BlockFi for Up to $240 Million”. Browne, Ryan (January 31, 2022). “Cryptocurrency exchange FTX hits $32 billion valuation despite bear market fears”. Gariffo, Michael. “FTX’s new gaming division faces an uphill battle in convincing gamers to buy NFTs”. Rooney, Kate (July 1, 2022). “FTX signs a deal giving it the option to buy crypto lender BlockFi”. The Wall Street Journal. The Wall Street Journal. Scaggs, Alexandra (August 19, 2022). “About that deposit insurance”.

As of November 15, the messages all read “What HAPPENED”. In a court filing filed by FTX on May 8, 2024, FTX told that court that most FTX customers would get all their money back and a surplus would be left over. On November 17, John J. Ray III, the CEO brought in as a liquidator, stated in a sworn declaration submitted in bankruptcy court that, according to FTX’s records, its subsidiary Alameda Research had on September 30 lent $1 billion to Bankman-Fried and more than $500 million to FTX co-founder Nishad Singh. On November 15, FTX sought to raise $10 billion in liquidity from investors. On November 16, the Bahamas unit of FTX, FTX Digital Markets, officially filed for Chapter 15 bankruptcy protection in the United States.