Ian Allison / CoinDesk:
Source: after looking at FTX’s data and loan commitments, Binance is highly likely to scrap its acquisition; FTX was turned down by Coinbase, OKX, and others — Backing out would be one more stunning development in the collapse of Sam Bankman-Fried’s crypto empire.
Ian Allison / CoinDesk:
A financial document details some ties between Sam Bankman-Fried’s FTX and Alameda Research; Alameda’s biggest asset is $3.66B of unlocked FTT, an FTX token — Alameda had $14.6 billion of assets as of June 30, according to a private document CoinDesk reviewed.
Andrew Rummer / The Block:
FTX’s Sam Bankman-Fried insists the exchange is “fine” after Binance begins selling FTX’s FTT; a recently leaked Alameda balance sheet showed $8B in liabilities — – FTX CEO Sam Bankman-Fried insisted his crypto exchange is “fine” after rival Binance announced it would start selling its holdings of FTX’s FTT token.
Helen Partz / Cointelegraph:
Hours after announcing an emergency deal with Binance, FTX CEO Sam Bankman-Fried deletes a Twitter thread saying the exchange and assets were “fine” — Sam Bankman-Fried has deleted a Twitter thread where he tried to assure customers that FTX and the assets on the platform were “fine.”
CNBC:
Sam Bankman-Fried agrees voluntarily to be extradited to the US, where he faces criminal and civil charges including conspiracy, fraud, and money laundering — – Sam Bankman-Fried is set to fly to the U.S., where he faces multiple criminal charges tied to the collapse of his crypto exchange FTX.
Wall Street Journal:
Sources: Sam Bankman-Fried has unsuccessfully continued to attempt to raise $8B to plug FTX’s shortfall, despite filing for bankruptcy and resigning as CEO — Alongside a few remaining employees, Mr. Bankman-Fried spent the weekend calling around in search of new commitments from investors
Divya Balji / Bloomberg:
Coinbase’s stock closes down 10.78% and Robinhood Markets closes down 19.04% as the Binance-FTX deal spotlights the challenges facing the $1T crypto industry — Robinhood Markets Inc. tumbled by the most in more than a year after Binance Holdings Ltd. agreed to acquire Sam Bankman-Fried’s …
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