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2022-11-14 15:14:01 Kraken freezes FTX and Alameda accounts, 'maintains full reserves'

Kraken has spoken with law enforcement regarding a handful of accounts owned by the bankrupt FTX Group, Alameda Research and their executives," the U.S.-based crypto exchange tweeted today, adding: "Those accounts have been frozen to protect their creditors. Kraken has frozen accounts owned by FTX Group, Alameda Research and their executives following their filing for Chapter 11 bankruptcy protection. Kraken's update comes after FTX and Alameda-related companies filed for Chapter 11 bankruptcy protection on Friday. FTX had previously approached Kraken — which claimed no exposure to Alameda Research but held almost 9,000 FTT tokens — about a potential rescue deal.

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2022-11-14 09:14:02 Huobi reports on asset transparency, totals $3.5 billion in hot and cold wallets

Huobi disclosed balance details of its hot and cold wallets, revealing a total value of about $3.5 billion. The Seychelles-based crypto exchange said it holds 32,000 bitcoins, 274,000 ether, 820 million tether and 9.7 billion tronix. Huobi’s report follows the high-profile collapse of crypto exchange FTX. Huobie — which was acquired by About Capital last month — said it is planning a Merkle tree audit to prove its reserves within the next 30 days. "It is also our promise and commitment that users' assets shall be protected intact, not appropriated, and fully redeemable and withdrawable," it added. On Friday, crypto exchange Bitfinex also published details of its reserves — which included $3.4 billion in bitcoin and $1.5 billion in ether.

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2022-11-14 03:14:00 Crypto.com accidentally transferred $400 million worth of ETH to another exchange, CEO says

Crypto.com mistakenly sent more than 320,000 ether ($400 million) to a rival crypto exchange called Gate on Oct. 21. This was revealed today after a Twitter user posted a screenshot inquiring why a large amount of ether had suddenly moved out of Crypto.com a few weeks ago. The firm’s CEO, Kris Marszalek, replied to the tweet, saying that the transfer was a result of human error. Marszalek said someone on his team had erroneously sent about 80% of the ether in their reserves to a "whitelisted exchange.” The funds had been scheduled to move to a new cold storage wallet, he said. We worked with the Gate team and the funds were subsequently returned to our cold storage," Marszalek said.

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2022-11-13 20:56:59 Wrapped tokens on Solana issued by FTX or Alameda collapsing, no longer redeemable

Wrapped tokens on Solana issued by FTX or Alameda Research are experiencing sharp declines after both entities filed for Chapter 11 bankruptcy protection.Wrapped ether on Sollet is only down 9% to $1,138 over the same time frame. Native ether is trading at $1,255. CoinGecko is displaying the same warning for soETH as for soBTC. Wrapping coins, such as bitcoin or ether, on Solana makes those assets available to use on the Solana blockchain — opening them up to usage in Solana's decentralized finance ecosystem. Many Solana-wrapped assets were custodied by FTX or Alameda, according to open-source portfolio tracker Rotkiapp's founder on Twitter, which added: "That means they are no longer redeemable and will probably go to 0.".

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2022-11-13 15:14:02 Alameda wallets seemingly being drained, according to on-chain data

FTX CEO Sam Bankman-Fried said earlier this week that Alameda would be wound down, following a stunning fall from grace for the once-mighty crypto exchange. Funds were seemingly being channelled out of Alameda wallets, with millions in tokens being redirected to one address this morning. Transactions to the wallet included 9.8 million wrapped XRP (around $3.6 million), about 6.8 million in the Render network token (around $3.4 million), about 3.4 million in xSUSHI (about $5.3 million) and 100 million in BitDAO's token (around $30 million), according to logs on block explorer Etherscan, as of 5:45 a.m. ET. Data also showed 11 million in the stablecoin Tether moved from crypto exchange Kucoin.

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2022-11-13 09:14:02 Over $400M worth of tokens FTX funds drained from company accounts

Crypto exchange FTX is seeing millions of dollars flow out of its exchange with early reports of some user account balances being completely empty. The wallet has acquired tens of millions of dollars worth of several types of tokens by draining FTX accounts, and began selling tokens that it received from FTX. FTX's general counsel Ryne Miller claimed the exchange is "investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges – unclear facts as other movements not clear. Will share more info as soon as we have it. FTX_Official.". Separately, Reuters is reporting that at least $1 billion in customer funds at the exchange disappeared last weekend, citing two former senior employees.

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2022-11-13 03:25:00 Miami to yank FTX name from iconic downtown stadium

Miami-Dade County said it would terminate its business relationship with FTX and remove the company's name on the iconic arena, home to the NBA's Miami Heat, just hours after the troubled crypto exchange filed for bankruptcy. has invested heavily in Miami and recently named the city as its national headquarters. Miami-Dade County and the Miami Heat are immediately taking action to terminate our business relationships with FTX, and we will be working together to find a new naming rights partner for the arena," Miami-Dade County Mayor Daniella Levine Cava and the Miami Heat said in a joint statement. "The reports about FTX and its affiliates are extremely disappointing. FTX Arena since a $135 million naming rights deal was announced and signed last year.

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2022-11-12 21:14:00 Pantera Capital's exposure to FTX is from its Blockfolio investment

FTX announced that it was facing a liquidity crunch earlier this week and that it would be acquired by rival exchange Binance. The deal with Binance fell through on Wednesday. On Thursday, FTX CEO Sam Bankman-Fried apologized and said that he would look to wind down trading at sister firm Alameda Research. FTX acquired the crypto data application Blockfolio in 2020 for $150 million. The FTX exposure from the Blockfolio investment is roughly 2% of the firm's total assets under management, said Franklin Bi, Pantera's director of portfolio development, on Twitter. The firm oversees $5.8 billion in assets, according to a recent investment adviser filing, Pantera is one of the oldest investment firms in the crypto industry, having been founded in 2013.

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2022-11-12 15:14:02 Polychain-backed DFX Finance hacked for $7.5 million

DFX Finance, a decentralized exchange protocol for fiat-pegged stablecoins, reported that it was attacked at 2:21 pm ET. An unknown attacker siphoned approximately $7.5 million from DFX, according to estimates from security researchers at BlockSec. The DFX Finance team acknowledged the security exploit and said it has paused all of its smart contracts to contain the issue. “We were notified of the suspicious activity within 20-30 mins of the first transaction and executed a pause on all DFX contracts within a few minutes after confirming the attack,” it said. The remaining portion of the stolen assets — about $3.2 million — was extracted by an MEV bot in a front-running transaction, also called a sandwich attack.

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2022-11-12 09:20:02 FTX faces SEC and CFTC investigation: Bloomberg

Crypto exchange FTX faces an investigation by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) into its mismanagement of customer funds and the firm’s relationships with FTX.US and Alameda Research. The SEC first began looking into FTX US’s crypto lending activities and operations months ago, Bloomberg first reported, citing anonymous sources. Now, the CTFC is getting involved with the SEC and investigating FTX in addition to FTX.US, looking into the relationships between the two exchanges and trading firm Alameda, Bloomberg reports. The FTX liquidity crisis has raised a concern and a call for more regulation.

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