In a shrewd financial maneuver, Dave Inc. secured FTX Ventures' convertible debt at a discounted rate of $71 million. The completion of the deal is subject to court approval, with stringent conditions to prevent alternative transactions. Dave Inc.'s CEO, Jason Wilk, expresses confidence in the move, while FTT, FTX's native cryptocurrency, sees a 15% surge. FTT is currently trading at $2.99.
Cheng YuanThis crypto exchange presents a self-custodial solution that incorporates a multiparty computation technique, ensuring the utmost security for entrusted funds.
KikyoReport Provides High-Level Overview of Control Failures by Previous Management Team Across Critical Functions
OthersJohn Ray III, CEO of FTX, testifies before US Bankruptcy Court on the chaos & lack of expertise in the company.
cryptopotatoIt's hard to overstate how much FTX embedded itself into the broader world. That could drive some of the response to its collapse.
CoindeskThe Financial Times has seen a copy of an FTX balance sheet showing that the bankrupt crypto exchange had only $900mn of assets it could easily sell.
Financial Times
Coinlive FTX is facing a liquidity crunch and has halted withdrawals. Binance is to the rescue, but things aren’t so simple.
NellCoinlive Both the major crypto exchange and its U.S. arm closed on separate $400 million funding rounds in January.
Cointelegraph