cointelegraph.com
Open in
urlscan Pro
104.18.197.52
Public Scan
Submitted URL: https://email.analystratings.net/ls/click?upn=u001.7RjXfIT3OfAFKf43JSVGoXfl24Q28bAjC6OejcaQbb4MrT0ynz1K5Grjs2EGHeMLxmHwVB8gO0oL-2...
Effective URL: https://cointelegraph.com/news/ftx-bankruptcy-crypto-exchange-anniversary?utm_source=rss_feed&utm_medium=rss&utm_campaign=...
Submission: On November 18 via api from BE — Scanned from US
Effective URL: https://cointelegraph.com/news/ftx-bankruptcy-crypto-exchange-anniversary?utm_source=rss_feed&utm_medium=rss&utm_campaign=...
Submission: On November 18 via api from BE — Scanned from US
Form analysis
3 forms found in the DOM<form novalidate="novalidate" class="py-4 rounded-xl newsletter-subscription-form_k9oQq" data-ct-widget="newsletter-subscription-form">
<p class="!mt-0 text-xs font-semibold leading-4 text-fg-primaryDefault ps-4 pb-1 sm:text-sm newsletter-subscription-form-enjoy_uvMCq">Explore more articles like this</p>
<p class="!mt-0 text-base font-semibold leading-5 text-fg-inverted ps-4 pb-1 sm:text-lg newsletter-subscription-form-title_7jvjJ">Subscribe to the Markets Outlook newsletter</p>
<p class="!mt-0 text-xs leading-4 text-[#98A4AA] ps-4 pe-1 pb-3 newsletter-subscription-form-description_wtZv+">Get critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday</p>
<div class="flex me-3 newsletter-subscription-form-image_FGyNw">
<div class="relative self-end flex justify-end items-start w-20 sm:w-28 h-0 sm:h-28"><img src="https://s3.cointelegraph.com/storage/uploads/view/9eae0e798df83a1530d957f23cb4573e.svg" decoding="async" fetchpriority="high" loading="lazy"
class="absolute sm:static bottom-0 h-20 w-20 sm:w-28 sm:h-28" pinger-seen="true"></div>
</div>
<fieldset class="inline-flex px-4 flex-col gap-2 sm:gap-2 sm:flex-row sm:items-center newsletter-subscription-form-fieldset_FaYGX"><input placeholder="Email Address" name="email" type="email"
class="flex-grow py-2 ps-3 pe-2 outline-none border border-[#48575D] rounded-lg bg-bg-invertedStrong text-base text-white placeholder-[#66747C]g disabled:bg-transparent disabled:text-[#98A4AA] hover:outline-none newsletter-subscription-form-input_HCPZH focus:border-border-primaryMuted"><button
type="submit" class="flex items-center justify-center min-w-48 shrink-0 bg-fg-primaryDefault hover:bg-fg-primaryStrong dark:text-black rounded-lg px-4 py-2 text-uiMDefault gap-2 gap-none" data-ct-theme="dark"><!----><span
class="capitalize">Subscribe</span></button></fieldset>
<p class="!mt-2 mx-4 inline-flex text-[#98A4AA] text-xs newsletter-subscription-form-tos_lBW2V">By subscribing, you agree to our <a target="_blank" href="/terms-and-privacy">Terms of Services and Privacy Policy</a></p><!---->
</form>
<form novalidate="novalidate" data-testid="footer-subscription-form" class="footer-subscription-form mb-6 md:mb-8 mx-5 tablet:mx-0" data-v-ed1b37b6="">
<div class="footer-subscription-form__wrp" data-v-ed1b37b6=""><label for="footer-subscription-form-input" data-testid="footer-subscription-form-label" class="visually-hidden" data-v-ed1b37b6=""> Email Address </label><input
id="footer-subscription-form-input" type="email" placeholder="Email" data-testid="footer-subscription-form-input" value="" class="input footer-subscription-form__input" data-v-ed1b37b6=""><button type="submit"
data-testid="footer-subscribe-submit-button" class="btn footer-subscription-form__btn" data-v-ed1b37b6=""> Subscribe </button></div><!---->
</form>
<form autocomplete="off" data-testid="search-input-mobile-submit" class="container header-mobile-search-form" data-v-66e3094c=""><button type="submit" class="btn header-mobile-search-form__btn" data-v-66e3094c=""><span class="btn__wrp"
data-v-66e3094c=""><span class="btn header-mobile-search-form__magnifier-icon" data-v-66e3094c=""></span></span></button><label class="header-mobile-search-form__label" data-v-66e3094c=""><input placeholder="Search" type="text" name="query"
data-testid="search-input-mobile" autocomplete="off" autofocus="autofocus" value="" class="input header-mobile-search-form__input" data-v-66e3094c=""></label><button class="btn header-mobile-search-form__btn" data-v-66e3094c=""><span
class="btn__wrp" data-v-66e3094c=""><span class="btn header-mobile-search-form__cross-icon" data-v-66e3094c=""></span></span></button></form>
Text Content
$ BTC $90,771 +0.42% ETH $3,113 -0.01% BNB $626 +0.96% SOL $238 +9.00% XRP $1.09 -0.61% TON $5.32 -3.81% Ad * English * Advertise * About News Bitcoin Ethereum Altcoins Blockchain Business Policy & Regulations AI NFTs DeFi Adoption Markets Market News Market Analysis Top 10 Cryptocurrencies Calculator Heatmap Rankings Price Indices Memecoins Crypto Exchanges Magazine People Top 100 2023 Top 100 2022 Top 100 2021 Top 100 2020 Opinion Expert Take Interview Learn Research Crypto Bonus Podcasts Ad Turner Wright Nov 11, 2024 FTX FILED FOR BANKRUPTCY 2 YEARS AGO — WHAT’S HAPPENING NOW? The exchange’s creditors haven’t been made whole yet despite a judge approving a plan and sentencing for former executives is nearing an end. 7049 Total views 2 Total shares Listen to article 3:00 News COINTELEGRAPH IN YOUR SOCIAL FEED Follow ourSubscribe on * * * * * * * * On Nov. 11, 2022, then-FTX CEO Sam Bankman-Fried resigned, handing the company’s reins to John Ray, who filed for Chapter 11 bankruptcy protection in the United States. That day marked the beginning of the end for what was one of the world’s most prominent crypto exchanges. US authorities charged Bankman-Fried and four of his associates with fraud. FTX users and creditors saw billions of dollars worth of funds locked out of their reach in an exchange they weren’t sure would ever be able to repay them. Ray reported that the firm represented an “utter failure of corporate controls at every level of an organization,” later comparing its operations to a “dumpster fire.” In addition to FTX’s impact on millions of users and its employees, lawmakers and business leaders began using the crypto exchange as an example of the most egregious of illicit practices. The company declared bankruptcy amid a crypto market downturn that turned public opinion away from the industry as token prices crashed and companies filed for Chapter 11. Exactly two years after that fateful day at FTX, the price of Bitcoin BTC $90,771 has risen to an all-time high of more than $87,000. The US is still reeling from the results of an election in which many candidates were supported by crypto political action committees that sought to oust lawmakers working against their interests, spending about $134 million. ADVERTISEMENT EXPERIENCE THE MAGIC OF WAGMI MIAMI ON JAN. 21-24 – THE BIGGEST BLOCKCHAIN EVENT IN AMERICA – GET YOUR TICKETS NOW! Ad PRISON TIME AND REPAYMENTS FOR CUSTOMERS There have been consequences for Bankman-Fried and his crew. The former FTX CEO was convicted of seven felony counts and sentenced to 25 years in prison, though his legal team has filed an appeal. Out of the other former FTX and Alameda Research executives who pleaded guilty to charges, only one — engineering director Nishad Singh — was sentenced to time served for his role in the misuse of customer funds. Others, including Caroline Ellison and Ryan Salame, are expected to serve years behind bars. Gary Wang, one of the exchange’s co-founders, is scheduled to be sentenced on Nov. 20. Related: FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ In bankruptcy court, a federal judge approved a reorganization plan in October that may allow FTX’s debtors to repay 98% of users about 119% of their claimed account value. The scheme would reimburse the exchange’s customers for the value of their digital assets at the time of bankruptcy and not consider gains in the price of BTC and other tokens. FTX’s estate is still going after funds allegedly misappropriated by Bankman-Fried and others in political contributions, locked in accounts by other exchanges and through investment deals with firms like SkyBridge Capital. Former Alameda co-founder Sam Trabucco was forced to surrender $70 million, properties, and a yacht to the estate as part of a settlement with the debtors. Magazine: Can you trust crypto exchanges after the collapse of FTX? Explore more articles like this Subscribe to the Markets Outlook newsletter Get critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday Subscribe By subscribing, you agree to our Terms of Services and Privacy Policy * #Business * #Bankruptcy * #Court * #Crimes * #Sam Bankman-Fried * #FTX 2 1 1 1 1 1 1 Read more * Starknet will increase TPS 4X and reduce fees 5X within 3 months: CEO * ad Interoperability pushed to new heights on Polkadot with protocol launch * Trump policies could take DeFi, BTC staking mainstream — RedStone co-founder Ad Editor’s Choice * Senator Lummis says Treasury should convert gold for Bitcoin reserve * ‘DOGE’ could increase economic freedom in US — Coinbase CEO * Saylor doubts $60K Bitcoin retrace, BTC ETF options, and more: Hodler’s Digest, Nov. 10 – 16 * XRP price retreats 20% after hitting a multiyear high — Is the top in? * BTC price 'issues' include $70K dip despite Bitcoin whale accumulation Cointelegraph YouTube Subscribe Ad Ad Ad Advertise with us Ad Take back your safety in Web3 Web3 Antivirus does not endorse any content or product on this button. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions. News * Bitcoin * Blockchain * Ethereum * Altcoins * Business * Policy & Regulations * AI * NFTs * DeFi * Adoption Features * Top 100 2023 * Top 100 2022 * Top 100 2021 * Top 100 2020 * Magazine * Analysis * Opinion * Hodler’s Digest * Expert Take * Top 10 Cryptocurrencies * Market Analysis * Interview Market Tools * Market News * Bitcoin Price Index * Ethereum Price Index * Bitcoin Cash Price Index * Litecoin Price Index * Ripple Price Index * Monero Price Index * Memecoins * Heatmap Partner * Calculator * Solana RPC Learn * Learn * History of Crypto Industry * Research * Podcasts * Press Releases * Events * Cointelegraph Accelerator * Changelly Partner * Switchere Partner * iGaming About us * Franchise * Advertise * About * Widgets * Newsletters * Contacts Are you a journalist or an editor? Join us * * * * * * MOBILE APPS COINTELEGRAPH NEWSLETTER Email Address Subscribe Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money. FOLLOW US * * * * * * Terms of services and Privacy policy © Cointelegraph 2013 - 2024 Cointelegraph.com uses Cookies to ensure the best experience for you. Accept