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Binance so far this year has committed $325 million to 67 projects, according to the article. A $200 million investment into Forbes and $500 million of financing towards Elon Musk's Twitter takeover remain on the table – those deals could take the spend to more than $1 billion for 2022.
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FTX has bid $1.4 billion for Voyager Digital’s assets, looking
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Huobi’s native token HT declined about 6% following Bankman-Fried’s tweet. Source
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Beleaguered crypto lender Voyager Digital Holdings says it has received a number of “higher and better” buy-out offers than that offered by AlamedaFTX back in July, contrary to the investment firm's continued public statements. The company has also just been cleared to return $270 million of customer funds held at the Metropolitan
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While FTX has extended millions of dollars to those companies, that hasn’t necessarily succeeded in bailing them out. BlockFi negotiated a deal where FTX could buy the company outright, and Voyager filed for bankruptcy earlier this month. When the Voyager deal came up during a panel discussion, Bankman-Fried laughed and
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According to Yusko, the FTX credit line proposal had a catch for BlockFi’s existing shareholders: It gave FTX the option to buy BlockFi “at essentially zero price.” If FTX were to exercise said option, it would effectively wipe out all of BlockFi’s existing equity shareholders, including management and employees with
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“Margin is there to protect against counterparty credit risk,” said Cunliffe, who has led international work on stablecoin standards. “If the transaction happens in a nanosecond, then you have a nanosecond’s worth of counterparty credit risk.” Source
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CoinDesk interviewed FTX's Brett Harrison at the World Economic Forum's annual meeting 2022 last week. Original Source
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During the discussion, the existing industry structure was defended as “quite adaptive” against volatile situations by Sean Downey, executive director for clearing, risk and capital policy at CME Group, the world’s leading derivatives exchange. Downey also criticized any new system that would lean on algorithms over capital cushions, arguing that
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