![]() ![]() Binance CEO Changpeng “CZ” Zhao said the decision to liquidate the exchange’s FTT position was based on risk management, following the collapse of the Terra (LUNA) crypto token earlier in 2022.ĬoinDesk. ![]() 6 that it would sell its entire position in FTT tokens-roughly 23 million FTT tokens valued at about $529 million. 22: Bankman-Fried is released on a $250 million bond, the largest in history, by a federal judge.īinance Says It Will Sell All Its FTT Tokensīinance, the world’s biggest crypto exchange, announced on Nov. 12: Bankman-Fried is arrested by Bahamian authorities. 18: The Bahamas takes control of FTX assets held there. 12: FTX reports an alleged hack, suspected to be up to $477 million, and moves its digital assets to cold storage for security reasons. FTX files for Chapter 11 bankruptcy protection. 11: Bankman-Fried steps down as FTX CEO, is replaced by a court-appointed CEO with restructuring experience. businesses’ liquidity crisis, says affiliate Alameda Research to wind down. 10: The Bahamas freezes assets of FTX’s subsidiary there Bankman-Fried admits non-U.S. 9: Binance walks away from FTX acquisition after conducting due diligence. 8: Binance says it will buy FTX’s non-U.S. 7: FTX announces liquidity crisis, seeks bailout from venture capitalists, then Binance. 6: Rival exchange Binance sells all FTT tokens. 2 scoop by crypto news site CoinDesk that revealed that Alameda Research, the quantitative trading firm also run by Bankman-Fried, held a position valued at $5 billion in FTT, the native token of FTX. 3, 2023.įTX’s collapse took place over a 10-day period in November 2022. He pleaded innocent to all criminal charges on Jan. FTX founder and ex-CEO Sam Bankman-Fried was arrested in The Bahamas and extradited to the United States in late December.In the hours following, FTX experienced a possible hack in which hundreds of millions worth of tokens were stolen.11, 2022, FTX’s CEO stepped down and the company filed for bankruptcy. ![]()
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