Browsing: FTX

The Biden administration announced on Jan. 27 that it will introduce a new cryptocurrency regulatory framework in the coming months to combat the numerous cryptocurrency scams that have plagued the crypto market over the past year, causing millions of dollars in losses.

Kevin O’Leary – a popular Canadian investor and host of the TV show Shark Tank – believes the unregulated cryptocurrency environment will cause the collapse of other companies. However, he remains a proponent of the industry, admitting that he invested 5% of his wealth in bitcoin.

The judge overseeing FTX’s bankruptcy proceedings has approved the sale of LedgerX and some of its assets by the embattled cryptocurrency exchange to aid in its creditor repayment efforts. Judge John Dorsey has approved the sale of four key units of FTX, according to a Delaware bankruptcy court filing.

According to a court filing, the US Department of Justice (DOJ) has, through a holding company, seized more than 55 million shares of Robinhood (HOOD) held by Sam Bankman-Fried and FTX co-founder Gary Wang. Based on HOOD’s closing price of $8.25 on Friday, these shares are worth just over $456 million.