Ftx hong kong 22-11101-JTD 11 FTX Hong Kong Ltd 11/11/2022 Dorsey 22-11102-JTD 11 FTX Japan K. The Liquidators of FTX Digital and the US Chapter 11 Debtors have agreed to a Global Settlement Agreement (“GSA”), which among other things, contemplates pooling of assets from both estates so as to allow FTX. In July 2019, FTX launched the FTT Exchange Token, a utility token “associated with a crypto trading platform” (SEC v Ellison, 2022 FTX Industrial Limited was incorporated on 13-NOV-2018 as a Private company limited by shares registered in Hong Kong. A Hong Kong court has ruled in favor of two investors who filed a civil suit against defunct Dubai-based cryptocurrency exchange JPEX and its affiliate Web 3. FTX was bankrupt less than two-weeks later. 23 +9. Hong Kong investment holdings company Sinohope, created by Huobi (HTX) exchange co-founder Leon Li, will recover more than 100% of its stuck deposits on the defunct crypto exchange FTX via its Cryptocurrency Derivatives Exchange. The digital assets derivatives exchange has packed up and is now headquartered in Nassau, The Bahamas, citing friendlier regulation and no mandatory quarantine upon Sam Bankman-Fried and Zixiao "Gary" Wang founded FTX in May 2019. One defendant, Deng Jun, lived in Nanchang. Sam Bankman-Fried said FTX is moving its HQ from Hong Kong to the Bahamas because of the Caribbean country's crypto framework. Her last position before joining FTX in October 2018 was with Alter Domus as Head of the Hong Kong office. With newly established regulations, crypto platforms in the region were obligated to abide by it or close shop. FTX began within Alameda Research, a trading firm founded by Bankman-Fried, Caroline Ellison, and other former employees of Jane Street in 2017, in Berkeley, California. Alameda Research was a cryptocurrency trading firm, co-founded in September 2017 by Sam Bankman-Fried and Tara MacAulay. But even for those making . Crypto. Genesis Block executives declined to comment. Moreover, Hong Kong, a major business hub, requires travelers to quarantine in a Debtor Name FTX Hong Kong Ltd Petition Date November 11, 2022 Case Number 22-11102 Debtor Name FTX Japan K. This Consent to Process Personal Data (the “Consent”) applies to FTX Trading LTD, together with any of its non-debtor affiliates that determine, whether alone or jointly with another, the purposes and means of the processing of personal data under applicable laws (collectively, “FTX). 56°. [33] [34] Bankman-Fried was included on the 2021 list of Forbes 30 Under 30 [35] but was also included on Forbes 2023 Hall of Shame list, featuring ten picks the publication wishes it could take back. Hong Kong’s Yuxing Technology Acquires 78. FTX is an abbreviation of "Futures Exchange". This switch was central to the Bahamas In September 2021, Bankman-Fried and the entire senior staff of FTX moved from Hong Kong to the Bahamas. 0 Technical Support. Support. The FTX OTC desk was powered by Alameda and SBF was the CEO of both businesses. The battle to recover $157. Focus on regtech Following on its development of a regtech adoption roadmap in H2 2020, the Hong Kong AAX’s problems have been linked to FTX, where the company held some of its money, but troubles at the Hong Kong-based firm began even before FTX’s US bankruptcy filing on November 11 FTX moved its headquarters from Hong Kong to the Bahamas in September 2021, citing the favorable regulatory environment. Nov 11, 2022 1 Petition Chapter 11 Voluntary Petition . FTX Hong Kong Ltd. S. Cryptocurrency Derivatives Exchange. Universite du Luxembourg - Faculty of Law, Economics and Finance; European Banking Institute Ross P. 86 km) distance between both points in a bearing of 76. 3M. 56° and the compass direction is ENE. HONG KONG/SINGAPORE/LONDON (Reuters) - FTX was engulfed in more chaos on Saturday when the crypto exchange said it had detected unauthorized access and analysts said hundreds of millions of FTX and its affiliates face at least 100,000 creditors but that number could rise one based in the Bahamas office and the second in Hong Kong, to oversee the unwinding of FTX Digital Markets Ahead of last FinTech Week, Hong Kong announced to great fanfare an effort to become a virtual asset hub. 85 million Hong Kong dollars (around $238,000) will be recovered on Hong Kong played an important role in the early development of the crypto industry by drawing once-influential exchanges like FTX and Bitmex to set up shops there. FTX said in a Thursday filing that Michael Burgess, Kevin Nguyen, Darren Wong and Matthew Burgess — former employees at Salameda, a Hong Kong-based FTX affiliate controlled by Sam Bankman-Fried — along with Lesley Burgess and two other FTX-related firms had preferentially or fraudulently withdrew assets from FTX prior to the bankruptcy After the FTX bankruptcy, it was vital to incorporate virtual assets into the regulatory system, according to Julia Leung Fung-yee, chief of Hong Kong's Securities and Futures Commission. 4 BTC due to FTX and is still pending compensation Crypto 7x24 2024-12-23 14:14:06 It is just after midnight in Hong Kong, FTX, Binance and BitMEX’s founders have each argued that only a small share of their customers actually use high leverage. A sketch of Caroline Ellison testifying in Manhattan federal court, Filed by FTX Hong Kong Ltd. 5 billion thanks to FTX, a Hong-Kong based futures exchange he founded that allows users to buy and sell cryptocurrencies, Bankman-Fried plans to donate most of his wealth to Hong Kong Bitcoin ETF Launch On 16 December 2022, Hong Kong launched its first two futures-backed exchange traded funds. Distance: 6,755. 1 million worth of FTX spent $1 million removing one doorway and adding another when it was headquartered in Hong Kong, according to an excerpt from Michael Lewis' upcoming biography shared by The Times of London Hong Kong’s de facto central bank said that the collapse of FTX has shown that sound regulations are a must for the city’s pursuit of becoming a virtual asset hub and that a planned new FTX was relocated from Hong Kong to the Bahamas in 2021 due to regulatory uncertainty. FTX founder and CEO Ex-FTX COO Constance Wang Joins Crypto Fund Sino Global Matthew Graham, Sino Global’s founder and CEO, was a close associate of Sam Bankman-Fried during FTX’s rise. Ripple Releases $1 Billion in Tokens on New Year’s Eve, Mysterious Trump Memo Raises Eyebrows. The date of annual examination for this private company limited is between Nov 13 and Dec 24 upon the anniversary of incorporation. 818-252-9950 9-5 PST. <br><br>I am part of PwC's China restructuring team, based in Hong Kong, as well as restructuring leader for PwC in Asia Pac, with responsibility for The initial bearing on the course from FTX to Hong-Kong is 76. he now calls his Hong Kong apartment his home and drew Hong Kong’s Securities and Futures Commission (SFC) has put up guard rails for retail investors but we still lack a cohesive education and protection ecosystem to underpin the regulation. 10% against the Hong Kong Dollar (HKD). The University of Hong Kong; The University of Hong Kong - Faculty of Law. 3 million. one, which raised $10bn this year, have grown at a rapid pace from their Hong Kong homes, backed by the same The FTX employees who left the Bahamas moved out of the Albany Resort, the gated community where they lived, people familiar with the matter said. Midpoint: 16. The Petition states funds will be available to Unsecured Creditors. FTX moved its headquarters from Hong Kong to The Bahamas last year, with former CEO Sam Bankman-Fried hailing it as “one of the few places to set up a comprehensive framework for crypto” at FILE - An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong, on Feb. The FTX case once again highlights the increasingly urgent and important need to put in place sensible regulations for cryptocurrency in the world’s major financial markets. University of Hong Kong Crypto groups such as FTX Trading, valued at $18bn, and blockchain start-up Block. With the judge’s ruling, 1. In the same month, FTX moved its headquarters from Hong Kong to the Bahamas. ” FTX moved its headquarters from Hong Kong to The Bahamas last year, with former CEO Sam Bankman-Fried hailing it as “one of the few places to set up a comprehensive framework for crypto” at Caroline Ellison told staff at meeting in Hong Kong office that the FTX founder authorised raid on exchange customers’ money. Hong Kong-run cryptocurrency trading firm Auros said it has entered into a liquidation process after struggling to pay creditors as fallout from the implosion of FTX last month continues to Defunct cryptocurrency exchange FTX filed a lawsuit on Sept. Explore Our Complimentary Monogramming Service. CoinDesk Market Index (CMI) 855. In late September 2023, the Securities and Futures Commission (SFC) accused crypto exchange JPEX of suspicious activity, having initially flagged the company in FTX Digital Holdings (Singapore) Pte Ltd 22-11118 N/A FTX EMEA Ltd. Friday, September 01, 2023: 8 8 misc Amended Schedules/Statements - Jointly Administered Entity Fri 09/01 1:10 PM Amended Schedules/Statements - Jointly Administered Entity filed: , Stmt of Financial Affairs,. 22-11101 in the U. 1% Ethereum (ETH Debtor Name FTX Hong Kong Ltd Petition Date November 11, 2022 Case Number 22-11102 Debtor Name FTX Japan K. Such a 😲 FTX has accused former employees of Salameda, an affiliate of FTX Group, of fraudulent transfer of FTX funds. While company executives set up residences in the glitzy Albany gated Surveillance Coins and Hong Kong’s Pivot to Post-FTX Crypto. After this revelation, FTX began to It is a subsidiary of FTX, a Hong Kong-based cryptocurrency derivatives platform registered in Antigua. Petition Date November 11, 2022 Case Number 22-11103 Debtor Name FTX Japan Services KK FTX was born. Hong Kong’s Financial Secretary didn’t take offense at FTX’s collapse. W hen FTX moved from Hong Kong to The Bahamas in the fall of 2021, many Bahamians hoped that the crypto exchange’s presence would transform the island. (Brown, Kimberly) Hong Kong’s undertaking for cryptocurrencies challenges Singapore’s endeavours as Asia’s virtual asset hub. The people declined to be identified because they were not authorised to speak to the press. 5 but it may have color correction and The sorry saga may prove an inflection point that results in investors demanding that cryptocurrency exchanges be headquartered in well-regulated jurisdictions with good governance – like Hong Kong. Collectively, the two funds raised almost USD $79 million on their debut on A responsible and inquisitive individual with a lifelong commitment to capitalise on his · Experience: FTX · Education: King's College London · Location: Hong Kong SAR · 105 connections on LinkedIn. Along with two related companies, the named individuals—Michael Burgess, Matthew Burgess, Lesley Burgess, Kevin Nguyen, and Major players seek regulatory approval in Hong Kong. A hire from Bankman-Fried’s Hong Kong days; The full owner of an FTX subsidiary; Jen Chan was the chief financial officer of FTX – and perhaps the only direct report to Sam Bankman-Fried who The leading mobile operator, offers strongest 5G network & various services - 5G/4. At his peak, Bankman-Fried was worth $26 billion and ran FTX One month on from the collapse of former cryptocurrency exchange FTX, institutional investors in Hong Kong remain reluctant to speak out about the collateral damage of the incident as the industry FTX was a recent arrival to the Bahamas, one of the wealthiest Caribbean countries, setting up there just over a year ago after moving from Hong Kong. Wednesday, April 24, 2024 3:10 AM UTC Related Stories Nothing Phone 3 Leak Surfaces; Data Breach Compromises User Data; Rivian's Earth Day Special Managing Director, Strategic Markets · I drive global expansion, scale retail markets, and build international teams. This year was all Moreover, Hong Kong, a major business hub, requires travelers to quarantine in a hotel for as many as three weeks. Days after the implosion of FTX, which was founded in Hong Kong in 2019 but left for the Bahamas in 2021, the city's Securities and Futures Commission (SFC) said that it considered Hong Kong fund FTX, the bankrupt cryptocurrency exchange, has initiated a lawsuit against former employees of its Hong Kong affiliate, Salameda, aiming to retrieve over $157 million that was fraudulently acquired by these individuals. Crypto derivative platform, FTX took another route and decided to Bankrupt crypto exchange FTX has sued former employees of its Hong Kong-affiliated company, seeking to recover $157. 4500 Park Granada Blvd, Suite 202, Calabasas, CA 91302 On November 11, 2022 (the "Petition Date") FTX Hong Kong Ltd filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. Most of the named Chinese defendants lived in Nanchang, the Jiangxi capital. 4bn (US$180mn) fraud. Its Hong Kong office was raided earlier this month, trapping millions worth of investors’ crypto. For one, it’s still not clear who runs it. But they were not in the Bahamas, the scene of 全球第二大的虛擬貨幣交易所FTX申請破產保護，《香港01》發現，FTX今年在香港動作頻頻，註冊本港子公司，綽號「薯條哥」的創辦人Sam Bankman-Fried（SBF）出任董事，更報住灣仔服務式住宅。 香港子公司的董 FTX no longer calls Hong Kong home. ” FTX was forced to file for bankruptcy after an avalanche of customer withdrawals created an $8 billion hole on the firm’s balance sheet. View Louis KP Ng’s profile on LinkedIn, a professional community of 1 billion members. Move comes amid a global crackdown on cryptocurrencies; Exchange seeks ‘close working relationship’ with regulators The rise and fall of FTX's Sam Bankman-Fried, the onetime crypto billionaire who was sentenced to 25 years in prison In 2018, he abruptly moved Alameda's team to Hong Kong, after realizing how As Crypto Reels From FTX Fallout, Hong Kong Reasserts Desire To Be a Hub for the Industry 2 minute read An advertisement of cryptocurrency Bitcoin is displayed on a building in Hong Kong, on Nov Hong Kong’s efforts to build a digital-assets industry and cryptocurrency hub to rival Singapore is not expected to be set back by the collapse of crypto exchange FTX, which filed for bankruptcy What is the price trend of FTX in HKD? Over the last month, the price of FTX (FTT) has gone up by 58. The company now manages over $100 million in digital assets. 69 mi (5,435. Petition Date November 11, 2022 Case Number 22-11103 Debtor Name FTX Japan Services KK Insights: The FTX debacle may alter Hong Kong's approach to regulating cryptocurrencies. What first appeared to be an accounting oversight turned out to be major fraud, and billions of dollars were lost by customers and investors. Sam Bankman-Fried watched from Hong Kong as a global He parlayed that success into the creation of FTX, which was based in Hong Kong before relocating to the Bahamas last year. and Kirkwood, Jamieson, The Financialization of Crypto: Lessons from FTX and the Crypto Winter of 2022-2023 (March 1, 2023). [4]That same month, anonymous sources told The Wall Street Journal Monday, 20 October 2025 Four Seasons Hotel Hong Kong, Finance Street, Central, Hong Kong. Dirk A. But the city’s new enthusiasm comes amid contagion worries surrounding the collapse of trading platform FTX, which galvanises traditional regulatory support for new digital money. com, Genesis, Galaxy Digital, Nickel Digital and Vauld all have exposure to FTX. The filing alleges Michael Burgess In this May 11, 2021, file photo, Sam Bankman-Fried, co-founder and chief executive officer of FTX, is shown in Hong Kong. 1 1. The firm’s large-scale trades made Bankman-Fried a self In September, crypto unicorn FTX announced that it had relocated its headquarters from Hong Kong to the Bahamas. Alameda’s need for funds to run its trading business appeared to be a big reason for FTX’s existence. Experience beyond expectation. The Hong Kong Monetary Authority (HKMA) has released crypto Welcome to FTX Tactical LLC You can WIN a K19 Ranger Green plate carrier with accessories! For each $10 purchase from our website between now and 12/31/2024 you will get one entry into the drawing. In financial presentations to investors, the company claimed key takeaways. 21 against former employees of the Hong Kong-incorporated company Salameda, which was previously affiliated with the FTX group A Hong Kong cryptocurrency exchange has become the latest casualty of FTX’s collapse this month, leaving thousands of investors and clients in limbo and revealing the city’s exposure to a On November 11, 2022 FTX Hong Kong Ltd filed for chapter 11 protection in the District of Delaware (Case No. Bankman-Fried was lobbying Washington on behalf of the crypto FTX Digital was the main regulated and licensed entity for the FTX International Platform. In fact, HairyPlotterFTX has underperformed against the broader crypto market, which is down by -1. 72 km) FTX, one of the world’s largest trading platforms for digital asset futures, moved its headquarters from Hong Kong to the Bahamas the day after China announced its crackdown. [77] Authorities in the Bahamas, Further, the spokesman remarked that FTX is not registered with the SFC, which is required for FTX to operate as an exchange for digital assets in Hong Kong. FTT provided holders with a discount on trading fees and OTC rebates, with FTX buying back and ‘burning’ FTT tokens based on FTX profitability – reducing supply hence increasing token price. FTX, Hong Kong Police Force (HKPF), JPEX, Securities Victims win first civil action against the FTX of Hong Kong A Hong Kong court has ruled in favor of two investors who filed a civil suit against defunct Dubai-based cryptocurrency exchange JPEX and its affiliate, Web 3. The Debtor's case was assigned case no. Among the measures needed is the While contagion from FTX’s collapse spread and affected some Hong Kong-based cryptocurrency platforms, Hong Kong regulators said that Hong Kong investors’ exposure to the incident was Over the last month, the price of HairyPlotterFTX (FTX) has gone down by -26. Many still have housing in Hong Kong, where FTX had its headquarters until 2021, since the company covered most of their living expenses at their Bahamas resort. 37 mi (10,871. At Sam Bankman-Fried’s 29th birthday in March last year, his closest colleagues and friends dressed up in curly wigs mimicking his trademark style. (Landis, Adam) (Entered: 11/11/2022) Nov 11, 2022 2 Photos & icons credit to: Kiranshastry surang Pixel perfect monkik Flat Icons Freepik Skyclick Wichai. 17, 2022. 1% Bitcoin (BTC) $16,790 +190. The Hong Kong-based cryptocurrency exchange says the market turmoil from the FTX fallout is the final cause of ceasing operations following a year of winding down services. Several venture investors in Hong Kong have been exposed to the collapse of cryptocurrency exchange FTX, including Blue Pool Capital, the family office of Alibaba Group Holding ’s co-founder Joe Hong Kong was one such region that began overseeing its crypto scene. 20%. Pricing. Many early adopters in the cryptocurrency community still have strong emotional ties to Hong Kong. | TUMI Hong Kong Official Website Victims win first civil action against the FTX of Hong Kong. (Landis, Adam) (Entered: 11/11/2022) Ask a Question. In this action, the FTX receivers are seeking to recover funds allegedly laundered by the defendants and prevent them from claiming them. The sudden collapse of cryptocurrency exchange FTX, which moved its headquarters from Hong Kong to The Bahamas last year, offers a cautionary tale for the city’s ambition to build a digital Restructuring Partner at PwC Hong Kong · I am a partner in PwC's global restructuring practice with 33 years (and counting!) of corporate restructuring experience across a range of industries and jurisdictions. Hong Kong might be taking lessons from the FTX collapse to safeguard domestic investor interests. Bankman-Fried built his base of operations, and the exchange took off. FTX launched it’s own token, “FTT”. Jen is armed with over a decade of executive management experiences in global financial institutions such as Deutsche Bank, BlackStone, KPMG and Alter Domus. Bankrupt crypto exchange FTX has filed a lawsuit against four former employees of Salameda, a Hong-Kong-based affiliate believed to have been under the direct control of the crypto exchange's former CEO, Sam Bankman-Fried. 2 1. Jen graduated from Hong Kong University of Science and Technology with a Bachelor The 31-year-old mogul started his first company in the San Francisco Bay Area, before moving to Hong Kong and then to the Bahamas, where his FTX cryptocurrency exchange was based until it filed A broad list of potential creditors to collapsed cryptocurrency exchange FTX includes more than 50 Hong Kong entities, with two government bodies that regulate virtual assets, in a display of the Dubai-based JPEX was founded in 2019 and operational in Hong Kong since July 2020. Macroscope | FTX crash: Why Hong Kong’s crypto hub ambition makes good sense. In fact, FTX has outperformed against the broader crypto market, which is down by 20. Filed by FTX Hong Kong Ltd. com customers (“Dotcom Customers”) to receive the same recoveries. It moved from Hong Kong to the Bahamas, where Mr. Recent Business Bankruptcy Cases. Its collapse has been compared to FTX, but the unravelling of JPEX in Hong Kong has several key differences. 22-11145 N/A FTX Equity Record Holdings Ltd 22-11099 N/A FTX Europe AG 22-11075 N/A FTX Exchange FZE 22-11100 N/A FTX Hong Kong Ltd 22-11101 N/A FTX Japan Holdings K. The Debtor is being represented by The Law Firm Landis Rath & Cobb LLP (the FTX Hong Kong is one of the 134 FTX-affiliated companies that filed for Chapter 11 bankruptcy protection last week. FTX says most customers will be fully repaid, less than 2 years after collapse. Bitcoin slumped to a two-year low, Wednesday, Nov. That cuts into FTX's ability to move quickly as it expands its reach and forges new partnerships. Crypto exchange FTX has filed lawsuits against former employees of Salameda Ltd, a Hong Kong affiliate of the FTX — Sunil (FTX Creditor Champion) (@sunil_trades) January 1, 2025. Legal. Prices. 45848,62. The Hong Kong City Times scenery shows the real environment of Hong Kong today It shows the side of Hong Kong in the new era therefore the old Kai Tak Airport is not included instead it includes the modern new Orbx FTX global, vector, buildings HD, WF VHHH, Taxi2gate VHHH It is compatible with P3Dv4. 1 million New Huo Technology, a Hong Kong-listed digital asset services provider controlled by Chinese crypto tycoon Leon Li, said on Monday that it failed to withdraw $18. K. “The Bahamas begins its rise as the next HONG KONG, Nov 18 (Reuters) - A leading cryptocurrency retail service provider in Hong Kong said it has ceased trading as the broader fallout from the collapse of FTX, and solvency issues at other Back then, Hong Kong was the home of influential cryptocurrency exchanges like BitMEX and FTX. The Hong Kong firm was controlled by the FTX Founder and former CEO, Sam Bankman-Fried, who is now behind bars awaiting trial. 22-11074 N/A FTX Japan Services KK 22-11103 N/A FTX Lend Inc. 11/11/2022 Dorsey 22-11103-JTD 11 FTX Japan Services KK 11/11/2022 Dorsey A high-risk legal showdown recently emerged pitting the now-bankrupt crypto exchange FTX against former employees of its Hong Kong affiliate. Even as Hong Kong’s crypto communities move on from the demise of global crypto exchange FTX, those dealing in digital assets are grappling with a crisis of confidence closer to home. The geographic midpoint between FTX and Hong-Kong is in 3,377. 3 million, according to a Coindesk report. . Free Shipping & Returns. wi Dave Gandy Freepik Payungkead Payungkead surang Austin Distel FTX Hong Kong is one of the about 130 FTX-affiliated companies backed by Sam Bankman-Fried that have filed Chapter 11 bankrupcy proceedings in the United States. Bankman-Fried founded FTX in 2019 in Hong Kong, relocating to a more friendly regulatory environment, The Bahamas, two years later. Bankruptcy Court Delaware District (the "Bankruptcy Court") Delaware division office. Neal Kimberley. 3 million, according to a court filing late Thursday. (AP Photo/Kin Cheung, File) FTX also does the bulk of its exchange volume from crypto derivatives, rather than mere spot trading, making Hong Kong a less-than-desirable location for a base of operations. November FTX's in-house legal and compliance teams had, for the most part, resigned by 10 November. Petition Date November 11, 2022 Case Number 22-11103 Debtor Name FTX Japan Services KK But that number could get "a lot bigger" depending on the outcome of a fundraising round that he says will sharply increase the valuation of FTX, the Hong-Kong based crypto derivative exchange he The remaining operations of FTX and Alameda in Hong Kong after they relocated are giving local regulators a chance to prove they were right. 85 million Hong Kong dollars (around $238,000) will be recovered on behalf of Bankrupt crypto exchange FTX has sued former employees of Salameda, a Hong Kong-incorporated entity affiliated with FTX that it says was controlled by the firm's ex-CEO, Sam Bankman-Fried, to recover about $157. Instead, he highlighted the importance of maintaining safety and properly managing risks. Changpeng Zhao of Binance purchased a 20% stake in FTX for approximately $100 million, six mo Hong Kong’s top finance official has reiterated the city’s commitment to becoming a virtual asset hub, saying in a blog post that industry regulation is even more attractive to Customers of bankrupt cryptocurrency exchange FTX Trading could have to wait years to get their money back, while many may never recover the funds, experts said. Bankman-Fired also confirmed last week that FTX is planning to launch its own stablecoin. What does it really want? FTX first high-profile business to quit Hong Kong over quarantine rules Currently Hong Kong makes those arriving in the territory from the United States, the UK, and most of Europe quarantine for 21 days regardless of vaccination status. Fee Amount $1738. jpg. FTX, which used to be the second largest cryptocurrency exchange and process tens of billions of dollars daily, collapsed in a snap. January 2, 2025. Cookie Policy. Zetzsche. Filing Date. Lightspeed Hong Kong has emerged largely unscathed from the collapse of FTX, according to market experts, after the bankrupt cryptocurrency exchange left tens of billions of dollars in liabilities and became Debtor Name FTX Hong Kong Ltd Petition Date November 11, 2022 Case Number 22-11102 Debtor Name FTX Japan K. The FTX CEO indicated the move isn't related to China's declaration Li Lin, the founder of crypto exchange Huobi Global, is lending up to $14 million to a Hong Kong company he controls after FTX's sudden bankruptcy prevented the firm from accessing $18. Bankman-Fried told Reuters that he was still in the Bahamas, [76] though other high-ranking FTX employees had begun leaving for Hong Kong, the location of the company's former headquarters, or other locations. 22-11101). The JPEX event – possibly the largest Hong Kong-based cash-for-crypto shop Genesis Block, which was part-owned by FTX offshoot Alameda Ventures, last month shut down its trading portal and stopped accepting deposits. Read more on DailyCoin. The other feigned freedom and delivered a police state. 22-11167 N/A Currently worth US$22. [2] [3] In November 2022, FTX, Alameda's sister cryptocurrency exchange, experienced a solvency crisis, and both FTX and Alameda filed for Chapter 11 bankruptcy. Speaking in an interview with Web3 Bankman-Fried’s Crypto Exchange FTX Leaves Hong Kong for Bahamas. 41478. Hong Kong Business offers comprehensive coverage of breaking news and issues. Image Mr. One promised freedom and delivered fraud. Bankrupt crypto exchange FTX has sued former employees of Salameda, a Hong Kong-incorporated entity affiliated with FTX that it says was controlled by the firm's ex-CEO, Sam Bankman-Fried, to TUMI Hong Kong offers modern and durable FTX Ballistic Nylon bags online. Bankrupt crypto exchange FTX has sued former employees of Salameda, a Hong Kong-incorporated entity affiliated with FTX that it says was controlled by the firm's ex-CEO, Hong Kong has emerged largely unscathed from the collapse of FTX, according to market experts, after the bankrupt cryptocurrency exchange left tens of billions of dollars in Hong Kong’s latest regulatory turnover has caused an array of platforms to flee from the region. The exchange was FTX, the failed cryptocurrency exchange founded by Sam Bankman-Fried, has taken legal action by filing a lawsuit against four former employees of Salameda, a Hong Kong-based affiliate closely The bankrupt crypto exchange FTX has sued the former employees of Salameda, a Hong Kong-incorporated entity affiliated with FTX, for the recovery of about $157. Genesis Block HK is the latest firm to suffer from FTX fallout. Explore all events Useful links. 3 million in allegedly preferentially or fraudulently transferred assets has taken center stage, shedding light on an intricate web of crypto litigation and legal maneuvering. Genesis Block was an over-the-counter (OTC) trading desk in Hong Kong that was deeply integrated with Alameda Research and FTX, serving as a way for people to convert bags full of fiat to cryptocurrency and vice Hong Kong-based crypto services firm Genesis Block said on Friday it would cease over-the-counter (OTC) trading services in wake of contagion risks from the now-bankrupt FTX exchange, according to Hong Kong is legalising retail cryptocurrency trading just as the FTX scandal has shaken investor confidence, underscoring the need for industry regulation. 5G plans, 5G broadband, roaming, VAS & SoSIM. Bloomberg via Getty Images, FILE. · Experience: OKX · Education: Shatin College · Location: Hong Kong · 500+ connections on Bankman-Fried launched a crypto-trading firm called Alameda Research in 2017. The bankrupt crypto exchange intends to recover from persons or entities all assets received during the preference period. Prominent cryptocurrency exchange, FTX was the latest to move away. After a move from Hong Kong to the Bahamas, SBF built his base of operations (Stevenson et al, 2022). However, Hong Kong's pension system primarily revolves around the Mandatory Provident Fund (MPF) scheme. Sam Bankman-Fried’s FTX was founded in the city, and Hong Kong was also the location of cryptocurrency group JPEX, which has been accused of committing a HK$1. 9, and other digital assets sold off following the sudden collapse of crypto exchange FTX Trading, which has been forced to sell itself to larger rival Binance. FTX’s creditors will be first in line to receive whatever The remaining operations of FTX and Alameda in Hong Kong after they relocated are giving local regulators a chance to prove they were right. | TUMI Hong Kong Official Website Hong Kong Business - FTX - Latest FTX News, Analysis, Profit Results, Share Price Information, and Commentary. 15 Nov 2022 - 10:00PM. FTX cited friendlier regulations and looser Covid-19 restrictions as reasons for its move from Hong Kong to the Bahamas; The island nation has pushed the pace for the development of sophisticated digital asset regulatory Hong Kong police exhibit evidence collected from 20 locations related to an investigation into crypto exchange JPEX, on September 19, 2023. FTX, which is domiciled in Antigua and has its main office in Hong Kong, has begun expanding its footprint in the US, though it bars Americans from trading on its main derivatives exchange due to FTX Hong Kong及Salameda的註冊地址，均為上環商廈的秘書公司。Cottonwood Grove Limited的註冊地址，則在11月1日改到灣仔駱克道333號42樓，惟現場烏燈黑火，未見有人辦工，門前及大廈水牌亦無公司名稱。 TUMI Hong Kong offers modern and durable FTX Ballistic Nylon backpacks online. As cryptocurrency reels from the FTX debacle, a floundering Hong Kong is looking to make itself the center of the digital asset industry’s latest renaissance. hong-kong-crypto-regulation-ftx-claims-surge. My role focuses on enhancing our global presence and meeting diverse market needs through strategic growth, innovation, and leadership in the cryptocurrency industry. 60% . FTX was founded in May 2019 by co-founders Sam Bankman-Fried and Gary Wang; however, due to regulatory scrutiny, FTX was prompted to establish a subsidiary for residents of the United States. High-profile investors of FTX, including Temasek, Paradigm and Sequoia Capital The Hong Kong Securities and Futures Commission and Hong Kong Monetary Authority were named as FTX creditors alongside various government agencies from around the world. It's company registration number is: 2765156. 2 Bitcoin for $6. It was discovered that customer funds went to accounts controlled by Alameda Research -- a cryptocurrency trading firm headquartered in Hong Kong -- instead of FTX. Implemented since 2000, this scheme aims to provide retirement protection for the A pair of Hong Kong ETFs investing in Bitcoin and Ether futures raised $79 million as the city pushes ahead with a plan to become a crypto hub even as the sector globally reels from the FTX Shide Global, a Hong Kong-listed company, agrees with the Bitcoin reserve strategy and has lost 23.
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