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FTX Trading Ltd., commonly known as FTX (short for "Futures Exchange") is a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund. The exchange was founded in 2019 and, at its peak in July 2021, had over one million users and was the third-largest cryptocurrency exchange by volume. FTX is incorporated in Antigua and Barbuda and headquartered in the Bahamas. FTX is closely associated with FTX.US, a separate exchange available to US residents. Since 11 November 2022, FTX has been in Chapter 11 bankruptcy proceedings in the US court system. Public concern began when a November 2022 ''CoinDesk'' article stated that FTX's partner firm Alameda Research held a significant portion of its assets in FTX's native token (FTT). Following this revelation, rival exchange Binance's CEO Changpeng Zhao announced that Binance would sell its holdings of the token, which was quickly followed by a spike in customer withdrawals from FTX. FTX was unable to meet the dem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cryptocurrency
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities. Individual coin ownership records are stored in a digital ledger, which is a computerized database using strong cryptography to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. Despite their name, cryptocurrencies are not considered to be currencies in the traditional sense, and while varying treatments have been applied to them, including classification as commodities, securities, and currencies, cryptocurrencies are generally viewed as a disti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Bahamas
The Bahamas (), officially the Commonwealth of The Bahamas, is an island country within the Lucayan Archipelago of the West Indies in the North Atlantic. It takes up 97% of the Lucayan Archipelago's land area and is home to 88% of the archipelago's population. The archipelagic state consists of more than 3,000 islands, cays, and islets in the Atlantic Ocean, and is located north of Cuba and northwest of the island of Hispaniola (split between the Dominican Republic and Haiti) and the Turks and Caicos Islands, southeast of the U.S. state of Florida, and east of the Florida Keys. The capital is Nassau on the island of New Providence. The Royal Bahamas Defence Force describes The Bahamas' territory as encompassing of ocean space. The Bahama Islands were inhabited by the Lucayans, a branch of the Arawakan- speaking Taíno, for many centuries. Christopher Columbus was the first European to see the islands, making his first landfall in the "New World" in 1492 when he ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jane Street Capital
Jane Street Capital, typically referred to as Jane Street, is a global proprietary trading firm. Today, Jane Street Capital employs more than 2,000 people in five offices around the world, located in New York, London, Hong Kong, Amsterdam, Singapore. The firm trades a broad range of asset classes on more than 200 venues in 45 countries. The company is one of the world’s largest market-makers, trading more than $17 trillion worth of securities in 2020. It was considered to have helped keep bond exchange-traded funds (ETFs) liquid during the market turmoil in 2020. Founding Jane Street was co-founded by Tim Reynolds, Rob Granieri, Marc Gerstein, and Michael Jenkins. Jane Street's website says the firm was founded in 2000. However, Reynolds reports it to have been founded in 1999, although the date varies between sources. According to New York state records, Jane Street Group, LLC was registered with the Division of Corporations in May of 2005 as a foreign corporation with a fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caroline Ellison
Caroline Ellison (born 1994) is an American former business executive and quantitative trader. She is the former CEO of Alameda Research, the trading firm affiliated with the cryptocurrency exchange FTX. According to an anonymous source cited by the ''Wall Street Journal'' in November 2022, Alameda Research owed $10 billion to FTX. The source said FTX had lent the trading firm money from customer funds at FTX. Ellison was terminated from her position after FTX and Alameda filed for bankruptcy. In December 2022, Ellison pleaded guilty to two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering. Early life and education Ellison was born in Boston and grew up in nearby suburbs Cambridge and Newton. She is the eldest of three daughters of Glenn and Sara Fisher Ellison, both economics professors at MIT. She says she and her siblings were exposed to economics early, learning Bayesian ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Due Diligence Due diligence is the investigation or exercise of care that a reasonable business or person is normally expected to take before entering into an agreement or contract with another party or an act with a certain standard of care. It can be a legal obligation, but the term will more commonly apply to voluntary investigations. A common example of due diligence in various industries is the process through which a potential acquirer evaluates a target company or its assets for an acquisition. The theory behind due diligence holds that performing this type of investigation contributes significantly to informed decision making by enhancing the amount and quality of information available to decision makers and by ensuring that this information is systematically used to deliberate on the decision at hand and all its costs, benefits, and risks. Etymology The term “due diligence” means "required carefulness" or "reasonable care" in general usage, and has been used in |
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