The confusion over the FTX exchange is causing information chaos, in connection with its CEO Sam Bankman-Fried. A number of rumors are emerging that are difficult to verify. There are also some new facts. Here’s what we know.
Sam Bankman-Fried arrested!
This is by far one of the loudest rumors of recent days. Sifting through clues about the CEO of the FTX exchange, supports the creation of a certain narrative. Especially when it is accompanied by strong emotions. And undoubtedly there are such at the moment, as the disclosed actions of Bankman-Fried have generated a huge damage to the entire cryptocurrency market. Many investors have lost a huge amount of capital this way. Moreover, it is not clear whether this black swan is not just the first block, in a potentially imminent domino effect.
Thus, we learn that Sam Bankman-Fried was allegedly arrested at the Nassau airport. The Bahamian capital is where FTX has its headquarters. Meanwhile, online flight recorder Flightradar24 noted that the stock exchange CEO’s private jet had just taken a touchdown in Nassau after an earlier takeoff from Miami. These threads are easily linked. However, there is no evidence or any official confirmation of this information.
FTX employees are working to sell the company’s assets
In contrast, another anonymous source reports that FTX employees are working to sell assets owned by the exchange. These are said to include the Embed trading platform, as well as the naming rights to the FTX Arena in Miami.
It is also reported that a number of exchange employees have invested sizable savings in the Bankman-Fried venture. Anonymous sources report that he offered his team shares in the company he owned at a 50% discount. This was supposed to take place later this spring. Meanwhile, FTX employees are concerned that their funds are now held by Alameda Research. This, in turn, could make their recovery much more difficult.
The information is plentiful, but keep in mind that much of it is mostly unconfirmed rumor. Some are mere conjecture. Others, on the other hand, may be deliberate efforts to create even more panic.
Meanwhile, the facts
Amidst this unconfirmed information, there are also official announcements. Among them is the Securities Commission of The Bahamas (SCB). This government agency has confirmed that it has frozen FTX assets.
In addition, on Friday, November 11, it was reported that Sam Bankman-Fried, filed an official bankruptcy petition against FTX, FTX US, as well as Alameda Research.