Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Billy Markus, one of the two IT developers who created the original meme coin DOGE, has commented on the news that has emerged recently about plans to reestablish the FTX exchange to run it for all customers other than those based in the USA.
Earlier, it was reported that the administration currently running the bankrupt FTX exchange submitted a plan to relaunch the platform for offshore clients, making it closed to U.S. residents.
FTX’s latest restructuring plan points out that the Debtors may decide to establish in collaboration with third party investors a new company in a jurisdiction outside of the United States to operate a “rebooted” offshore platform like FTX2.0 which is not available to U.S.…
— Wu Blockchain (@WuBlockchain) August 1, 2023
According to a report by CoinDesk, the administration of the platform (or what is left of it) has suggested dividing the company's creditors into several tiers and proposed that one of those tiers can restart the exchange raising funds from investors outside of their circle.
The creditors are divided into "dotcom customers" (investors who are claiming refunds from FTX.com offshore exchange). The second group is called "US customers" — they are customers of the FTX exchange based in the U.S. They are followed by claimants of the NFT exchange, general unsecured claims, etc. The "dotcom" claimants may choose to put their assets together to launch an offshore crypto exchange, which will not service customers within the U.S.
why tho
— Shibetoshi Nakamoto (@BillyM2k) August 1, 2023
DOGE creator Bill Markus responded to a tweet with this news with a lazy "why though?" as if seeing this as pointless. When FTX exchange collapsed and founder Sam Bankman-Fried began apologizing on various media, admitting his mistakes, Markus poured heavy criticism on him on his Twitter page.
Yuri MolchanSBF might be linked to rugpulled BALD token
Data has also emerged that the founder of the FTX exchange who has been charged with defrauding his investors of billions of U.S. dollars, Sam Bankman-Fried, may be linked to the meme coin BALD that was launched just recently on Coinbase's Layer 2 blockchain Base.
Earlier today, BALD dropped 85% as a result of a rugpull, as the founder removed all of its liquidity. Prior to the price collapse, the token reached a market capitalization value of $85 million within merely 48 hours after launch.
As reported by U.Today, several crypto sleuths have found a connection between the BALD deployer contract and Alameda Research, a trading company that used to be owned by Sam Bankman-Fried before FTX collapsed along with Alameda and SBF went to prison.
Denys Serhiichuk
Dan Burgin
Alex Dovbnya
Vladislav Sopov