Key Points:
OKX examined if there had been any FTX-related transactions on its platform in the days leading up to FTX’s demise in November 2022. When these assets and accounts were identified to be related to FTX and Alameda Research, OKX took quick measures to freeze the relevant accounts and secure the assets.
The exchange said that it would continue to work with FTX debtors and law enforcement authorities in the expectation that these assets would be restored to FTX users via the bankruptcy process.
OKX is now one of the exchanges that are increasing its operations. OKX said its plans to create a new office in Australia in the coming months. The exchange also announced the foundation of a Hong Kong firm with the objective of developing virtual asset services in Hong Kong and applying for a virtual asset service provider (VASP) license.
As Coincu reported, FTX has requested the court not to allow Sam Bankman-Fried (SBF) to use the company’s $10 million insurance fund to cover his high legal bills. The Creditors Committee believes that any amount SBF is permitted to utilize in the insurance fund reduces the amount of money available to repay the loan. The move follows claims that Bankman-Fried is using a donation from Alameda Research to support his criminal legal defense.
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Harold
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