#ftx blockfolio

[bitcoinworldd]

Comparing Coin Market Cap with Other Crypto Tracking Platforms

Introduction

In the fast-paced world of bitcoin, both investors and traders require reliable and timely data. Coin Market Cap has emerged as one of the most popular sites for monitoring cryptocurrency prices, market capitalizations, and general market trends. To discover which crypto tracking platform is best for you, compare Coin Market Cap to CoinGecko, CryptoCompare, and Blockfolio.

Overview of Coin Market Cap.

Coin Market Cap, which launched in 2013, immediately became a popular site for cryptocurrency fans. It offers customers a comprehensive perspective of the cryptocurrency market, including real-time data on thousands of currencies and tokens. Users get easy access to price charts, market capitalization numbers, trading volumes, and historical data This makes it a powerful decision-making tool.

One of Coin Market Cap's distinguishing qualities is its user-friendly interface, which allows users to filter and sort cryptocurrencies based on a variety of factors such as price movements, volume, and market capitalization rankings. It also provides instructional tools and a news section to keep readers up to date on the most recent events in the cryptocurrency field.

Comparison to CoinGecko

CoinGecko is frequently regarded as one of Coin Market Cap's closest competitors. CoinGecko, which was launched immediately after Coin Market Cap, provides comparable functionality while adding some new features. For example, CoinGecko offers thorough insights on each cryptocurrency's developer activity, community involvement, and liquidity, which can be useful in determining a coin's potential.

Furthermore, CoinGecko offers a powerful portfolio tracking feature, which enables users to control and track their finances in one location. It also supports a broader range of coins and tokens, including decentralized finance (DeFi) initiatives, which may appeal to consumers interested in exploring the expanding DeFi market.

CryptoCompare focuses on data.

CryptoCompare separates out by taking a more data-driven approach. In addition to price and market cap information, CryptoCompare provides in-depth research, historical data, and tools for comparing several cryptocurrencies side by side. This makes it a good choice for traders who wish to do extensive technical analysis prior to making investing decisions.

CryptoCompare also includes unique features such as cryptocurrency mining calculators and hardware comparisons, catering to a specific audience interested in the mining element of the cryptocurrency ecosystem. However, its interface could be less user-friendly compared to CoinMarketCap and CoinGecko.

Blockfolio:

Blockfolio, often known as FTX, offers a different strategy, focusing mostly on portfolio management. It allows users to monitor their bitcoin assets in real time and receive notifications of price fluctuations, news updates, and other important information. While Blockfolio includes some price tracking functions, it does not provide as much market-wide data as Coin Market Cap or CoinGecko.

Blockfolio provides a streamlined experience that stresses simplicity and accessibility for consumers who are more interested in managing their investments than in conducting market research. Its mobile app is especially popular, as it allows users to check their portfolios while on the go.

Conclusion

While Coin Market Cap is a key platform for monitoring cryptocurrency prices, According to industry data, some alternative options have distinct features that may better suit individual preferences and needs. CoinGecko offers additional insights and portfolio tracking, whereas CryptoCompare targets data-driven traders with in-depth analytical tools. For individuals who are more interested in investment management, Blockfolio provides an easy way to track portfolios.

[ailtrahq]

FTX confirmed that the breach affected none of its systems. The exchange launched the customer claims portal on 11 July, but it inexplicably went offline within an hour Bankrupt cryptocurrency exchange FTX has taken steps to bolster the security of its customer claims portal following a cyber breach. This has allowed claimants to continue submitting claims for assets held on the exchange before it went insolvent. According to FTX, none of its systems were affected by the breach, which targeted its appointed bankruptcy claims agent, Kroll. The breach exposed non-sensitive customer data for specific claimants, with FTX emphasizing that account passwords and funds remain unaffected. FTX provided the following update regarding the recent Kroll cybersecurity incident. Claimants may now resume activities on our platform: https://t.co/DkYi2hDLbI. pic.twitter.com/Nfob4QQxjv — FTX (@FTX_Official) September 16, 2023 Enhanced measures and progress on assets Account holders can now access their accounts and proceed with the claims process for digital assets held on the platform prior to its declaration of bankruptcy in November 2022. This applies to individuals who held accounts with FTX, FTX.US, Blockfolio, FTX EU, FTX Japan, and Liquid. As of 11 September, approximately 36,075 customer claims worth $16 billion had been filed against FTX and FTX.US, with 10% of these claims having been approved. Additionally, 2,300 non-customer claims totaling $65 billion had been filed, including claims from Genesis, Celsius, and Voyager. FTX clarified that freezing the accounts had been a precautionary measure. It added that it has implemented additional security measures since then. The exchange took these actions in response to several issues reported with the claims portal recently. FTX launched the customer claims portal on 11 July. However, it inexplicably went offline within an hour of its launch. On 27 August, FTX temporarily suspended accounts for affected users who accessed its claims portal after the initial discovery of the cybersecurity attack against Kroll. Despite the suspension, users were still able to submit proof-of-claim via Kroll’s online customer form and by mail. In another related development, the U.S. Bankruptcy Court for the District of Delaware recently approved the sale of FTX’s digital assets. Judge John Dorsey issued a ruling on 13 September, permitting FTX to sell assets in weekly batches, subject to strict conditions, through an investment adviser. The initial week has a $50 million limit, followed by $100 million in subsequent weeks. However, FTX remains prohibited from selling its Bitcoin [BTC], Ethereum [ETH], and “certain insider-affiliated tokens” without a separate decision, following a 10-day notice to committees and the U.S. trustee. Source

[virginiaprelawland]

Sam Bankman-Fried And The Downfall Of FTX

By Elizabeth Wolnik, George Mason University Class of 2024

February 26, 2023

Sam Bankman-Fried is one of the most famous finance, cryptocurrency entrepreneurs, and political donors [1] of this generation with a net worth of over $26 billion [3]. Much, if not all, of Bankman-Fried’s net worth was directly tied to the value of FTX and its FTT token. Now he is most well-known for causing investors to lose billions in an alleged Ponzi scheme. Bankman-Fried graduated from Massachusetts Institute of Technology in 2014 with a degree in physics and a minor in mathematics. After graduating, Bankman-Fried worked for Jane Street Capital which focuses on proprietary trading and where Bankman-Fried traded ETFs (exchange-traded funds) [2]. He left in 2017 to focus on crypto trading and to start his own company, Alameda Research. Alameda Research is a quantitative trading firm and was instantly a success, making millions of dollars every day by trading cryptocurrency in international markets. In 2019, Bankman-Fried founded the exchange known as FTX which quickly became one of the world’s largest crypto exchanges [3].

Bankman-Fried capitalized on the growing popularity of cryptocurrency that arose when the pandemic started. Because Bankman-Fried had made a name for himself with Alameda Research, the growth of FTX was very fast [4]. FTX specialized in derivatives and leveraged tokens in cryptocurrency. Its headquarters was in the Bahamas, but US residents could only trade through FTX US [6]. Initial investors of FTX included Pantera Capital, Sequoia Capital, Digital Currency Group and many more [4]. Over a year after its release, FTX launched "fractionalized stock trading” for companies like Tesla, Apple, and Amazon. In 2021 FTX focused on its branding by making deals with major sports stars like Tom Brady and Steph Curry. Because of the intense popularity of FTX, it is not surprising that they saw nearly $30 billion in daily volume as the second largest crypto exchange worldwide [4].

Through FTX, Bankman-Fried was also known for supporting struggling crypto companies. In 2020, FTX acquired the Blockfolio exchange for $150 million which led FTX’s user base to increase [3]. Bankman-Fried also saved the crypto exchange company BlockFi from a major liquidity crisis. He also bought the crypto lending platform Voyager and LedgerX, but LedgerX was never fully integrated into FTX. In 2021, Bankman-Fried also bought out all of Binance’s equity shares in the company [4]. Bankman-Fried used the power of acquisition for FTX’s users to view him as a strong foundation in the unstable world of cryptocurrency [3].  At the beginning of 2022, investors valued FTX at $40 billion [2].

In November 2022, FTX’s collapse was becoming imminent. On November 2, a report by crypto news site CoinDesk revealed that most of the cash being held by FTX was in the form of its own FTT token, which it centrally controls. The report also highlighted concerns pertaining to FTX’s leverage and solvency concerns with Alameda Research [5]. At this point, FTX users began to withdraw their investments rapidly which caused Bankman-Fried to file for Chapter 11 bankruptcy for both FTX and Alameda Research [2], since there were now accusations of commingled funds between the two companies [4]. The court then appointed a new CEO of FTX to replace Bankman-Fried [5].

Soon after this report came to light, FTX’s rival Binance announced that they would sell all of their FTT tokens [3]. This announcement caused the price of FTT to be pushed down and it tore through the rest of the cryptocurrency markets. It was also allegedly reported that Bankman-Fried attempted to save FTX by initiating an overnight deal to raise billions of dollars. The day after, between $1 and $2 billion in FTX customer funds went missing. FTX stated that they were investigating these “unauthorized transactions” after people watching the blockchain identified the money and saw it disappear [3]. On December 12 Bankman-Fried was arrested in the Bahamas where he was living at the time and was extradited to the United States [5]. On November 30, Bankman-Fried said in an interview that FTX’s collapse was due to sloppy accounting and not due to criminal activity. Bankman-Fried continued to feign ignorance of the allegations of commingled funds between FTX and Alameda Research by stating that he didn’t “knowingly” commingle the funds. On December 21, Bankman-Fried appeared before a federal judge for his court hearing. Bankman-Fried received the largest bond in history, at $250 million. Those who invested in FTX are likely to never recover the funds lost in its collapse [3].

In order to understand the depths of the downfall of FTX and for the public to be made aware of this, it’s important to cover the aspects of the crimes Bankman-Fried is alleged to have committed.

Bankman-Fried is accused of operating FTX as a Ponzi scheme. A Ponzi scheme is a type of investment fraud that pays existing investors money collected from new investors [9]. People who organize Ponzi schemes promise to invest a person’s money with high returns and little risk involved. In most cases, individuals who are running a Ponzi scheme do not even invest the money given to them by new investors, they just use it to pay those who invested earlier and even keep some for themselves. Ponzi schemes require a constant flow of income in order to remain operational. Ponzi schemes tend to collapse when it becomes harder to recruit new investors or when current investors cash out [9].

FTX is considered a crypto hedge fund, so it’s important to discuss hedge funds in the context of its downfall. Hedge funds are limited partnerships of private investors whose money is managed by professional fund managers who use leveraging techniques to earn exponential amounts of money [7]. Hedge funds are considered a risky investment decision since it’s common to trade non-traditional assets like crypto or bitcoin. Due to its high-risk nature of hedge funds, it usually attracts wealthy clients. Investments into hedge funds are considered illiquid because it requires investors to keep their money in the fund for at least a year before they can make withdrawals. Hedge funds are not strictly regulated by the Securities and Exchange Commission (SEC), and can only accept money from accredited investors, like those who make more than $200,000 per year [7].

Chapter 11 bankruptcy is also known as “reorganization” bankruptcy. Usually, the person in debt can remain in possession of their assets and has the powers of a trustee and may continue to operate their business and can even borrow more money with court approval [8]. Chapter 11 bankruptcies begin with a filing of a petition with the bankruptcy court serving the area where the debtor has residence or where their main place of business is. Chapter 11 bankruptcies can be involuntary or involuntary and the debtor must file in-depth reports of their assets and liabilities, reports of their current income and expenditures, schedules of executory contracts and expired leases, and a statement of financial affairs. Because a corporation is considered a separate entity from its owners and stockholders, Chapter 11 bankruptcy is typically used to reorganize a business [8].

Commingled funds are the mixing of personal and business funds or involve using business assets for personal reasons [10]. This is a serious breach of trust and it makes it difficult to determine which funds belong to a company and which funds are personal. This opens a person up to civil liabilities and in the case of an alleged fraud circumstance, they could face jail time. Many creditors make an argument for commingled funds when there is not a separate entity and that a person’s “business” is just another feature of them, which does not protect them from limited liabilities [10].

With all of these aspects investigated in Bankman-Fried’s case, he has been indicted with eight criminal fraud charges and additional accusations [3]. The accusations include statements from the Commodity Futures Trading Commission that state that Bankman-Fried manipulated the price of the FTT token intentionally. His co-workers Caroline Ellison (CEO of Alameda Research) and Gary Wang (co-founder of FTX) have pleaded guilty to defrauding investors and have agreed to help with the investigation. Bankman-Fried vehemently denies that he committed any crimes even though the US Attorney of the Southern District of New York Damian Williams has called Bankman-Fried’s actions “one of the biggest financial frauds in American history” [3].

As of February 9, 2023, a US judge has extended the bail on Bankman-Fried’s ability to contact his ex-employees and use encrypted messaging technology while out on bail awaiting trail on the fraud charges [1]. This occurred after US District Judge Lewis Kaplan temporarily banned Bankman-Fried from contacting any current or former employees of FTX and Alameda Research. Prosecutors have even raised concerns that Bankman-Fried might be trying to tamper with witnesses, but as a condition of his release on the $250 million bond, the judge prevented Bankman-Fried from using any encrypted messaging apps for communication. However, one of the prosecutors on the case, Danielle Sassoon said “We don’t want to completely eliminate the defendant’s ability to communicate”, so Bankman-Fried is still allowed to use some communication apps but is required to install monitoring technology [1].

The prosecution is accusing Bankman-Fried of cheating investors and costing them billions of dollars in losses [1]. Bankman-Fried pleaded not guilty on January 3, 2023 to all eight criminal indictments, including wire fraud and a money laundering conspiracy. If convicted, he faces up to 115 years in prison. Bankman-Fried’s trial is set for October 2, 2023 [4].

______________________________________________________________

[1] https://www.reuters.com/legal/us-judge-weigh-changes-ftx-founder-bankman-frieds-bail-terms-2023-02-09/

[2] https://www.forbes.com/profile/sam-bankman-fried/?sh=540ad3d54449

[3] https://www.investopedia.com/who-is-sam-bankman-fried-6830274

[4] https://decrypt.co/118516/sam-bankman-fried-ftx-latest-timeline

[5] https://www.investopedia.com/what-went-wrong-with-ftx-6828447#:~:text=3.-,What%20Happened%20to%20FTX,the%20native%20token%20of%20FTX

[6] https://www.investopedia.com/ftx-exchange-5200842

[7] https://www.investopedia.com/terms/h/hedgefund.asp#:~:text=A%20hedge%20fund%20is%20a,earn%20above%2Daverage%20investment%20returns.

[8] https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-11-bankruptcy-basics

[9] https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme

[10] https://watkinsfirm.com/commingling-funds-assets/

[thetopbestguide]

FTX’s Acquisition of Blockfolio Paid in FTT Tokens Which are Now Virtually Worthless – Here’s What You Need to Know

FTX’s Acquisition of Blockfolio Paid in FTT Tokens Which are Now Virtually Worthless – Here’s What You Need to Know

Sam Bankman-Fried.Video screenshot, New York Times / YouTube When the now-bankrupt crypto exchange FTX acquired the crypto mobile app Blockfolio, payment was not made in cash but instead in the form of FTX’s own FTT tokens, financial statements have revealed. According to Bloomberg, which said it has obtained financial statements from FTX, about 94% of the Blockfolio acquisition was paid for in…

[letscollectnft]

FTX’s Acquisition of Blockfolio Paid in FTT Tokens Which are Now Virtually Worthless – Here’s What You Need to Know

FTX’s Acquisition of Blockfolio Paid in FTT Tokens Which are Now Virtually Worthless – Here’s What You Need to Know

Sam Bankman-Fried.Video screenshot, New York Times / YouTube When the now-bankrupt crypto exchange FTX acquired the crypto mobile app Blockfolio, payment was not made in cash but instead in the form of FTX’s own FTT tokens, financial statements have revealed. According to Bloomberg, which said it has obtained financial statements from FTX, about 94% of the Blockfolio acquisition was paid for in…

[tpn-cryptocurrency]

FTX’s Acquisition of Blockfolio Paid in FTT Tokens Which are Now Virtually Worthless – Here’s What You Need to Know

FTX’s Acquisition of Blockfolio Paid in FTT Tokens Which are Now Virtually Worthless – Here’s What You Need to Know

Sam Bankman-Fried.Video screenshot, New York Times / YouTube When the now-bankrupt crypto exchange FTX acquired the crypto mobile app Blockfolio, payment was not made in cash but instead in the form of FTX’s own FTT tokens, financial statements have revealed. According to Bloomberg, which said it has obtained financial statements from FTX, about 94% of the Blockfolio acquisition was paid for in…

[mubashirnews]

FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

The collapsed cryptocurrency exchange FTX reportedly paid 94% of the $84 million purchase of a majority stake in Blockfolio in FTT tokens.  The coin played a leading role in the platform’s crash last month. CZ said Binance plans to dump its entire FTT stash (23 million tokens worth over $580 million at the time) amid rising worries about the over-exposure of FTX and Alameda towards the former’s…

[cryptosnewss]

FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

Collapsed cryptocurrency exchange FTX reportedly paid 94% of the $84 million purchase of a majority stake in Blockfolio in FTT tokens. The coin played a prominent role in the crash of the platform last month. CZ said Binance plans to empty its entire FTT stash (23 million tokens worth over $580 million at the time) amid growing concerns over FTX and Alameda overexposure to the native asset of the…

[cryptonews256]

FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

The collapsed cryptocurrency exchange FTX reportedly paid 94% of the $84 million purchase of a majority stake in Blockfolio in FTT tokens.  The coin played a leading role in the platform’s crash last month. CZ said Binance plans to dump its entire FTT stash (23 million tokens worth over $580 million at the time) amid rising worries about the over-exposure of FTX and Alameda towards the former’s…

[ailtrahq]

Bankrupt cryptocurrency exchange FTX has restored its customer claims portal, which was previously shut down due to a cyber attack. Claimants can now continue to submit asset claims they held on the exchange prior to it becoming insolvent. On September 16, FTX made a statement on X (formerly Twitter), confirming that none of its systems were affected by the cyber breach involving its appointed bankruptcy claims agent, Kroll. FTX provided the following update regarding the recent Kroll cybersecurity incident. Claimants may now resume activities on our platform: https://t.co/DkYi2hDLbI. pic.twitter.com/Nfob4QQxjv— FTX (@FTX_Official) September 16, 2023 It declared that account holders of the now-defunct crypto exchange can now access to their accounts and proceed with the bankruptcy claims process for digital assets they held on the exchange prior to it declaring bankruptcy in November 2022. The claims portal allows customers who had accounts with FTX, FTX US, Blockfolio, FTX EU, FTX Japan and Liquid access their account information and submit claims as part of the company's restructuring. On September 11, Cointelegraph reported that approximately 36,075 customer claims, worth $16 billion have been filed against FTX and FTX US, and 10% of those have been agreed on. It was further noted that 2,300 non-customer claims have been filed against the entity, including those from Genesis, Celsius and Voyager. FTX asserted that freezing the accounts was a precautionary step and has stated it has introduced additional security measures. No FTX systems were impacted by the Kroll incident, and freezing accounts was a precautionary measure.This comes after numerous reports of issues with the claims portal in recent times. On Aug. 27, FTX declared a temporary suspension of accounts for affected users who accessed its claims portal after the cybersecurity attack against Kroll was disclosed. However, users could still submit a proof-of-claim through Kroll's online customer form and by mail.The breach allegedly exposed non-sensitive customer data of specific claimants. At the time, FTX said it was overseeing the situation, assuring that account passwords, systems and funds remain unaffected.The customer claims portal was launched on July 11 but went offline for unknown reasons after only one hour. Source

[technsavi]

FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

The collapsed cryptocurrency exchange FTX reportedly paid 94% of the $84 million purchase of a majority stake in Blockfolio in FTT tokens.  The coin played a leading role in the platform’s crash last month. CZ said Binance plans to dump its entire FTT stash (23 million tokens worth over $580 million at the time) amid rising worries about the over-exposure of FTX and Alameda towards the former’s…

[wokxchange]

FTX's Blockfolio Stake Was Paid for Mostly in FTT: Bloomberg

FTX's Blockfolio Stake Was Paid for Mostly in FTT: Bloomberg

Bankrupt cryptocurrency exchange FTX used its own token, FTT, to fund the purchase of a majority stake in trading platform Blockfolio in 2020, Bloomberg reported Thursday. Source link

[bitcofun]

This is a viewpoint editorial by Morgan Rockwell, creator of Bitcoin Kinetics. I'm not worried about Sam Bankman-Fried presumably getting a loan from Alameda, which was in fact FTX consumer funds wired through Alameda to be credited on FTX. I'm not worried about the ethical compass of the star financiers who offered billions to a kid they didn't truly understand or comprehend, yet backed with wealth and reliability. I'm not extremely interested in the monetary and market results upon the lots of business, exchanges and traders who for some factor depended upon FTX in any kind. I'm most worried about Sam Bankman-Fried getting the individual recognition info of countless consumers, and utilizing that information to do chain analysis on the Blockfolio app he bought which was utilized by lots of Bitcoiners and cryptocurrency holders as a tracking tool of Bitcoin, Ethereum and other watch-only cryptocurrency wallets. Source: Google Images If you aren't mindful, Blockfolio was an app that was utilized by numerous Bitcoin holders and other cryptocurrency holders to track the currency exchange rate or the costs of their coins kept in freezer or on wallets that they just wished to be enjoying and not have actively on a hot wallet on their mobile phone. Keeping the wallet addresses really were not even required on the app. You might simply put in a quantity of a specific cryptocurrency that you wished to view and state that you had-- however there was likewise a function to link to exchanges to monitor all of your coins throughout all of the exchanges you had them on in one app. This was the appeal of Blockfolio as it didn't always request excessive individual recognition info besides an e-mail to assist monitor your account so you can visit from several gadgets. Most of us like myself ended up being mindful of Sam Bankman-Fried since of the purchase of Blockfolio by a recently formed entity called FTX. Over a number of weeks the Blockfolio app was rebranded as the FTX app which now had its own exchange. It likewise had a brand-new set of Know Your Customer guidelines, Anti-Money Laundering policies, a brand-new Terms of Service, in addition to its own custodial wallet held by FTX, we presumed. Here you can see the Terms of Service at Blockfolio from June 30, 2017: Source: Blockfolio Privacy Policy 2017 Blockfolio avidly argued that they were not and would never offer user information. Blockfolio even tried to de-identify users with a hashing system for IDs to not even let themselves recognize and link user portfolios to email addresses; this obviously never ever taken place after the purchase and improvement into FTX. Here you can see the plain distinction in the brand-new FTX Privacy Policy: Source: FTX Privacy Policy 2022 Here is what bit is pointed out about individual recognizable info within the FTX Terms of Service, which is a various file than the Privacy Policy. For recommendation, if you have never ever check out a Terms Of Service or Privacy Policy of a business in the past, I highly suggest you get a strong beer and enjoy this word soup! This all has actually raised concerns around this merger and the acquisition that took place in the cryptocurrency market just a few years back. I am worried due to the fact that after the fallout of this exchange, FTX declaring bankruptcy and all of its properties possibly being installed for auction, I wish to understand the state of the individual recognition info that FTX had actually been required to collect due to the fact that of KYC and AML laws. My issue is the huge quantity of details collected consisting of passports, telephone number, IP addresses, house addresses, cryptocurrency wallet addresses, e-mail addresses, passwords and federal government IDs. All of these might be cost auction as client information or client profiles to whoever discovers them important. Source: FTX Privacy Policy (disclosure in case of merger, sale, or other property transfers) Now the possessions

held by FTX whether they were really genuine cryptocurrency such as bitcoin or comprised tokens developed on another layer one network such as ethereum are not too essential in this discussion in my viewpoint. What is essential is the information, the personal privacy information, the information mining operation that might have or will be done on all of this information FTX had actually collected on clients either it was done by them or it will be done by whomever purchases this information at auction. Much more so, the jurisdiction of that information is open to anywhere in the world. Source: FTX Privacy Policy (worldwide information transfers) As somebody who has actually personally dealt with coin analysis ideas and innovation for the United States Military, in addition to spoken with on this for the Department of Defense as a so called "topic specialist," I can personally testify that it is really simple to associate an individual to their Bitcoin wallet address utilizing absolutely nothing more than the quantities of bitcoin hung on particular addresses, in addition to the gadget information that is keeping an eye on those particular quantities on particular addresses-- this is basic SIGINT, MASINT or HUMINT, all of which are various types of intelligence event. If you are keeping an eye on any bitcoin on any wallet over any Bitcoin explorer that is browsed a web browser or app on any gadget, phone, laptop computer or tablet, there is now a record that will be linked to the IP address, the MAC number, the SIM telephone number, the VOIP number, charge card number, house address and any other individual determining info that is connected in any method to this gadget. I understand this due to the fact that Edward Snowden dripped files revealing that the NSA had actually a program called XKEYSCORE and applications were utilized like OAKSTAR and its subprogram MONKEYROCKET to particularly track Bitcoin users at the NSA. Source: https://theintercept.com/2018/03/20/ the-nsa-worked-to-track-down-bitcoin-users-snowden-documents-reveal/ Now what I'm getting at is this information that FTX was required under AML and KYC law to be collected. This is possibly among the biggest events of this kind of information in the cryptocurrency market ever performed in history. This information, integrated with coin analysis details associated to bitcoin, ethereum and other cryptocurrency quantities being tracked by the formerly entitled Blockfolio app has actually developed a circumstance where KYC information individual recognizing info can be now superimposed over Blockfolio e-mail addresses, UTXOs and view addresses that lots of individuals utilized on Blockfolio with no individual details being disclosed to the app. So this implies that individuals that utilized Blockfolio to monitor the quantity of cryptocurrency they had, wished to purchase or were monitoring for whatever factor will now have the ability to be associated to extremely comprehensive individual recognition details. The issue I have is not whether FTX and its numerous subsidiaries were tracking this details from Blockfolio or utilizing it in any method, however tha t their large brand-new swimming pool of client details and information will be binded in the future to the Blockfolio information. I do not presume FTX was smart adequate to do this for any function such as marketing, or information showing a hedge fund like Robinhood was captured doing, however I do presume that they might have thought about offering this information to police, to marketers or to stars in the intelligence neighborhood as SBF stated there was an open door to regulators and police at FTX. What we require to consider now is when the possessions of FTX increase for auction, which they will, that not just the digital currencies and tokens in addition to the licenses will be offered to some brand-new celebration, however it will be the clients themselves, individual determining details and the huge information mining that might have been or will be finished with that information.

I was never ever an FTX user, I never ever produced an account with FTX or FTX.us and I never ever wired any cash to Alameda. Due to the fact that of my durability in the Bitcoin area, I utilized Blockfolio like numerous Bitcoin users prior to me to keep track of the quantities of Bitcoin I had in numerous places and their overall worth. Now that information that I believed was personal will be linked to KYC information of anybody I understand, engaged with over a wire and any gadget they utilized, specifically if through numerous connections it leads back to FTX in any method. What we require to do now is ask the severe concerns and not concentrate on the monetary responsibilities or mishandlings of SBF and FTX. We must ask who has this information? What has been made with this information and who will be owning this information in the future? The truth is FTT liquifying into absolutely nothing isn't a "Force Majeure Event," so the majority of the users are screwed. Source: FTX Terms Of Service 2022 If this at all issues you or includes you, I would recommend all of us discover the appropriate channels to safeguard ourselves from the worst case circumstance from this fallout of information. This is the greatest issue with KYC and AML laws, due to the fact that after all of this monetary turmoil, there is now a criminal-run exchange that remains in belongings of countless individuals's individual details about their gadgets, their houses, their financials and more, all offered to the greatest bidder. Notes: The Blockfolio TOS & & Privacy Policy go to dead links on the FTX.com site, however I discovered a 2017 variation. You should check in through Zendesk to see the missing out on Blockfolio TOS/PP along with the brand-new FTX TOS/PP which indicates I needed to provide an e-mail and PPI to even see the files This is a visitor post by Morgan Rockwell. Viewpoints revealed are totally their own and do not always show those of BTC Inc or Bitcoin Magazine. Read More

[tpn-cryptocurrency]

FTX's Blockfolio Stake Was Paid for Mostly in FTT: Bloomberg

FTX's Blockfolio Stake Was Paid for Mostly in FTT: Bloomberg

Bankrupt cryptocurrency exchange FTX used its own token, FTT, to fund the purchase of a majority stake in trading platform Blockfolio in 2020, Bloomberg reported Thursday. #FTX039s #Blockfolio #Stake #Paid #FTT #Bloomberg

[cryptonews587]

How The FTX Collapse Could Leave Blockfolio Users Exposed - Bitcoin Magazine

How The FTX Collapse Could Leave Blockfolio Users Exposed – Bitcoin Magazine

This is an opinion editorial by Morgan Rockwell, founder of Bitcoin Kinetics. I’m not concerned with Sam Bankman-Fried allegedly getting a loan from Alameda, which was actually FTX customer funds wired through Alameda to be credited on FTX. I’m not concerned with the moral compass of the celebrity investors who gave billions to a kid they didn’t really know or understand, yet endorsed with wealth…

[cryptrending]

How The FTX Collapse Could Leave Blockfolio Users Exposed - Bitcoin Magazine

How The FTX Collapse Could Leave Blockfolio Users Exposed – Bitcoin Magazine

This is an opinion editorial by Morgan Rockwell, founder of Bitcoin Kinetics. I’m not concerned with Sam Bankman-Fried allegedly getting a loan from Alameda, which was actually FTX customer funds wired through Alameda to be credited on FTX. I’m not concerned with the moral compass of the celebrity investors who gave billions to a kid they didn’t really know or understand, yet endorsed with wealth…