FTX Latest: Dim Picture for Customers; Criminal Probe Possible

TL;DR

Most Read from Bloomberg FTX Latest: Dim Picture for Customers; Criminal Probe Possible ‘It’s All Gone’: FTX Bankruptcy Has Retail Traders Bracing for Losses China Plans Property Rescue as Xi Surprises With Policy Shifts Democrats Defy History, Keep Senate Control in Victory for Biden China Plans Sweeping Rescue Policies to Avert Property Crisis The value of FTX’s key crypto assets has plummeted since Sam Bankman-Fried’s exchange filed for bankruptcy, while an estimated $477 million vanished in unauthorized withdrawals, according to blockchain analytics firm Elliptic.FTX Trading International held just $900 million in liquid assets on Thursday -- the day before it filed for Chapter 11 bankruptcy -- against $9 billion of liabilities, according to sources familiar with the matter who viewed a limited version of a balance sheet.Key stories and developments: FTX’s Balance Sheet, Hack Paint Dim Picture for User Recovery Bankman-Fried: From Crypto King to King of Tech Bubble’s Losers Big Investors Are Giving Up on Crypto Markets Going Mainstream Summers Says FTX Meltdown Has ‘Whiffs’ of Enron-Like Scandal (1) ‘It’s All Gone’: FTX Bankruptcy Is Worst Fear for Retail Traders (All time references are New York) FTX’s Serum Project Is in Distress (1:05 p.m.) Tokens issued by Serum, a liquidity infrastructure hub built by FTX and used by market makers and lending protocols on Solana, tumbled more than 23% on Sunday alone, pricing data from CoinGecko showed.Binance Stops Deposits of FTX’s Token FTT (3:30 a.m. Sunday) Binance halted deposits of FTT, FTX’s token, “to prevent potential of questionable additional supplies affecting the market,” Binance CEO Changpeng “CZ” Zhao said on Twitter.Bahamas Says it Didn’t Authorize Local Withdrawals by FTX Exchange (9 p.m.) Bankrupt crypto exchange FTX’s move to allow withdrawals in the Bahamas was questioned by the nation’s securities regulator."

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