FTX offered Genesis execs cut-price FTT tokens

						Array
(
    [ppma_authors_name] => Array
        (
            [0] => David Kent
        )

    [classic-editor-remember] => Array
        (
            [0] => classic-editor
        )

    [_edit_lock] => Array
        (
            [0] => 1680014988:19
        )

    [_edit_last] => Array
        (
            [0] => 19
        )

    [_thumbnail_id] => Array
        (
            [0] => 17209
        )

    [_wp_page_template] => Array
        (
            [0] => default
        )

    [_prlipro-post-options] => Array
        (
            [0] => a:3:{s:14:"requested_slug";s:0:"";s:19:"hide_social_buttons";b:0;s:20:"disable_replacements";b:0;}
        )

    [_bsf_post_type] => Array
        (
            [0] => 0
        )

    [_bsf_item_review_type] => Array
        (
            [0] => none
        )

    [_yoast_wpseo_focuskw] => Array
        (
            [0] => FTX
        )

    [_yoast_wpseo_metadesc] => Array
        (
            [0] => Reports claim execs at the collapsed crypto lender were offered opportunity to invest in FTT.
        )

    [_yoast_wpseo_linkdex] => Array
        (
            [0] => 39
        )

    [_yoast_wpseo_content_score] => Array
        (
            [0] => 60
        )

    [_yoast_wpseo_estimated-reading-time-minutes] => Array
        (
            [0] => 1
        )

    [_yoast_wpseo_wordproof_timestamp] => Array
        (
            [0] => 
        )

    [post_introduction] => Array
        (
            [0] => Reports claim execs at the collapsed crypto lender were offered opportunity to invest in FTT.
        )

    [_post_introduction] => Array
        (
            [0] => field_5e8bb40d3036a
        )

    [time_to_read] => Array
        (
            [0] => 2 mins read
        )

    [_time_to_read] => Array
        (
            [0] => field_5ea04c4ba2fca
        )

    [in_summary] => Array
        (
            [0] => 
        )

    [_in_summary] => Array
        (
            [0] => field_62542d4010cad
        )

    [ppma_disable_author_box] => Array
        (
            [0] => 0
        )

    [_yoast_wpseo_primary_category] => Array
        (
            [0] => 7
        )

    [_yoast_wpseo_primary_casino_bonus] => Array
        (
            [0] => 
        )

    [_yoast_wpseo_primary_casino_games] => Array
        (
            [0] => 
        )

    [_yoast_wpseo_primary_countries] => Array
        (
            [0] => 84
        )

    [_yoast_wpseo_primary_crypto] => Array
        (
            [0] => 
        )

    [_yoast_wpseo_primary_deposit_methods] => Array
        (
            [0] => 
        )

    [_yoast_wpseo_primary_languages] => Array
        (
            [0] => 
        )

    [_yoast_wpseo_primary_license] => Array
        (
            [0] => 
        )

    [_yoast_wpseo_primary_suppliers] => Array
        (
            [0] => 
        )

)

Updated March 28, 2023 | Published March 28, 2023

2 mins read

Reports claim execs at the collapsed crypto lender were offered opportunity to invest in FTT.

Executives at the now collapsed crypto lender Genesis were offered FTX crypto tokens (FTT) at a discount rate before they were offered to the public, according to the Financial Times.

Genesis was a key source of funding for Alameda Research, the trading firm at the heart of FTX founder Sam Bankman-Fried’s alleged theft of customer assets from FTX.

Genesis execs were offered the opportunity to invest in presale tokens of FTT, the FTX native token that launched in 2019, and Serum, which launched in 2020 with backing from FTX and Alameda.

Thomas Braziel, co-founder of 507 Capital, which has bought claims in several crypto bankruptcies including Genesis and FTX, said: “[Bankman-Fried] really took care of people who he thought were important to him. He was doing a good job of keeping everybody’s bread buttered.”

Genesis’s $226m exposure to Bankman-Fried’s ventures when they collapsed had previously been much larger, but in the summer of 2022, Alameda paid back loans to Genesis and other lenders as crypto markets faltered.

US authorities accused Bankman-Fried of repaying creditors in 2022 with funds from FTX without telling them the true source of the money.

Bankman-Fried has denied any wrongdoing.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by David Kent

David has more than a decade of sports betting and sports writing experience working with some of the biggest names in the industry. He focuses on articles covering these subjects including how crypto is transforming sportsbooks.
Best Casinos to play with…
Bitcoin
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
THE LEDGER: Biden goes after crypto mining, while Coinbase has a loan moan
The Ledger: ChatGPT forecasts BTC will hit $120k, Coinbase hears London calling

Similar News

Binance 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 197
            [name] => Binance
            [slug] => binance
            [term_group] => 0
            [term_taxonomy_id] => 197
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 177
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 138
            [name] => Bitcoin
            [slug] => bitcoin
            [term_group] => 0
            [term_taxonomy_id] => 138
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 134
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 8696
            [name] => Bitcoin exchange
            [slug] => bitcoin-exchange
            [term_group] => 0
            [term_taxonomy_id] => 8696
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2
            [filter] => raw
        )

    [3] => WP_Term Object
        (
            [term_id] => 6546
            [name] => Cryptocurrency exchange
            [slug] => cryptocurrency-exchange
            [term_group] => 0
            [term_taxonomy_id] => 6546
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 8
            [filter] => raw
        )

    [4] => WP_Term Object
        (
            [term_id] => 367
            [name] => Japan
            [slug] => japan
            [term_group] => 0
            [term_taxonomy_id] => 367
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 7
            [filter] => raw
        )

    [5] => WP_Term Object
        (
            [term_id] => 8705
            [name] => Sakura Exchange BitCoin
            [slug] => sakura-exchange-bitcoin
            [term_group] => 0
            [term_taxonomy_id] => 8705
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

)

Binance to launch operations in Japan

02/06/2023|08:05

Cryptocurrency exchange Binance has announced its plans to establish a new and regulated subsidiary in Japan. After five years out...
AscendEX 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 8700
            [name] => AscendEX
            [slug] => ascendex
            [term_group] => 0
            [term_taxonomy_id] => 8700
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 8703
            [name] => Banger
            [slug] => banger
            [term_group] => 0
            [term_taxonomy_id] => 8703
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 8699
            [name] => BTSE
            [slug] => btse
            [term_group] => 0
            [term_taxonomy_id] => 8699
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [3] => WP_Term Object
        (
            [term_id] => 8702
            [name] => decentralized economy
            [slug] => decentralized-economy
            [term_group] => 0
            [term_taxonomy_id] => 8702
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [4] => WP_Term Object
        (
            [term_id] => 5379
            [name] => Ethereum blockchain
            [slug] => ethereum-blockchain
            [term_group] => 0
            [term_taxonomy_id] => 5379
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2
            [filter] => raw
        )

    [5] => WP_Term Object
        (
            [term_id] => 8698
            [name] => gaming token
            [slug] => gaming-token
            [term_group] => 0
            [term_taxonomy_id] => 8698
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [6] => WP_Term Object
        (
            [term_id] => 8704
            [name] => Horizon Labs Ventures
            [slug] => horizon-labs-ventures
            [term_group] => 0
            [term_taxonomy_id] => 8704
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [7] => WP_Term Object
        (
            [term_id] => 8638
            [name] => MEXC
            [slug] => mexc
            [term_group] => 0
            [term_taxonomy_id] => 8638
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2
            [filter] => raw
        )

    [8] => WP_Term Object
        (
            [term_id] => 8697
            [name] => qwan
            [slug] => qwan
            [term_group] => 0
            [term_taxonomy_id] => 8697
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [9] => WP_Term Object
        (
            [term_id] => 8701
            [name] => The Qwan Foundation
            [slug] => the-qwan-foundation
            [term_group] => 0
            [term_taxonomy_id] => 8701
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

)

Qwan token launches on Ethereum blockchain

01/06/2023|10:03

The Qwan global gaming token has gone live on the Ethereum blockchain. From May 31 starting at 10:00 EST, the...
Australia 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 372
            [name] => Australia
            [slug] => australia
            [term_group] => 0
            [term_taxonomy_id] => 372
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 8
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 7588
            [name] => Australian Securities and Investment Commission
            [slug] => australian-securities-and-investment-commission
            [term_group] => 0
            [term_taxonomy_id] => 7588
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 4
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 197
            [name] => Binance
            [slug] => binance
            [term_group] => 0
            [term_taxonomy_id] => 197
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 177
            [filter] => raw
        )

    [3] => WP_Term Object
        (
            [term_id] => 5531
            [name] => binance listings
            [slug] => binance-listings
            [term_group] => 0
            [term_taxonomy_id] => 5531
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2
            [filter] => raw
        )

    [4] => WP_Term Object
        (
            [term_id] => 138
            [name] => Bitcoin
            [slug] => bitcoin
            [term_group] => 0
            [term_taxonomy_id] => 138
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 134
            [filter] => raw
        )

    [5] => WP_Term Object
        (
            [term_id] => 6392
            [name] => BTC price
            [slug] => btc-price
            [term_group] => 0
            [term_taxonomy_id] => 6392
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2
            [filter] => raw
        )

)

Binance Australia users sell BTC at 20% discount

01/06/2023|09:17

Binance Australia customers have reportedly sold their Bitcoin (BTC) at a 20% discount compared to rival exchanges on Tuesday, 30...