The founder and former CEO of collapsed cryptocurrency exchange FTX, Sam Bankman-Fried, has deferred testifying before the United States Congress, saying he would appear before the US House Committee on Financial Services after he “finished learning and reviewing” the events that led to the collapse.
FTX Japan has confirmed that it is looking to restart customer withdrawals after a plan to return deposits was approved by its parent company, the failed FTX exchange. If the plan works out, the exchange’s users in Japan may be some of the first to get their funds back.
Cryptocurrency lender Genesis and its parent company Digital Currency Group (DCG) reportedly owe $900 million to Gemini’s clients. Gemini operates a product called Earn in partnership with Genesis that offered investors the ability to lend funds to earn interest.
Top stories in the Crypto Roundup today:
- FTX’s Former CEO Defers Testifying Before US Congress
- FTX Japan Plans to Restart Withdrawals For Local Users
- Crypto Lender Genesis Reportedly Owes $900 Million to Gemini Clients
- What is Litecoin?