Gus – Cryptocurrency Expert
According to CNBC, FTX, a cryptocurrency trading exchange located in the Bahamas, is in negotiations with investors to raise up to $1 billion in new capital, which would retain the company's $32 billion value.
Sam Bankman-Fried, the CEO of FTX, is allegedly negotiating the conditions in confidence, while individuals acquainted with the arrangement claim that the parameters are flexible. The next investment was previously expected to be made as a fixed sum, keeping FTX's valuation in line with the funds raised in January 2022, when the business had gathered about $400 million. FTX has previously participated in two rounds of financing in 2021, raising $420.69 million. Sam Bankman-Fried and FTX have not made any public statements about the intended use of the agreement's proceeds.
FTX has been particularly active in acquiring the assets of troubled crypto market investment companies so far in 2022. Most recently, it was claimed that FTX had made one of the largest offers for the assets of the insolvent cryptocurrency lender Voyager Digital. On or before September 29th, when Voyager's next court appearance is scheduled, the auction's winner is anticipated to be revealed.
Another notable development this year was the acquisition by FTX of Dubai's approval to carry out digital asset trading and clearing activities in the United Arab Emirates. It hasn't been all sunshine and roses for FTX though, as the cryptocurrency trading exchange recently got into trouble after the UK's financial watchdog, the Financial Conduct Authority (FCA), warned customers not to do business with FTX. "We suspect this business may be offering financial services or products in the UK without our authorization," the warning letter added. "This business is not authorized by us and is targeting persons in the UK," it said.
You won't be covered by the Financial Services Compensation Scheme (FSCS) or have access to the Financial Ombudsman Service, so you won't be guaranteed to receive your money back if something goes wrong.
If you would like to get ahead into cryptocurrency trading, you can use a trusted cryptocurrency broker – BC Bitcoin. You can buy and sell cryptocurrency on their platform using credit cards or any bank transfer. It offers cheap cryptocurrency and small fees.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards