Welcome to our AI Robot Trader website! Thank you for taking the time to read our collected news articles on bitcoin, crypto, and forex. We hope you have found the information on our site to be valuable and informative. At AI Robot Trader, we are dedicated to providing the latest news and insights on the world of automated trading and cryptocurrency. We believe that these technologies have the potential to revolutionize the way we do business and invest, and we are excited to share our knowledge and expertise with our readers. We are also pleased to announce that our website is for sale to the right person looking to partner with us. If you are interested in leveraging the power of AI and machine learning to revolutionize your trading and investing strategies, we would love to hear from you. Thank you again for visiting our website. We hope you will continue to follow us for the latest updates and insights in the world of AI robot trading and cryptocurrency.
[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco Bello
Jan 17 (Reuters) - Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen in hacks.
FTX has said it had recovered over $5 billion in crypto, cash and liquid securities, but that significant shortfalls remained at both its international and U.S. crypto exchanges. FTX attributed some of the shortfall to hacks, saying that $323 million in crypto had been hacked from FTX's international exchange and $90 million had been hacked from its U.S. exchange since it filed for bankruptcy on Nov. 11.
Indicted founder Sam Bankman-Fried later challenged aspects of the company's report in a blog post.
Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research, pushed back against FTX's calculations late Tuesday, saying that the company's lawyers at Sullivan Cromwell had presented an "extremely misleading" picture of the company's finances.
Bankman-Fried said FTX has more than enough money to repay U.S. customers, whom he says are owed between $181 million and $497 million based on his "best guess." Bankman-Fried has not had access to FTX records since stepping down as CEO in November.
A spokesperson for Sullivan and Cromwell declined to comment. Attorneys at the firm said in a recent court filing that they have rebuffed Bankman-Fried's efforts to stay involved in the company's bankruptcy proceedings.
Bankman-Fried has pleaded not guilty to fraud charges, and he is scheduled to face trial in October.
FTX did not provide an estimate of the amount owed to FTX's U.S. or international customers, and it did not immediately respond to questions about Bankman-Fried's blog post.
FTX provided some additional details about its recovery efforts on Tuesday, saying it had recovered $1.7 billion in cash, $3.5 billion in liquid cryptocurrency and $300 million in liquid securities.
"We are making progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information," Ray said in a statement.
The crypto assets recovered to date include $685 million in Solana, $529 million in FTX's proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022. Solana, which was lauded by Bankman-Fried, lost most of its value in 2022.
During FTX's initial investigation into hacks of its system, it uncovered a November asset seizure by the Securities Commission of the Bahamas, which led to a dispute between FTX's U.S.-based bankruptcy team and Bahamian regulators.
The two sides settled their differences in January, and Ray said on Tuesday that the Bahamian government was holding $426 million for creditors.
Bahamas Prime Minister Philip Davis referenced the dispute during a Tuesday event at the Atlantic Council in Washington, saying Ray's team had "come around" and accepted that the Bahamian asset seizure "was appropriate and perhaps has saved the day for many of the investors in FTX."
Reporting by Dietrich Knauth in New York; Juby Babu in Bengaluru; and Jasper Ward in Washington Editing by Noeleen Walder, Amy Stevens, Matthew Lewis and Gerry Doyle
Our Standards: The Thomson Reuters Trust Principles.
AI robot trading is the use of artificial intelligence (AI) and machine learning algorithms to analyze financial markets and execute trades automatically. AI robots are able to analyze vast amounts of data and make decisions based on that analysis, allowing them to identify trading opportunities that might be missed by human traders. One key aspect of AI robot trading is machine learning, which is a type of AI that enables systems to learn and improve their performance over time. Machine learning algorithms are able to analyze data and use it to make predictions or decisions without being explicitly programmed to do so. This allows them to adapt and improve their performance as they are exposed to more data. There are several techniques that can be used in AI robot trading, including: Decision trees: These are algorithms that use a tree-like structure to make decisions based on multiple conditions. Neural networks: These are algorithms that are inspired by the structure and function of the human brain, and are capable of learning and adapting based on input data. Genetic algorithms: These are algorithms that use principles of genetics and natural selection to optimize and improve their performance over time. Reinforcement learning: This is a type of machine learning that involves an AI agent receiving rewards or punishments for certain actions, and using that feedback to learn and adapt its behavior. By using these and other techniques, AI robot traders are able to analyze financial data and make informed decisions about when to buy and sell assets. This can help them achieve better returns and outperform human traders in some cases.