Day: November 19, 2025

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Arush Sehgal claims three well-funded finalists were prepared to acquire and relaunch FTX before the estate shut the process down

The post Arush Sehgal claims three well-funded finalists were prepared to acquire and relaunch FTX before the estate shut the process down appeared com. Arush Sehgal, a former member of FTX’s unsecured creditors’ committee (UCC), has delivered a blistering critique of the legal team that oversaw FTX’s bankruptcy, accusing them of derailing a revival plan that could have returned “tens of billions” of dollars to creditors. Sehgal, the Head of Crypto at Alpaca, made the allegations in a detailed post on X while quoting Kraken chief executive officer Arjun Sethi’s announcement that the exchange had raised $800 million at a $20 billion valuation. An account linked to the convicted founder of the defunct FTX exchange reposted Sehgal’s post. Three well-funded bidders left empty-handed According to Sehgal, he resigned from the UCC to work on a bid for FTX 2. 0 alongside Sethi and Tribe Capital, wrongly assuming the bankruptcy lawyers intended to allow the sale to proceed. He wrote, “Contrary to Andrew Dieterich’s lies about nobody wanting to buy FTX2. 0, there were 3 credible and well-funded finalists in the sale process.” Seghal said the three finalists were the Sethi-Tribe consortium backed by an undisclosed public exchange, Bullish led by Thomas Farley, and Figure headed by Mike Cagney. Since then, Bullish has gone public at a $6 billion valuation and is now worth $9 billion, while Figure completed its IPO at $5 billion and is valued at $8 billion, and Sethi “is now IPO’ing Kraken,” according to Seghal. When FTX was considering relaunching the platform following its famed crash, it reportedly reached out to more than 75 bidders starting in May 2023. “Each of these offers had significant equity components on the table that would have added tens of billions in value to all FTX creditors holdings but the lawyers killed the deal,” Seghal wrote in his post on X. “This was as much of a surprise to us as the general public and creditors given.

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Overbought RSI flashes caution, but upside bias intact

The post Overbought RSI flashes caution, but upside bias intact appeared com. USD/JPY extends its upward trajectory on Wednesday, with the pair surging to levels last seen in mid-January. At the time of writing, the pair trades around 156. 54, up nearly 0. 65%, marking a third straight day of gains as a strong US Dollar (USD) and a broadly weaker Japanese Yen (JPY) continue to provide a double boost. The technical backdrop remains firmly bullish. Since breaking out of the multi-month choppy consolidation range in early October, the pair has maintained a steady sequence of higher highs and higher lows, reflecting strong directional momentum. A bullish opening gap sparked the breakout above the 150. 00 psychological level, initially driven by reports that Sanae Takaichi was set to become Japan’s next Prime Minister. Markets interpreted this as a signal of potential fiscal expansion, weakening the Yen. Once she officially assumed office, confirmation of a large-scale fiscal stimulus plan strengthened those expectations further, keeping the Yen under persistent downward pressure. Price action remains comfortably above all major Simple Moving Averages (21-SMA, 50-SMA, 100-SMA) on the daily chart, underlining buyer dominance and reinforcing the bullish trend structure. On the topside, the January 23 swing high at 156. 75 serves as immediate resistance. A clear break above this level could pave the way for a retest of the year-to-date high at 158. 88, marked on January 10. On the downside, 155. 00 is the first line of support, followed by the 21-day SMA at 153. 86. While Japanese authorities have issued intermittent verbal warnings about excessive Yen weakness, concrete intervention remains absent, making a deeper corrective pullback possible but not the base case in the near term. Momentum indicators warrant some caution. The Relative Strength Index (RSI) sits near 72, holding in overbought territory, which could slow bullish follow-through or prompt brief consolidation. However, no clear bearish divergence has formed yet. US.

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