FTX Bankruptcy Team Says the Exchange Owed Customers $8.7B
[Jun 26, 2023 11:40 AM] Commingling and misuse of customer and corporate funds occurred from the inception of FTX, says current CEO John J. Ray III.
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Indonesia Labels 501 Cryptocurrencies as Commodities, Paving the Way for Regional Adoption
[Jun 26, 2023 11:30 AM] In contrast to the regulatory stance taken by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Supervisory Agency (CFTSA) of the Republic of Indonesia has officially labeled 501 cryptocurrencies as commodities. The…
Tokenized FTX claim is used as collateral for a loan
[Jun 24, 2023 1:43 PM] A creditor of now-bankrupted crypto exchange FTX pledged a $31,307 claim as collateral for a DeFi loan.
FTX Seeks to Claw Back $700M in Lawsuit Over Alleged Funds Misappropriation and Influence-Building Scheme
[Jun 24, 2023 4:30 AM] According to a lawsuit filed this week with the U.S. Bankruptcy Court for the District of Delaware, FTX lawyers are seeking to claw back $700 million from K5 Global Technology, its subsidiaries, and the firm’s founders. The attorneys allege…
Judge blocks Bankman-Fried’s attempt to obtain key documents in fraud prosecution: Report
[Jun 23, 2023 1:30 PM] The request was denied by U.S. District Judge Lewis Kaplan, who characterized it as a “fishing expedition” lacking justification.
Sequoia partner says investing in FTX was the right move: Report
[Jun 23, 2023 1:00 PM] Sequoia’s Alfred Lin stood up for the firm’s $213.5 million investment in the now-bankrupt crypto exchange FTX.
SEC waives BlockFi’s $30M fine until creditors are paid
[Jun 23, 2023 10:30 AM] The U.S. SEC was at the top of BlockFi creditor’s list with a $30-million settlement balance from February 2022.
Sam Bankman-Fried Can't Subpoena Law Firm Fenwick & West for Documents, U.S. Judge Rules
[Jun 23, 2023 10:13 AM] The founder of collapsed crypto enterprise FTX had argued legal advice from the Silicon Valley law firm was "at the core" of the government's criminal allegations against him.
Alameda Seeks Return of $700M Paid to ‘Super Networkers’ for Celebrity, Political Access
[Jun 23, 2023 2:41 AM] Sam Bankman-Fried promised billions to Michael Kives and Bryan Baum after being awed by their connections to politicians, billionaires and reality TV stars.
SEC Relinquishes $30M BlockFi Penalty Until Investors Are Repaid
[Jun 23, 2023 2:26 AM] The regulator agreed to forego the payment, owed as part of a settlement of charges against BlockFi, to maximize and speed up payments to investors.
FTX seeks to claw $700M from Bankman Fried friends and affiliated funds
[Jun 22, 2023 5:30 PM] After a Hollywood dinner party, hundreds of millions of dollars of “avoidable” transfers were sent from Alameda to investment firm K5 Global, the suit alleges.
US lawmaker demands answers from SEC on docs related to Sam Bankman-Fried's arrest
[Jun 22, 2023 8:36 AM] The chair of a U.S. House oversight subcommittee said all of the documents the SEC had provided on Sam Bankman-Fried's charges and arrest had been publicly available at the time.
FTX bankruptcy will be ‘very expensive’ but there’s a reason: Auditor
[Jun 21, 2023 12:01 AM] The legal fees charged in the first months of FTX’s bankruptcy have been examined by an auditor, who has confirmed the case is “on track to be very expensive.”
Realtor may have accepted $3M offer for Washington DC property linked to Sam Bankman-Fried
[Jun 19, 2023 10:23 AM] The Washington D.C. townhouse owned by Guarding Against Pandemics was listed as “contingent” on a real estate website, suggesting the party handling the deal has accepted an offer.
Twitter Divided as Speculations Swirl Around FTX 2.0 Reboot: Supporters Rally for Revival, Opponents Skeptical
[Jun 18, 2023 12:30 PM] Twitter users have been engaged in a lively discussion about the possibility of a reboot for the FTX estate, following recent reports in late May. Opinions on the matter are divided, with opponents of the idea expressing their reservations, while…
5 Charges Temporarily Suspended in FTX Co-Founder Sam Bankman-Fried’s Legal Battle
[Jun 17, 2023 11:30 AM] The U.S. Department of Justice (DOJ) and federal prosecutors in New York have opted to temporarily suspend five charges against the beleaguered FTX co-founder Sam Bankman-Fried (SBF). Nevertheless, these five charges have been “severed”…
Ripple CEO Brad Garlinghouse: SEC ‘Weaponized the Lack of Regulatory Clarity,’ Threw ‘an Entire Industry Into Chaos’
[Jun 16, 2023 4:00 AM] Ripple CEO Brad Garlinghouse has criticized the role that the U.S. Securities and Exchange Commission (SEC) decided to assume against the cryptocurrency industry. After the release of the Hinman docs, which explain the internal discussions of the…
Double trouble: FTX founder Sam Bankman-Fried faces two criminal trials
[Jun 15, 2023 9:19 PM] A District Judge ordered a separate trial for the DOJ's charges against Sam Bankman-Fried which were added following his extradition to the U.S.
Judge will consider whether to try Sam Bankman-Fried separately for superseding charges: Report
[Jun 15, 2023 2:07 PM] Prosecutors said they were prepared to try SBF on his original eight-count indictment starting in October, with the remaining five charges to be decided by Judge Lewis Kaplan.
Judge Punts on FTX Founder Sam Bankman-Fried's Efforts to Dismiss Some Charges
[Jun 15, 2023 10:55 AM]
US prosecutors say SBF will be tried on original 8 criminal charges — for now
[Jun 15, 2023 1:46 AM] DoJ lawyers said the decision came following litigation filed by the FTX co-founder in the Bahamas protesting the additional charges, which could be lengthy.
U.S. Justice Department Agrees to Try Sam Bankman-Fried on Original Charges Only for Now
[Jun 14, 2023 10:50 PM] Prosecutors with the U.S. Department of Justice wrote late Wednesday night that they would agree to try FTX founder and former CEO Sam Bankman-Fried on only the original eight charges filed in January after a court in the Bahamas blocked the local…
Sam Bankman-Fried Can Contest Extra DOJ Charges, Bahamas Supreme Court Says
[Jun 14, 2023 1:24 AM] The FTX founder pleaded not guilty to fraud in the U.S. after being extradited from the Caribbean country.
SBF seeks to sever new charges from trial, says proceedings may take ‘years’
[Jun 13, 2023 2:16 PM] The U.S. cannot try Sam Bankman-Fried for the charges until a lengthy appeals process in the Bahamas has been exhausted, defense attorneys stated.
Sam Bankman-Fried's Bahamas Litigation May Take ‘Months or Years,’ His Counsel Says
[Jun 13, 2023 12:23 AM] The FTX founder’s lawyers argue that a new Supreme Court judgment shows that he has not committed fraud.
Judge Upholds Confidentiality of FTX Customers’ Identities, Citing Security Concerns
[Jun 10, 2023 12:00 PM] In the FTX bankruptcy case, the presiding judge John Dorsey has ruled to maintain the confidentiality of individual customer identities, according to a recent decision on Friday. Dorsey emphasized the importance of safeguarding these clients…
Kevin O’Leary doesn’t rule out criminal charges for Binance
[Jun 9, 2023 9:20 AM] In an interview with Cointelegraph, Kevin O’Leary said he wouldn’t rule out the possibility of more serious charges against Binance and its CEO, Changpeng Zhao.
Report: Pan-African Crypto Exchange Mara Lays Off Majority of Employees
[Jun 9, 2023 2:30 AM] African crypto exchange Mara has not only parted ways with a reported 85% of its staff but has cut the salaries of workers that have remained. Although Mara has cast the layoffs as an exercise which aims to remove redundant roles, former employees…
Ripple CEO Brad Garlinghouse: ‘The SEC Is Throwing Lawsuits at the Wall’
FTX argues releasing ‘valuable’ customer list will harm its sale value
[Jun 8, 2023 11:35 PM] Releasing the nine million-strong list of customers would “impair” the ability to maximize value for FTX creditors, a banker for the exchange said.