In its ongoing attempt to recover assets amid its bankruptcy proceedings, the FTX bankruptcy estate has launched a $1.8 billion lawsuit against Binance and its former CEO, Changpeng “CZ” Zhao. In a filing on November 10, the complaint accuses Binance executives of receiving a substantial $1.76 billion in a “fraudulent ...
Gary Wang, former FTX co-founder and technology chief, has requested no jail time in a sentencing memo filed on November 6, citing his significant cooperation in securing Sam Bankman-Fried's conviction. Wang, who served as a key witness against Bankman-Fried, argued that his testimony was vital to the U.S. government’s successful ...
Cyprus's Securities and Exchange Commission (CySEC) has extended its suspension of FTX Europe's operations for a fourth time, delaying any potential revival of the platform. The latest extension, announced on November 5, pushes the suspension out by another six months, maintaining the ban until May 30, 2025. Under this directive, ...
Californian investor Nikolas Gierczyk has filed a lawsuit against hedge fund Olympus Peak, accusing the firm of failing to honour an agreement related to an FTX bankruptcy claim. According to a Bloomberg report, Gierczyk claims the hedge fund owes him over $1 million in excess recovery, citing expectations of a ...
Caroline Ellison, former co-CEO of Alameda Research, is seeking a sentence of time served and supervised release instead of prison as her sentencing approaches on September 24. In their recent court filing, her attorneys highlighted her "extraordinary cooperation with the government". They argued that a sentence of time served, followed ...
A New York judge has approved a $12.7 billion settlement plan that will see defunct cryptocurrency exchange FTX and its sister firm, Alameda Research, repay their creditors. This settlement, which is part of a larger agreement with the United States Commodity Futures Trading Commission (CFTC), marks a significant milestone in ...
BitFlyer, the Tokyo-based parent company of the eponymous cryptocurrency exchange, has finalized its acquisition of FTX’s Japanese division, purchasing all outstanding shares of FTX Japan. In a press release published today Friday, July 26, BitFlyer announced its plans to integrate FTX Japan into its operations and rebrand it as “Custody ...
According to Coinbase CEO Brian Armstrong, cryptocurrency would usher in a future where the global financial system is more efficient, fair, and accessible. In an interview with the Wall Street Journal earlier this week, Armstrong shared his optimistic vision for the future of cryptocurrency, a future where a significant portion ...
Yield App, a cryptocurrency wealth management platform backed by AGE Crypto and Alphabit, has declared its closure due to losses associated with the collapse of FTX. Yield App, which said in a post on X on June 28 that it was closing "all activity" as it "prepares to enter liquidation ...
FTX, the bankrupt cryptocurrency exchange, is set to appeal to a judge on Tuesday, June 25, for permission to let its customers vote on a cash repayment plan. According to Reuters, the U.S. Bankruptcy Judge John Dorsey will hold a hearing to approve the plan to initiate the voting process ...
