Temasek Holdings, Singapore's sovereign wealth fund, has publicly announced a reduction in compensation for its senior management and the investment team responsible for recommending its ill-fated investment in the now-defunct FTX bitcoin exchange. In a departure from the norm among sovereign funds, Temasek has chosen to disclose these cuts in ...
FTX and its new management have initiated legal action against its former CEO, Sam Bankman-Fried, co-founder Zixiao Wang, and former senior employee Nishad Singh regarding the controversial $220 million acquisition of stock-clearing platform Embed. The lawsuit alleges that FTX acquired Embed through its American subsidiary without conducting adequate due diligence ...
Former FTX compliance chief, Daniel Friedberg, has agreed to collaborate with class action lawyers in a lawsuit against celebrities accused of promoting the bankrupt crypto exchange. According to an amended complaint filed in a Florida District Court on May 11, 2023, Friedberg has provided evidence that promotional activities for FTX ...
The Internal Revenue Service (IRS) in the United States has issued demands for back taxes from Alameda Research, FTX, and their affiliates, including West Realm Shires, Blockfolio, and Ledger Holdings. The total amount of the demands is a staggering $44 billion, spread across 45 separate claims. The IRS released a ...
On May 2, 2023, a Florida district court judge granted the Moskowitz Law Firm permission to tweet a legal notice to YouTuber Tom Nash, as all other attempts to contact him have been unsuccessful. The plaintiffs sent a legal notice to the YouTuber the same day through his Twitter account, ...
The Creditors of Celsius Network have claimed that some FTX users were involved in dubious transactions that might have influenced the price of the Celsius (CEL) token in 2022. On April 26, 2023, the creditors, represented by a committee, filed court documents requesting subpoenas to obtain information from FTX to ...
The free-to-play online game Storybook Brawl has announced that it will be shutting down its servers on May 1, 2023. The developers stated this via the game's official Twitter handle. They thanked the game’s fans for their support and added that they have 'exhausted all available options' to ensure that ...
The Ontario Teachers' Pension Plan (OTPP), which oversees assets worth over $190 billion, has decided to steer clear of cryptocurrency investments following the loss of its entire $95 million investment in the now-defunct FTX cryptocurrency exchange, which collapsed in November 2022. OTPP invested in FTX twice; during the 2021 bull ...
According to a report, Silvergate Bank, which is no longer operational, is facing three lawsuits from former investors who allege that the bank aided FTX, a now-bankrupt crypto exchange, in defrauding investors. The lawsuits have been consolidated by California Judge Jacqueline Scott Corley of the Northern District since they involve ...
The legal costs incurred by the bankrupt cryptocurrency exchange FTX in February 2023 have been released, and they remain a cause of concern for the company's debtors. Court documents from April 4 to April 10, 2023, show that the law firms involved in FTX's bankruptcy proceedings billed almost $32.5 million ...
