The ongoing criminal trial of FTX founder Sam Bankman-Fried, known as SBF, took a dramatic turn on October 11, 2023, as new allegations of bribery and deception emerged. Former Alameda Research CEO Caroline Ellison testified against Bankman-Fried, claiming that he had attempted to unfreeze $1 billion in Alameda funds in ...
THORSwap, on October 6, 2023, announced that it has decided to temporarily suspend its trading operations due to a series of suspicious transactions involving illicitly obtained funds on the platform. In a public announcement shared on its official social media channels, including X (formerly Twitter), THORSwap clarified that its top ...
The management of bankrupt cryptocurrency exchange FTX has initiated legal proceedings against former employees of a Hong Kong affiliate, Salmeda. FTX alleges that these individuals withdrew $157.3 million under fraudulent circumstances just hours before the exchange filed for bankruptcy. The defendants in this lawsuit, Michael Burgess, Matthew Burgess, Lesley Burgess, ...
Stanford University is taking steps to return millions of dollars in donations it received from the now-bankrupt cryptocurrency exchange FTX and associated entities, according to a report by Bloomberg. A spokesperson from the University told Bloomberg that Stanford has been engaged in discussions with FTX's attorneys to facilitate the return ...
In a startling development, FTX Debtors have initiated legal proceedings against the parents of Sam Bankman-Fried (SBF). The debtors noted that the action was aimed at recovering substantial amounts of funds that could affect the Chapter 11 bankruptcy process for the embattled exchange. According to court documents filed late on ...
Bryan Pellegrino, the CEO of LayerZero Labs, has voiced his disappointment with the approach taken by the new management of the bankrupt FTX estate in resolving share ownership issues with LayerZero. The FTX management filed a lawsuit on September 9 against LayerZero Labs over a deal made with Caroline Ellison, ...
Federal Judge Lewis Kaplan has set a September 7 for former FTX CEO Sam Bankman-Fried to request a jury for his trial scheduled for October. During an August 30 hearing, Judge Kaplan reportedly queried Bankman-Fried's lawyers about potentially needing more time, to which they responded, "not at this time." ...
Bankrupt crypto exchange FTX has taken legal action to exclude its Dubai division from its ongoing bankruptcy proceedings in the United States. In the court documents filed on August 3, 2023, FTX claimed that its Dubai unit did not conduct any business in the United Arab Emirates (UAE) before the ...
Former FTX CEO, Sam Bankman-Fried, is now facing additional charges from the US Department of Justice (DoJ) over alleged involvement in leaking Caroline Ellison's private diary to The New York Times. The newspaper published an article on July 20, 2023, discussing the contents of Ellison's personal writings, which are expected ...
FTX Debtors, released their second investigative report on June 26, 2023, and it contains allegations of misappropriation of funds and extravagant spending on unrelated projects by former executives of the bankrupt company. The report focused on the misuse of client funds and shed light on charitable contributions made through the ...
