The management of the bankrupt cryptocurrency exchange FTX has requested approval from a Delaware bankruptcy court to sell some trust fund assets valued at approximately $744 million. The targeted trust funds assets include holdings managed by two reputable entities: Bitwise, a crypto custody service provider, and Grayscale, a crypto asset ...
Sam Bankman-Fried, founder and former CEO of FTX, has been found guilty of all seven charges brought against him by federal law enforcement authorities in a Manhattan Federal Court on Thursday, November 2, 2023. After a month-long, the 12-man jury gave a verdict finding Bankman-Fried guilty of charges including wire ...
A $6.5 million donation made by FTX to the nonprofit organization Center for Applied Rationality (CAIS) in 2022, just months before the exchange filed for bankruptcy, is now the subject of fresh legal battles for the embattled exchange. According to court documents filed on October 25, 2023, FTX's new management ...
Anthony Scaramucci, founder of SkyBridge Capital, has expressed skepticism about Sam Bankman-Fried's chances in his ongoing criminal trial in U.S. courts; he suggested that Bankman-Fried is no match for the government prosecutors. Scaramucci voiced these concerns in an interview with CNBC on October 25, 2023. He further argued that Bankman-Fried's ...
Exchange tokens are issued by cryptocurrency exchanges such as Binance, Kucoin, and FTX, entitling holders to various incentives, benefits, or perks within the cryptocurrency exchange ecosystem. Examples of such incentives include trading fee reductions, rebates, and early access to token sales hosted on the platform, known as Initial Exchange Offerings ...
Customers of the bankrupted cryptocurrency exchanges FTX and FTX.US may recover over 90% of their trapped assets under a proposed bankruptcy settlement announced on October 17, 2023. This settlement deal between FTX and its creditors outlines a plan that could potentially return almost all of its available funds to retail ...
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 ...
