FTX debtors report $11.6B in claims, $4.8B in assets with many crypto holdings 'undetermined' The presentation reported $25 million in donations — political and otherwise — from three of the FTX silos, but added “limited information” was available on crypto donations. News Own this piece of history Collect this article as an NFT The debtors in FTX’s bankruptcy case hreported the various company silos had more than $4 billion […]
Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees FTX's legal counsel requested insurers to advance or reimburse Bankman-Fried's defense costs and fees under the company's directors and officers (D&O) insurance. News Own this piece of history Collect this article as an NFT Sam Bankman-Fried is seeking to use FTX's insurance policies to cover his legal expenses, according to a court filing on March […]
Binance US, Alameda, Voyager Digital and SEC — the ongoing court saga Over the last year, a series of court cases have struck the crypto industry. Bankruptcy, liquidity issues and fraud have caused the industry to fall under the microscope of regulators around the world. The former cryptocurrency brokerage company Voyager Digital, Alameda Research - the investment arm of FTX- and cryptocurrency exchange Binance have been among […]
Alameda Research files suit against Grayscale over ‘self-imposed redemption ban’ Alameda Research has filed suit against Grayscale Investments in the Court of Chancery in the State of Delaware, it announced March 6. It also made claims against Grayscale CEO Michael Sonnenshein, Grayscale owner Digital Currency Group (DCG) and the group’s CEO Barry Silbert. Alameda Research is an affiliate debtor of FTX, which filed for bankruptcy […]
US trustee appeals FTX bankruptcy judge's ruling to deny appointment of independent examiner Lawyers for Andrew Vara, the United States Trustee representing the interests of the Department of Justice in crypto exchange FTX’s bankruptcy proceedings, has filed an appeal against a federal judge’s denial of a motion appointing an independent examiner in the case. In a March 6 filing in U.S. Bankruptcy Court for the District of Delaware, […]
DOJ seeks to narrow Sam Bankman-Fried's bail terms, use only flip phones The United States Department of Justice has proposed new bail conditions for former FTX CEO Sam Bankman-Fried (SBF), a court filing made late March 3 shows. According to the proposal submitted to District Judge Lewis Kaplan of the Southern District of New York, Bankman-Fried should be prohibited from using smartphones, tablets, computers and any type […]
Silvergate closes Exchange Network, releases $9.9M to BlockFi Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets' payment network, claiming the termination is a "risk-based decision". The move comes after the bank's stock fell over 59% in the past five days due to fears of a potential bankruptcy. A disclaimer on Silvergate's website stated: “Effective immediately Silvergate Bank […]
Total crypto market cap takes a hit amid Silvergate Bank crisis Cryptocurrency markets experienced a relatively calm month in February as the total market capitalization gained 4% in the period. However, the fear of regulatory pressure appears to be having an impact on volatility in March. Bulls will undoubtedly miss the technical pattern that has been guiding the total crypto market capitalization upward for the past […]
Michael Saylor Still Believes BTC Has a Ton of Power Michael Saylor – the former CEO of MicroStrategy – is confident that despite all that’s happened over the past year or so, bitcoin is still a major safe haven for traders and investors. Michael Saylor Still Believes in BTC It’s interesting to see Saylor remain such a bull when it comes to bitcoin given how […]
FTX debtors release update on exchange’s shortfalls magnitude FTX Debtors have released a fresh presentation updating stakeholders on the magnitude of shortfalls in the bank accounts and crypto wallets connected to Sam Bankman-Fried’s FTX and FTX US exchanges. As part of its ongoing Chapter 11 bankruptcy case, FTX Trading Ltd. and its affiliated debtors have met with the Official Committee of Unsecured Creditors […]
FTX presentation shows 'massive shortfall' in firm's assets Bankrupt cryptocurrency exchange FTX has revealed a "massive shortfall" in its digital asset and fiat currency holdings with billions worth of customer funds missing from both the exchange and its United States-based arm, FTX US. On Mar. 2 the exchange released a presentation showing FTX had $2.2 billion in exchange wallets and fiat accounts of […]
Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s […]
Michael Saylor: FTX Helped Crypto in the Long Run 2022 was a rough year for crypto filled to the brim with failing prices and fraudulent companies. All in all, however, Michael Saylor – the previous head of MicroStrategy – feels everything that’s happened ultimately pushed the space forward in many ways. Michael Saylor on FTX: It Helped Crypto One of the big things that […]
SEC, CFTC press civil charges against former FTX exec Singh parallel to criminal case Civil charges were announced against former FTX director of engineering Nishad Singh on Feb. 28, the same day he entered a guilty plea to three counts of criminal fraud in Manhattan district court. Both the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are pressing charges against Singh. Singh […]
Former FTX Chief Engineer Nishad Singh Pleads Guilty To 3 Counts Of Fraud Charges Summary: Nishad Singh who served as FTX’s former director of engineering agreed to plead guilty to U.S. criminal charges on Tuesday. Reuters reported that Singh will plead guilty to one count of conspiracy to commit commodities fraud, one count of conspiracy to commit wire fraud, and one count of wire fraud. Other former employees like […]
Randall Crater of My Big Coin Will Serve Eight Years in Jail Randall Crater – the founder of defunct crypto business My Big Coin – was sentenced to eight years in prison for defrauding both customers and investors out of millions of dollars. Randall Crater Is Heading to Prison U.S. District Judge Denise Casper in Boston oversaw the case involving Crater and his now failed company. Initially, […]
Cathie Wood: BTC Will Be Priced at $1.5 Million in Seven Years Cathie Wood of Ark Investment Management said that she feels bitcoin – the world’s number one digital currency by market capitalization – could wind up hitting a price of $1.5 million by the year 2030. Cathie Wood Is Predicting Big Things for BTC This is a tad different from the comments she made in early […]
FTX Files Suit Against Voyager Digital For Nearly $500 Million FTX – the now defunct crypto exchange that was previously run by founder and head executive Sam Bankman-Fried – is suing former crypto lending platform Voyager Digital for nearly $500 million. FTX and Voyager Are Now at Odds Voyager Digital filed for bankruptcy back in the summer of 2022. The company collected (allegedly) nearly $250 […]
Simple trading strategies with Cryptomom — Watch Market Talks live In this week’s episode of Market Talks, Cointelegraph welcomes Brenda Gentry, or as she’s known on Twitter, Cryptomom. Gentry has over 15 years of experience in traditional banking. She started researching and investing in cryptocurrencies during the 2020 lockdowns and made substantial returns in 2021 after which she launched Gentry Media Productions. She is currently on a […]
Chainalysis: Crypto Crime Outlets Have Become Limited Blockchain analysis firm Chainalysis says in a new report that crypto crime fighting has been effective to some degree. While the amount of crime hasn’t necessarily fallen in recent years, the fight against it has limited criminals to certain platforms when cashing out, transferring their stolen funds into fiat, or engaging in illicit transactions. New […]
