FTX Granted Legal Authorization for Billion-Dollar Crypto Liquidation: What It Means for Borroe.Finance ($ROE) and Bitcoin Cash ($BCH)?
Today in Crypto: SBF's Attorneys Ask for His 'Temporary Release', Bybit and OKX Exclude Sanctioned Russian Banks From Payment Options, Verified Scam Accounts Targeting Crypto Twitter are 'Out of Control' Sam Bankman-Fried. Source: a video screenshot, Forbes Breaking News / YouTube Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________ Legal news Attorneys for FTX’s ex-CEO Sam Bankman-Fried filed a motion asking for his "temporary release,” arguing in a letter that “in […]
FTX Bankruptcy: Daily Legal Costs Mount to $1.5 Million, Raising Concerns Among Creditors Former FTX CEO Sam Bankman-Fried. Source: A Video Screenshot, YouTube / CBS News The FTX bankruptcy saga has taken an alarming turn as daily legal expenses surge to a staggering $1.5 million, with creditors now sounding the alarm. Lawyers and other bankruptcy professionals are racking up these costs while dissecting the remains of the major […]
Today in Crypto: Sinapore's Banking Giant DBS Unveils Its Metaverse Concept, UK Explores 'Best Way' to Ban Cold Calling for All Financial Products Including Crypto, SBF's Layers Can 'Make Unlimited Advantage of Visitation Hours'
FTX Founder SBF to Pin Blame For FTX Collapse on Bad Legal Advice FTX Logo / Source: Adobe Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, is going to attempt to get off the hook by saying he was acting in “good faith” by following the advice of his former lawyers. SBF was charged by the US Department of Justice on numerous accounts […]
FTX Co-Founder Sam Bankman-Fried Appeals for Temporary Jail Release Source: Getty Image FTX co-founder Sam Bankman-Fried is seeking temporary release from jail in order to work on his defense with his lawyers at the federal courthouse in Manhattan. On Friday, Bankman-Fried's lawyers sent a letter to US District Judge Lewis Kaplan, stating that their client was unable to adequately review the extensive documents related to his case while detained at […]
Mantle User Raises Eyebrows On Proposed Auto Migration Of FTX $43 Million BIT Tokens Source: FTX A Mantle community member has proposed the restriction on an automatic migration of FTX BIT tokens to Mantle (MNT) citing disqualifying factors. A debate sparked by members of the Mantle Decentralized Autonomous Organization (DAO) on the ongoing token migration of certain companies including the FTX exchange has gone mainstream as the platform seeks […]
FTX-Linked Bank Receives Federal Enforcement Action for Digital Asset Activities Image Source: Unsplash The Federal Reserve Board has taken enforcement action against Farmington State Bank, a small bank linked to now-defunct crypto exchange FTX, for engaging in undisclosed digital asset activities. According to a Thursday press release, the Federal Reserve Board, in collaboration with the Washington State Department of Financial Institutions, has directed Farmington State Bank, known as Moonstone […]
BlockFi Complies with Court Order, Permits Crypto Withdrawals for Eligible US Users Source: Shutterstock On August 17, BlockFi, a New Jersey-based crypto lending company, stated that it had initiated withdrawals for eligible users' wallets in the US in compliance with a court order issued by the US Bankruptcy Court for the District of New Jersey. However, due to ongoing legal proceedings, these withdrawals only apply to some […]
FTX Seeks $176 Million Settlement with Genesis Entities Amid Legal Dispute Source: Adobe / Александр Поташев According to a legal filing on August 16, FTX, the bankrupted cryptocurrency exchange, and its CEO, John J. Ray III, have submitted a motion to settle with Genesis entities for $176 million. With motion hearing scheduled for September 9, FTX Trading and related debtors have formally requested court intervention to […]
Federal Reserve issues enforcement action against FTX-linked US bank Moonstone Bank, which was since renamed Farmington State Bank, received roughly $11.5 from FTX’s sister firm Alameda Research through its holding company in 2022. News Join us on social networks The Federal Reserve Board of the United States and the Washington State Department of Financial Institutions have announced an enforcement action against Farmington State Bank, […]
FTX seeks $175M settlement with Genesis entities to resolve dispute However, FTX creditors express discontent and urge the Official Committee of Unsecured Creditors of FTX (UCC) to contest the agreement. News Join us on social networks FTX, the troubled cryptocurrency exchange, and its CEO John J. Ray III have filed a motion seeking to reach a settlement of $176 million with Genesis entities. As per […]
Prosecution's Strategy: Caroline Ellison's Personal Notes to Serve as Key Evidence Against Former FTX CEO Sam Bankman-Fried Source: Adobe / Александр Поташев In an August 14 submission to the U.S. District Court in the Southern District of New York, prosecutors stated their plan to introduce Caroline Ellison's to-do lists and notes as evidence, including a note labeled "Things Sam is Freaking Out About." The legal case concerning ex-FTX CEO Sam Bankman-Fried has […]
Former FTX Executive Invokes Fifth Amendment Right, Remains Silent in Trial – Here's the Latest Image Source: Twitter Ryan Salame, a former executive of now-defunct cryptocurrency exchange FTX, has declined to testify about his involvement in an alleged illegal campaign donation scheme. According to a motion filed by U.S. federal prosecutors on Monday, Salame's attorney has said that, if subpoenaed, he intends to invoke his Fifth Amendment right. The Fifth Amendment is a […]
Sam Bankman-Fried Faces New Allegations: DOJ Claims Stolen Funds Used for Political Donations Source: Getty Image Sam Bankman-Fried, former CEO of now-defunct crypto exchange FTX, is facing new allegations from the Department of Justice (DOJ), including the embezzlement of customer funds. According to an indictment filed on Monday, Bankman-Fried is accused of misappropriating and embezzling customer deposits from FTX, using the stolen funds to make over $100 million in political campaign […]
Superseding indictment against Sam Bankman-Fried includes using $100M for campaign contributions Sam Bankman-Fried allegedly used more than $100 million “in campaign contributions to Democrats and Republicans to seek to influence cryptocurrency regulation”. Breaking news Join us on social networks The United States Attorney’s Office has released a new superseding indictment against former FTX CEO Sam Bankman-Fried (SBF) which includes allegations of campaign finance law violations as […]
Leading Venture Capital Firms Including Softbank and Sequoia Named as Defendants In Fresh Lawsuit for Links With FTX Source: Pixabay A class-action lawsuit filed in the United States District Court for the Northern District of California has named 18 venture capital investment firms as defendants for their links with the bankrupt crypto exchange FTX. The lawsuit has named major VC firms as defendants, including Temasek, Sequoia Capital, Sino Global and Softbank. The class-action […]
Former FTX exec Ryan Salame and US prosecutors are discussing a plea deal: Report It's unclear whether any reported guilty plea from Ryan Salame would have the former FTX Digital Markets co-CEO testify at Sam Bankman-Fried's trial in October. News Join us on social networks Ryan Salame, the former co-CEO of FTX Digital Markets, is reportedly discussing a guilty plea with authorities in the United States. According to an […]
Sino Global Capital Takes Legal Action, Files $67.3 Million Claim Against FTX Trading Ltd Image Source: Unsplash/ Maria Shalabaieva Sino Global Capital, led by Matthew Graham, has taken legal action against now-defunct crypto exchange FTX, filing a claim worth $67.3 million on behalf of its Liquid Value fund. The fund, launched in collaboration with former FTX CEO Sam Bankman-Fried in 2021, intended to raise $200 million and primarily targeted high-net-worth individuals. This marked a significant […]
Today in Crypto: Bank of Russia Reveals Official CBDC Logo, Revolut Shuts Down Crypto Platform for its US Customers, US DoJ Asks Sam Bankman-Fried's 'Bail be Revoked and Defendant be Detained'
Bankrupt Crypto Exchange FTX Wants Dubai Entity Detangled From US Bankruptcy Filings: Here’s The Latest
FTX Proposes Rebooting Exchange for Offshore Customers in Bankruptcy Plan, FTT Token Holders Left Empty-Handed Image Source: Adobestock The bankrupt crypto exchange FTX’s new management has proposed to reboot the exchange for offshore customers only, but holders of the FTT token would not benefit from the plan. In a recent filing, FTX’s management proposed to group the various creditors into different classes as a way for them to receive the […]
Breaking: US Department of Justice Considering Fraud Charges Against Binance Crypto Exchange Binance Logo / Source: Adobe The US Department of Justice (DoJ) is mulling whether to press fraud charges against Binance, as per a Semafor report. However, as per the report, the DoJ is worried that if it indicts Binance, it could trigger a rush to withdraw balances on the exchange, similar to the rush that […]
Today in Crypto: FTX Proposes Possible Restart of FTX.com for 'Dotcom Customers', US IRS Says Income From Staking Crypto Must be Reported, Justin Sun Announces Tron-Curve Partnership and Buys $3M Worth of CRV for $2M
DOJ seeks SBF's bail revocation over tampering, diary leak allegations The letter revealed that on January 15, 2023, the defendant reached out to the current General Counsel of FTX U.S., who could potentially serve as a witness in the trial. News Join us on social networks In a letter to Judge Lewis Kaplan, the United States Department of Justice (DOJ) sought the revocation of Sam […]
