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SBF attempted to depeg the largest stablecoin by daily traded volume, Tether USDT, before filing for bankruptcy protection.The latest details of FTX and Alameda’s pre-bankruptcy protection shows that Sam Bankman-Fried (SBF) allegedly attempted to depeg stablecoins. According to a WSJ report, SBF was confronted by other crypto executives from a
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According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablecoins.” Purportedly, high-up executives from crypto exchanges are members of a Signal chat group called “Exchange coordination,” and Binance CEO Changpeng Zhao
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John Ray III, a restructuring expert who oversaw the Enron Corp. bankruptcy, took over as CEO when FTX filed for bankruptcy protection last month. Jacques’ team is tasked with tracking the funds that went missing from FTX as the firm cratered amid a liquidity freeze. Source
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According to the filing, Celsius has about 58,300 users who collectively deposited over $210 million with its custody and withhold, with 15,680 customers holding "Pure Custody Assets" worth around $44 million. The Bankruptcy Court for the Southern District of New York, which is overseeing the case, scheduled a hearing for
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A federal judge has ordered crypto lender Celsius to return crypto worth around $44 million to the platform’s custody program customers.According to Bloomberg, the verbal order was delivered by United States Bankruptcy Judge Martin Glenn in a Dec. 7 hearing, with the judge noting: “I want this case to move
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Crypto Twitter wanted to know the potential consequences of having Alameda and Sam Bankman-Fried as partners in a fund. So we asked a Hong Kong-based lawyer who specializes in asset tracing and recovery; bitcoin dips but not much. Source
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"There are many risks, including from macro markets and the risk perceived in holding crypto on an exchange, post-FTX. Moving to stablecoins is a most defensive posture, vs. moving into BTC, which is still a volatile asset in the end," Rosenblum told CoinDesk when asked if stablecoins have replaced BTC
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Mike Novogratz-led investment firm Galaxy Digital Holdings has won the bidding to buy GK8, an institutional digital asset self-custody platform owned by Celsius Network — pending court approvals and certain closing conditions.According to a Dec. 2 blog post from GK8 and a press release from Galaxy, if the acquisition goes ahead,
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Liquidators for Three Arrows Capital (3AC) will have to present further documents in order to be granted permission to subpoena the now-bankrupt crypto hedge fund’s founders through Twitter, according to a decision from Judge Martin Glenn during a virtual hearing for the Southern District of New York Bankruptcy Court on
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