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Decentralized finance (DeFi) protocol dYdX founder Antonio Juliano took to X (formerly Twitter) to share some of the findings of the investigation into the loss of $9 million in insurance funds, in what many suspected was an exit scam that took place on Nov. 17.Juliano noted that the actual dYdX
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Shin is attempting to distance himself from Terra and Kwon as he faces trial in South Korea. Source
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According to SBF, Ellison’s failure to hedge Alameda’s financial positions was a major contributing factor in the FTX’s financial troubles. In a dramatic turn of events at the ongoing criminal trial of FTX founder Sam Bankman-Fried, the renowned crypto entrepreneur pointed fingers at his former close associates, especially Caroline Ellison, his
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The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South Korea on Oct. 30, according to local news reports. Shin is accused of defrauding investors. Also at issue was whether or not
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FTX founder Sam Bankman-Fried testified before Judge Kaplan and a jury in a New York federal court claiming his team sometimes made decisions out of his purview and against his instructions. Following a fraught mock testimony for Bankman-Fried, Judge Lewis A. Kaplan of the Southern District of New York ruled to
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The second week of Sam Bankman-Fried’s criminal trial for fraud concluded with witness testimony from Zac Prince, whose crypto lending firm BlockFi loaned $1.1 billion to Alameda before FTX’s collapse. From Alameda’s bizarre $65 billion “credit line” on FTX customer crypto to $100 million Chinese bribes, SBF gave the orders according
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Former FTX CEO Sam “SBF” Bankman-Fried watched from the defense table as his former business associate and girlfriend Caroline Ellison testified at his criminal trial.According to reports from the courtroom on Oct. 10, Ellison admitted to fraud during her time at Alameda at Bankman-Fried’s direction. The former Alameda CEO reportedly
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Crypto-friendly Silvergate Bank ultimately collapsed this year due to over-dependence on risky crypto deposits and nepotism that led to ineffective management, according to inspectors at the Federal Reserve.In a Sept. 27 executive summary of its review into the collapse of Silvergate Bank, the Federal Reserve Board’s Office of Inspector General
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Dubai-based cryptocurrency exchange JPEX has slammed regulators and “third-party market makers” for a liquidity crisis that has seen the platform hike withdrawal fees and suspend certain operations. In a Sept. 17 blog post, JPEX said “unfair treatment” from certain institutions in Hong Kong, along with negative news — caused its third-party market
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Most notably, Bankman-Fried still seems unwilling to take any responsibility for what happened — or even register that $8 billion *somehow* went missing, people lost life savings or that he could spend the next decades of his life rotting in prison. And, somehow, his biggest regret still seems wrapped up
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