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FTX’s Bahamian company spent a staggering amount of money on luxury hotels and accommodation, flights, and food just nine months before the exchange’s collapse, court filings revealed. In bankruptcy court documents reviewed by Business Insider, FTX Digital Markets went through $40 million between January to September 2022, just two months before
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After Sam Bankman-Fried was handed over to United States officials last month, his top lieutenants — Caroline Ellison and Gary Wang — had already been cooperating with the feds. The two pleaded guilty to a slew of charges and agreed to assist the Southern District of New York to investigate
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A bankruptcy judge ruled that Celsius Network customers who had interest-bearing accounts on the platform had turned over control of their assets to the bankrupt crypto lender, meaning the deposits are part of Celsius' bankruptcy estate. U.S. Bankruptcy Judge Martin Glenn said in a court order Wednesday that Celsius' terms
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Avraham Eisenberg can’t be released on bail because he faces a mammoth prison sentence for the $110 million exploit in October, a Puerto Rico judge said Original Source
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A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for Chapter 11 bankruptcy protections in July. The decision establishes a precedent that might affect the status of other, similar cases involving crypto companies like Blockfi and
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Officials may later seek to have Sam Bankman-Fried forfeit the assets, potentially including as much as $450 million in stocks, to avoid benefiting from crimes Source
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Iranian authorities seized numerous crypto mining equipment over the past two years, citing stress on energy grids during winter. Now, a court ordered the release of crypto-mining equipment that was previously seized as a measure to conserve energy.Since 2021, Iran’s Organization for Collection and Sale of State-Owned Property (OCSSOP) has seized
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The Bahamas will have legal representation in the unfolding FTX case. The Caribbean nation chose Brown Rudnick as counsel “in certain matters of engagement related to the collapse of FTX Digital Markets Ltd.,” alongside Bahamian lawyers and other experts, according to a statement released by the law firm. FTX Digital Markets
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To recap: Sam Bankman-Fried was arrested last month in the Bahamas at the behest of U.S. authorities, who later revealed they had indicted the FTX founder and former CEO on eight different charges: conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on
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The attorneys cited privacy and safety concerns as reasons for requesting the concealment of identities. Source
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