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“Oh, yes,” Easton said when asked by the court whether FTX ever spent user deposits. The professor testified these user deposits were reinvested into businesses and real estate, used to make political contributions and donated to charity, as reported. Original Source
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Binance has long been the world's largest cryptocurrency exchange by trading volume. Still, on Monday, traders looking to buy and sell bitcoin (BTC) quickly on Binance were at a relative disadvantage to their peers on Kraken and Coinbase (COIN), according to data tracked by Paris-based Kaiko. The 0.1% ask depth
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An amended proposal released early Tuesday will be filed by the FTX Debtors by mid-December if approved. Source
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TrueUSD client data, including names and blockchain wallet addresses, is exposed following a security breach involving a third-party vendor. A breach involving a third-party vendor has exposed sensitive client data of TrueUSD, a leading issuer of stablecoins. TrueUSD was alerted to the security incident by TrueCoin, the former service provider responsible
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A filing last week suggests Sam Bankman-Fried's defense wants to get back to the argument that Bankman-Fried did not technically commit wire fraud because FTX’s terms of service were worded in such a way that there's no case to argue funds were misappropriated. Source
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On day four of the criminal trial of former FTX CEO Sam Bankman-Fried, Gary Wang, who co-founded the now-bankrupt crypto exchange and
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The U.S. Securities and Exchange Commission (SEC) and Binance.US, operated by BAM, are embroiled in a legal dispute concerning the handling and custody of customer assets, with both parties scheduled for a crucial hearing on Oct. 12. At the heart of the conflict is a mysterious entity known as “Ceffu,” which
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Bankrupt crypto exchange FTX reinstated the functionality of its customer claims portal with enhanced security measures following a recent cyberattack on non-sensitive data. Customers can now resume submitting claims for assets held before the exchange declared insolvency in November 2022. FTX suffered a cyberattack that led to a temporary shutdown. The
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Customer funds from Sam Bankman-Fried’s FTX were allegedly spent on a $2.5-million yacht, which was believed to be a gift for Sam Trabucco, the former co-CEO of Alameda Research. Two filings — one from July 31
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Major Indian crypto exchange CoinSwitch has laid off some members of its customer support team amid uncertain crypto regulation and stringent crypto taxation. CoinSwitch, a crypto exchange backed by Andreessen Horowitz and Coinbase Ventures, has axed 44
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