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The FTX bankruptcy estate, headed by CEO John J. Ray III, has filed a lawsuit against ByBit, its investment arm Mirana, and various executives. The aim is to recover funds and digital assets that ByBit withdrew from FTX just before its collapse, with the current value close to $1 billion.The
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Several former FTX executives have teamed up to help build a new cryptocurrency exchange in Dubai with a specific focus on what FTX failed to do — secure customer funds.Ex-FTX lawyer Can Sun is leading the way with Trek Labs, a Dubai-based startup that received a license to offer cryptocurrency
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FTX management has been trying to recover funds from multiple sources including beneficiaries of donations made by the firm and its former CEO Sam Bankman-Fried. FTX bankruptcy advisors have sued cryptocurrency exchange ByBit Fintech Ltd in an attempt to recover funds withdrawn prior to its collapse. According to a Bloomberg report,
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Coinciding with the crypto market’s newfound bull run, Solana (SOL) has made significant strides, rising by over 175% in the last 30 days. The recent crypto market upturn has not only propelled Bitcoin (BTC) to an 18-month-high but also triggered massive gains for Solana, effectively pushing it over the $20 billion
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Consultants for the collapsed crypto exchange FTX have filed a lawsuit against crypto exchange Bybit to regain digital and monetary assets totaling $953 million. The FTX advisers claim that Bybit extracted the assets just before FTX went into Chapter 11 bankruptcy in November 2022, Bloomberg reports. FTX’s bankruptcy advisers sued crypto exchange
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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In the world of technology and cryptocurrency, a world where everyone seems to be a “founder”, “leader” or “entrepreneur”, one word that seems to persistently hover in
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According to a post from Kaiko, a leading source of cryptocurrency market data, analytics, indices, and research, dated Nov. 10 on X, spot volumes are on a positive uptrend. The promising numbers are believed to be a product of ETF excitement with news from BlackRock. A $6 billion spike Data shows that from
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Altcoins linked to Sam Bankman-Fried see a significant surge, as the FTX token soared over 200% in a week. Despite the recent conviction of Sam Bankman-Fried on multiple counts of fraud and conspiracy, the altcoins closely associated with the FTX founder saw a major upswing during this week’s market rally. The
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Before you know it, we were representing virtually all of the 38,000 customers pro bono with help from my Northwestern law professor, J. Samuel Tenenbaum, and Barnes and Thornburg lawyers Trace Schmelz and David Powlen, with Hillary Escadeja, Susan Osmanski and David Rosen rounding out our small but very capable
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The cryptocurrency’s historical trends indicate that significant gains often occur a year and a half after the bottom, suggesting a rapid price surge in the coming years. A year after the crypto market saw the collapse of the now-defunct FTX Derivatives exchange and two years after Bitcoin (BTC) saw an all-time
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