Cryptocurrency Analysis and News Portal
Five months after the spectacular implosion of FTX, the Bahamas-based exchange’s new legal team has a message for both the U.S. bankruptcy court and creditors alike: “The situation has been stabilized and the dumpster fire is out.” Source
Read More
February’s round of legal expenses for bankrupt crypto exchange FTX has been published and it remains a scary figure for debtors.A series of court filings from April 4 to April 10 detailed the monthly fee statements for February of the law firms involved with FTX’s bankruptcy proceedings which come to
Read More
According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave “at least $10 million” from the now-defunct quantitative trading
Read More
A Delaware bankruptcy judge approved the sale of the bankrupt company’s assets to Abu Dhabi’s investment arm. Original Source
Read More
Top Stories This Week Coinbase could face SEC enforcement action for ‘potential violations of securities law’ Crypto exchange Coinbase received a Wells notice from the United States Securities and Exchange Commission (SEC) suggesting an upcoming enforcement action. According to Coinbase,
Read More
“Mr. Bankman-Fried, and others at his direction, maintained a close, accommodating relationship with Bahamian law enforcement agencies” including the prime minister, attorney general and Securities Commission, the filing reads, adding that the FTX founder “aimed to leverage that relationship to minimize his criminal and civil exposure should the massive fraud
Read More
A cursory look at just those two assets for FTX (which does not include FTX US) reveals something really beyond comprehension. The identified deficit between customer payables, which are customer balances, and total assets, which are assets the bankruptcy team has located plus the amount of customer balances owed to
Read More
Bankman-Fried’s laptop will be restricted to a whitelist of approved websites, including news, sports, Wikipedia and the U.S government, and his use of video games and other connected applications should be restricted, U.S. Attorney Damian Williams said in a filing that said it was made “on behalf of the parties,”
Read More
Federal prosecutors have shared more information about their case against FTX founder Sam Bankman-Fried. Between two new indictments and civil suits against another former FTX executive, we now have a much clearer picture about what the Department of Justice thinks it has. Original Source
Read More
In a statement, SEC Director of Enforcement Gurbir Grewal said, "we allege that this was fraud, pure and simple: while on the one hand FTX touted its supposed effective risk mitigation measures to investors, on the other Mr. Singh and his co-defendants were stealing customer funds using software code Mr.
Read More