Archives

March 29, 2023 @ 9:16 pm By JD Alois  |  

Crypto exchange Okcoin has issued a brief statement indicating it will return funds related to the FTX and Alameda bankruptcy cases. According to Okcoin, it wil return $8.2 million in frozen assets related to Alameda Research. The company notes that FTX debtors filed a motion… Read More

February 28, 2023 @ 3:08 pm By JD Alois  |  

Nishad Singh, the former co-lead Engineer at failed crypto exchange FTX, has been charged by both the Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) with fraud. Both agencies revealed the charges following the news that Singh had pleaded guilty to criminal… Read More

February 23, 2023 @ 10:43 am By JD Alois  |  

The fraud charges continue to pile up for disgraced FTX founder Sam Bankman-Fried. Earlier today, the US Department of Justice filed an updated complaint that outlines twelve charges – an increase from the previous criminal charges. The claims continue to be damning and expansive, highlighting… Read More

February 10, 2023 @ 6:32 pm By JD Alois  |  

Representative Bill Huizenga, the Chair of the Subcommittee on Oversight and Investigations, part of the House Financial Services Committee, has sent a letter to SEC Chair Gary Gensler demanding he hand over documents surrounding Sam Bankman-Fried and the collapse of the crypto exchange. The letter… Read More

February 6, 2023 @ 9:55 am By Omar Faridi  |  

FTX Trading Ltd. (d.b.a. FTX.com), and its affiliated debtors (together, the “FTX Debtors”), announced the FTX Debtors are “sending confidential messages to political figures, political action funds, and other recipients of contributions or other payments that were made by or at the direction of the… Read More

January 27, 2023 @ 8:08 am By Omar Faridi  |  

US securities regulators are looking into the operations of investment advisers over crypto-asset custody. The US Securities and Exchange Commission (SEC) is examining the activities of registered investment advisers over whether they’re following applicable guidelines around custody of customer digital assets. This, according to sources… Read More

January 19, 2023 @ 12:39 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their part in the “multi-year scheme” to commit fraud in regards to FTX, once… Read More

January 12, 2023 @ 8:47 am By JD Alois  |  

Sam Bankman-Fried, founder and former CEO of FTX – once one of the largest crypto exchanges in the world and now in the midst of bankruptcy, has taken to Substack to pleed his case. Bankman-Fried, now effectively under house arrest, claims that if he had… Read More

January 11, 2023 @ 11:49 am By JD Alois  |  

A filing submitted yesterday to the bankruptcy court handling FTX has questioned the involvement of Sullivan & Cromwell as the bankruptcy counsel. The document claims that: “Sullivan & Cromwell is not only an inappropriate candidate for appointment as the FTX Group’s bankruptcy counsel—it is a… Read More

January 10, 2023 @ 11:35 am By Omar Faridi  |  

Eric Chen, CEO and co-founder of Injective Labs, and core contributor to Injective, has shared insights with CI about how the FTX contagion is upending investments in DeFi projects and what to expect for the future of digital assets. Injective recently announced a $40M funding… Read More

January 6, 2023 @ 5:00 pm By JD Alois  |  

You may quibble about totals, but the value lost in digital assets during 2022 was pretty enormous. If you exited at the end of 2021 – congratulations. If you remained invested or HODLed. Sorry. On top of that, multiple centralized crypto platforms imploded, and the… Read More

December 30, 2022 @ 9:15 am By JD Alois  |  

  The Securities Commission of The Bahamas has announced that it took $3.5 billion in crypto from FTX for safekeeping, according to a statement distributed by the Commission yesterday (December 29, 2022). The Commission stated that based on information provided by former FTX CEO Sam… Read More

December 29, 2022 @ 3:42 pm By JD Alois  |  

Funds have been on the move from Alameda Research wallets – mostly in small amounts with the majority being combined into two digital wallets prior to being sent to FixedFloat/ChangeNow. This is according to a report by Martin Lee at Nansen – a blockchain analytics… Read More

December 23, 2022 @ 6:12 pm By JD Alois  |  

Former CEO of Alameda Research Carolyn Ellison has apologized for her misdeeds pertaining to the collapse of FTX as well as Alameda. Gary Wang, FTX co-founder and former CTO, has also acknowledged his errors, according to multiple reports. Both Ellison and Wang have pleaded guilty… Read More

December 22, 2022 @ 2:30 pm By JD Alois  |  

Sam Bankman-Fried, extradited to the US last night, will be released on $250 million, according to multiple reports. The former FTX CEO will be restricted to his parents’ home as part of the deal. Charges against Bankman-Fried were revealed last week. The indictment claims that… Read More

December 21, 2022 @ 11:54 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has joined both the SEC and US Department of Justice in filing fraud charges against Caroline Ellison, former Alameda CEO, and Gary Wang, FTX co-founder and former CTO. The CFTC initially filed the fraud action on December 13 against… Read More

December 21, 2022 @ 11:41 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against former Alameda Research CEO Caroline Ellison and FTX co-founder and former CTO Gary Wang. The enforcement action was due to the pair’s role in the failure of FTX and their roles in a “multiyear scheme to… Read More

December 21, 2022 @ 11:26 pm By JD Alois  |  

U.S. Attorney Damian Williams has announced additional charges in the ongoing criminal case against FTX. According to a Tweet, the US District Court, Southern District New York, has filed charges against former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang. Williams said the charges… Read More

December 20, 2022 @ 11:59 am By JD Alois  |  

Sam Bankman-Fried is expected to be extradited to the US perhaps as early as this week, according to a report. The former CEO of bankrupt crypto exchange FTX was in court this week and is expected not to fight extradition from the Bahamas. Previously, it… Read More

December 17, 2022 @ 2:19 pm By JD Alois  |  

  The trifecta of legal action against Sam Bankman-Fried and the failure of FTX blossomed this past week as the US Attorney for the Southern District of New York filed criminal charges against Bankman-Fried. These charges were joined by civil charges filed by both the… Read More