Tagged: ftx

August 11, 2023 @ 3:56 pm By JD Alois  |  

Reports are indicating that Sam Bankman-Fried, the founder and former CEO of failed crypto exchange FTX, is back in jail as Judge Lewis Kaplan has revoked his bail. Bankman-Fried has been out on bail almost since his arrest. Apparently, the prosecutors involved in the case… Read More

August 2, 2023 @ 11:29 am By JD Alois  |  

Eversheds Sutherland is representing an Ad Hoc Committee of Non-US Customers of FTX.com, aiming to protect non-US customers’ interests in the bankruptcy process of FTX. According to a statement from a representative of the Ad Hoc Committee, there are approximately 40 members representing about $2.5… Read More

July 18, 2023 @ 10:23 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has canceled the Australian financial services (AFS) license held by FTX Australia Pty Ltd effective from 14 July 2023. FTX Australia is a subsidiary of FTX that is in bankruptcy in US courts. FTX Australia was placed into… Read More

June 28, 2023 @ 9:08 am By Omar Faridi  |  

Bankrupt crypto exchange FTX is reportedly moving forward with plans to attempt to bring back its international digital currency exchange, the WSJ reported on Wednesday (June 28, 2023). The news outlet also shared statements from CEO John Ray. The firm has now initiated the process… Read More

May 2, 2023 @ 4:04 pm By JD Alois  |  

Temasek has taken the extraordinary step of refuting internet chatter that it has invested in Array. Array is an “omni-chain protocol for application-oriented decentralized asset management” that aims to create a “next-generation algorithmic currency system.” Temasek is a “generational investor” and global investment company headquartered… Read More

April 19, 2023 @ 10:57 am By Omar Faridi  |  

Tribe Capital, an established VC company launched back in 2018, is reportedly leading an investment round worth $250 million in order to assist FTX with re-establishing its virtual currency exchange. The latest move comes after the firm had filed for bankruptcy and the new CEO,… Read More

April 17, 2023 @ 2:46 pm By JD Alois  |  

  Multiple reports indicate that Shaquille O’Neal, a former NBA superstar, has finally been served after being hunted for weeks, at least according to the Moskowitz Law Firm. Shaq was one of a handful of celebrities that got caught up in the promotion of FTX… Read More

April 13, 2023 @ 4:57 pm By JD Alois  |  

Representative Patrick McHenry, Chairman of the House Financial Services Committee, and Representative Bill Huizenga, Chairman of the Subcommittee on Oversight and Investigations, have joined in sending a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler criticizing him for a failure to provide information… Read More

April 13, 2023 @ 7:48 am By Omar Faridi  |  

Bankrupt digital currency exchange FTX has reportedly recovered more than $7.3 billion in cash as well as liquid digital assets. This is notably an increase of over $800 million since this past January 2023. This, according to a report from Reuters which referenced the firm’s… Read More

April 10, 2023 @ 9:27 am By JD Alois  |  

FTX Exemplified hubris, incompetence, and greed. FTX CEO John J. Ray, III has filed his first interim report on the failure of FTX as the bankruptcy proceedings continue. Once one of the largest crypto exchanges in the world, led by high-profile founder and CEO Sam… Read More

March 30, 2023 @ 8:58 am By Omar Faridi  |  

Indicted FTX crypto exchange founder Sam Bankman-Fried (SBF) is reportedly expected to plead not guilty this Thursday to the latest US criminal charges. These new charges include allegedy conspiring to violate campaign finance guidelines and even attempting to bribe Chinese officials. As first reported by… Read More

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 27, 2023 @ 11:10 am By JD Alois  |  

In recent weeks, the Securities and Exchange Commission (SEC) has stepped up its enforcement activities in regard to the digital asset ecosystem. In the past, SEC Chairman Gary Gensler has asserted that all digital assets are securities, with the exception of Bitcoin. At one point,… 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

February 5, 2023 @ 4:37 pm By Omar Faridi  |  

The XPLA Blockchain, a “next generation” of Web3 mainnet developed with gamers at the core of its design, announced that a governance proposal ‘to support individual $XPLA holders related to the FTX incident has been approved with unanimous consent.” The voting on the Relief Fund… Read More

January 22, 2023 @ 5:00 pm By Omar Faridi  |  

  Bitcoin (BTC), the flagship cryptocurrency, has fallen from a high of nearly $70,000, which it reached in late 2022, to just over $20,000 at the time of writing. Meanwhile, Ethereum (ETH), the second-largest crypto-asset by market cap and the largest smart contract platform, has… Read More

January 20, 2023 @ 7:35 am By JD Alois  |  

Late last night, Genesis, part of the Digital Currency Group (DCG), filed for Chapter 11 bankruptcy protection as it looks to restructure in light of a challenging environment in the crypto sector which has impacted multiple firms. Genesis is a digital asset prime brokerage that… Read More