Tagged: ftx

January 11, 2023 @ 11:30 pm By JD Alois  |  

In the days when FTX could do no wrong, viewed as the second coming of crypto exchanges, FTX cut a deal to have its brand plastered on the Miami Heat Arena. Stepping in to take over from the august American Airlines in the Spring of… 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 9, 2023 @ 11:02 am By JD Alois  |  

As was previously reported, the bankruptcy proceedings of FTX and its affiliated entities have included a decision to sell certain entities or subsidiaries that have remained solvent during and after the collapse of FTX. A prime example is LedgerX, a firm that was acquired by… 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

January 2, 2023 @ 1:09 pm By Omar Faridi  |  

Charles Guillemet, Ledger’s CTO, looks back at the most “critical” crypto events of 2022 and argues that “the failure of centralized entities has emphasized more than ever the importance of self-custody in ensuring inalienable ownership rights.” Ledger notes in a blog post that 2022 was… Read More

January 1, 2023 @ 11:30 am By Omar Faridi  |  

Since the beginning of the year, the price of bitcoin has dropped by 64% from $46,311 to $16,851, but the market hasn’t yet reached a bottom. As the global economy enters a recession, the world’s first cryptocurrency could fall to $10,000 in 2023, according to… 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

December 16, 2022 @ 4:27 pm By JD Alois  |  

The Financial Stability Oversight Council (FSOC)  has identified 14 specific financial vulnerabilities impacting the markets in its annual report. The Council incorporates the participation of all the major US financial regulators, including the Secretary of the Treasury, who acts as the Chair of the Council…. Read More

December 16, 2022 @ 12:50 pm By JD Alois  |  

Mazars, an international accounting firm, has pulled its proof of reserves report on Binance, according to multiple reports. Mazars apparently has halted all work on crypto platforms. Mazars has yet to issue a statement on its decision. Most recently, Mazars posted a Proof of Reserves… Read More

December 15, 2022 @ 5:08 pm By JD Alois  |  

FTX has filed a new document with the courts indicating its intent to sell multiple assets. FTX CEO John J. Ray, III, stated earlier this week his intent to sell certain assets as it moves to recoup funds in the bankrupt operation. Included on the… Read More

December 15, 2022 @ 12:40 pm By JD Alois  |  

This past Tuesday, the House Committee on Financial Services hosted a hearing with a single witness – John J. Ray, III, the new CEO of FTX. Originally, the Committee had scheduled the former CEO of FTX, Sam Bankman-Fried, to testify, but his arrest the day… Read More