Sam Bankman-Fried Wants FTX To Prioritize Covering His Legal Bills; Shanghai Bank Mulls Buying Silicon Valley Bank's Stake in Chinese Subsidiary; Uniswap Officially Expands Exchange Services to BNB Chain; Coinbase Announces Partnership With Standard Chartered Amidst Banking Sector Turmoil

Former FTX CEO Sam Bankman-Fried wants to use the crypto exchange’s director and officer liability insurance to pay his legal bills, his lawyers said in a court filing on Wednesday.

Huobi disclosed to Reuters that its customers’ funds remain unaffected by the recent banking crisis in the USA since it has previously transferred all its assets from Silvergate and Signature Bank to other monetary institutions.

Amid the multiple ongoing investigations, FTX continues to move funds. The addresses, related to the failed crypto exchange, reportedly transferred around $145 million in stablecoins to a range of operating platforms. 

FTX, a cryptocurrency derivatives exchange, has been in the news recently due to the transfer of significant amounts of USDT and USDC to Coinbase, Binance, Kraken and Coinbase Custody Wallet. Three addresses associated with FTX/Alameda reportedly transferred 69.64 million USDT to the address "0xad6e," with 43 million USDT going to Coinbase, Binance and Kraken.

On Mar 10, Reuters reported that the U.S. District Judge Lewis Kaplan has expressed concerns over the proposed bail conditions for former FTX cryptocurrency exchange founder Sam Bankman-Fried. 

Those startups include Alchemy, Blockchain.com, Chainalysis, Kraken, ConsenSys, Blockdaemon, CoinDCX and OpenSea.

FTX’s investment arm, Alameda Research, has struck a $45 million cash deal to sell its interest in Sequoia Capital to the Abu Dhabi sovereign wealth fund, according to court documents filed Wednesday.

On March 8, United States District Judge Jacqueline Scott Corley laid down the order that denied a request from plaintiffs to consolidate a total of five proposed class action lawsuits against the bankrupt crypto exchange. Despite no defendants opposing the motion, the judge pointed out that not all defendants had the opportunity to respond yet.

Lawyers representing FTX founder Sam Bankman-Fried have flagged it may be necessary to delay the criminal trial for the former crypto exchange executive — to give him more time to prepare his defence. In a Mar. 8 letter to United States District Judge Lewis Kaplan, Bankman-Fried’s lawyers said they weren’t formally requesting a date change just yet, but it may be needed as they’re still awaiting a “substantial portion” of evidence to be turned over to them and more charges had been laid against the FTX founder in late February. (Cointelegraph)

Losses from crypto scams in Hong Kong amounted to 1.7 billion Hong Kong dollars ($216.6 million) last year, surging 106% from a year before, according to the local police.

Bankrupt digital currency trading firm FTX Derivatives Exchange, through its sister trading firm, Alameda Research, has filed a lawsuit against Grayscale Investment. The case was filed in the Court of Chancery in the State of Delaware, and it names its CEO, Michael Sonnenshein, and the parent company, Digital Currency Group, as defendants.

Alameda said it owned $290 million worth of shares in Grayscale's Bitcoin and Ether trusts as of March 3.

FTX sister company Alameda Research has filed a lawsuit against crypto asset manager Grayscale Investments seeking injunctive relief to realize what it claims is over $250 million in asset value for the FTX Debtor’s customers and creditors, according to a press release.

While Sam Bankman-Fried awaits his day in federal court, he should be allowed to conduct legal research online, keep up with news and sports, shop on Amazon, and place food delivery orders, according to a letter submitted to the court by U.S. Attorney Damian Williams. A previous request that focused on messaging applications was rejected last month by Federal Judge Lewis Kaplan. Writing to Kaplan again after consultation with the former CEO's legal team, Williams submitted requested adjustments to the conditions of SBF’s bail, establishing an allowlist of websites he could visit on a new, specially configured laptop. (Decrypt)

According to a court document filed on March 3, the US Department of Justice has suggested revised bail guidelines for former FTX CEO Sam Bankman-Fried (SBF).

This request was made after it was discovered that Bankman-Fried had been using encrypted messaging apps and a virtual private network (VPN) while on bail.

Former FTX founder Sam Bankman-Fried (SBF) proposes the names of two technology consultants that will help determine appropriate bail restrictions in his criminal fraud case. SBF was given a deadline of Friday to propose names of at least a technical consultant to prevent him from more bail restrictions.

Elon Musk Drops BasedAI Hint; Former FTX Director Pleads Guilty to Fraud—SEC, CFTC File Civil Charges; Yuga Labs Launches Twelvefold Collection; Binance Listing Triggers Over 100% Surge in Liquity token

Defunct crypto lender Voyager Digital agreed to reserve $445 million after the firm was sued by bankrupt trading firm Alameda Research for loan repayments, according to a new court filing.