Cointime December 30th News Express
1.FTX Founder Sam Bankman-Fried Will Not Face Second Criminal Trial, Federal Prosecutors Say
FTX bankruptcy claims trade in secondary market rises to as high as 73%
AcThe claim price of bankrupt cryptocurrency exchange FTX Group has recently risen significantly, with current trading prices ranging from 57 cents to 73 cents, benefiting from the overall rise in the digital asset market. Data from Cherokee Acquisition shows that this price has risen from 50 cents to 53 cents at the end of October.
FTT briefly broke through $4.5, rising by more than 23% in 24 hours
Due to the important settlement impact reached by FTX Digital Markets, a subsidiary of FTX in the Bahamas, and FTX Trading Ltd. and its affiliated debtors (collectively referred to as "FTX Debtors"), FTT briefly broke through $4.5 and is now priced at $4.2561, with a 24-hour increase of 23.20%.
FTX debtors have entered into a global settlement agreement with the joint official liquidators
The representative of FTX Digital Markets, the debtor, has signed a global settlement agreement with the joint official liquidator. Approval is still required from the US Delaware Bankruptcy Court and the Bahamas Supreme Court, and both parties have agreed to immediately seek approval.
Crypto exchange FTX owes more to lawyers than to creditors in bankruptcy proceedings
Legal fees for the bankruptcy proceedings of FTX, the collapsed crypto exchange, have surpassed the amount owed to its creditors. Recent compensation filings show that FTX has been billed around $1.45 billion by legal experts, while just over $1.42 billion is owed to out-of-pocket customers. The filings also reveal that FTX has paid lawyers a total of $350 million since the bankruptcy proceedings began earlier this year, with fees averaging $1.4 million per day from August to October. Concerns have been raised about the excessive fees charged by the legal firms handling the FTX bankruptcy.
FTX Estate Submits Proposal to End Bankruptcy with Delaware Court
The estate of FTX, a crypto enterprise that collapsed in November 2022, has submitted a proposal to end bankruptcy with a Delaware court. The bankruptcy plan classifies creditor and customer claims according to priority and calculates the value of claims based on asset prices at the time of the company's bankruptcy filing. The estate aims to "maximize and efficiently distribute value to all creditors." However, the plan is likely to face opposition from various creditor groups until it's approved by the court, with a hearing date set for 2024.
Enigma Fund founder: $240 million in cryptocurrency held by FTX was sold yesterday
Enigma Fund, a Web3 venture capital firm, announced that FTX's $240 million worth of cryptocurrency was sold yesterday.
Nearly 250,000 SOL were transferred to the FTX Estate account, worth more than $18.35 million
Whale Alert has monitored that around 3:46 AM on Friday Beijing time, 249,999 SOL were transferred from an unknown wallet to FTX Estate account, worth $18,358,953.
The whale address starting with 0xfa2 withdraws 500,000 FTT coins from Binance
According to Spot on Chain monitoring on December 13th, a whale address starting with 0xfa2 withdrew 500,000 FTT coins (approximately 2.41 million USD) from Binance about 30 minutes ago. It is worth noting that due to FTX and Alameda holding about 76% of the total supply of FTT, the actual circulating supply of FTT is very small and easily manipulated by whale addresses.
SBF defense lawyer: The outcome of the trial is very unfavorable to SBF
David Mills, the defense lawyer representing SBF in the FTX fraud case trial, expressed frustration and disappointment, stating that SBF was the most challenging client he had ever encountered. Mills admitted that the trial's outcome was unfavorable to the former CEO, and that the legal challenges and complexities surrounding the case made it difficult for the defense to obtain a favorable outcome. Despite acknowledging shortcomings in SBF's handling of cross-examination, Mills believed that even if his performance had improved, it would not have changed the trial's outcome. The jury ultimately found the former executive guilty of embezzling billions of dollars from FTX customers within a few hours.
FTX/Alameda address transferred over $10 million worth of tokens to CEX
According to PeckShield monitoring, the FTX/Alameda-marked address transferred about 5 million BOBA tokens (worth about $8.7 million) to Coinbase Prime, transferred 1.25 million JOE tokens (worth about $1.38 million) to Binance, and withdrew about 4 million QI tokens (worth about $116,000) from Binance.
FTX says IRS demand for $24 billion in unpaid taxes is delaying recovery of user funds
On December 12th, FTX's lawyers stated in new documents submitted to the Delaware bankruptcy court that the US Internal Revenue Service (IRS) should verify its claim against FTX and explain how it calculated the alleged unpaid taxes. This is the latest step in the months-long dispute between the IRS and FTX's bankruptcy assets, with the focus of the controversy being how much this bankrupt trading platform and its affiliated companies owe the government in unpaid taxes.
FTX/Alameda Research has deposited approximately $591 million in crypto assets to CEX since October 24
On December 9th, Spot On Chain monitoring reported that in the past four days, FTX and Alameda Research transferred 19 types of cryptocurrencies worth $23.59 million to Binance, Coinbase, OKX, and Galaxy Digital OTC.<br>Data shows that since October 24th, FTX and Alameda Research have deposited a total of approximately $591 million worth of 74 tokens into exchanges.
FTX/Alameda address has transferred 17,100 SOL to wintermute
PeckShield monitoring shows that the FTX/Alameda-marked address has transferred a total of about 17,100 SOL (worth about $1.05 million) to Wintermute.
The total amount of assets transferred out by FTX related addresses today reached US$22 million.
According to Lookonchain monitoring, the FTX/Alameda address has transferred assets worth $22 million today, including:
5 hours ago, FTX related addresses transferred 7 crypto assets to Coinbase and other institutions.
According to Ember Monitoring, 5 hours ago, FTX/Alameda-related addresses continued to transfer 7 kinds of assets worth a total of $18.42 million:
Former FTX CEO Sam Bankman-Fried Chooses Not to File Post-Trial Motions, Focus Shifts to Sentencing and Potential Second Trial
Sam Bankman-Fried, the ex-CEO of FTX, has decided not to file any post-trial motions and his legal team may pursue claims on appeal after his conviction on seven federal fraud charges. His sentencing is scheduled for March 28, and there is uncertainty about the prosecution's plans for a second trial initially slated for March. Bankman-Fried's incarceration has become a focus in the crypto community's ongoing legal narrative, highlighting the increasing legal scrutiny facing prominent figures in the cryptocurrency industry.
FTX/Alameda related addresses transferred $10.8 million in assets to Wintermute, Binance and Coinbase in the past 11 hours
According to Spot On Chain monitoring on December 1st, FTX and Alameda Research transferred eight assets worth $10.8 million to Wintermute, Binance, and Coinbase in the past 11 hours. These assets include 10 million GMT tokens (approximately $2.58 million), 407,000 UNI tokens (approximately $2.41 million), 5.23 million SYN tokens (approximately $2.25 million), 8.76 million KLAY tokens (approximately $1.64 million), 3.87 million FTM tokens (approximately $1.18 million), 77.77 billion SHIB tokens (approximately $644,000), and small amounts of ARB and OP.
FTX/Alameda related addresses transferred $2.8 million GMT to Wintermute
According to on-chain analyst Yu Jin's monitoring, 5 minutes ago, FTX/Alameda related addresses transferred 10,308,268 GMT (2.8 million US dollars) to Wintermute.
Court approves FTX sale of $744 million worth of Grayscale crypto asset trust shares
On November 30th, FTX has been approved by the bankruptcy court to sell its approximately $744 million worth of cryptocurrency asset trust shares in Grayscale Investments to raise funds to repay billions of dollars in debt to creditors.
