Crypto Customers Sell Claims at a Loss to Avoid Bankruptcy Wait
Some customers with accounts stuck in failed cryptocurrency companies are choosing to take a big loss on their investments now to avoid dealing with uncertainties in drawn-out bankruptcies.
FTX Diverted $200 Million of Customer Money for Two Venture Deals That Caught the SEC’s Attention
Of the billions of dollars in customer deposits that disappeared from FTX in a flash, $200 million was used to fund investments in two companies, Mysten Labs and fintech company Dave, according to the Securities and Exchange Commission, which charged founder Sam Bankman-Fried with “orchestrating a scheme to defraud equity investors.”
Vulture Funds Are Already Coveting the Carcass of FTX by Taking Advantage of the Disarray of Customers
These funds offer clients whose money and cryptos are locked up on FTX to get a slim fraction of it back. Between 5 and 8% only …
In Defense of Sam Bankman-Fried
I have a much more charitable view of what happened with SBF, and this Christmas season I encourage you to put yourself in his shoes.
Bankman-Fried Arraignment in New York Set for Next Week
Disgraced FTX founder Sam Bankman-Fried will be arraigned by the U.S. District Court for the Southern District of New York next week.
FTX Customers File Class Action to Claim Assets Within Bankruptcy Case
A group of customers are now suing FTX in an attempt to become the first to recover funds from the insolvent cryptocurrency exchange. The lawsuit, filed as part of the bankruptcy case in Delaware, seeks a court ruling recognizing that their holdings with the trading platform belong to them rather than the failed company.
Bitcoin Plunged 65% in 2022 As Terra, FTX Went Up in Flames
As cryptocurrencies entered a bear market in line with traditional markets, bitcoin has slumped 65% year-to-date as the global crypto market capitalization fell to $839 billion from over $2 trillion.
Sam Bankman-Fried Spent Several Hours with 'The Big Short' Writer Michael Lewis While Under House Arrest
Michael Lewis, author of the bestseller book The Big Short, has met with Sam Bankman-Fried, the disgraced founder and former CEO of the collapsed crypto exchange FTX, at the California home where he is holed up awaiting trial.
Alameda Wallets Become Active Days After SBF Bail, Community Mulls Foul Play
The crypto wallets associated with now-bankrupt trading firm Alameda Research, the sister company of FTX, were seen transferring out funds just days after the former CEO Sam Bankman Fried was released on a $250 million bond.
FTX Customers File Class Action to Lay Claim to Dwindling Assets
FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried on Tuesday, seeking a declaration that the company’s holdings of digital assets belong to customers.
Give the Money Back — FTX’s New Management Is Seeking to Recover the Dollars Paid by SBF to Politicians
According to federal prosecutors investigating the case, the assets of FTX’s clients were used, among other things, to make donations to political figures in the United States.
The 10 Defining Market Events of 2022
We will walk you through the year’s defining market events with the benefit of hindsight and an eye towards the future.
Ellison and Wang Are ‘Game Changers’ in Bankman-Fried’s Trial, Lawyer Says
The guilty pleas made by former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang are “game changers for the case against Sam Bankman-Fried," the former FTX CEO who is now facing multiple criminal charges, Ian McGinley, a partner at Akin Group, told CoinDesk TV’s “First Mover” on Tuesday.
More Than $19 Billion in BTC, ETH, Stablecoins Left Exchanges Since the Onset of FTX’s Collapse
For more than 50 days or since Nov. 5, 2022, bitcoin, ethereum, and stablecoin owners removed roughly $19.19 billion in crypto assets from centralized exchanges. Between Nov. 5 to Dec. 26, roughly 356,848 bitcoin and 4.48 million ether were withdrawn from a myriad of crypto trading platforms worldwide.
Ellison and Wang Admit Misleading Lenders With Bankman-Fried
Caroline Ellison, the former Chief Executive Officer of Alameda Research, pleaded guilty recently, admitting that she was aware of the activities that were taking place from 2019 to 2022.
Would Crypto Regulation Have Prevented FTX Fraud?
Regulation that prevents unduly risky behavior by crypto companies with customer money will help prevent more business disasters in this niche. Regulation that ensures accurate accounting of assets and transactions on a regular basis will be a good step towards preventing more FTX-type fraud.
Workers Install Security Cameras Outside Sam Bankman-Fried’s Family Home
Workers were spotted installing security cameras outside the $4 million California home where disgraced FTX founder Sam Bankman-Fried is staying while on house arrest.
A Comprehensive Timeline of Everything You Need To Know About FTX, Sam Bankman-Fried and Caroline Ellison
The goal of this article is to present an easy-to-follow, fact-based timeline highlighting the most important events in the story starting with the very beginning, by briefly covering the reason for the collapse.
FTX.com Account Permitted Alameda To Maintain Negative Balances in Various Fiat Currencies and Crypto Currencies
Ellison, along with FTX co-founder Gary Wang, pled guilty last week to federal charges in connection with their roles in the frauds that contributed to FTX's collapse, and both are cooperating with the Southern District of New York. News of their plea agreements was held back until Bankman-Fried was en route to the U.S. from The Bahamas.
Bitcoin Exchange Withdrawals Sink to 7-Month Low As Users Forget FTX
Bitcoin exchange users have forgotten all about the FTX scandal this Christmas, data shows.
