FTX Wants Judge To Stay the Sale of Robinhood Shares Worth $448M
Bahamas-based bankrupt crypto exchange FTX has sought help from the bankruptcy court in the matter of former CEO Sam Bankman-Fried’s 7.6% stake in the popular stock brokerage firm Robinhood.
Ripple General Counsel: SEC Finally Admits FTX Customers’ Assets Were Used to Bail Out BlockFi
Ripple’s general counsel Stuart Alderoty has made an important discovery in the SEC’s recently filed charges against FTX and Alameda Research execs. According to Alderoty, the Securities and Exchange Commission recently admitted that FTX and Alameda Research execs – Sam Bankman-Fried and Caroline Ellison – used customers’ assets to bail out embattled cryptocurrency lender BlockFi.
Google Hires Former BlockFi Crypto Executive for Web3
A former executive at troubled crypto lender BlockFi has taken a role at Alphabet Inc.’s Google to work on Web3.
Bankrupt Crypto Lender BlockFi Seeks to Return Frozen Assets to Wallet Users
Embattled cryptocurrency lender BlockFi has filed a motion at a U.S. court seeking to release frozen digital assets deposited in its wallet accounts to users.
BlockFi One Step Closer to Opening Withdrawals
Lending firm BlockFi has filed a motion that could allow customers to withdraw funds from their wallets, according to an email that was leaked on Dec. 19.
BlockFi Files Motion to Return Frozen Crypto to Wallet Users
Bankrupt crypto lending platform BlockFi has filed a motion requesting authority from the United States Bankruptcy Court to allow its users to withdraw digital assets currently locked up in BlockFi Wallets. In a motion filed on Dec .19 with the U.S. Bankruptcy Court in the District of New Jersey, the lender asked the court for authority to honour client withdrawals from wallet accounts as of the platform’s pause on Nov. 10. (Cointelegraph)
BlockFi Employees Warned of Credit Risks, but Say Executives Dismissed Them
While BlockFi regularly touted a sophisticated risk management team, current and former employees indicate in interviews that risk professionals were dismissed by executives preoccupied with delivering growth to investors. As early as 2020, employees were discouraged from describing risks in written internal communications to avoid liability, a former employee states.
BlockFi Employees Were Discouraged From Describing Risks in Internal Communications: Report
Following <a href="https://cointelegraph.com/news/blockfi-files-for-bankruptcy-as-many-expected-cites-ftx-collapse-for-its-troubles">BlockFi’s Chapter 11 bankruptcy filing</a> at the United States Bankruptcy Court for the District of New Jersey, reports have surfaced about the crypto lending company’s risk assessment and management culture.
How Wide Does FTX Contagion Spread? The Affected Companies So Far
Liquid Global – a Japanese crypto platform owned by FTX – <a href="https://cryptopotato.com/another-exchange-halts-withdrawals-in-the-ftx-aftermath/" target="_blank">halted</a> withdrawals shortly after its parent company filed for bankruptcy. The former became a victim of hackers last year and lost over $90 million worth of digital currencies. Back then, FTX <a href="https://cryptopotato.com/hacked-exchange-liquid-global-secures-120m-debt-finance-from-ftx/" target="_blank">secured</a> a $120 million debt financing so Liquid Global could resume its services.
BlockFi Files for Bankruptcy, Coinbase and MetaMask Against Apple Tax | Cointime Weekly Nov.27 – Dec.03
SBF had his first public interview after FTX collapse; Telegram to build crypto exchange; Brazilian congress passes crypto bill; Binance acquires Japanese crypto exchange Sakura; understanding key risks associated with stablecoins.
