FTX Attempts to Maintain Ownership of Robinhood Shares in Court
FTX and Alameda Research are attempting to secure ownership of Robinhood stock worth over $440 million, based on a court filing dated Dec. 22. According to the text of the filing, Emergent Fidelity Technologies currently holds about 56 million Robinhood shares (HOOD). Emergent Fidelity Technologies is 90% owned by Sam Bankman-Fried, the former CEO of FTX and controller of Alameda. The ownership of those Robinhood shares is now disputed, as three separate parties are attempting to claim ownership in courts across multiple jurisdictions. (cryptoslate)
On-Chain Data Links FTX to the Purchase of 101 Bored Apes From Sotheby in 2021
Conor @jconorgrogan on Twitter:" On-chain evidence links FTX to the purchase of 101 Bored Apes from Sotheby's for 24.4M back in 2021
-Apes were deposited into the FTXUS NFT Marketplace address + marketed by FTX
-FTX listed Apes at discount to Opensea floor in effort to bring in users
-8M in $APE sent to Alameda"
FTX Could Pay Over $2,100 per Hour for Bankruptcy Lawyers
Bankrupt crypto exchange FTX has asked a U.S. bankruptcy judge for permission to pay its top restructuring lawyers as much as $2,165 per hour, an unusually high rate for a company that cannot afford to repay all of its debts.
CySEC Extends FTX EU’s CIF License Suspension to March 2023
The Cyprus Securities and Exchange Commission (CySEC) has extended the suspension of the Cyprus Investment Firm (CIF) license of the FTX (EU) Limited, the Cypriot subsidiary of bankrupt cryptocurrency exchange, FTX, to March 31, 2023.
FTX Asks Judge for Help in Fight Over Robinhood Shares Worth About $450M
FTX sought a U.S. bankruptcy court's help amid a battle over ownership of about $450 million worth of stock in Robinhood Markets (HOOD), according to a filing Thursday.
Ripple CEO: Wells Fargo Mismanagement of Billions In Customer Funds Not Highlighted Like FTX
Brad Garlinghouse, American businessman and Chief Executive of Ripple Labs, is outraged at how Wells Fargo’s recently-uncovered asset mismanagement is being reported and handled by U.S. financial authorities, compared to the magnitude of coverage the FTX collapse has attracted.
Third Parties Could Return FTX Funds Directly to Customers: Law Firm
More than one million creditors of failed crypto exchange FTX have been waiting to be made whole since before the firm’s bankruptcy filing on Nov. 11, but according to one expert, recipients of donations and contributions may have a legal means of returning the funds directly to investors and customers.
3 FTX Execs Snitched on SBF, Now Scrutiny Is Aimed at FTX’s Director of Engineering
On Dec. 21, U.S. law enforcement officials from the Southern District of New York (SDNY), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) revealed they imposed fraud charges against FTX co-founder Gary Wang and ex-Alameda Research CEO Caroline Ellison. After Wang’s and Ellison’s surrender announcement, the public has been wondering where FTX’s director of engineering, Nishad Singh, is located and whether or not he has come forward yet.
SEC Says Ellison, Wang ‘Knew or Were Reckless in Not Knowing’ About FTX Fraud
The most common phrase found in the SEC’s 38-page complaint alleges that various FTX and Alameda employees either “knew, or were reckless in not knowing” what was actually happening between the two companies.
FTX Creditor Committee Hires Paul Hastings LLP for Bankruptcy Proceedings: Report
After taking pitches from many law firms, the nine-member committee representing unsecured creditors of the disgraced crypto exchange FTX has decided on a legal adviser, the Wall Street Journal reported on Dec. 21.
