Binance Responds to ‘FUD’: ‘A Healthy Company Will Not be Destroyed By a Tweet’
Binance has published a lengthy statement in response to “recent media and community questions” regarding the company’s finances and operations in the wake of the collapse of rival crypto exchange FTX.
Breaking: FTX Founder SBF Released on $250 Mn Bond, Placed Under House Arrest
After making his initial court appearance on Thursday in a federal court in Manhattan, FTX founder Sam Bankman-Fried is scheduled to be released on a bond of $250 million. He will also be placed under house arrest in the Palo Alto home which he shares with his parents Joseph Bankman and Barbara Fried, prominent Stanford University Law professors.
FTX Creditors Hire Law Firm Paul Hastings as Representation: WSJ
Law firm Paul Hastings LLP has been tapped to represent FTX creditors in the crypto exchange's bankruptcy proceedings, the Wall Street Journal reported Thursday citing people familiar with the matter.
U.S. SEC Labels FTX Token (FTT) as Security
The United States Securities and Exchange Commission (SEC) has classified FTX Token (FTT), the native cryptocurrency of digital asset exchange FTX, as security.
FTX Funded 94% of Blockfolio Takeover With Its FTT Token: Bloomberg
When now-defunct crypto exchange FTX acquired the portfolio tracking platform Blockfolio in 2020, it used its own exchange token, FTT, to fund the takeover, according to Bloomberg.
Alameda’s Caroline Ellison Escapes Potentially 110 Years in Jail via Plea Deal
One of the key witnesses on the ongoing FTX investigation could evade all the seven counts of allegations against her with a plea deal. Former Alameda Research CEO Caroline Ellison would be prosecuted only for criminal tax violations and can be released immediately by paying the $250,000 bail.
Alameda’s Caroline Ellison and FTX’s Gary Wang Hit With Additional Fraud Charges
The United States Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have hit former Alameda Research CEO Caroline Ellison and former FTX co-founder Gary Wang with fresh fraud charges.
Caroline Ellison Plea Agreement: $250,000 Bail, Surrender of Travel Documents, Forfeiture of Assets
Former Alameda Research CEO Caroline Ellison will not be allowed to leave the continental United States and must forfeit any proceeds derived from the commission of the offences she has been charged with, according to a recently unsealed plea agreement with the U.S. Attorney's Office of the Southern District of New York. The agreement states that if Ellison fully cooperates with the SDNY's investigation, as well as any other law enforcement agency designated by the office, she won't be further prosecuted criminally except for possible criminal tax violations with regard to the wire and commodity fraud charges that resulted from commingling funds between FTX and Alameda accounts. (Coindesk)
SEC Calls FTT Exchange Token a Security
FTX's exchange token FTT was sold as an investment contract, and is a "security," the U.S. Securities and Exchange Commission said in a complaint filed late Wednesday, in a move that is sure to have a wide-ranging impact on the industry. "If demand for trading on the FTX platform increased, demand for the FTT token could increase, such that any price increase in FTT would benefit holders of FTT equally and in direct proportion to their FTT holdings," the SEC wrote in its complaint. "The large allocation of tokens to FTX incentivized the FTX management team to take steps to attract more users onto the trading platform and, therefore, increase demand for, and increase the trading price of, the FTT token." (Coindesk)
Sam Bankman-Fried's Ex-girlfriend, FTX Co-founder Plead Guilty to Criminal Charges
Sam Bankman-Fried's ex-girlfriend and the co-founder of FTX have each pleaded guilty to criminal charges and are cooperating with prosecutors, U.S. Attorney Damian Williams said Wednesday. Caroline Ellison, CEO of Alameda Research, Bankman-Fried's privately-controlled hedge fund, and Gary Wang, co-founder of FTX, pleaded guilty earlier this week, according to newly unsealed court documents. Together, the seven counts carry a maximum sentence of 110 years in prison. (abcnews)
