FTX Used Client Assets for Margin Trading at Alameda, Confirms Bankruptcy Lawyer
Ray said that FTX customers’ assets were used by Alameda Research for margin trading, confirming a long-held suspicion about the two companies that former boss Sam Bankman-Fried (SBF) has been hesitant to admit.
SBF, FTX, Alameda Sued by the CFTC for Commodities Laws Violations
The CFTC is the latest regulatory agency to charge SBF, FTX and Alameda with violating existing commodities laws and regulations.
Sam Bankman-Fried Denied Bail, Remanded to Custody in the Bahamas
Sam Bankman-Fried is headed to jail after a magistrate judge in the Bahamas denied his bail application and remanded him to the Department of Corrections, Reuters <a href="https://twitter.com/ReutersLegal/status/1602784389250789376">said</a>.
The disgraced former CEO of FTX was was deemed a flight risk and will be held until at least Feb. 8 when "the matter resumes."
‘You Can Commit Fraud in Shorts and T-shirts in the Sun,’ Attorney Says on SBF Indictment
Damian Williams, United States Attorney for the Southern District of New York, said the investigation in the collapse of FTX was ongoing, hinting at additional announcements on potential arrests in the future. He called on individuals who may have been involved in alleged illegal actions at FTX and Alameda to “come see us before we come see you.”
FTX Bankruptcy Lawyers Shift Attention to FTX Political Donations
FTX bankruptcy lawyers are beginning to focus on the money trail that is much more visible, that is, the millions of dollars donated to politicians.
SBF Hit With Eight Criminal Charges, Max Potential Prison Exposure 115 Years
Bankman-Fried was arrested Monday by Bahamian authorities at the request of the U.S. government, which charged him with eight criminal violations, ranging from wire fraud to money laundering to conspiracy to commit fraud. He was also charged with making illegal campaign contributions, a notable charge as Bankman-Fried was one of the largest political donors this year.
FTX Debacle Could Lead to Crypto Legislation ‘Momentum’: Blockchain Association’s Kristin Smith
Mending crypto’s reputation on Capitol Hill, tarnished in the wake of <a href="https://www.coindesk.com/ftx-news-coverage/">crypto exchange FTX’s collapse</a>, will require continuing to engage with U.S. policymakers, according to <a href="https://www.coindesk.com/consensus-magazine/2022/12/12/crypto-regulation-washington/">Kristin Smith</a>, executive director of the Blockchain Association.
FTX Did Invoicing, Expenses Over Slack and QuickBooks: CEO John Ray
FTX employees did invoicing and expenses over Slack and used QuickBooks, consumer-level tax software, to handle its accounting, the company's new CEO John Ray III said during Tuesday's House Financial Services Committee hearing.
$1.6B FTX International Customers Group Hires Law Firm to Create Official Bankruptcy Committee
A growing group of non-U.S. customers of FTX.com, which currently counts up to around $1.6 billion in lost funds, has lawyered up and is looking to create an official customer committee in order to protect their rights of ownership over their assets on the exchange.
With FTX’s Founder Facing Charges, New CEO Details Lack of Independence of FTX US
Despite assurances from founder Sam Bankman-Fried, the distinctions between crypto exchange FTX US and its international sibling were no more than superficial, John Ray III, the replacement CEO steering the company through bankruptcy, told lawmakers on Tuesday.
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