Swiss Prosecutors Raided FTX-Linked Tyr Capital Partners
Swiss prosecutors raided Tyr Capital Partners, a crypto hedge fund based in Geneva, following a criminal mismanagement complaint filed by investor TGT. TGT accused Tyr of ignoring internal risk limits and investor warnings over exposure to FTX, which ultimately collapsed. Tyr Capital Partners denies any wrongdoing and claims to have complied with regulatory and contractual obligations. TGT is currently working to wind up the portfolio and control remaining assets. The collapse of FTX caused many firms to suffer losses and has led to ongoing investigations and lawsuits.
SBF may receive leniency as it benefits from rising crypto assets
On February 17th, Estes, co-head of the General Crimes Bureau in the southern district of New York, stated that due to the rise of cryptocurrency assets, the amount of losses in the FTX case will cause intense controversy during sentencing. If all clients and creditors are compensated, the defense may argue for a significant reduction in the amount of losses, even to $0.<br>According to relevant US laws, for cases of fraud that cause lower losses, the recommended sentencing range is 24-30 months. Therefore, SBF may receive a lenient sentence in next month's ruling.
FTX/Alameda address moves nearly $3.3 million worth of crypto assets to CEX
According to PeckShield monitoring, FTX/Alameda transferred 1000 ETH (worth about $2.3 million) to Coinbase, 54,500 RLC (worth about $117,800), 2.4 million SNT (worth about $90,500), 6,900 NMR (worth about $190,000), 618,000 OXT (worth about $61,000) and 162,500 POWR (worth about $48,000) to Coinbase Prime, 103,500 NEXO (worth about $90,000) to FalconX, and 4.4 million ALPHA (worth about $412,000) to Binance.
Multicoin Capital is discussing selling FTX bankruptcy claims worth about $100 million
According to sources, cryptocurrency investment company Multicoin Capital is discussing the sale of its FTX bankruptcy claim, which is worth approximately $100 million. Positive news about the FTX bankruptcy claim has raised the claim price to over 70 cents per dollar and gradually risen to around 80 cents. Companies like Multicoin that have been inadvertently affected by the FTX bankruptcy have been contacted by claim buyers for over a year, and as potential bids rise, these companies are evaluating the opportunity cost of capital and choosing to sell early rather than wait.
FTX: The sale of Anthropic shares is to "maximize the interests of shareholders"
According to court documents released on February 3, FTX (including Alameda) is seeking court approval to sell all of its shares in artificial intelligence (AI) company Anthropic. According to the latest disclosure, FTX believes that now is the "best and most appropriate time to coordinate the sale of Anthropic shares", and the sale of the company's shares is to "maximize shareholder interests". <br>
Bankrupt FTX estate seeks to sell its shares in AI startup Anthropic
According to court filings, the estate of bankrupt crypto exchange FTX is looking to sell its shares in AI startup Anthropic. FTX's estate owns approximately 7.84% of Anthropic, which received a $500 million investment from FTX and Alameda in 2021. The estate had attempted to sell the stake last year, but the process was paused in June 2023. The proposed sale procedures will allow the estate to coordinate the sale of Anthropic shares at an optimal time and maximize the value for all stakeholders. A hearing on the matter may take place later this month.
Supreme Court ruling strengthens prospects for full recovery for Australia's FTX creditors
A ruling made by the Supreme Court of Victoria in January increases the possibility of Australian creditors of cryptocurrency exchange FTX recovering all their funds. Judge Patricia Matthews clarified in the ruling that only those who initiated Australian dollar withdrawal requests (about 747 investors) are eligible for a full refund.
Bloomberg: U.S. Department of Justice says FTX lost $400 million in SIM swapping attack
Robert Powell, Emily Hernandez, and Carter Rohn have been charged with planning a SIM card exchange attack fraud, in which they stole more than 400 million US dollars when FTX went bankrupt. According to the indictment submitted by the Department of Justice in the Washington Federal Court, Robert Powell, Emily Hernandez, and Carter Rohn collected personal data of about 50 victims and used this information to convince mobile service providers to transfer the victims' phone numbers to their fake phones. This allowed the three to intercept text messages - including multi-factor authentication codes - which allowed them to access the victims' financial accounts and encrypted wallets. The indictment did not mention FTX, but two people familiar with the case confirmed that "Victim Company-1" in the court documents is actually FTX.
FTX Was Never Really Bankrupt
The prosecution in Sam Bankman-Fried’s criminal trial drilled into the jurors’ heads that FTX customer losses exceeded $8 billion, but never substantiated that claim. In reality, the crypto exchange had sufficient assets to make creditors whole all along – a fact that would likely change the public’s perception of its founder.
Bloomberg: FTX’s cash reserves have increased to $4.4 billion by the end of 2023
FTX is selling cryptocurrency assets and hoarding cash as bankruptcy advisers search for a way to repay customers whose accounts have been frozen since the platform collapsed in 2022.
