FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcy
When FTX tried to sell the platform after filing for bankruptcy, the top bid was for just $1 million, representing a 99.5% decline in value.This post was originally published on this site
IRS claiming $44B from FTX bankruptcy: Report
The single biggest claim involves unpaid partnership and income taxes of $20.4 billion assessed against Alameda Research. This post was originally published on this site
Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors
Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured […]
FTX’s Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal Defense
According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave “at least $10 million” from the now-defunct quantitative trading firm Alameda Research to his […]
SBF’s inner circle received $3.2B, mainly from Alameda: Court filings
Billions worth of loans and payments flowed from FTX entities to Sam Bankman-Fried and five other former executives of FTX and Alameda Research.This post was originally published on this site
89% still trust centralized custodians despite 2022’s collapses: Survey
A January survey from Paxos found that 89% of respondents still trusted “intermediaries” to hold their crypto, despite the collapses and bankruptcies in 2022.This post was originally published on this site
Stanford Alumni Revealed as Co-Signers of FTX Co-Founder’s $250M Bond
According to the latest court documents in the fraud case involving former FTX CEO Sam Bankman-Fried in Manhattan, the New York judge presiding over the case unsealed the co-signers of Bankman-Fried’s bond on Wednesday. The names of the two bail bond co-signers that were previously redacted from court documents are Stanford University alumni Larry Kramer […]
SEC-retly Failing: How the SEC Is Letting Crypto Down
When Gary Gensler (ex-Goldman Sachs investment banker) was announced as the new head of the Securities and Exchange Commission (SEC) in February 2021, the crypto industry saw a glimpse of hope. After all, the man in charge of regulating the industry was a “crypto native,” having taught a course on the subject at MIT. However, […]
SEC and CFTC Lawsuits Against Former FTX CEO Paused Until Criminal Proceedings Conclude
Two civil lawsuits, stemming from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), against former FTX CEO Sam Bankman-Fried will be paused until his criminal proceedings are complete. US Attorney Requests Pause on SEC and CFTC Lawsuits to Prevent ‘Judicial Overlap’ According to the latest decision by a New […]
Elementus Raises $10 Million to Bring Clear Blockchain Analytics to Institutional Customers
Elementus, a New York-based blockchain firm, has raised $10 million as part of its Series A-2 funding round, led by Web3 VC company Parafi Capital. The raise, which values the company at $160 million, aims to allow Elementus to keep improving its processes for providing effective and sound blockchain analytics to Web3 companies and government […]