SBF took to social media again on Tuesday to react to Trump's pardoning of former Honduran President Juan Orlando Hernández.
Short-term realized-loss dominance is typical of market stress, but the magnitude this week stands out.
Arguments made by former FTX CEO Sam Bankman-Fried's lawyer in a bid to get a new trial may not have been convincing, Sam Enzer says.
The former FTX CEO, who is currently serving a 25-year sentence for fraud, has repeatedly claimed that the crypto exchange was solvent at the time of its bankruptcy.
Jailed former FTX CEO Sam Bankman-Fried is back in court as he looks to get a redo after being found guilty on multiple fraud charges.
Meanwhile, Sam Bankman-Fried, the convicted founder of FTX, is scheduled to appear at an appeal hearing in New York on Tuesday.
The FTX founder is looking for a fresh trial on his fraud and conspiracy charges. He's got an uphill battle.
Sam Bankman-Fried is again challenging the core narrative of his downfall: that FTX was insolvent when it collapsed in November 2022. In a 15-page report written from prison and dated Sept. 30, the convicted founder claimed the exchange “was never insolvent” but merely trapped in a “liquidity crisis” after customers pulled $5 billion in two […]
The post New prison report flouts claim FTX could have repaid customers from $25B in assets appeared first on CryptoSlate.
The disgraced FTX founder resurfaced on social media with a sprawling self-defense arguing that customers could have been made whole in 2022.
Bankman-Fried and his family have claimed that the FTX co-founder was wrongfully convicted, and are seeking clemency from President Trump.
Architect is backed by investors including Coinbase Ventures, Circle Ventures, and Anthony Scaramucci's SALT Fund.
It's still a long shot that FTX's Sam Bankman-Fried will be pardoned, but odds have spiked as Binance's Changpeng Zhao has its criminal record deleted.
The Bitcoin, Ethereum, and Dogecoin prices are crashing today, sparking bearish sentiment in the crypto market. This followed the U.S. President Donald Trump’s move, which has ignited fears of a full-blown trade war with China. Why The Bitcoin, Ethereum, and Dogecoin Prices Are Crashing The Bitcoin, Ethereum, and Dogecoin prices are down today, according to CoinMarketCap data. The flagship crypto has dropped to as low as $104,000 over the last 24 hours, wiping out its early October gains that led to a new all-time high (ATH) above $126,000. Ethereum dropped to as low as $3,400, while Dogecoin broke below the psychological $0.2 level and fell to $0.11. Related Reading: Institutions Dump Massive Amounts Of Bitcoin And Ethereum As XRP And Solana Buying Ramps Up This massive crash in Bitcoin, Ethereum, and Dogecoin followed Trump’s Truth Social post, in which he announced that the U.S. will impose a 100% tariff on China, over and above any tariffs they are currently paying, starting on November 1. He added that they will also impose Export Controls on any and all crucial software from China starting on November 1. Notably, Trump had earlier in the day threatened to massively increase tariffs on China, while stating that the country was becoming hostile. This initial threat caused Bitcoin to sharply drop below $120,000 from a high of around $122,000. Meanwhile, the Ethereum and Dogecoin prices also faced sharp declines. Bitcoin was trading around $116,000 when Trump announced a 100% tariff on China, which sent the crypto market into a spiral. BTC’s further decline also pushed Ethereum and Dogecoin to intraday lows of $3,400 and $0.11, respectively, extending their market losses. Meanwhile, these massive declines for the crypto assets contributed to the largest liquidation event in crypto’s history. CoinGlass data shows that $20 billion has been wiped out from the crypto market in the last 24 hours, driven by crashes in Bitcoin, Ethereum, and Dogecoin prices. This liquidation event was larger than the COVID-19 crash and the FTX bankruptcy crash. Exchanges May Have Contributed To The Crash BitMEX co-founder Arthur Hayes suggested that crypto exchanges may have contributed to the crash in the Bitcoin, Ethereum, and Dogecoin prices. In an X post, he stated that the word on the street is that big CEX’s auto liquidation of collateral ties to cross-margined positions is why many altcoins “got smoked on the move down.” He congratulated those who bought the dip, stating that market participants are unlikely to see those levels again anytime soon on many high-quality altcoins. Related Reading: Bitcoin Short-Term Prediction: Why The Price Will Cross $140,000 By The End Of October Crypto analyst Kevin Capital opined that the drop in Bitcoin, Ethereum, and Dogecoin prices was caused by serious issues across top exchanges like Robinhood, Coinbase, and Binance. He added that what makes it even worse is that these exchanges didn’t let people buy the dip at the lowest point. Featured image from iStock, chart from Tradingview.com
Spike in FTT activity coincides with a post from Bankman-Fried’s X account despite prison restrictions, drawing ire from the crypto community.
Creditors of the collapsed crypto exchange FTX are facing another round of fraud, this time through a fake airdrop scheme. Sunil Kavuri, a popular FTX creditor advocate, warned on Sept. 24 that community members are being targeted with phishing emails exploiting information stolen in the Kroll data breach. Kavuri shared a screenshot of the message, […]
The post SBF shares his contact details as FTX investors targeted with another scam appeared first on CryptoSlate.
The FTX Recovery Trust sued Genesis Digital Assets Limited after they said the former FTX CEO used commingled funds to invest in it.
The FTX Recovery Trust is gearing up for its third distribution to creditors affected by the exchange’s significant collapse, with payments set to commence on September 30, 2025. FTX Trust Confirms Payments To Eligible Creditors According to the official statement, this distribution will be available to holders of allowed claims categorized under the Plan’s Convenience and Non-Convenience Classes who have completed the necessary pre-distribution requirements. Eligible creditors can expect to receive their funds through their chosen distribution service provider—either Bitgo, Kraken, or Payoneer—within one to three business days following the distribution date. Related Reading: Bitcoin Price Forecast: Expert Predicts 70% Chance Of New Highs Within Two Weeks In this upcoming distribution, the Recovery Trust will adhere to the waterfall priorities outlined in the Plan. Specifically, Allowed Class 5A Dotcom Customer Entitlement Claims will receive an additional 6%, bringing their cumulative distribution to 78%. Meanwhile, Allowed Class 5B U.S. Customer Entitlement Claims will see a substantial 40% distribution, elevating their cumulative total to 95%. Additionally, Allowed Classes 6A General Unsecured Claims and 6B Digital Asset Loan Claims are each set to receive a 24% distribution, which raises their cumulative distributions to 85%. Interestingly, Allowed Class 7 Convenience Claims will benefit from a major 120% distribution. FTT Token Soars 22% The native token of the failed exchange, FTT, has experienced notable growth . According to data from CoinGecko, FTT’s price has surged by 22% over the past seven days. Related Reading: Warren Calls Out US DOJ Over Binance Settlement And Alleged Trump Ties In New Letter The token reached a peak of $1.13 on September 18 before experiencing a slight retracement. Over the week, FTT has fluctuated between $0.78 and $1.06. Despite this recent rally, it’s important to note that FTT’s all-time high of $84.18, achieved in September 2021, remains nearly 99% above its current price levels. Featured image from DALL-E, chart from TradingView.com
The latest round of redistributions marks another step in the bankruptcy estate’s plan to make creditors whole after the 2022 collapse of Sam Bankman-Fried's exchange.
FTX will disburse an additional $1.6 billion to creditors beginning Sept. 30 as part of the bankruptcy estate’s third distribution.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The latest transfer follows the familiar monthly schedule that has characterized FTX and Alameda's asset liquidation process.
Operating out of Cyprus and licensed under the European Union’s MiFID II framework, the exchange is positioning itself as one of the first fully regulated venues in Europe to offer crypto derivatives, starting with perpetual futures.
Pro-XRP lawyer Bill Morgan has called out Jorge Tenreiro, who was the lead counsel in the Ripple case. This follows the conclusion of the long-running legal battle between the crypto firm and the U.S. SEC. XRP Lawyer Calls Out Counsel In Ripple Case In an X post, Bill Morgan revealed that the lead counsel for the SEC in the Ripple case is now a partner at a major law firm. The pro-XRP lawyer further stated that Tenreiro’s profile refers to some of his courtroom successes in crypto enforcement. However, he noted it oddly overlooks and does not mention his two-thirds loss in the Ripple case and the appeal he filed, which the SEC agreed to dismiss. Related Reading: SEC Delays Appeal Withdrawal In Ripple Lawsuit, Pro-XRP Lawyer Says Expect To Hear Something In This Timeframe In line with this, Morgan declared that even Tenreiro knows that Ripple succeeded in what matters. He said that he will always remember the lead counsel for running an “unsustainable legal theory” that XRP was a security, which Judge Torres ruled against by stating that the altcoin in itself is not a security. Meanwhile, the pro-XRP lawyer alluded to the lead counsel’s attempt to smear John Deaton’s character before the court in the Ripple case. Deaton was actively involved in the case as an amicus curiae, supporting the crypto firm in its case against the Commission. Notably, Tenreiro spearheaded other crypto cases during his time at the SEC. He brought the enforcement actions against Binance, Terraform Labs, and Sam Bankman-Fried in the FTX case. Just like the Ripple case, the Binance case has also been dropped, while Tenreiro and his team received a favorable ruling in the Terraform case. Notably, he was reassigned to the IT department when the Trump administration came into office. This was before Tenreiro’s exit from the SEC. XRP Lawsuit Finally Concludes The Ripple SEC lawsuit has finally concluded after almost five years, since the Commission first instituted the case. This development follows the U.S. Appeals Court’s approval of the Joint Stipulation of Dismissal from the crypto firm and the Commission. With this, the SEC and Ripple have now dropped their appeal and cross-appeal cases, respectively. Related Reading: XRP Price Crashes After SEC Denies XRP ETFs, What Are The Next Important Dates? The next move will be for Ripple to fulfill its $125 million monetary judgment that Judge Torres ordered against it in her final ruling due to its securities violations. The crypto firm will have to pay the complete sum, as Judge Torres decided not to adopt the settlement agreement that both parties had reached earlier in the year. Under the settlement agreement, Ripple would have only had to pay $50 million out of the $125 million. At the time of writing, the XRP price is trading at around $2.94, down almost 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com
FTX creditors have launched a class action lawsuit against Kroll Restructuring Administration, the firm managing claims for the bankrupt crypto exchange. The suit, filed on Aug. 20 by US-based Hall Attorneys, alleged that Kroll’s handling of claims for FTX, BlockFi, and Genesis customers caused financial harm and exposed sensitive information to cybercriminals. According to the […]
The post FTX creditors sue Kroll for mishandling claims, exposing sensitive data appeared first on CryptoSlate.
Changpeng Zhao has asked a US bankruptcy court to dismiss claims in a lawsuit filed by FTX's bankruptcy estate.
The former crypto giant used to be a mainstay in the digital asset ecosystem till a CoinDesk expose in 2022 resulted in the downfall of Sam Bankman-Fried's empire.
The bankruptcy court allowed FTX to reduce the claims reserve by $1.9 billion, freeing up funds to be distributed to former customers.
FTX has identified $800 million in creditor claims across 49 potentially restricted nations, with China accounting for 82%.
Chinese creditors affected by FTX’s latest legal maneuver are ramping up efforts to challenge the bankrupt exchange’s request to delay payouts to users in 49 jurisdictions with restrictive or uncertain crypto laws. The group is turning to US courts and regulators, raising concerns about fairness, transparency, and procedural integrity. Speaking with CryptoSlate, a Chinese creditor […]
The post Over 500 Chinese creditors challenge FTX over $470M payout freeze appeared first on CryptoSlate.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.