FTX and Alameda Research collapsed in November 2022, causing approximately $8 billion in losses to customers of the now-bankrupt exchange.
Alameda Research has filed complaints against crypto exchange KuCoin and Crypto.com to recover millions in locked funds as FTX prepares to repay users.
Caroline Ellison, the former CEO of Alameda Research and key witness in the prosecution of FTX founder Sam Bankman-Fried, reported to a low-security federal prison in Connecticut on Thursday to begin her two-year prison sentence. This development follows her sentencing in September, where she was also ordered to forfeit $11 billion due to her involvement […]
Bankrupt FTX has filed a lawsuit to recover at least $11 million held in a Crypto.com account linked to its sister company, Alameda Research, according to a Nov. 8 filing. FTX alleges that before filing for bankruptcy, Alameda held an account at Crypto.com registered under the name Ka Yu Tin, also known as Nicole Tin. […]
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Bankrupt and now defunct BlockFi has entered into a settlement agreeing to the license revocation and to cease unsafe practices.
Gary Wang, FTX’s co-founder, has asked through his legal team for a non-custodial sentence in a memo filed last November 6th in connection with the United States v. Sam Bankman-Fried. The computer programmer argued that he should not serve jail time over his supposed involvement with the failed FTX since he was a key witness […]
Caroline Ellison has been free on bail since her guilty plea in 2022, testifying at Sam Bankman-Fried’s criminal trial and subject to intense scrutiny by the media.
Gary Wang, the former chief technology officer at FTX and a one-time member of former CEO and convicted fraudster Sam Bankman-Fried’s inner circle, has requested that he serve no prison time for his role in the crypto exchange’s 2022 implosion.
FTX former Chief Technology Officer Gary Wang has requested leniency from the judge ahead of his Nov. 20 sentencing, highlighting his cooperation with law enforcement and his testimony against Sam Bankman-Fried, according to Nov. 6 sentencing memo. According to the filing: “Gary is profoundly remorseful and has taken extraordinary steps to assist the Government and […]
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The bankrupt FTX exchange has filed a lawsuit against Ryan Salame, the former co-CEO of its Bahamian subsidiary, seeking to recover approximately $98.8 million in cash and crypto, according to a Nov. 4 court filing. The failed firm accuses Salame of knowingly assisting other executives—most notably, founder Sam Bankman-Fried—in breaching fiduciary duties and misappropriating customer […]
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The US government has swapped its ANT tokens for more liquid Ethereum ahead of a planned crypto phaseout. Related Reading: Did YouTuber MrBeast Make $23 Million From Crypto Scams? Shocking Allegations Emerge The government-controlled crypto wallet that holds nearly $974,000 worth of digital assets has, for the first time in almost 24 months, been activated, […]
Bankrupt crypto exchange FTX has reached settlement agreements with Evolve Bank and Silicon Valley Community Foundation (SVCF) that could enable it to recover up to $21 million in assets. According to Oct. 30 court filings, these settlements still require court approval, with a hearing set for Nov. 20. Evolve Bank settlement Before FTX’s collapse in […]
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Crypto and DeFi fraud schemes have a lot in common with loan schemes and market manipulation in 1980 and the dot com era, AlixPartners’ David White observed.
Singh is the fourth FTX executive to be sentenced for his role in the fraud.
Nishad Singh will receive no prison time after pleading guilty to six felony charges in February 2023, cooperating with prosecutors and FTX’s debtors after the exchange’s collapse.
John Ray, who took over as FTX CEO in November 2022, suggested Nishad Singh’s cooperation in the firm’s bankruptcy would be “important to maximize recovery” for creditors.
The assets were initially valued at $28 million but now exceeded $50 million due to market fluctuations. The assets have been frozen by KuCoin since FTX's collapse in November 2022.
Bankrupt crypto exchange FTX has filed a lawsuit to recover over $50 million in assets allegedly withheld by KuCoin, according to court documents filed on Oct. 28. The assets were reportedly held in a KuCoin account belonging to the now-defunct Alameda Research, which filed for Chapter 11 bankruptcy in November 2022. FTX’s allegation In its […]
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In an ongoing effort to recover assets to repay creditors affected by its collapse in 2022, defunct crypto exchange FTX, once run by 25-year convict Sam Bankman-Fried, has reached an agreement with UAE-based crypto platform Bybit, allowing it to withdraw assets as part of a $228 million settlement. FTX To Recoup Funds From Bybit According […]
FTX announced a partnership deal with the National Basketball Association’s Golden State Warriors in December 2021 — roughly a year before the exchange folded.
The Nigerian government has dropped charges against a Binance exec, Ripple has filed an appeal, FTX settled with Bybit, and Denmark moves to tax unrealized crypto gains.
The prices of Bitcoin and other digital assets were significantly lower during the 2022 collapse of FTX compared to current market prices.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
After pleading guilty to six felony charges in February 2023 after FTX’s collapse, the former engineering director could face years in prison.
US prosecutors have requested that the court favorably consider former FTX executive Nishad Singh’s “substantial assistance” during their investigation into the failed crypto exchange, according to an Oct. 23 court filing. The prosecutors noted that he approached his cooperation with genuine remorse and a strong desire to help. According to the authorities, Singh’s “exemplary cooperation” […]
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Prosecutors asked Judge Lewis Kaplan to consider Nishad Singh’s “substantial assistance” to the government in its case against Sam Bankman-Fried at sentencing.
In a recent court filing, prosecutors have praised Nishad Singh, a former FTX executive, for his important help in the investigation of the cryptocurrency exchange’s collapse. They noted his genuine remorse and willingness to cooperate with authorities. Even though he pleaded guilty to several charges, he could still face prison time, with his sentencing hearing …
Prosecutors in the case against former FTX executive Nishad Singh have asked the sentencing judge to take into account the “substantial assistance” and “exemplary cooperation” Singh provided to the government in its investigations into FTX when considering his sentence.
A former executive of the fallen crypto exchange FTX has pleaded to the court to spare him a tough sentence. His court hearing date is approaching soon. He has asked a Manhattan federal Judge for a lighter sentence. The lawyers of Nishad Singh, argue that he was not even a major player in FTX’s collapse. …
Lawyers say that his early cooperation was critical to bringing cases against Sam Bankman-Fried and Ryan Salame.