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Sam Bankman-Fried Issues First Statement Since Sentencing: “I Never Thought What I Was Doing Was Illegal,” ABC News Reports
2.4.2024
Former “king of crypto” Sam Bankman-Fried is speaking out following his sentencing last week - telling ABC News that he "never thought" his actions were against the law. The FTX founder is currently serving a 25 year prison sentence and must pay an $11 billion fine for his role in the now doomed...
Sam Bankman-Fried Breaks Silence: ‘Haunted’ by FTX Collapse, Vows to Appeal and Criticizes Legal Process
1.4.2024
The fallen founder of FTX, Sam Bankman-Fried (SBF), broke his silence for the first time since being sentenced to 24.25 years in prison, engaging in an email conversation with ABC News. SBF expressed that he is “haunted” daily by the events that transpired, emphasizing his stance that he “never...
FTX Liquidators Target Repayment to Creditors by End of 2024
1.4.2024
The FTX bankruptcy estate has outlined its target to initiate repayments to customers by the end of 2024, as disclosed during a meeting of FTX Digital's Joint Official Liquidators in the Bahamas.
The post FTX Liquidators Target Repayment to Creditors by End of 2024 appeared first on Cryptonews
Former FTX Executives and Promoters To Pay $1.35 Million in Lawsuit Settlement Deal
29.3.2024
Former executives and promoters of crypto exchange FTX have agreed to settle a class action following founder Sam Bankman-Fried's sentencing Thursday, court documents filed yesterday show. Former head of engineering for FTX, Nishad Singh, Alameda Research CEO, Caroline Ellison, chief technological...
Barry Silbert Could Pocket $1 Billion in Personal Gains by Exploiting Bankruptcy System: Report
27.3.2024
Barry Silbert, founder and CEO of crypto conglomerate Digital Currency Group (DCG), stands to potentially gain up to $1 billion through a sophisticated maneuver involving the bankruptcy system.
The post Barry Silbert Could Pocket $1 Billion in Personal Gains by Exploiting Bankruptcy System: Report...
FTX Bankruptcy Claims Surge in Value: Bids Now Approach 93 Cents on the Dollar
25.3.2024
Half a year ago, firms specializing in acquiring troubled companies and their debts were actively accumulating FTX bankruptcy claims worth millions, offering $0.33 for every dollar of claim. Presently, the valuation of these claims has significantly appreciated, with buyers now prepared to offer...
FTX to Sell $884M of Anthropic Shares to Two Dozen Institutional Investors
25.3.2024
The value of FTX's FTT token surged 10% on the news
How Many Years Will Sam Bankman-Fried Get In Prison, Really?
22.3.2024
Set to be sentenced next week, disgraced FTX founder Sam Bankman-Fried is facing charges that carry a total maximum penalty of over 100 years in prison. Former U.S. Assistant Attorney and white-collar crime expert Kevin J. O'Brien weighs in on the FTX estate and Bankman-Fried's prison time.
The...
Unabomber Prosecutor to Conduct FTX Probe Into Law Firm Sullivan and Cromwell’s “Conflicts of Interest”
22.3.2024
Unabomber prosecutor Robert J. Cleary has been approved by a U.S. bankruptcy judge to probe law firm Sullivan and Cromwell’s potential conflicts of interests in relation to FTX. Cleary's appointment marks a significant shift into the collapse of FTX following over a year of calls for an appointment...
New Research Paper Sheds Light on Alleged Conflicts of Interest in FTX’s Chapter 11 Filing
22.3.2024
A recent research paper on SSRN by legal scholars scrutinizes the ethical quandaries and potential conflicts of interest surrounding Sullivan & Cromwell LLP’s involvement in FTX’s Chapter 11 bankruptcy filing. Study Highlights Legal Ethics From FTX Bankruptcy Proceedings The SSRN...
FTX Users Seek Return of Crypto Assets, Not Dollars
21.3.2024
In a collection of letters, FTX users around the globe have asked for their coins instead of being reimbursed.
The post FTX Users Seek Return of Crypto Assets, Not Dollars appeared first on Cryptonews
FTX CEO Slams Attempt to Reduce SBF’s Sentence, Highlights Ongoing Suffering of Victims
21.3.2024
John Ray III, the CEO and restructuring officer of FTX, has criticized an attempt made by Sam Bankman-Fried's lawyers to reduce his sentence, emphasizing that the victims of the fraud "have suffered and continue to suffer."
The post FTX CEO Slams Attempt to Reduce SBF’s Sentence, Highlights...
Crypto Lender Celsius Pursues $2B Pre-Bankruptcy Exodus
21.3.2024
Bankrupt crypto lender Celsius has begun demanding customers who made major withdrawals in the three months preceding its bankruptcy to return their funds or face legal action.
The post Crypto Lender Celsius Pursues $2B Pre-Bankruptcy Exodus appeared first on Cryptonews
FTX Was Down to Last 105 Bitcoins When Bankruptcy Rescue Crew Arrived: John Ray
21.3.2024
John J. Ray III Fires Back Against SBF’s ‘Delusional’ Claims Customers Lost No Money in FTX Collapse
Crypto Lender Genesis Requests US Bankruptcy Court to Approve ‘Settlement Principle’
20.3.2024
The insolvent cryptocurrency lender, Genesis, has petitioned a U.S. bankruptcy court to approve a proposed settlement principle announced on Feb. 28. According to an update, if the court approves the settlement, Genesis Earn users will receive all of their digital assets back in kind....
3AC Co-Founder Kyle Davies Says He Won’t Apologize for Crypto Hedge Fund Going 'Bankrupt'
20.3.2024
Kyle Davies, the co-founder of the now-defunct Three Arrows Capital, has stated that he is not sorry for the company going bankrupt
FTX Creditors Submit Impact Statements Before Bankman-Fried’s Sentencing, Highlighting Devastating Consequences
19.3.2024
The Department of Justice (DOJ) has filed dozens of victim impact statements in the criminal case against Sam Bankman-Fried ahead of his sentencing.
The post FTX Creditors Submit Impact Statements Before Bankman-Fried’s Sentencing, Highlighting Devastating Consequences appeared first...
FTX Claims Holder Attestor Takes Creditor to Court Over Alleged 'Seller’s Remorse'
18.3.2024
London-based investment firm Attestor Capital, a top holder of FTX bankruptcy claims, has filed suit against a FTX creditor who allegedly promised to sell the firm two FTX accounts, only to back out of the deal once the value of its claims skyrocketed
New Court Documents Reveal Sam Bankman-Fried’s Strategies to Repair Public Image
18.3.2024
Newly revealed court documents shed light on Sam Bankman-Fried's strategies aimed at repairing his public image following the collapse of FTX in 2022.
The post New Court Documents Reveal Sam Bankman-Fried’s Strategies to Repair Public Image appeared first on Cryptonews
Terraform Labs Allowed to Hire Law Firm Dentons in Bankruptcy Case by U.S. Court: Reuters
13.3.2024
A U.S. court has allowed Terraform Labs to hire law firm Dentons to defend the company in a lawsuit brought against it by the U.S. Securities & Exchange Commission (SEC) in Jan. 2024