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From $10M to $500K: FTX Slashes Digital Custody Unit Price in Post-Collapse Sale
13.2.2024
Now-defunct crypto exchange FTX is set to sell one of its Digital Custody Inc. (DCI) unit for a fraction of its original price. DCI, which was purchased by FTX for $10 million in August 2022, will now be sold to the token sale platform CoinList for a mere $500,000. Initially, FTX acquired DCI...
DeFiance Capital Wins in Lawsuit Against Defunct Crypto Fund 3AC in Singapore
2.2.2024
The High Court of Singapore turned down plea from the now-defunct crypto hedge fund Three Arrows Capital (3AC) to dismiss DeFiance Capital’s lawsuit filed against the fund. In a recent hearing, Judge Chua Lee Ming gave greenlight to Defiance Capital in its $140 million dispute with 3AC. Further...
British Actor Who Posed as HyperVerse CEO Apologises, Says He Was Not Aware of the Scam
11.1.2024
Source: a video screenshot, DST NATIONAL CHANNEL / YouTube Stephen Harrison, a British actor based in Thailand, has publicly apologized for his involvement in the HyperVerse cryptocurrency scandal. Harrison, who was paid to impersonate the CEO of the now-defunct crypto scheme, claims he was unaware...
Celsius Network Announces Unstaking of Ethereum Holdings to Facilitate Distribution to Creditors
5.1.2024
Source: Adobe/Canva Now-defunct cryptocurrency lender Celsius Network has revealed plans to unstake its Ethereum (ETH) holdings as part of its efforts to distribute assets to creditors. In a recent announcement made on X, Celsius Network shared that it intends to carry out...
Analyst: FTX Legal Battle Set to Extend Over Years in $8 Billion Creditor Fight
2.1.2024
Source: Getty Images Now-defunct cryptocurrency exchange FTX is embroiled in a legal battle that could extend over several years as creditors seek to recover over $8 billion. The case, filed in November, involves multiple parties fighting over the remaining assets, making it more complex...
Bankruptcy Judge Greenlights Celsius Shift to Bitcoin Mining
30.12.2023
The now-defunct crypto lender Celsius has received authorization to pivot to bitcoin mining, following approval from U.S. District Judge Martin Glenn of Manhattan for the firm’s revised strategy. This move comes after the company’s initial proposal encountered obstacles from the U.S....
Sam Bankman-Fried Unlikely to Face Second Trial, Say US Prosecutors – Here’s the Latest
30.12.2023
Source: Adobe / Александр Поташев US prosecutors are reluctant to pursue a second trial in the case involving Sam Bankman-Fried, former CEO of the now-defunct crypto exchange FTX. Bankman-Fried, who was convicted last month for embezzling funds from FTX customers, seems likely to avoid further...
Mt. Gox Creditors Report Receiving Compensation Payments via PayPal in Japanese Yen
26.12.2023
Source: AdobeStock / 24K-Production Creditors of now-defunct crypto exchange Mt. Gox have reported receiving fiat repayments for their trapped Bitcoin on the social media platform Reddit. According to recent posts on the Reddit page r/mtgoxinsolvency, Mt. Gox has begun sending Japanese...
Judge Kaplan Rejects Bankman-Fried’s Request for Sentencing Delay, Affirms March 2024 Date
21.12.2023
In a recent development in the high-profile case of Sam Bankman-Fried, the founder of the now-defunct crypto exchange FTX, a request for postponement of the sentencing hearing was firmly denied by U.S. District Judge Lewis Kaplan. Bankman-Fried’s legal team had sought a four to six-week...
FTX Presents Revised Plan to Distribute Billions to Customers and Creditors, Initiating Final Phase of Bankruptcy Resolution
18.12.2023
Source: Adobe / Александр Поташев Now-defunct crypto exchange FTX has revealed its latest proposal aimed at returning billions of dollars to customers and creditors, marking the start of the final stage in resolving its bankruptcy case. While the proposal addresses several critical aspects, there...
FTX’s Revised Reorganization Plan Addresses Cryptocurrency Claims Valuation
17.12.2023
Source: Adobe / Ascannio The debtors of now-defunct cryptocurrency exchange FTX have submitted an amended Chapter 11 plan of reorganization, suggesting that customer asset claims should be valued retroactively to the date of the exchange’s collapse in November last year. In a recent...
FTX Ad Hoc Committee Prepares Amended Reorganization Plans Set for December
7.12.2023
Source: Adobe The FTX 2.0 customer ad hoc committee of the now-defunct crypto exchange has received a response to the letter sent to its official arm. In a letter dated December 4, 2023, the Official Committee of Unsecured Creditors (UCC), overseeing the bankruptcy of the FTX exchange, acknowledged...
Millions in Altcoins Sent from FTX and Alameda Research Wallets to Exchanges
1.11.2023
Crypto wallets associated with the now-defunct crypto exchange FTX and its sister company Alameda Research have moved a significant amount of altcoins, sending a total of $13.1 million to various crypto exchanges overnight, on November 1. Data provided by the on-chain analysis firm Spotonchain...
Bankman-Fried Continues Testimony: “I didn’t want to be known as the Kansas City Royals of Crypto Exchanges”
28.10.2023
Sam Bankman-Fried, founder of the now-defunct crypto exchange FTX, continued his testimony in Manhattan federal court Friday afternoon. Bankman-Fried’s public image Bankman-Fried pushed back on former Alameda Research CEO Caroline Ellison’s claims that his now infamous unkempt hair...
Creditors of Struggling Crypto Exchange CoinFLEX Sue CEO and Seek Funds from ‘Bitcoin Jesus’ Roger Ver
26.10.2023
Creditors of CoinFLEX, a bankrupt exchange, sue CEO Mark Lamb and early investor Roger Ver, aka Bitcoin Jesus, alleging breach of fiduciary duty over the new exchange OPNX launch and unauthorized use of company assets. On October 25, creditors of the now-defunct cryptocurrency exchange CoinFLEX...
Elliptic: FTX Hacker Laundered Stolen Crypto Funds Through Russian Crime Networks
12.10.2023
Close to a year has passed, and the hacker responsible for the staggering $477 million heist from the now-defunct crypto exchange FTX still remains elusive. Yet, Elliptic, a leading blockchain analytics firm, has meticulously mapped the intricate journey of the stolen funds, shedding light on...
Report: Hodlnaut’s Judicial Managers Oppose OPNX Takeover
19.9.2023
According to a recent court filing, interim judicial managers for the troubled crypto lender Hodlnaut oppose a takeover by the crypto firm OPNX, which is linked to the now-defunct crypto hedge fund Three Arrows Capital and its founders. OPNX Takeover Faces Resistance from Hodlnaut’s Judicial...
Bankman-Fried’s House Arrest Writings Reveal Inner Turmoil, Blame Game in FTX Collapse
16.9.2023
According to more than 250 documents sent to the media, the disgraced co-founder of FTX, Sam Bankman-Fried, said he feels like “one of the most hated people in the world.” The former CEO of the now-defunct crypto exchange further noted in his statements that “there will probably never be anything...
Singapore’s Monetary Authority Issues 9-Year Ban on Three Arrows Capital Founders
14.9.2023
The Monetary Authority of Singapore (MAS) has issued nine-year prohibition orders against Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies, banning them from regulated financial activities in the country. The orders come after a MAS investigation that reportedly uncovered multiple...
Celsius Founder Alex Mashinsky’s Bail Set at $40 Million, Travel Restricted Amid Fraud Charges
14.7.2023
Just before the now-defunct crypto lender Celsius was charged by three U.S. federal regulators — the Commodity Futures Trading Commission (CFTC), Securities and Exchange Commission (SEC), and Federal Trade Commission (FTC) — its former CEO, Alexander Mashinsky, was arrested on fraud charges...