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FTX Bankruptcy Judge Denies US Trustee’s Request for Independent Examiner
16.2.2023
The judge presiding over the FTX bankruptcy case has denied the U.S. Trustee’s request to appoint an independent examiner for the ongoing proceedings. The decision comes after judge John Dorsey postponed the ruling last week, citing concerns that the examiner could cost creditors tens...
SEC and CFTC Lawsuits Against Former FTX CEO Paused Until Criminal Proceedings Conclude
14.2.2023
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...
FTX debtors seek subpoenas for inner circle of Sam Bankman-Fried
1.2.2023
FTX and affected parties have requested court subpoenas to force Sam Bankman-Fried’s closest advisors to provide documents and information for ongoing investigations
FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings
31.1.2023
FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe...
Objections Raised Over Appointment of Sullivan & Cromwell as Debtors’ Counsel for FTX
21.1.2023
On Friday, bankruptcy judge John Dorsey approved the law firm Sullivan & Cromwell (S&C) to be appointed as the debtors’ counsel for FTX, despite an objection from Daniel Friedberg, a former FTX US compliance officer. During a Zoom presentation, Friedberg claimed there was a conflict...
Sullivan & Cromwell Gets Go-Ahead to Represent FTX in Bankruptcy Proceedings, Despite Controversy
20.1.2023
James Bromley, a partner at Sullivan & Cromwell, said former CEO Sam Bankman-Fried has been stirring the pot by “lashing out” on Twitter
Monex wants to buy FTX Japan amid bankruptcy proceedings: Report
16.1.2023
Monex CEO Oki Matsumoto said that it will be a “very good thing” for them if there will be less competition in the market
Poland’s Consumer Protection Agency Opens Case Against Cryptocurrency Exchange
15.1.2023
The body ensuring that consumer rights are respected in Poland has initiated proceedings against a crypto exchange falsely claiming to be Polish. The trading platform also misled customers that it was operating with the regulatory approval of the financial authorities in the country. Belize-based...
FTX Users Sue for Priority Repayment and Damages in Bankruptcy Proceedings
28.12.2022
The class action lawsuit accuses the bankrupt crypto exchange of misappropriating user funds
FTX creditor committee hires Paul Hastings LLP for bankruptcy proceedings: Report
22.12.2022
After evaluating several law firms, FTX's unsecured creditors' committee has chosen a legal adviser
BTC-e’s Alexander Vinnik Applies for Release on Bail Citing Trial Delay
21.12.2022
The alleged operator of crypto exchange BTC-e, Alexander Vinnik, has asked to be released on bail due to the delay in court proceedings. In early August, the Russian IT specialist was extradited to the United States to face charges of money laundering through the now-defunct coin trading platform....
Court Documents Say FTX Boss Ryan Salame Snitched on SBF 2 Days Before the Bankruptcy Filing
15.12.2022
According to court documents associated with the FTX bankruptcy proceedings, on Nov. 9 — two days before the company filed for Chapter 11 bankruptcy protection — FTX co-CEO Ryan Salame told Bahamian authorities that Sam Bankman-Fried (SBF) sent customer funds to the firm Alameda Research. A letter...
New York Times, FT, Bloomberg Blasted for Attempting to Get FTX Creditors’ Names Unsealed
11.12.2022
Amid the ongoing FTX bankruptcy proceedings, court documents indicate that media firms such as Bloomberg, the New York Times (NYT), Dow Jones & Company, and the Financial Times (FT) want the redacted information tied to FTX creditors unsealed. The media companies believe the public should...
First Mover Asia: Here’s What Might Happen to Sino Global’s Liquid Value Fund During FTX’s Bankruptcy Protection Proceedings
8.12.2022
Crypto Twitter wanted to know the potential consequences of having Alameda and Sam Bankman-Fried as partners in a fund. So we asked a Hong Kong-based lawyer who specializes in asset tracing and recovery; bitcoin dips but not much
US Trustee Plans to Appoint an Examiner to FTX Case, While SBF Describes Strange Margin Trading Practices
2.12.2022
On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse...
LedgerX to Make $175M Available for FTX Bankruptcy Proceedings: Bloomberg
30.11.2022
FTX subsidiary LedgerX is preparing to put up $175 million toward its parent company's bankruptcy proceedings, Bloomberg reported Wednesday, citing people familiar with the matter
Crypto Lender Blockfi Files for Bankruptcy Protection to ‘Maximize Value for All Clients’
28.11.2022
On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings...
FTX logos and promotional material still everywhere despite bankruptcy proceedings
28.11.2022
Though some officials have removed all traces of their deals with FTX, the firm's branding still appears on a few sports venues and merchandise
FTX-Owned Crypto Exchange Liquid Suspends Trading for Bankruptcy Proceedings – Here's What Happened
21.11.2022
Liquid Global, a Japan-based crypto exchange owned by now-bankrupt exchange FTX, has halted all trading after being “instructed” to do so by the law firm handling the bankruptcy.
“We have been instructed by [law firm Sullivan & Cromwell], who act for FTX Trading, to pause all forms of trading...
Crypto Exchange FTX Fires 3 Top Executives, Report Reveals
19.11.2022
Three high-ranking executives of failed cryptocurrency exchange FTX have reportedly been dismissed. Among them is one of the co-founders of what was one of the industry’s largest trading platforms, which is currently in bankruptcy proceedings in the U.S. court system. 3 Members of FTX Management...