November 22, 2024 at 02:35 PM GST updated: November 22, 2024 at 02:36 PM 2 mins read News FTX to start customer payouts in early 2025 as Chapter 11 bankruptcy wraps up. Customers must verify accounts and submit tax forms to qualify for FTX payouts by January 2025. FTX warns claims traders of risks tied…
The U.S. Department of Justice (DOJ) has filed a civil forfeiture complaint to seize cryptocurrency worth about $16 million held in a Binance account. This action is the result of a years-long investigation into suspected illegal activities tied to alleged bribery schemes involving FTX founder Sam Bankman-Fried, also known as SBF. The Alleged Bribery Scheme…
Sam Trabucco, the former co-CEO of Alameda Research and a close associate of FTX founder Sam Bankman-Fried, has reached a preliminary settlement with the creditors of the now-defunct cryptocurrency exchange. In a proposed agreement, Trabucco agreed to relinquish several high-value assets to help repay the bankrupt firm’s debts. The Settlement Deal According to a November…
Alameda Research, the trading arm of the bankrupt crypto exchange FTX, has filed a lawsuit against Aleksandr Ivanov, the founder of the Waves blockchain and its related entities. The court filing on November 10th revealed that Alameda aims to recover at least $90 million, which it states belongs to the firm and the debtors involved…
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….
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…
Nishad Singh, the former FTX head of engineering, was sentenced to time served and three years of supervised release. He avoided further prison for his role in the multibillion-dollar fraud at the collapsed cryptocurrency exchange. Singh, sentenced by Judge Lewis A. Kaplan in New York, also faces an $11 billion forfeiture, becoming the fourth ex-FTX…
178k SOL ($28 million) has been redeemed and moved out of the Solana Proof-of-Stake network following reports that FTX is preparing to repay distressed customers. Meanwhile, victims have accused FTX bankruptcy lawyers of prioritizing clients over creditors for previously selling 30 million SOL to VC firms at a huge discounted rate. A wallet associated with…
October 15, 2024 at 01:30 PM GST updated: October 15, 2024 at 01:19 PM 2 mins read News FTX redeems $28M in SOL tokens, continuing monthly transfers vital to its $16.5B repayment plan. Court approves FTX’s $16.5B plan, with 98% of creditors set to receive cash repayments in 2024-2025. Former Alameda CEO Caroline Ellison and…
On October 7, the new FTX administration filed a motion to settle with Caroline Ellison. The talked-about agreement states that Ellison will turn over every resource she possesses. While Ellison, the former head of Alameda Research, had previously agreed to turn over forfeited assets to the U.S. government, it’s still unclear what motivated the turn…
Este artículo también está disponible en español. Worldcoin, the crypto project co-founded by OpenAI’s CEO Sam Altman, recently saw its token’s price drop over 6% following Alameda Research’s continued sales. Some analysts believe WLD’s price could continue to move sideways before recovering its bullish momentum. Related Reading Alameda Goes On A Worldcoin Sell-off On-chain data…
Market cap stands at $945.5M with a 26.65% decrease in volume. Technical analysis shows support at $1.77 and resistance at $2. Worldcoin (WLD) is currently trading at $1.84, experiencing a 6.87% drop in the last 24 hours. The market cap of WLD stands at $945,494,823, reflecting a 6.27% decrease, positioning it at #69 in the…
Alameda Research has been causing waves with its routine offloading of Worldcoin (WLD) tokens. Even with such massive transfers, however, Worldcoin has proved it has a strong market resilience. It showed notable 30% growth in value over the past month. Source: X Worldcoin deposits are arriving in large batches. The crypto trading firm Alameda Research…
FTX has reached a significant milestone in its bankruptcy proceedings as the US Bankruptcy Court for the District of Delaware has officially approved the company’s reorganization plan. This comes nearly two years after the crypto exchange’s historic collapse in November 2022. FTX Bankruptcy Reorganization Plan Approved The confirmed plan, which received overwhelming support from creditors,…
Caroline Ellison was sentenced to two years in federal prison on Tuesday for her involvement in the FTX fraud scandal. The 30-year-old was also ordered to forfeit $11 billion, which she earned through her association with the now-collapsed cryptocurrency exchange. Ellison’s Cooperation Judge Lewis A. Kaplan, who presided over the case, acknowledged the former Alameda…
On Tuesday, Sept. 24, 2024, Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison after admitting to her involvement in several crimes. The courtroom banned cameras, video, and phone recordings during the sentencing. Even though the judge commended her in court, saying, “I’ve seen a lot of cooperators in…
The U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights and violations of key industry standards, raising questions about the firm’s practices and the risks it missed. “Prager’s…
Caroline Ellison, the former CEO of Alameda Research, is seeking leniency in her sentencing for her role in the FTX fraud. Her lawyers have filed a sentencing memorandum emphasizing her extensive cooperation with authorities and personal acceptance of responsibility for her actions. Caroline Ellison’s Lawyers Push for No Jail Time in FTX Fraud Case In…
Former FTX CEO Sam Bankman-Fried is seeking a new trial, arguing that his previous trial was unfair. Bankman-Fried’s legal team accuses Judge Lewis Kaplan of showing bias during the trial. Sam Bankman-Fried, the former CEO of FTX, has officially appealed his fraud conviction, seeking a new trial and alleging that the judge who oversaw his…
A wallet linked to the bankrupt FTX exchange recently unstaked 177,693 SOL tokens, valued at $23.75 million, from Solana, according to on-chain data. Typically, tokens are sent to exchanges to be sold after unstaking. However, as of press time, FTX has yet to move its unstaked Solana holdings. Nevertheless, the transaction raised concerns that FTX…
According to a late Tuesday filing from her lawyers, Caroline Ellison, the former CEO of Alameda Research, should be sentenced to time served and supervised release. The request comes ahead of her scheduled sentencing on September 24, 2024, for her involvement in the collapse of the cryptocurrency exchange FTX. Extraordinary Cooperation In the Tuesday filing,…