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,…