Sam Bankman-Fried, founder of FTX, is requesting daily access to devices and internet in order to work on his defense after facing new charges following a superseding indictment; however, the judge has only granted him limited access so far.
Sam Bankman-Fried, the founder of FTX, pleaded not guilty to fraud and money laundering charges related to the collapse of his cryptocurrency empire, with the new indictment accusing him of misusing customer funds for personal purposes.
Bankrupt crypto exchange FTX seeks to protect its remaining assets through hedging arrangements and generating yield, while also enlisting Mike Novogratz and Galaxy Digital as its investment adviser to preserve value for stakeholders and sell recovered digital assets.
Digital asset management firm Galaxy Digital is set to manage bankrupt exchange FTX's cryptocurrency holdings and facilitate the staking of certain tokens to generate passive yield.
FTX founder Sam Bankman-Fried is seeking to have a series of expert witnesses testify on his behalf in his upcoming trial, with prices ranging from $400 to $1,200 an hour, as prosecutors try to block their testimony.
FTX Debtors have disclosed payments benefiting company executives leading up to the collapse of the cryptocurrency exchange, including a $2.51 million transaction to former Alameda Research co-CEO Sam Trabucco and the purchase of Robinhood shares by FTX co-founders Bankman-Fried and Wang.
FTX's transfer of $10 million worth of digital assets from the Solana network to Ethereum has raised concerns about potential token dumps amid the exchange's bankruptcy proceedings.
FTX, a prominent cryptocurrency exchange, favored top executives with transactions that enriched them just before its downfall in 2022, according to financial statements presented to the United States Bankruptcy Court for the District of Delaware.
Former FTX founder Sam Bankman-Fried received nearly $1 billion in cash payments from the crypto exchange before its collapse, while other ex-executives also benefited from the funds, court filings reveal.
Ryan Salame, a top executive at FTX, will forfeit $1.5 billion and has pleaded guilty to federal criminal charges related to political fundraising and operating an unlicensed money transferring business, in connection with FTX's founder Sam Bankman-Fried's upcoming fraud trial.
FTX founder Sam Bankman-Fried's lawyers claim that prosecutors have failed to provide him with the necessary computer resources to prepare for his upcoming trial related to the collapse of a crypto exchange, as he remains in jail awaiting trial.
Cryptocurrency exchange FTX is expected to receive court approval to liquidate $3.4 billion in cryptocurrencies, causing concern among stakeholders and potentially impacting Ethereum, Solana, and altcoins.
FTX has released the presentation materials for its shareholder meeting, revealing that over 2,300 non-customer claims worth $65 billion have been filed against the cryptocurrency exchange, while 36,075 customer claims worth $16 billion have been filed, with 10% already agreed upon. FTX's assets amount to over $7 billion and include digital assets, cash, brokerage investments, venture portfolio, tokens, and real estate. The company is also considering potential actions against insiders, political and charitable donation clawbacks, and actions against vendors. Over 75 potential bidders have been contacted for the relaunch of FTX, and a recovery plan confirmation is expected in Q2 2024. There are reports that FTX may liquidate a significant portion of its crypto holdings.
FTX, a failed crypto exchange, holds $1.16 billion worth of Solana SOL tokens, along with Bitcoin and Ethereum, in its $3.4 billion crypto portfolio.
FTX's plan to sell $3.4 billion worth of crypto to return fiat currency to users, along with pressure on crypto venture capital funds to return funds, is expected to create an overhang for altcoins, leading to potential declines in prices.
Crypto exchange FTX has amended its proposal to sell billions in crypto assets, addressing concerns raised by the U.S. Trustee, by agreeing to keep them privately informed alongside creditors' committees.
Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware has granted FTX permission to sell, invest, and hedge its crypto holdings, valued at over $3.4 billion, in order to pay back creditors.
The collapsed crypto exchange FTX has been granted permission to liquidate its digital assets to repay creditors, including Bitcoin, Ether, and Solana, amounting to around $3.4 billion. The founder of FTX, Sam Bankman-Fried, is facing charges of fraud and conspiracy, with his bail being revoked last month.
