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A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of Enforcement, emphasized that this multibillion-dollar recovery is the largest recovery in CFTC history. FTX and Alameda Ordered … Read more
FTX is poised to repay nearly all its account holders fully, according to a reorganization plan presented in court. The bankrupt cryptocurrency exchange has raised about $15 billion mainly by selling investments from itself and its affiliate, Alameda Research. This fund will ensure payments of 118 cents on the dollar for 98% of creditors with … Read more
John J. Ray III, the chief executive officer of FTX Trading Ltd., has issued a strong rebuttal against former CEO Sam Bankman-Fried’s assertions regarding the company’s financial state and the impact on its creditors. FTX Chief Restructuring Officer and CEO Debunks Bankman-Fried’s FTX Solvency Claims John J. Ray III outlined the extensive efforts made to … Read more
Deltec Bank and Trust Ltd, based in The Bahamas, stands accused of covertly extending a $2 billion line of credit to Alameda Research. A lawsuit, filed by those who claim to be victims of Sam Bankman-Fried, accused Deltec of granting a three-day grace period to Alameda Research for the settlement of purchased stablecoins. Misappropriation of … Read more
FTX Foundation employee Ross Rheingans-Yoo said he was not part of Sam Bankman-Fried’s “inner circle” and knew nothing about FTX’s fraud. Go to Source
According to Spot On Chain data, the firms sent $10 million worth of crypto to a single wallet address, which then deposited the funds to Binance and Coinbase. Go to Source
A 75-minute recording, obtained by Cointelegraph, shows the exact moment former Alameda Research CEO Caroline Ellison told employees about their use of FTX customer deposits. Go to Source
U.S. prosecutors, meanwhile, want to ask prospective jurors their beliefs on how cryptocurrency should be regulated. Go to Source
The payment to the American Yacht Group was disclosed under the category of payments benefiting any insider within one year prior to the crypto exchange collapse. Go to Source
Former FTX and Alameda Research executives Sam Bankman-Fried, Caroline Ellison, Gary Wang and Nishad Singh were named in the suit from FTX. Go to Source Powered by WPeMatico
