Bankruptcy Case – DIGIT INFO

Ex-Alameda exec Trabucco gives up yacht, apartments in FTX settlement

DIGIT — Mon, 11 Nov 2024 22:02:34 +0000

Sam Trabucco left Alameda Research months before the FTX collapse and kept his head down — probably on his yacht Soak My Deck.

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Avalanche Foundation to buy back nearly 2M AVAX sold to Terra in 2022

DIGIT — Mon, 14 Oct 2024 02:39:09 +0000

In 2022, the Avalanche Foundation sold 1.97 million AVAX worth $100 million at the time to Terra’s foundation before its collapse. It’s now buying it all back for $45.5 million.

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New Research Paper Sheds Light on Alleged Conflicts of Interest in FTX’s Chapter 11 Filing

DIGIT — Fri, 22 Mar 2024 18:45:56 +0000

A recent research paper on SSRN by legal scholars scrutinizes the ethical quandaries and potential conflicts of interest surrounding Sullivan & Cromwell LLP’s involvement in FTX’s Chapter 11 bankruptcy filing. Study Highlights Legal Ethics From FTX Bankruptcy Proceedings The SSRN research paper entitled “Conflicting Public and Private Interests in Chapter 11” meticulously explores the controversial […]

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SEC objection to Voyager-Binance.US deal questioned by US judge

DIGIT — Fri, 03 Mar 2023 03:29:34 +0000

A U.S. judge scolded the SEC over its non-specificity on its objection to Voyager’s restructuring deal and asked for specifics on its concerns.

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Former FTX Executive Accused of Fueling a Charity Through Discounted FTT Purchase

DIGIT — Wed, 15 Feb 2023 15:00:36 +0000

A former executive of FTX allegedly earned profits for a charity by purchasing discounted FTX tokens, FTT, before they became available to the public at $0.05 per unit, according to a report citing anonymous sources. Ruairi Donnelly, the former chief of staff at FTX, has been accused of donating the tokens to Polaris Ventures, a […]

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FTX Lawyers Attempt to Question Bankman-Fried’s Family and Inner Circle for Financial Insight

DIGIT — Fri, 27 Jan 2023 19:30:33 +0000

According to court documents in the FTX bankruptcy case, the company’s attorneys seek to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, and his parents, Joseph Bankman and Barbara Fried. Additionally, the attorneys intend to question some of Bankman-Fried’s top deputies, including FTX co-founder Gary Wang, ex-Alameda Research CEO Caroline Ellison, the former chief […]

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Objections Raised Over Appointment of Sullivan & Cromwell as Debtors’ Counsel for FTX

DIGIT — Sat, 21 Jan 2023 20:30:18 +0000

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 of interest between former and current FTX executives and FTX […]

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FTX Customers File Class Action to Claim Assets Within Bankruptcy Case

DIGIT — Wed, 28 Dec 2022 17:30:29 +0000

A group of customers are now suing FTX in an attempt to become the first to recover funds from the insolvent cryptocurrency exchange. The lawsuit, filed as part of the bankruptcy case in Delaware, seeks a court ruling recognizing that their holdings with the trading platform belong to them rather than the failed company. Customers […]

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Court Documents Say FTX Boss Ryan Salame Snitched on SBF 2 Days Before the Bankruptcy Filing

DIGIT — Thu, 15 Dec 2022 20:30:38 +0000

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 written by Salame sent to the Bahamian commissioner […]

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Bankruptcy Lawyers Say FTX Was Operated by ‘Inexperienced and Unsophisticated Individuals’

DIGIT — Wed, 23 Nov 2022 17:30:08 +0000

On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that FTX executives left the lawyers James Bromley and Sullivan Cromwell with limited information. Bromley further likened the former FTX CEO Sam Bankman-Fried’s (SBF) crypto empire […]

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