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According to lawyers representing FTX’s provisional liquidators, allegations that Bahamian officials were giving residents preferential treatment were “wholly without merit”. Go to Source Powered by WPeMatico
Sam Bankman-Fried faces eight accusations and could get 115 years in jail, but a final sentence could take months or even years. Go to Source Powered by WPeMatico
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 … Read more
The committee would play a role in representing creditors who lost funds or were otherwise affected by the downfall of FTX, reported to be one million people. Go to Source Powered by WPeMatico
Germany’s financial watchdog has issued a call for global regulation of the crypto industry in the aftermath of the FTX collapse. The hands-off approach was wrong, the head of the agency says, insisting it’s time to protect consumers as the sector expands links with traditional finance. Bafin President Convinced Self-Regulation Won’t Work for Crypto The … Read more
Court filings show Ryan Salame tipped off the Bahaman securities regulator, telling them that FTX was sending customer funds to Alameda Research. Go to Source Powered by WPeMatico
Binance founder Changpeng Zhao (CZ) has reportedly told staff to expect some difficult months as the leading cryptocurrency exchange is seeing customer withdrawals. The warning comes while the crypto industry is facing challenges after high-profile bankruptcies and amid tightening regulations. $3 Billion Pulled Out From Binance at Peak, Nansen Data Shows Binance, the world’s largest … Read more
SBF blamed the current CEO, his legal counsel, the law firm he appointed for bankruptcy, and Binance CEO CZ, without admitting any wrong on his part. Go to Source Powered by WPeMatico
Countering some of SBF’s claims, John Ray said that “FTX US was not operated independently of FTX.com” and a Chapter 11 filing was necessary to avoid a bank run. Go to Source Powered by WPeMatico
According to the mining firm, “inadvertently published materials” led to the suspension of trading of Argo Blockchain on the London Stock Exchange and Nasdaq on Dec. 9. Go to Source Powered by WPeMatico