Tom Brady and other celebrities named in class action lawsuit against FTX
Evidence suggests “FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors,” according to the lawsuit. Go to Source Powered by WPeMatico
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Sam Bankman-Fried updates investors: ‘We got overconfident and careless,’ claims $13B leverage
“I was on the cover of every magazine, and FTX was the darling of Silicon Valley,” said the former CEO on the crypto firm’s path to bankruptcy. Go to Source Powered by WPeMatico
US House Committee to Investigate and Hold Bipartisan Hearing on FTX Collapse
The U.S. House Financial Services Committee is planning to investigate the FTX collapse, according to a joint press release published by the committee’s chair Maxine Waters and representative Patrick McHenry. Furthermore, a congressional hearing is scheduled to take place in December, according to the joint statement. Bipartisan Congressional Hearing to Be Held in December Over … Read more
DeFi platforms see profits amid FTX collapse and CEX exodus
On-chain data flashed positive for DEXs and an increase in protocol revenue, even as markets corrected due to FTX’s insolvency. Go to Source Powered by WPeMatico
Bybit releases reserve wallet addresses amid calls for transparency
The wallets seem to indicate that over $1billion worth of BTC, USDT, ETH, and USDC are held by the exchange. Go to Source Powered by WPeMatico
Crypto skeptic Brad Sherman: federal financial regulators ‘sound like Sam Bankman-Fried’
The U.S. lawmaker suggested four financial regulatory heads had done little to address “crypto billionaire bros” using digital assets for the evasion of sanctions and taxes. Go to Source Powered by WPeMatico
Tom Brady, Gisele Bündchen, Kevin O’Leary, and 9 Other Celebrities Named in FTX-Related Class-Action Lawsuit
Former FTX CEO Sam Bankman-Fried (SBF) and a number of celebrities including Tom Brady, Gisele Bündchen, Stephen Curry, and Shaquille O’Neal have been named in a class-action lawsuit involving the alleged engagement in deceptive practices with FTX. The lawsuit was filed by the attorneys Adam Moskowitz and David Boies late Tuesday, and the suit alleges … Read more
FTX collapse was a ‘dumpster fire’, says US lawmaker announcing investigative hearing
“There is no sugarcoating it: the FTX collapse has been a dumpster fire,” said House Financial Services Committee ranking member Patrick McHenry. Go to Source Powered by WPeMatico
Report: Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan Originations
Following Blockfi, Liquid Global, and Salt Lending halting withdrawals, reports indicate that Genesis Global Trading’s lending unit has halted customer withdrawals. Genesis’ interim chief executive officer Derar Islim said that the company’s trading and custody units were still operational. DCG-Owned Genesis Halts Lending Unit’s Redemptions and New Loans On Nov. 16, 2022, Coindesk reporter Nelson … Read more
FTX Bitcoin stash worth same as Mt. Gox 840K BTC before hack
The infamous Mt. Gox Bitcoin hack cost the same in U.S. dollar terms as FTX emptying its 20,000 BTC balance. Go to Source Powered by WPeMatico