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A professor at Cornell University’s Dyson School, Eswar Prasad, has raised concerns about the increasing risks in the cryptocurrency market, pointing to regulatory gaps and centralization as key issues. “If anything, crypto today presents even greater risks to its investors and to our financial institutions than it did before,” he said. Cornell Professor’s Crypto Warning … Read more
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
United States District Judge Peter Castel has officially signed off on a settlement between FTX and the commodities regulator, meaning $12.7 billion will be paid back to FTX creditors. Go to Source
Nishad Singh and Sam Bankman-Fried contributed to the campaigns of two Minnesota policymakers mere days before FTX’s collapse in 2022. Go to Source
Bitwise’s Matt Hougan said the idea that US politicians are even considering Bitcoin as a reserve asset is a monumental step given it felt more like a “daydream” a year ago. Go to Source
Ryan Salame will have an additional 45 days of freedom after his lawyers said there were medical complications due to a dog bite. Go to Source
Lawyers for FTX class action are challenging Sullivan & Cromwell’s dismissal request, claiming the law firm facilitated FTX’s fraudulent activities. Go to Source
Ryan Salame was scheduled to report to prison on Aug. 29 after being sentenced to 90 months for charges related to the misuse of FTX user funds. Go to Source
Former FTX CEO Sam Bankman-Fried reportedly donated roughly $40 million directly to political candidates and PACs in 2022 before the collapse of his crypto exchange. Go to Source
Silvergate Bank, a former crypto-friendly bank, collapsed in March 2023 due to the fallout created by the implosion of the FTX exchange. Go to Source
