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FTX Loaned Millions to Australian Influencer to Ward Off Potential Litigation, Bankruptcy Report Reveals

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According to a bankruptcy report from FTX, the defunct cryptocurrency exchange loaned an Australian influencer slightly more than $13 million. This loan was intended to assist him in repaying investors. The exchange proposed lending Saunders millions of dollars to prevent potential harm to its reputation and avoid litigation. Bankruptcy Report Contradicts Saunders’ Previous Assertions The … Read more

FTX Reaches Settlement With IRS on $24 Billion Tax Claim

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Crypto exchange FTX has reached a settlement with the Internal Revenue Service (IRS), reducing its $24 billion claim to $200 million to be paid within 60 days after the company’s restructuring plan is approved. Additionally, the U.S. tax authority will receive a $685 million lower priority claim, payable only if funds are available after satisfying … Read more

Former FTX Executive Ryan Salame Sentenced to 7.5 Years for Criminal Charges

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Former FTX executive Ryan Salame was sentenced to seven and a half years in prison by Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York after pleading guilty to criminal charges, including engaging in an unlawful political influence campaign and operating an unlicensed money transmitting business. Salame, who once … Read more

Report: Investigation Finds No Fault With Sullivan & Cromwell in FTX Bankruptcy

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An investigation into the law firm Sullivan & Cromwell LLP, which worked with the now-defunct crypto exchange FTX, revealed that the firm was neither involved in the fraud nor aware of the financial troubles that plagued the collapsed trading platform. Sullivan & Cromwell Cleared of Negligence in FTX Collapse Following a recent investigation, former U.S. … Read more

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