FTX loses $53K every hour on ‘bankruptcy fees,’ latest filings show
More than $118 million in legal and advisory fees were billed to the bankrupt crypto exchange between August and October, amounting to $1.3 million per day. Go to Source
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Sam Bankman-Fried’s lawyer says FTX fraud trial was “almost impossible” to win: Report
The head of Sam Bankman-Fried’s legal defense admitted the odds of winning the FTX fraud trial were stacked against the former CEO. Go to Source
FTX and Alameda move $23.59M in assets to Binance, Coinbase, OKX
The latest transfer of $23.59 million was spread across 19 tokens, including ETH, ALEPH, CRV, AVAX, LINK, DOGE, MATIC, UNI, and SOL. Go to Source
FTX to submit revised reorganization plan in mid-December
Bankrupt, defunct exchange FTX is preparing to present an updated reorganization plan to the court in mid-December. Go to Source
US crypto firms spent more on lobbying in 2023 than before FTX collapse: Report
Government transparency group Open Secrets reported U.S. crypto firms spent roughly $19 million on lobbying from January to September 2023. Go to Source
FTX and Alameda transfers another $22M worth of crypto asset
Following their most recent move, FTX and Alameda Research have transferred another significant amount of digital assets, amounting to an impressive $22 million. Go to Source
Sam Bankman-Fried will not file any post-trial motions, say lawyers
The former FTX CEO was found guilty of seven felony charges on Nov. 2, for which he could face up to 115 years in prison. Go to Source
SBF was almost extorted for ‘protection’ in Brooklyn jail, recalls ex-inmate
Gene Borrello, a former prisoner at MDC, told crypto blogger Tiffany Fong that Sam Bankman-Fried was targeted for his timid nature and having “the body of the 80-year-old.” Go to Source
Fireblocks launches trading system to mitigate centralized exchange risk
The “Off Exchange” trading system was launched by Fireblocks, allowing institutions to trade without fully relinquishing custody. Go to Source
FTX failure reveals flaws in multifunction crypto-asset intermediaries — FSB
The Financial Stability Board suggested the crypto industry might still require additional regulatory measures to prevent another FTX-like situation at the hands of crypto service providers. Go to Source
