FTX debtors and UCC clash over asset control in restructuring
FTX strongly criticized the UCC’s pursuit of asset control, as it recommended that debtors allocate nearly $2.6 billion from cash reserves into short-term Treasuries. Go to Source
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Temasek, Sequoia Capital, Softbank and 15 VCs face lawsuit for “abating” FTX fraud
The lawsuit alleged that these VC firms made many deceptive and misleading statements about FTX while encouraging customers to invest in the exchange for their personal gain. Go to Source
Former FTX exec Ryan Salame and US prosecutors are discussing a plea deal: Report
It’s unclear whether any reported guilty plea from Ryan Salame would have the former FTX Digital Markets co-CEO testify at Sam Bankman-Fried’s trial in October. Go to Source
FTX has a plan, but creditors are not impressed: Law Decoded
A body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan. Go to Source
FTX files motion to exclude its Dubai unit from bankruptcy proceedings
FTX filed for bankruptcy in November last year, entering into Chapter 11 proceedings with 102 units around the world. Go to Source Powered by WPeMatico
Elon Musk tweets and Twitter bot spam influences altcoin prices: Study
The study also questioned whether FTX or Alameda had any role in coordinating Twitter bot activity for its own gain. Go to Source Powered by WPeMatico
Bankruptcy judge signs off on order allowing Terraform Labs to subpoena FTX entities
Terraform Labs claimed that the failures of its algorithmic stablecoin and governance token were the result of an attack from short sellers, potentially involving Alameda Research. Go to Source Powered by WPeMatico
FTX.com releases restructuring plan, hints at rebooted offshore exchange
Reams of dockets from FTX.com have been filed alongside a proposed reorganization plan which could see FTX resurrected as an offshore exchange. Go to Source Powered by WPeMatico
DOJ seeks SBF’s bail revocation over tampering, diary leak allegations
The letter revealed that on January 15, 2023, the defendant reached out to the current General Counsel of FTX U.S., who could potentially serve as a witness in the trial. Go to Source Powered by WPeMatico
Sam Bankman-Fried’s legal team turns over docs related to NYT story, requests they be sealed
Lawyers claimed there was a “need to avoid” the public dissemination of documents Sam Bankman-Fried had shown a New York Times reporter which led to a story on Caroline Ellison. Go to Source Powered by WPeMatico