Southern District of New York – DIGIT INFO

US Court Orders FTX and Alameda to Pay Fraud Victims $12.7 Billion in Historic CFTC Recovery

DIGIT — Thu, 08 Aug 2024 18:05:57 +0000

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 […]

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SVB Financial Group Files for Chapter 11 Bankruptcy Protection to ‘Preserve’ Firm’s Value

DIGIT — Fri, 17 Mar 2023 19:05:00 +0000

On March 17, 2023, SVB Financial Group, the parent company of Silicon Valley Bank, filed for Chapter 11 bankruptcy protection in the Southern District of New York. The company stated that it is no longer associated with Silicon Valley Bank (SVB) after the Federal Deposit Insurance Corporation (FDIC) placed it into receivership last week. 3 […]

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FBI, NY authorities probes collapse of TerraUSD stablecoin: Report

DIGIT — Tue, 14 Mar 2023 00:47:35 +0000

The controversial founder of Terraform Labs, Do Kwon is at the center of the investigation, despite believed to be hiding out in Serbia.

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Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto Fraud

DIGIT — Thu, 16 Feb 2023 23:41:30 +0000

The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in […]

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SEC and CFTC Lawsuits Against Former FTX CEO Paused Until Criminal Proceedings Conclude

DIGIT — Tue, 14 Feb 2023 15:30:09 +0000

Two civil lawsuits, stemming from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), against former FTX CEO Sam Bankman-Fried will be paused until his criminal proceedings are complete. US Attorney Requests Pause on SEC and CFTC Lawsuits to Prevent ‘Judicial Overlap’ According to the latest decision by a New […]

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FTX Co-Founder Sam Bankman-Fried Seeks Removal of Bail Restrictions on Crypto Asset Transfers

DIGIT — Sat, 28 Jan 2023 17:30:28 +0000

Sam Bankman-Fried, the disgraced co-founder of FTX, is seeking access to crypto assets associated with FTX and Alameda Research, according to a letter written by his attorney, Mark Cohen. Cohen insists that the existing bail conditions “related to crypto asset transfers should be removed.” Bankman-Fried’s Legal Team Argues for Removal of 2 Bail Conditions In […]

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Disgraced FTX Co-Founder Awaits Trial, Passes Time Playing Video Games and Blogging on His New Substack Newsletter

DIGIT — Fri, 13 Jan 2023 22:04:46 +0000

The former CEO of FTX, Sam Bankman-Fried (SBF), has published a Substack newsletter on Jan. 12, 2023, and the first post is titled “FTX Pre-Mortem Overview.” In the post, SBF maintains that an “extreme, quick, targeted crash precipitated by the CEO of Binance made Alameda insolvent.” The blog post does not mention the allegations made […]

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Former FTX Director of Engineering Under Scrutiny by US Law Enforcement, Alleged Proffer Sessions Held With Prosecutors in New York

DIGIT — Tue, 10 Jan 2023 20:30:39 +0000

U.S. law enforcement officials are reportedly scrutinizing Nishad Singh, the former director of engineering at FTX, according to a report citing people familiar with the matter. Another report, published on Jan. 10, 2023, details that Singh met with federal prosecutors at an alleged proffer session held at the U.S. attorney’s office for the Southern District […]

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US Feds put together ‘FTX task force’ to trace stolen user funds

DIGIT — Wed, 04 Jan 2023 03:00:23 +0000

United States Attorney Damian Williams said the office is working “around the clock” to respond to the implosion of FTX.

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Maybe it WAS illegal: Mango Markets exploiter arrested on fraud charges

DIGIT — Wed, 28 Dec 2022 00:59:55 +0000

The Mango Markets exploiter previously called his attack on the crypto exchange “legal open market actions.”

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