On Tuesday, Sept. 24, 2024, Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison after admitting to her involvement in several crimes. The courtroom banned cameras, video, and phone recordings during the sentencing. Even though the judge commended her in court, saying, “I’ve seen a lot of cooperators in…
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The U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights and violations of key industry standards, raising questions about the firm’s practices and the risks it missed. “Prager’s…
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Sam Bankman-Fried’s (SBF) FTX Group allegedly paid over $25 million in hush money to seven whistleblowers prior to the doomed crypto exchange collapse in November 2022, a bombshell independent examinator’s Thursday report found. FTX Whistleblowers Agreed To Settlement Deals Prior To Collapse Robert Cleary, the independent examiner tasked with conducting the report, discovered the now-settled…
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FTX is poised to repay nearly all its account holders fully, according to a reorganization plan presented in court. The bankrupt cryptocurrency exchange has raised about $15 billion mainly by selling investments from itself and its affiliate, Alameda Research. This fund will ensure payments of 118 cents on the dollar for 98% of creditors with…
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A May 6 transfer of $8.3 million associated with the now-bankrupt FTX exchange and its sister trading firm, Alameda Research, has raised questions about the future of creditors awaiting compensation. The transfer occurred just a day before FTX debtors were scheduled to release an amended restructuring plan for the exchange, adding a layer of intrigue…
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Disgraced FTX founder Sam Bankman-Fried officially filed on April 11 his notice of appeal for his FTX trial and is requesting to stay in a Brooklyn, New York prison in order to be closer to his legal team. Sam Bankman-Fried Formally Files FTX Trial Appeal In the court filing, lawyers for Bankman-Fried formally filed to…
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John J. Ray III, the chief executive officer of FTX Trading Ltd., has issued a strong rebuttal against former CEO Sam Bankman-Fried’s assertions regarding the company’s financial state and the impact on its creditors. FTX Chief Restructuring Officer and CEO Debunks Bankman-Fried’s FTX Solvency Claims John J. Ray III outlined the extensive efforts made to…
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The first prison photo of former FTX CEO Sam Bankman-Fried in prison was released on Tuesday by crypto influencer Tiffany Fong on February 19. The photo depicts a somewhat disheveled Bankman-Fried in what Fong believes may be the first image of the now disgraced crypto mastermind following his arrest in August 2023. The Last Photo of…
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Deltec Bank and Trust Ltd, based in The Bahamas, stands accused of covertly extending a $2 billion line of credit to Alameda Research. A lawsuit, filed by those who claim to be victims of Sam Bankman-Fried, accused Deltec of granting a three-day grace period to Alameda Research for the settlement of purchased stablecoins. Misappropriation of…
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Worldcoin, the digital identity token ERC-20 project on the Ethereum (ETH) blockchain, has garnered significant attention. Its native token, WLD, emerges as the top performer among the top 100 cryptocurrencies by market capitalization. The token has experienced a remarkable 31% uptrend in just 24 hours and a staggering 217% surge over the past fourteen days.…
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