The former CEO of the troubled crypto lender faces multiple charges of fraud and market manipulation as U.S. regulators eye crypto market overhaul. Celsius was one of the top lenders in the crypto ecosystem during the bull market in 2021. At its peak, it served 1.7 million customers and managed $25 billion in assets. All…
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Following a partial court victory in the United States, crypto company Ripple intends to stay focused on markets with clear regulations for the industry, including jurisdictions in Asia such as Singapore and Hong Kong. The U.S.-based blockchain firm also plans an expansion in the U.K. and Europe, according to media reports quoting Ripple executives. Ripple…
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According to court documents, Gabriel Bankman-Fried wrote a memo to the FTX Foundation with a plan to build a bunker to survive “some event where 50%-99.99% of people die.” Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried, had a plan to survive a global catastrophe using funds from the now-defunct cryptocurrency exchange. According…
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A court document penned by U.S. Department of Justice attorney Damian Williams alleges FTX co-founder Sam Bankman-Fried released diary excerpts from former Alameda CEO Caroline Ellison. The U.S. attorney asserts that Bankman-Fried intended to discredit the government’s key witness by disseminating the diary content. FTX Co-Founder Allegedly Leaked Caroline Ellison’s Diary Excerpts The U.S. Department…
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Prime Trust will have the opportunity to show why a petition from the Nevada Financial Institutions Division should not be permanently granted in an Aug. 22 hearing. The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing…
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In a legal document lodged on July 13, 2023, Sam Bankman-Fried, the former chief executive officer and founder of FTX, expressed his desire for his “close friends” to drop by his parents’ residence “without the need for a security guard to be present.” The plea from Bankman-Fried petitioned the court to maintain confidentiality regarding the…
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Crypto lending firm BlockFi had roughly $1.2 billion in assets tied to FTX and Alameda Research when the firm filed for bankruptcy in November 2022. Zac Prince, the CEO of bankrupt cryptocurrency lending firm BlockFi, allegedly disregarded recommendations from the company’s risk management team over lending assets to Alameda Research. According to a July 14…
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Under bail conditions, only Sam Bankman-Fried’s lawyers are exempt from security checks, now they’ve asked if this can be extended to “close friends.” Former FTX CEO Sam Bankman-Fried wants to be able to have his “close friends” visit him at his parent’s home without them being subject to security checks. In a July 13 letter…
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Fir Tree hinted at potential additional litigation against Grayscale and parent company Digital Currency Group based on what its GBTC documentation may reveal. Grayscale Investments has reached an agreement with New York-based investment firm Fir Tree Capital Management over its Bitcoin Trust. According to a July 11 announcement from Fir Tree, Grayscale agreed to provide…
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Terra co-founder Do Kwon is currently in custody in Montenegro, while Daniel Shin’s trial preparations in South Korea are reportedly underway. Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, has reportedly had his first hearing for charges related to allegedly illicit profits from the sale of Terra (LUNA). According to a July 10…
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