Lawmakers in Taiwan are aiming to create a first draft of a special law about offshore exchanges by the end of November 2023. Lawmakers in Taiwan are reportedly aiming to push out a first draft of a special law by the end of November 2023, according to a report from The Block. Yung-Chang Chiang, an…
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FTX’s former chief technology officer reportedly claimed in court that then-CEO Sam Bankman-Fried authorized Alameda Research’s account to trade more funds than it had available. Gary Wang, FTX’s co-founder and former chief technology officer, again appeared in court on the fourth day of the criminal trial of former CEO Sam “SBF” Bankman-Fried to speak on…
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According to FTX’s former chief technology officer, Sam Bankman-Fried committed crimes with himself, Nishad Singh and Caroline Ellison. Gary Wang, the co-founder and former chief technology officer of cryptocurrency exchange FTX, was the latest witness to testify in the criminal trial of former CEO Sam “SBF” Bankman-Fried. According to reports from Inner City Press, Wang…
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Adam Yedidia, a former developer at FTX, testified regarding his knowledge of the crypto exchange’s use of funds, claiming “Alameda had used customer deposits to pay its loans.” On the third day of the criminal trial for Sam “SBF” Bankman-Fried, the former CEO’s roommate at MIT and FTX developer Adam Yedidia testified about the $8-billion…
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London-based cocoa broker Marc-Antoine Julliard responded to questions from prosecutors on crypto he held on FTX in November 2022. The prosecuting attorneys in the criminal case against former FTX CEO Sam Bankman-Fried, also known as SBF, have started to call witnesses. According to an Oct. 4 X (formerly Twitter) thread by Inner City Press, the…
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Sam Bankman-Fried’s legal team has requested the court block certain witnesses offering testimony on how they thought FTX would protect their assets. The criminal trial of former FTX CEO Sam Bankman-Fried (SBF) is currently underway in New York, and his legal team has filed motions aiming to ban testimony from users and investors in the…
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The dropping of the suit came amid Terra facing a lawsuit brought by the U.S. Securities and Exchange Commission and Do Kwon possibly nearing the end of his sentence in Montenegro. A group of investors behind a class-action lawsuit against Terraform Labs and its co-founder Do Kwon over fraud allegations have dropped the case. In…
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The DOJ intends to highlight the experiences of retail and institutional clients who entrusted substantial assets to FTX. The Department of Justice (DOJ) has confirmed its intention to summon former FTX clients, investors and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX CEO. The DOJ submitted a letter motion in…
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Paradigm claimed the SEC is attempting to use the allegations in its complaint to alter the law without adhering to the established rulemaking process. Venture capital firm Paradigm has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in its current legal action against the cryptocurrency exchange Binance. In…
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Bankrupt crypto exchange FTX has been approved to liquidate nearly $3.4 billion worth of crypto assets, creating a sense of panic among crypto investors, but experts say the phased liquidation schedule will ensure market stability. The FTX bankruptcy lawsuit reached a key juncture in the second week of September after the United States Bankruptcy Court…
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