The former FTX CEO Sam Bankman-Fried testified Thursday without jurors present. Bankman-Fried was questioned by his attorney, Mark Cohen, before the judge. He described FTX senior staff using encrypted messaging, discussed obtaining Alameda’s bank account, and talked about business operations with former general counsel members. Much of the focus was on FTX’s former lawyers and…
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According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave “at least $10 million” from the now-defunct quantitative trading firm Alameda Research to his…
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Following the former FTX CEO Sam Bankman-Fried’s (SBF) interview with the New York Times and several direct text messages with Reuters, SBF recently did a much longer and more candid interview with Vox journalist Kelsey Piper. After the interview done via Twitter direct messages, the current FTX chief restructuring officer and CEO John Ray explained…
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Following the reports that said FTX wallets were being drained and the FTX Telegram channel’s admins that detailed its possible malware might be present in FTX-related apps and websites, the company’s new CEO John Ray confirmed there were “unauthorized transactions.” The news was shared by FTX US’s general counsel Ryne Miller and retweeted by FTX’s…
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On Nov. 9, 2022, a day after the news broke regarding Binance planning to purchase the exchange FTX, the crypto economy dropped 11.17% in 24 hours. The crypto economy has slid under $900 billion for the first time since January 2021. The Binance and FTX news has come as a shock to a lot of…
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According to a report shared by an FTX staff member, prior to Binance announcing it would acquire the exchange, CEO Sam Bankman-Fried explained that in 72 hours FTX saw roughly $6 billion in withdrawals. Furthermore, the staff member’s account notes that withdrawals on the exchange FTX.com were “effectively paused.” Report Claims FTX CEO Said Exchange…
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The crypto community is upset about a recent discovery stemming from the Celsius bankruptcy case as a court filing has revealed over 14,000 pages of the usernames and trading histories of the company’s customers. While the file does not disclose personal information tied to the user’s finance providers or the customer’s residential address, the crypto…
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According to a filing published by the U.S. Bankruptcy Court for the Southern District of New York, the crypto lending firm Celsius has been given a final bid deadline of October 17, 2022. Following the bankruptcy court’s final bid deadline, a sale hearing is scheduled for November 1. A report published last week noted that…
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According to reports on social media, a number of users have complained that FTX has blocked a transaction that was associated with the Aztec Network’s zkmoney privacy technology. Following the accusations, FTX CEO Sam Bankman-Fried explained that transactions are monitored for AML compliance but it “does not mean any accounts were frozen.” Journalist Wu Blockchain…
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FTX has announced that FTX Pay’s infrastructure has integrated with the social media and news aggregation forum Reddit’s Community Points system. The integration has been rolled out in the U.S., EU, Australia, and other countries worldwide. FTX Pay will also join Infura, P2P, Google Cloud, and other companies and projects in order to create a…
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