FTX has challenged the potentially fatal tax claims levied by the IRS last month for $24 billion. Image by Michael O’Keene, Adobe Stock. According to a November 30 filing by FTX debtors, the IRS tax claims of $24 billion filed in early November are “completely unsubstantiated” and FTX has now requested that the claims be…
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The market is warming to FTX claims, with one claim going for between 52 and 53 cents on the dollar at auction on Friday. The market for FTX creditor claims has been heating up, with some claims now reportedly selling for more than 50 cents on the dollar, according to Thomas Braziel, partner at 117…
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As the FTX trial is unfolding, recent testimony has revealed major internal issues at the cryptocurrency exchange, raising questions about the industry at large. The revelations come amid a week of heated courtroom debates and could reshape the way cryptocurrency exchanges operate in the future…. Read More: FTX Scandal: What the Latest Testimony Means for…
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A 75-minute recording obtained by Cointelegraph shows the exact moment former Alameda Research CEO Caroline Ellison told employees about their use of FTX customer deposits. A 75-minute secretly recorded audio clip of Caroline Ellison has revealed the exact moment 15 former Alameda Research staff found out the hedge fund was “borrowing” user funds from FTX. …
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FTX’s so-called “Backstop Fund” figure was a big lie, according to the crypto exchange’s former chief technology officer. Crypto exchange FTX used hidden Python code to misrepresent the value of its insurance fund — a pool of funds meant to prevent user losses during huge liquidation events — according to testimony from FTX co-founder Gary…
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Matt Huang said he was led to believe that Alameda Research was not being provided any special treatment by FTX. Sam “SBF” Bankman-Fried was “very resistant” to having investors join the board of directors at FTX, claims Matthew Huang, co-founder and managing partner of crypto investment firm Paradigm. Paradigm and a number of venture capital…
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Despite campaign finance charges being dropped in July, the prosecution has been granted permission to present evidence of Bankman-Fried’s political donations in his upcoming fraud trial. Prosecutors from the United States Department of Justice will be allowed to surface the details of Sam Bankman-Fried’s political donations as the evidence is directly relevant to his fraud…
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In a major development today, FTX has received judicial approval to liquidate its cryptocurrency assets to repay its creditors. The permission came from the U.S. Bankruptcy Court for the District of Delaware. This move enables FTX, which is undergoing bankruptcy proceedings, to not only sell but also stake and hedge its substantial cryptocurrency portfolio, currently…
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Sam Bankman-Fried’s attorneys have raised concerns regarding the measures taken by authorities for their client’s upcoming criminal trial in October. In an August 25 submission to the United States District Court for the Southern District of New York, the legal representatives argued that the measures proposed by the prosecutors were not adequate for the FTX…
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Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, has allegedly tried to influence some potential witnesses of his trial via encrypted messaging software Signal. … Read More: US Judge: Sam Bankman-Fried Attempted to Influence Witness via Encrypted Messenger App Read more »Sign up for e-EUR – the progressive stablecoin
