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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According to the Wall Street Journal, the convicted FTX co-founder Sam Bankman-Fried (SBF) is being transferred from the Metropolitan Detention Center in Brooklyn to an undisclosed location. Sources speculate that SBF might be headed to the Federal Correctional Institution in Mendota, California (FCI Mendota). SBF’s Potential Transfer to FCI Mendota Speculated A Wall Street Journal…
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Federal officials are transfering former FTX CEO Sam Bankman-Fried to a new prison in California. According to a recent report by The Wall Street Journal, Bankman-Fried’s spokesperson confirmed the move but did not provide the specific destination. People familiar with the matter stated that Bankman-Fried would likely be moved to a federal correctional facility in…
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Prosecutors have proposed a prison term of five to seven years for Ryan Salame, a former executive at FTX, ahead of his sentencing scheduled for May 28, 2024. This recommendation contrasts sharply with Salame’s legal team’s plea for a more lenient punishment of no more than 18 months. Clash Over Sentencing: Prosecutors Demand 5-7 Years…
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Reports indicate that Sam Trabucco, the former co-CEO of the cryptocurrency trading firm Alameda Research, penned a letter to the judge set to sentence Ryan Salame, co-CEO of FTX Digital Markets. Trabucco’s letter emerged amidst numerous inquiries about his whereabouts throughout the ongoing turmoil. In his message, Trabucco referred to Salame as his “best friend”…
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The now-defunct crypto lender Blockfi is officially shutting down the firm’s web portal this month according to an update from the firm. Blockfi said that it has partnered with Coinbase to help facilitate the execution of withdrawals to eligible Blockfi customers. Blockfi Collaborates With Coinbase for Withdrawals, Plans to Shut Down Web Portal After the…
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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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Sam Bankman Fried-themed Solana meme coin, SBF token, has exploded in an FTX inspired rally, and now SBF price is giving way to this other viral crypto coin. This article will provide an analysis of SBF’s current price trends and look to see whether an innovative new meme coin, Dogeverse, represents a more promising investment…
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Bankrupt cryptocurrency exchange FTX is preparing to offload more of its locked Solana (SOL) tokens through an auction, diverging from its previous method of selling at a set price, as announced by Mike Cagney of Figure Markets. This decision follows FTX’s recent sales of SOL tokens, amounting to approximately $1.9 billion and $2.6 billion in…
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