Founder of bankrupt crypto exchange FTX, Sam Bankman-Fried (SBF), has sought to avoid being jailed, denying prosecutors’ accusations of witness tampering that followed an interview he gave for the New York Times. The indicted crypto mogul also argued that revoking his bond would violate his right to free speech. Bankman-Fried Says He Never Tried to…
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The study also questioned whether FTX or Alameda had any role in coordinating Twitter bot activity for its own gain. Crypto-spouting Twitter bots could be playing a much larger role in artificially inflating the price of altcoins than previously understood, a new study has suggested. Using a sample of various FTX-listed cryptocurrencies in a study published Aug.…
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The US Department of Justice (DoJ) is mulling whether to press fraud charges against Binance, as per a Semafor report. However, as per the report, the DoJ is worried that if it indicts Binance, it could trigger a rush to withdraw balances on the exchange, similar to the rush that brought down FTX last November.…
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The bankrupt crypto exchange FTX’s new management has proposed to reboot the exchange for offshore customers only, but holders of the FTT token would not benefit from the plan. In a recent filing, FTX’s management proposed to group the various creditors into different classes as a way for them to receive the claims they are…
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On July 31st, under its new CEO, John J. Ray III, the bankrupt cryptocurrency exchange FTX Trading Ltd. submitted a draft plan to “reboot” the collapsed crypto exchange. The proposal was unveiled on Monday, presenting FTX.com claimants with the option to hold equity securities, tokens, or other interests in a newly established offshore company. … Read…
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In the midst of the bankruptcy proceedings, FTX presented its primary reorganization strategy and term sheet to the U.S. bankruptcy court, detailing an ambitious plan to reinvent FTX as an “offshore crypto exchange” while also founding a new limited liability trust. At this time, the proposed FTX reorganization plan is targeting a comprehensive settlement between…
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The filing revealed that on Jan. 15, 2023, SBF contacted the current general counsel of FTX US, who could potentially serve as a witness in the trial. According to a July 28 court filing, the United States Department of Justice (DOJ) is seeking the revocation of Sam Bankman-Fried’s (SBF) bail, accusing him of attempting to…
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The Department of Justice (DOJ) has requested a US Judge to revoke FTX founder Sam Bankman-Fried’s bond and jail him before his scheduled trial in October. In a written submission to a federal judge Friday, the DOJ alleged that Bankman-Fried has engaged in repeated attempts to influence witness testimony, and that his current bail conditions are inadequate to protect the public. … Read…
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The long-standing legal feud between FTX Trading and Genesis Global Holdco is taking a turn towards resolution. The two parties have reached an initial agreement, in principle, following bankruptcy protection disputes that have made industry headlines. An official letter to the bankruptcy judge representing their cases has affirmed the intent of the firms to put…
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Lawyers claimed there was a “need to avoid” the public dissemination of documents Sam Bankman-Fried had shown a New York Times reporter which led to a story on Caroline Ellison. Lawyers representing former FTX CEO Sam Bankman-Fried, also known as ‘SBF’, have requested the court seal documents related to his interviews with a New York…
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