A court document penned by U.S. Department of Justice attorney Damian Williams alleges FTX co-founder Sam Bankman-Fried released diary excerpts from former Alameda CEO Caroline Ellison. The U.S. attorney asserts that Bankman-Fried intended to discredit the government’s key witness by disseminating the diary content. FTX Co-Founder Allegedly Leaked Caroline Ellison’s Diary Excerpts The U.S. Department…
Read more
Australia’s securities regulator has canceled the license of the local FTX entity, allowing it to perform only limited financial services. These will be related to the termination of derivatives with clients and arrangements to compensate retail customers. ASIC Revokes Financial Services License of Crypto Exchange FTX Subsidiary The Australian Securities and Investments Commission (ASIC) announced…
Read more
Former FTX and Alameda Research executives Sam Bankman-Fried, Caroline Ellison, Gary Wang and Nishad Singh were named in the suit from FTX. FTX has sued former CEO Sam Bankman-Fried and other former key executives from the now-bankrupt crypto exchange to recover more than $1 billion in allegedly misappropriated funds. A July 20 complaint filed in a…
Read more
The money was intended to add to Bankman-Fried’s political influence and goodwill and did not benefit FTX or Alameda Research. FTX’s efforts to claw back customer funds are continuing. Alameda Research and FTX filed suit on July 19 seeking the return of $71.6 million in allegedly commingled corporate and customer funds related to investments and…
Read more
According to the New York Times and several sources familiar with the matter, Caroline Ellison, former CEO of Alameda Research, maintained a diary on Google Documents that provides a brief glimpse into the challenges she faced before the collapse of FTX. Excerpts from the diary suggest Ellison lacked confidence in her role. After her breakup…
Read more
ASIC had previously suspended FTX’s license to operate in Australia; now the securities regulator has canceled it entirely. The Australian financial services regulator has finally canceled the financial license of FTX Australia, the bankrupt crypto exchange’s local subsidiary. On July 19, the Australian Securities and Investments Commission announced the cancellation, which took effect July 14.…
Read more
According to a recently unsealed report made in Friday’s court filing, BlockFi Inc. executives ignored repeated warnings from their risk management team regarding significant loans to Sam Bankman-Fried’s Alameda Research, collateralized with digital tokens from FTX…. Read More: Report: BlockFi’s Risky Investment in FTX and Alameda Despite Knowledge of Infamous Balance Sheet Read more »Sign…
Read more
On Monday, the Financial Stability Board (FSB), a product of the G20 organization, unveiled its proposed guidelines for a global regulatory structure overseeing the operations of crypto assets. The international entity emphasizes that nations should confront the risks cryptocurrencies pose to global financial stability. The FSB contends that occurrences within the preceding year have underscored…
Read more
In a legal document lodged on July 13, 2023, Sam Bankman-Fried, the former chief executive officer and founder of FTX, expressed his desire for his “close friends” to drop by his parents’ residence “without the need for a security guard to be present.” The plea from Bankman-Fried petitioned the court to maintain confidentiality regarding the…
Read more
Crypto lending firm BlockFi had roughly $1.2 billion in assets tied to FTX and Alameda Research when the firm filed for bankruptcy in November 2022. Zac Prince, the CEO of bankrupt cryptocurrency lending firm BlockFi, allegedly disregarded recommendations from the company’s risk management team over lending assets to Alameda Research. According to a July 14…
Read more
