Disgraced crypto boss Sam Bankman-Fried had shot a tutorial video on cryptocurrency for MasterClass, a platform that offers courses taught by celebrity experts. The video, made last summer, was not included with other lessons presented by crypto and blockchain experts that MasterClass announced in December last year following FTX’s collapse in November. … Read More: Sam Bankman-Fried Shot Crypto…
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Several major media outlets have filed an appeal aiming to overturn a bankruptcy court’s decision to redact the names of FTX users permanently. In a recent filing with the US Bankruptcy Court for the District of Delaware, The New York Times, Dow Jones & Company, Bloomberg, and the Financial Times argued that there is a “presumptive right” for the public to inspect bankruptcy filings and that…
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A creditor of now-bankrupted crypto exchange FTX pledged a $31,307 claim as collateral for a DeFi loan. A creditor of now-bankrupted crypto exchange FTX pledged a claim as collateral for a loan in the decentralized finance (DeFi) protocol Arcade. The transaction was the first on-chain loan backed by an FTX claim, according to the bankruptcy…
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According to a lawsuit filed this week with the U.S. Bankruptcy Court for the District of Delaware, FTX lawyers are seeking to claw back $700 million from K5 Global Technology, its subsidiaries, and the firm’s founders. The attorneys allege that the defendants received funds without undergoing any due diligence, and FTX did not obtain “equivalent…
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The request was denied by U.S. District Judge Lewis Kaplan, who characterized it as a “fishing expedition” lacking justification. Sam Bankman-Fried, the co-founder of FTX, has been denied his request to obtain documents from a Silicon Valley law firm, Fenwick & West LLP, as part of his defense strategy in his ongoing federal fraud case,…
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Sequoia’s Alfred Lin stood up for the firm’s $213.5 million investment in the now-bankrupt crypto exchange FTX. American venture capitalist Alfred Lin, a partner at Sequoia Capital, stood up for the firm’s multimillion-dollar investment in the now-bankrupt crypto exchange FTX. Speaking at Bloomberg’s Tech Summit, Lin said if he were tasked with evaluating FTX again…
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The U.S. SEC was at the top of BlockFi creditor’s list with a $30 million settlement balance from February 2022. The United States Securities and Exchange Commission (SEC) has agreed to postpone the payment of a $30 million fine from bankrupt crypto lender BlockFi until creditors are paid back. The amount represents the balance of…
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Now-defunct cryptocurrency exchange FTX has sued a former aide for Hilary Clinton and the former aide’s investment firm, K5 Global, to retrieve $700 million in funds. On Thursday, the company filed a complaint in Wilmington, Delaware, bankruptcy court, asking back the $700 million its founder Sam Bankman-Fried transferred to K5 entities in 2022. … Read More: FTX Seeks to Recover $700 Million from…
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The chair of a U.S. House oversight subcommittee said all of the documents the SEC had provided on Sam Bankman-Fried’s charges and arrest had been publicly available at the time. Michigan Representative Bill Huizenga, who chairs the United States House Oversight and Investigations Subcommittee, has called out the Securities and Exchange Commission (SEC) for its…
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The bankrupt crypto exchange FTX is facing escalating legal and advisory costs, recent filings submitted by the exchange’s bankruptcy advisors have revealed. Judging from information in the filings, FTX’s advisors billed the exchange a staggering $121.8 million in fees and expenses for the period between February 1 and April 30. Leading the pack, law firm…
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