Brad Garlinghouse, the CEO of Ripple, has criticized the crypto “pro-innovation” stance of the U.S. Securities and Exchange Commission (SEC) and its recent lawsuits against significant exchanges like Coinbase and Binance. Garlinghouse stated that the SEC was “throwing lawsuits at the wall” to distract attention from the debacle of bankrupted exchange FTX. Ripple CEO Brad…
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Releasing the nine million-strong list of customers would “impair” the ability to maximize value for FTX creditors, a banker for the exchange said. The list of around nine million FTX customers is “extraordinarily valuable” and could harm the crypto exchange’s sale value if released, a member of the FTX restructuring team has argued. In a…
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The regulatory crackdown on crypto in the US has certainly intensified with the Securities and Exchange Commission’s (SEC) lawsuit against Binance and Coinbase, but our timeline shows that the crisis has already been ongoing for a long time. These are the major incidents that shaped crypto in 2022 and so far in 2023:… Read More:…
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Over 3.6 million documents have yet to be produced by prosecutors in the criminal trial of Sam Bankman-Fried, according to his lawyers. Former FTX CEO Sam Bankman-Fried claims prosecutors have missed discovery deadlines for key pieces of evidence required in the defense of a raft of fraud charges. On June 5, Bankman-Fried’s lawyers told United…
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FTX will not be allowed to join in the mediation between now-bankrupt crypto lender Genesis Global and its parent company, Barry Silbert’s crypto conglomerate Digital Currency Group (DCG), a judge has ruled. In the ruling, US Bankruptcy Judge Sean Lane decided against FTX’s inclusion in the settlement talks, where Genesis and its major creditors, along…
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The New York-based Metropolitan Museum of Art will return more than half a million dollars in donations it received from the now-defunct crypto exchange FTX. The popular US museum, known as the Met, is set to refund $550,000 to FTX debtors, according to a filing to the United States Bankruptcy Court in Delaware. The filing…
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The FTX debtors alleged that the claim was filed “without any advance notice,” and they were not invited to participate in the mediation. Just a month after bankrupt cryptocurrency exchange FTX sought $4 billion from the also bankrupt crypto lender Genesis, it is now contesting a claim that it is entitled to nothing. According to…
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FTX and its affiliates have objected to extending court-mediated settlement talks for bankrupt crypto lender Genesis. In a recent court filing, FTX said it had not been invited to a court-appointed mediation in May that involved Genesis, its parent company Digital Currency Group, and creditor Gemini Trust Co, despite being a major Genesis creditor…. Read More:…
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This week’s Crypto Biz also looks at the crypto industry after FTX collapse, Tether’s Bitcoin mining in Latin America, Tabi’s funding round and Nvidia’s artificial intelligence machines. Just over six months after FTX’s dramatic collapse, the crypto industry can finally begin analyzing the effects of the debacle. The quick ripple effect to other crypto businesses…
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The prosecution and FTX debtors already have access to the documents, which concern 11 topics and may contain material favorable to SBF. Sam Bankman-Fried (SBF) is seeking to subpoena documents from Fenwick & West. That’s the law firm that served as the outside counsel to FTX, Alameda Research and SBF personally from “early in their…
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