The US Government’s push for an independent inquiry of the now-bankrupt crypto exchange FTX was on Tuesday referred to the U.S. Third Circuit Court of Appeals. The ruling, made by Delaware District Judge Colm F. Connolly, argued that the question of whether the case should be referred to the appeals court was not up to…
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Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, is preparing to argue that he relied on the advice of Silicon Valley law firm Fenwick & West in his defense against fraud charges. On Tuesday, his lawyers requested that prosecutors turn over documents that were provided to the government by the California-based firm between 2017…
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The charges relating to Sam Bankman-Fried’s alleged bank fraud, operating an unlicensed money transmitter service and bribing Chinese officials may be dropped. United States prosecutors will drop some of the charges against former FTX CEO Sam-Bankman Fried if The Bahamas government objects to them, according to a document filed on May 29 in the U.S.…
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A bankruptcy judge denied a motion for an independent examiner in February, leading to an appeal that may now go to the U.S. Court of Appeals for the Third Circuit. A United State district judge has referred a motion requesting the appointment of an independent examiner for bankrupt crypto exchange FTX to appellate court. In…
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A recent survey conducted by Axios and Harris Poll, which polled 16,310 Americans, has revealed some interesting findings about the reputation of two select entities in the crypto industry. FTX, a crypto exchange that has since gone out of business, has been ranked at the very bottom of the list, coming in at 99 out…
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Singaporean investment firm Temasek Holdings has lowered the compensation of senior management and the investment team responsible for investing in FTX. An internal review found no misconduct by the investment team but Temasek’s management still took “collective accountability” and reduced their compensation, according to a Monday statement from the company. … Read More: Temasek Adjusts Employee Compensation Following…
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Although the implementation of the recently approved Markets in Crypto Assets (MiCA) regulations is likely to be difficult, their coming into force is going to have a positive outcome for everyone in the industry, Przemyslaw Kral, the CEO of the crypto exchange Zondacrypto, has said. Kral also argued that the implementation of these regulations will…
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NBA legend Shaquille O’Neal has been served legal papers related to the FTX bankruptcy and his NFT project after eluding process servers for months. On Tuesday, the basketball icon was served during an NBA playoff game at the Miami sports stadium formerly known as FTX Arena, according to a report by The Wall Street Journal. … Read…
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Recently submitted court records in the FTX insolvency case reveal that the exchange’s new CEO, John Ray III, has been exploring a revival plan for the now-disabled trading platform and the “preliminary formation of restructuring strategies.” FTX’s Revival Prospects Surface as New CEO Explores Reboot Plans and Bidder List The current CEO and main restructuring…
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In the midst of the financial dispute between crypto exchange Gemini and Digital Currency Group (DCG), Gemini has alleged that DCG failed to make a payment of around $630 million that was due last week. In response, Gemini has stated that it may extend “forbearance” to DCG in order to prevent a default. DCG’s Alleged…
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