Nasdaq intends to launch its custody services for digital assets like bitcoin by the end of this year’s second quarter. The exchange operator is among those traditional financial firms that want to play a role as intermediaries in the crypto sector which saw the collapse of some major players. Stock Exchange Nasdaq Seeks Regulatory Approval…
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Former U.S. National Football League (NFL) quarterback Tom Brady’s estranged wife Gisele Bundchen has said she was “blindsided” by the collapse of crypto exchange FTX. Bundchen claimed that she only invested in FTX because her financial advisors recommended it. Bundchen and Brady’s Shareholding in FTX Gisele Bundchen, a fashion model and the estranged wife of…
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The beleaguered crypto exchange FTX will reportedly sell its stake in Web3-focused startup Mysten Labs in an effort to pay back its customers. The new management at FTX is continuing its mission to collect money to return to the victims of the old management’s practices. The bankrupt company said it would sell the stake in…
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The proposed purchase price of the Mysten Labs shares was roughly 95% of the amount FTX Ventures invested as part of a $300-million funding round in September 2022. The debtors for defunct crypto exchange FTX have approved an agreement that would sell its preferred stock in Mysten Labs, the company behind the Sui blockchain. In…
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In a court filing, lawyers in a class-action lawsuit alleged that Ben Armstrong “began harassing” them after he was named a defendant. Lawyers representing a class action lawsuit against “BitBoy Crypto” YouTuber Ben Armstrong and other crypto influencers alleged to have promoted crypto exchange FTX have claimed Armstrong has made multiple threats against them. A…
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Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur. Virtual Asset Industry’s Self-Regulation According to Taiwanese government…
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Defunct crypto exchange FTX has asked a US bankruptcy judge to protect its property from the liquidators in charge of winding down its Bahamas unit. In a lawsuit filed against the liquidators overseeing the wind-down of its Bahamian affiliate FTX Digital Markets, FTX claimed that they are wrongly claiming ownership of the exchange’s assets, Bloomberg reported,…
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The invitation was mediated by former CFTC Commissioner Mark Wetjen, who joined FTX US as the head of policy and regulatory strategy in November 2021. Before crypto exchange FTX and its founder Sam Bankman-Fried (SBF) got tied down with allegations of misappropriation of users’ funds, SBF was among the most influential crypto entrepreneurs. Before FTX…
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According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX’s $6.8…
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The move comes after a judge expressed displeasure about SBF’s use of encrypted-messaging apps and virtual private network services while on bail. The lawyer representing crypto entrepreneur Sam Bankman-Fried (SBF) in the ongoing FTX case will soon present a revised bail package to Judge Lewis Kaplan of the Southern District of New York. The move…
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