The presentation reported $25 million in donations — political and otherwise — from three of the FTX silos, but added “limited information” was available on crypto donations. The debtors in FTX’s bankruptcy case have reported that the various company silos had more than $4 billion in scheduled assets as of November 2022, but said they…
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A number of high-profile crypto and finance YouTubers are involved in a class-action lawsuit for promoting the now-defunct cryptocurrency exchange FTX. The lawsuit’s plaintiff is Edwin Garrison, who is seeking $1 billion in damages because the YouTubers “promoted FTX crypto fraud without disclosing compensation.” The suit was filed on March 15 in the Southern District of Florida,…
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On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal crypto activity” from the United States. Specifically, Emmer asked Gruenberg if…
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The suit is led by Edwin Garrison and was filed against “FTX influencers,” primarily on the YouTube platform. A class-action suit led by Edwin Garrison has been filed against “FTX influencers,” mostly on YouTuber, seeking $1 billion because they “promoted FTX crypto fraud without disclosing compensation.” The suit was filed March 15 in the Southern…
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Billions worth of loans and payments flowed from FTX entities to Sam Bankman-Fried and five other former executives of FTX and Alameda Research. FTX and Alameda Research’s former top brass received $3.2 billion in payments and loans from FTX-linked entities, according to the FTX administrators handling the firm’s restructuring. FTX, now helmed by CEO John…
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JOMO is that “I-was-right-about-the-market” joyful feeling after narrowly escaping a bad trade and potentially catastrophic losses. JOMO stands for the joy of missing out — particularly when a cryptocurrency trader refuses to follow the crowd. It’s the opposite of FOMO or fear of missing out, and it’s the counterbalance to price rallies driven by hype and frenzy. What…
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Three wallets, reportedly associated with FTX and its subsidiary, Alameda Research, have moved 69.64 million USDT and 75.94 million USDC. Amid multiple ongoing investigations, FTX continues to move funds. Addresses related to the failed crypto exchange reportedly transferred around $145 million in stablecoins to various platforms. As Lookonchain spotted on March 14, three wallets associated…
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U.S. district judge, Lewis Kaplan, expressed concern that Bankman-Fried could find ways to evade the restrictions and covertly communicate with others electronically. On Mar 10, Reuters reported that the U.S. District Judge Lewis Kaplan has expressed concerns over the proposed bail conditions for former FTX cryptocurrency exchange founder Sam Bankman-Fried. Judge still thinks proposed Bankman-Fried…
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According to Mike Belshe, the U.S. SEC’s reluctance to address a “basic” regulatory issue like the issuance of a BTC ETF could have paved the way for FTX’s alleged illicit activities. The collapse of crypto exchange FTX and other bearish events in the space were at the center of discussions among lawmakers and witnesses at…
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A January survey from Paxos found that 89% of respondents still trusted “intermediaries” to hold their crypto, despite the collapses and bankruptcies last year. American crypto users haven’t lost their trust in “intermediaries” to hold their crypto, with a January survey from Paxos suggesting a majority of United States crypto hodlers still trust banks, exchanges…
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