Crypto hedge fund LedgerPrime, once linked to the bankrupt FTX crypto exchange, has relaunched under the name MNNC Group according to a February 29 Bloomberg report. As reported by Bloomberg, the rebooted crypto hedge fund has raised an investment amount in the “mid-eight-figures.” A New Start for Former FTX-Affiliated Employees LedgerPrime was forced to cease…
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In a recent legal submission, Sam Bankman-Fried’s freshly appointed defense team strongly criticized the suggested century-long sentence as “grotesque.” The firm Mukasey Young is pushing for a gentler verdict for the 31-year-old creator of FTX. Bankman-Fried’s Defense Urges Judge to Cap Sentence at 78 Months The defense’s legal brief argues that the suggested sentence is…
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Family members of former FTX chief Sam Bankman-Fried have written individual letters to the federal judge who will determine his sentence, according to a February 27 filing in the United States District Court for the Southern District of New York. Barbara Fried, Joseph Bankman, and Gabriel Bankman-Fried — SBF’s mother, father, and brother — submitted…
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Disgraced former FTX CEO Sam Bankman-Fried (SBF) on Wednesday confirmed plans to stick with his new lawyers Marc Mukasey and Torrey Young, who are also representing Celsius CEO Alex Mashinsky, according to a report by Reuters. In a hearing, U.S. Southern District Judge Lewis Kaplan asked Bankman-Fried about the potential conflict of interest. The former…
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The first prison photo of former FTX CEO Sam Bankman-Fried in prison was released on Tuesday by crypto influencer Tiffany Fong on February 19. The photo depicts a somewhat disheveled Bankman-Fried in what Fong believes may be the first image of the now disgraced crypto mastermind following his arrest in August 2023. The Last Photo of…
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This week, a prison snapshot featuring Sam Bankman-Fried (SBF), the ex-FTX chief, was released by the independent journalist Tiffany Fong. Capturing the first glimpse of SBF since his detention, the image places the once-prominent cryptocurrency magnate alongside five other detainees within the confines of the Metropolitan Detention Center (MDC) in Brooklyn. First Look: SBF Behind…
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Prominent crypto hedge fund Tyr Capital Partners faces allegations of “criminal” mismanagement and was raided by a Swiss prosecutor over losses incurred in relation to FTX. The Geneva-based firm disregarded an internal risk threshold and investor alerts regarding its substantial exposure to the now-defunct exchange, the Financial Times reported Tuesday, citing legal documents an investor filed in…
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Worldcoin, the digital identity token ERC-20 project on the Ethereum (ETH) blockchain, has garnered significant attention. Its native token, WLD, emerges as the top performer among the top 100 cryptocurrencies by market capitalization. The token has experienced a remarkable 31% uptrend in just 24 hours and a staggering 217% surge over the past fourteen days.…
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Bahamian bank Deltec is facing a new lawsuit claiming it provided a ‘secret’ line of credit to FTX fraudster Sam Bankman-Fried that allowed him to buy Tether, a February 17 Bloomberg report reveals. Communications Reveal FTX’s Ties to Tether in New Lawsuit Originally filed in Florida federal court on Friday, documents verified by Bloomberg allege…
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FTX creditors have filed a class-action lawsuit against the law firm overseeing the exchange’s bankruptcy, Sullivan & Cromwell (S&C). The creditors allege that S&C actively participated in FTX Group’s multibillion-dollar fraud and benefited financially from it. According to court filings on February 16, FTX creditors claim that S&C had knowledge of FTX US and FTX…
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