In a recent court hearing in Delaware, the failed crypto exchange FTX announced its decision to abandon efforts to restart its crypto exchange and instead liquidate all assets to refund its customers, according to an attorney representing the company. Per a Reuters report, FTX had negotiated with potential bidders and investors for several months. Still, […]
In a recent filing on December 27, bankrupt cryptocurrency exchange FTX unveiled its repayment plan, triggering customer outrage and discontent. The plan, which values customers’ digital assets at the time of FTX’s collapse, offers a value significantly lower than prevailing market prices. FTX Under Fire The filing by FTX stated that the repayment plan aims […]
FTX Founder Sam Bankman-Fried Admits Limited Cryptocurrency Knowledge During Fraud Trial | Bitcoinist.com
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During the ongoing trial of Sam Bankman-Fried, co-founder of the now-defunct FTX crypto exchange, startling revelations have emerged regarding his understanding of cryptocurrency. FTX Co-Founder’s Shocking Testimony According to live coverage of the trial by The Guardian, Bankman-Fried confessed to knowing “basically nothing” about cryptocurrency before launching FTX and its affiliated hedge fund, Alameda Research. […]
Alameda Research’s $190 Million Loss Linked To Inadequate Security, Insider Reports | Bitcoinist.com
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Alameda employee, Alameda news, Alameda Research, FTTUSDT, FTX, FTX aftermath, FTX bankruptcy, FTX CEO, FTX co-founder, FTX Collapse, FTX Collapse news, FTX crypto exchange, FTX Sam Bankman-Fried, Sam Bankman-Fried FTX founder, Sam Bankman-Fried news, Sam Bankman-Fried prosecution, Sam Bankman-Fried trial
Amidst the ongoing legal proceedings, a fresh wave of testimonies has emerged against Sam Bankman-Fried (SBF) and his operations. In this particular instance, outside the courtroom, a former engineer at Alameda Research, the sister hedge fund of FTX, has come forward with revelations of substantial losses in trading funds totaling at least $190 million. Aditya […]
In the wake of FTX’s collapse, the crypto industry was plunged. Prices plummeted, investors scrambled to cut their losses, and startup funding evaporated. Amid the chaos, the spotlight turned to Changpeng Zhao, the founder of Binance, as the last remaining tycoon in the crypto world after the swift fall of Sam Bankman-Fried. With a grand […]
The trial of the former CEO of defunct crypto exchange FTX Sam Bankman-Fried (SBF) has taken full shape with just less than a week before it commences. In preparation, the court has released the trial calendar, which shows how long the case is expected to last. A Close Look At The Calendar According to the […]