Former FTX, Alameda Employees Pour In $17 Million For Crypto Exchange Startup

Categories
Alameda, Backpack, FTX, Sam Bankman-Fried

Former workers of FTX and Alameda Research have secured $17 million to establish Backpack, a cryptocurrency exchange. They are among the businesses attempting to bridge the void created by the demise of their previous employer, Sam Bankman-Fried’s cryptocurrency conglomerate. Backpack is worth $120 million after completing a Series A investment round; the company’s products also […]

Sam Bankman-Fried’s Lawyers Propose Sentencing Limit For $8 Billion FTX Fraud | Bitcoinist.com

Categories
FTT, FTT Token, FTX, FTX lawyers, FTX news, FTX Sam Bankman-Fried, Sam Bankman-Fried, Sam Bankman-Fried fraud, Sam Bankman-Fried FTX, Sam Bankman-Fried news, Sam Bankman-Fried prison

The lawyers of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried (SBF), have proposed to the court how many years their client should spend in prison. As part of the argument, the legal experts explained why SBF should not get the statutory maximum sentence of over 100 years.   According to the court […]

FTX Completes $33 Million Sale Of European Wing Following Legal Dispute

Categories
DAAG, Debt repayment, FTX, FTX creditors, FTX Europe, SBF, Settlement

FTX has recently reached an agreement on the sale of its European branch following a legal dispute between the exchange’s management and the eventual buyers. This development comes as the embattled crypto exchange continues to gather more liquidity in a bid to pay off its million creditors.  FTX Returns European Arm To Former Owners At […]

FTX Creditors Rejoice: Bankrupt Crypto Exchange Is Adding $1 Billion To Its Balance Sheet | Bitcoinist.com

Categories
Crypto, Crypto bankruptcy, crypto exchange, Crypto exchange news, Crypto News, exchange, FTX, FTX bankruptcy, FTX creditors, FTX crypto exchange, FTX exchange, FTX news

A United States Judge has granted the request of FTX, the bankrupt cryptocurrency exchange, to sell off its substantial stake in an Artificial Intelligence (AI) startup company, Anthropic, enabling the exchange to accumulate more funds to repay its customers. FTX To Sell $1 Billion Anthropic Stake On Thursday, February 22, US bankruptcy Judge John Dorsey […]

FTX Exchange Saga: Law Firm Handling Bankruptcy Accused Of Complicity In Fraud

Categories
FTX, FTX bankruptcy, FTX creditors, LegderX, Ryne Miller, SC, Voyager Digital

In an interesting development, FTX creditors have launched a class action lawsuit against Sullivan and Cromwell (S&C), the law firm that is currently responsible for handling the bankruptcy proceedings of the defunct exchange. In a petition submitted on February 16 to the US District Court of the Southern District of Florida, S&C is accused of […]

Next Bitcoin Crash? Insight On Genesis’ $1.5B GBTC Sale

Categories
Bitcoin, Bitcoin Crash, Bitcoin News, bitcoin price, btc, btc price, FTX, Genesis

The crypto community has been abuzz with discussions surrounding Genesis’ intent to sell approximately 36 million shares of Grayscale Bitcoin Trust (GBTC), a move valued around $1.5 billion. This announcement stoked fears of a potential market downturn, reminiscent of the apprehensions following the FTX bankruptcy estate’s sale of over $1 billion worth of GBTC. However, a […]

FTX Faces Lawsuit From Creditors Challenging $16,000 Bitcoin Repayment Plan | Bitcoinist.com

Categories
Bitcoin, Bitcoin News, bitcoin price, btc, btcusd, BTCUSDT, Crypto, Crypto Exchange FTX, Crypto News, cryptocurrencies, Cryptocurrency, DeFi, digital currency, FTX, FTX aftermath, FTX assets, FTX bankruptcy, FTX claims, FTX Collapse news, FTX Crash, FTX creditors, FTX crypto, FTX crypto exchange

A group of creditors of the bankrupt crypto exchange FTX filed an adversary lawsuit in response to the proposed payout plans, seeking to establish that deposits are their property rather than FTX’s.  The proposed plan of the defunct exchange would see creditors repaid based on November 2022 prices of digital assets, which are significantly lower […]

FTX Abandons Hope For Restart, Focuses On Asset Liquidation To Repay Customers | Bitcoinist.com

Categories
Crypto, Crypto News, Cryptocurrency, FTT, FTT news, FTT price, FTTUSDT, FTX, FTX arena, FTX assets, FTX bankruptcy, FTX claims, FTX Collapse, FTX creditors, FTX crypto exchange, FTX customers, FTX news

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, […]

FTX-Linked Billionaire Joe Lewis Pleads Guilty To 19 Fraud Charges In The US | Bitcoinist.com

Categories
Crypto Exchange FTX, FTTUSDT, FTX, FTX aftermath, FTX assets, FTX bankruptcy, FTX CEO, FTX CEO arrest, FTX co-founder, FTX crypto, FTX customers, FTX news, FTX Sam Bankman-Fried, Sam Bankman-Fried, Sam Bankman-Fried charges, Sam Bankman-Fried FTX, Sam Bankman-Fried FTX founder, Sam Bankman-Fried jail, Sam Bankman-Fried news

In a significant development, billionaire Joe Lewis, formerly associated with bankrupt crypto exchange FTX and known for owning a Premier League football club, has pleaded guilty to 19 fraud charges related to insider trading in the United States.  Lewis, who had sold over $76 million worth of property in the Bahamas to Sam Bankman-Fried, the […]

Sam Bankman-Fried: Pro-Bitcoin Presidential Alleges Other Reasons Behind Dropped Charges | Bitcoinist.com

Categories
FTX, FTX founder, FTX Sam Bankman-Fried, Pro-Bitcoin candidate, Robert F. Kennedy Jr., Sam Bankman-Fried, Sam Bankman-Fried charges, Sam Bankman-Fried FTX, Sam Bankman-Fried news, Sam Bankman-Fried trial

Pro-Bitcoin presidential candidate Robert F. Kennedy Jr. has weighed in on what could be the reason behind the US government dropping six charges against FTX founder Sam Bankman-Fried (SBF). The politician suggested that there could be other motivations for this decision besides the reason that the prosecutors gave.   Corruption Could Be Reason Behind Dropped Charges […]

No Encore: FTX Maestro Sam Bankman-Fried Escapes Second Criminal Trial

Categories
Crypto, Crypto News, FTX, FTX crypto, Sam Bankman-Fried, Sam Bankman-Fried convicted

The meteoric rise and catastrophic crash of FTX, once a cryptocurrency empire helmed by the seemingly benevolent “King of Crypto” Sam Bankman-Fried, is a story far too complex to encapsulate in a single headline. While his conviction on charges of defrauding customers marks a significant milestone, the echoes of this financial earthquake will resonate for […]

Bankrupt FTX Stirs Controversy With Repayment Plan: Bitcoin Valued At $16,000 For Customers | Bitcoinist.com

Categories
Crypto, Crypto Exchange FTX, Crypto News, cryptocurrencies, Cryptocurrency, FTT, FTT news, FTT price, FTTUDST, FTX, FTX aftermath, FTX assets, FTX bankruptcy, FTX claims, FTX Collapse, FTX Collapse news, FTX creditors, FTX crypto, FTX customers

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 […]