Tag Archives: FTX Exchange

The NFL legend Tom Brady and his ex-wife Gisele Bundchen collectively own nearly 1.8 million FTX shares. Their investment will most likely be entirely wiped out due to the exchange’s demise in November. Other prominent people and companies who invested in the former crypto giant include the likes of Kevin O’Leary, Robert Kraft, Thoma Bravo, and Sequoia Capital. Who Has FTX Shares? One of crypto’s most catastrophic events – the crash of FTX – caused multi-billion financial...

In a hearing from today, a bankruptcy attorney said that FTX has managed to locate over $5 billion of assets. Per a CoinDesk report, the attorney said that they’ve managed to locate over $5 billion of cash and liquid assets. We have located over $5 billion of cash, liquid cryptocurrency, and liquid investment securities measured at petition date value. This number doesn’t include the $450 million in cryptocurrencies that are currently held by the Securities Commission of the...

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BlockFi said it plans to disclose assets and liabilities, as well as statements of certain payments made by the platform to insiders and other parties prior to its bankruptcy filing in November. In the latest update, the embattled crypto lending announced it would file both its Schedules of Assets and Liabilities and its Statement of Financial Affairs with the Court on January 11, 2023. “BlockFi looks forward to continuing its open dialogue with the UCC, U.S. Trustee, and all...

Cryptocurrency projects obtained 42.5% less funding in 2022 compared to what they received in 2021.  Still, last year’s capital was significantly higher than the figures in 2018, 2019, and 2020. Funding in 2022  The crypto winter that hit the digital asset industry in 2022 has triggered a major market decline, an outflow of investor interest, and halted the expansion plans of some companies. According to a CoinGecko study, such firms had raised $21.26 billion last year, and...

Sam Bankman-Fried (SBF) and his former right-hand, Gary Wang, are unable to retain ownership of almost half a billion dollars worth of Robinhood shares, according to a court document dated January 6th.The US Department of Justice (DOJ) has seized the executives’ holdings in response to charges of wide-ranging fraud against Bankman-Fried and FTX, with which the equity investments may be involved.  No More Robinhood Shares The document, filed in a New Jersey bankruptcy court,...

Michigan Senator Debbie Stabenow announced she will abandon her post in January 2025. The politician was one of the creators of cryptocurrency legislation that could empower the CFTC with exclusive jurisdiction when overseeing the market. Interestingly, the former CEO of FTX – Sam Bankman-Fried – was a vocal supporter of the bill, which received the nickname: “the SBF crypto bill.” Passing the Torch Senator Stabenow – the first woman from Michigan elected to the United States...

The US Securities and Exchange Commission has reportedly asked some FTX investors whether they conducted proper research on the cryptocurrency exchange before becoming its clients. Recall that the platform (considered among the giants in its field) crashed in November, causing multi-billion losses and shaking the entire market to its core. As reported by Reuters, the American financial regulator sought information from several firms regarding their due diligence policies...

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Daniel Friedberg – the former leading lawyer of crypto exchange FTX – has reportedly given vital information to American prosecutors that could help the authorities during the lawsuit against Sam Bankman-Fried. The attorney is expected to appear in SBF’s trial in October to shed more light on the actions of the 30-year-old while being in charge of the bankrupt platform. According to a recent Reuters report, Friedberg met with over 20 US investigators (officials part of the...