Tag Archives: FTX Exchange

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...

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

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...

American banking watchdogs warned domestic financial institutions that delving into the world of crypto could carry various risks, such as fraud. The warning comes as a result of a catalytic 2022, which saw the demise of multiple cryptocurrency giants, including FTX, Terraform Labs, Three Arrows Capital, Celsius Network, and more. The collapse of those firms triggered multi-billion investor losses and infused panic in the industry, resulting in a massive market decline....

The Securities Commission of The Bahamas (SCB) has refuted the claims made by FTX debtors that it had instructed the crypto exchange to mint tokens worth hundreds of millions. In an official statement released on Jan. 3, the regulator sought to correct the material misstatements of FTX’s new CEO, John J. Ray III, in a series of court filings that received global media coverage. SCB Allegedly Asked SBF to Mint New Tokens Last month, FTX lawyers made several public statements...

Three Arrows Capital (3AC), a Singapore-based crypto hedge fund, became one of the many industry participants that went bankrupt in the bear market. At its peak, 3AC managed more than $10 billion worth of assets. Its undoing was disastrous but wasn’t purely a market-driven phenomenon. In the latest Twitter thread, Zhu Su said the parent firm of Grayscale Investments and Genesis Trading conspired with FTX to bring down Terra’s LUNA token and Staked Ether (stETH). Zhu Su Blasts...

The 2022 crypto winter got colder and darker in November when one of the biggest and most prominent crypto exchanges, FTX, imploded. The company, which had bailed out several crypto firms during the Terra-induced crash in May 2022, ended up filing for bankruptcy. While FTX’s founder, Sam Bankman-Fried (SBF), and other executives are currently facing multiple lawsuits for fraud, fresh reports have surfaced alleging that the FTX-linked crypto trading firm, Alameda Research, was...

The crypto market behaving erratically is nothing new, but absolutely no one saw such epic levels of fund mismanagement coming from established giants. The young industry’s turn to a more sordid state of affairs hit everyone by surprise, especially after the heady rush of the bull run last year. 2022 was marred by corruption and fraudulent activity. An industry that claims to have traceable and public transactions saw big bucks being funneled maliciously with much audacity...