Tag Archives: FTX Exchange

In a bid to recover as many assets as possible and potentially even reboot FTX, the bankrupt exchanges’ new leadership has been filing clawback requests from previous business partners and donation recipients. Clawback requests have also been filed against former executives, including SBF himself, although the amounts subject to possible returns from executives pale in comparison to the amounts requested from other platforms, such as Genesis. Spurious Investments Yesterday,...

Alibaba Group – a Chinese technology company specializing in e-commerce – announced that Joseph Tsai will replace Daniel Zhang as the entity’s new Chairman.  The Taiwanese-Canadian billionaire businessman is known as an advocate of the cryptocurrency industry, and his name has been involved with several digital asset projects. Recent sources revealed that Blue Pool Capital – an organization that manages the personal wealth of Tsai – participated in two of the funding rounds...

In a respite to Voyager Digital customers, the cryptocurrency brokerage is reportedly gearing up to reopen its app, which will enable the withdrawal of their funds. The development comes almost a year after it filed for Chapter 11 bankruptcy. According to a court filing on June 14th, Voyager’s bankruptcy plan administrator, Paul Hage, stated that around June 15, the Voyager app would be updated to enable the viewing of the forms and amounts of their initial distribution. The...

In a temporary respite for Sam Bankman-Fried, the disgraced founder of now-bankrupt cryptocurrency exchange FTX was able to block the addition of new charges in his United States indictment. The ruling comes as the former exec sought an opportunity to make arguments in the country to drop a few existing charges against him. The court order is expected to delay the case in the US. According to a filing this week, the Bahamas Supreme Court Judge Loren Klein granted leave to...

A judge ruled that FTX cannot join confidential mediation sessions between bankrupt crypto lender Genesis Global Holdco and its parent company Digital Currency Group (DCG). The ruling days after Genesis denied owing FTX anything. According to the Bloomberg report, US Bankruptcy Judge Sean Lane refused to open the settlement talks to the SBF-founded beleaguered crypto exchange, which claims that Genesis owes it $3.9 billion. In a ruling on June 5th, Lane stated, “There will be...

The Metropolitan Museum of Art (the Met) has agreed to return the $550,000 donations it received from bankrupt crypto exchange FTX last year. The donations were made by West Realm Shires Services, an affiliated entity of FTX responsible for overseeing the operations of FTX.US, the American division of the company. The firm donated around $300,000 to the museum in March 2022 and another $250,000 in May before FTX encountered a liquidity crisis in November, leading to its...

In the dynamic world of cryptocurrencies, where innovation and volatility often go hand in hand, certain events have the power to send shockwaves through the entire industry. From groundbreaking partnerships to catastrophic crashes, the crypto realm has witnessed its fair share of astonishing moments that have left investors, enthusiasts, and skeptics alike in awe. In this article, we’ll take a walk through memory lane, reviewing eight extraordinary events that have not only...

Bankrupt cryptocurrency entities FTX, FTX.US, and Alameda Research have filed a lawsuit against former executives Sam Bankman-Fried (SBF), Nishad Singh, and Gary Wang for lavishly spending FTX Group’s assets on the acquisition of stock clearing firm Embed Financial Technologies. The move is the first formal action from FTX CEO John Ray against the company’s former management. The lawsuit, filed in the United States Bankruptcy Court for the District of Delaware, seeks to claw...

The crypto analytics platform – Santiment – indicated that the amount of bitcoin held on digital asset exchanges has recently plummeted below 6%. The last time the figures were that low was in December 2017. The decreased trust in centralized platforms intensified shortly after the fallout of FTX (one of the leaders in its field prior to its bankruptcy). Binance has also seen a rise in bitcoin outflows during the past several months, signaling that many users prefer to rely...

The lawyers of the American basketball legend – Shaquille O’Neal – reportedly asked a federal court to block a recent summons served regarding his interaction with FTX. They claimed the documents were “tossed” at the front of his moving car: an entirely different version than the one presented by attorney Adam M. Moskowitz who supposedly served the sportsman in his home. Failed investors have claimed that O’Neal and many other celebrities used their popularity to promote the...