Tag Archives: ftx

As per the proposed conditions, FTX founder Sam Bankman-Fried will get a new phone with no internet capability limited to voice calls and text messages. On Monday, March 27, lawyers of FTX’s disgraced founder Sam Bankman-Fried said that they have reached an agreement with US prosecutors over the new bail conditions. This development comes as the judge raised the prospect of sending SBF to jail pending trial. The newly proposed conditions have been submitted for approval to District Judge...

It looks like the crypto contributions made to politicians by Sam Bankman-Fried – the former founder and chief executive of digital currency exchange FTX – are coming back to haunt him. Four new criminal charges have been filed against him, some of which stem from the political contributions he made to democrat candidates in the past. Bankman-Fried NEVER Should Have Gotten Involved in Politics It is alleged that Sam Bankman-Fried tried to buy his way into Congress and...

As part of the agreement, debtors will sell roughly $95 million worth of preferred stock back to Mysten Labs in addition to $1 million in SUI tokens. On Thursday, March 23, debtors of the collapsed crypto exchange FTX filed a motion in the bankruptcy court seeking a $95 million stake in the Delaware-based Web3 firm Mysten Labs. Crypto exchange FTX has been surviving to pay its customers impacted by the collapse of the exchange last year in November 2022. Before it fall, FTX had paid $101...

The news has already stirred the crypto ecosystem with many of the affected holders of LUNA yet to recover their losses. Do Kwon, the co-founder of Terraform Labs has been reportedly arrested in Montenegro, months after he vanished after the implosion of Terra (LUNA) and its algorithmic stablecoin UST. The arrest of Do Kwon was shared through a Tweet from Filip Adzic, the country’s minister of interior. At a time over the past year, Do Kwon was declared one of the most wanted men in the...

Canada is cracking down on crypto trading and tightening its rules due to the FTX financial collapse. The country is allegedly trying to do all it can to protect investors and ensure nothing like the exchange’s debacle can affect people within its borders. Canada Is Fighting Potential Crypto Loopholes The Ontario Securities Commission and securities regulators in Canada are keeping their eyes open and watching any unregulated digital currency exchanges within the...

Modulo’s $460 million marks a significant recovery in the ongoing bankruptcy case. Bankrupt crypto exchange FTX is currently working toward recovering some of the customer funds that were reportedly misappropriated. To this end, it filed a motion on Wednesday that would see it recover $460 million in assets for stakeholders. Per the filing, the fund is being recovered from Bahamas-based hedge fund Modulo Capital, which received no less than $475 million from Alameda Research – the...

No doubt the FTX debacle and the arrest of its founder and chief executive Sam Bankman-Fried will go down as some of the biggest problems to ever strike the crypto space, but according to a new report, it appears the damage caused by FTX and its irresponsible (and selfish) employees may have been even greater than what analysts initially thought. The Trouble Surrounding FTX Might Have Done More Damage The document in question suggests that as much as $200 billion was...

Speaking to the parliament, Chairman Huang pointed out that the Financial Supervisory Commission was working on a crypto regulatory framework. The Financial Supervisory Commission of Taiwan (FSC) has announced that it will now be the primary regulatory body for cryptocurrencies in Taiwan. Some lawmakers had called for the Ministry of Digital Affairs (MODA) as the chief crypto regulator. However, FSC made it known in a statement by its chairman, Huang Tien-mu while addressing the Taiwan...

FTX may yet have a chance to establish itself as a force to reckon with in the crypto space. Plans to launch FTX 2.0 may gradually be shaping up after Wall Street investment firm, Jefferies, confirms that it is in talks with a potential buyer for the failed FTX exchange. If all goes according to plan, the exchange is expected to resume operations after being shut down by regulators. Bankrupt FTX Exchange to Relaunch as FTX 2.0 According to sources familiar with the situation, Jefferies has...

Firms are actively searching for new banking partners as the regulatory climate in the US has now turned sour. Top American crypto exchange Coinbase is presently weighing its options regarding the creation of a new crypto trading platform. According to a Bloomberg report, the platform will be located outside the United States, and Coinbase has already begun talking about the move with institutional clients. Per the report, the exchange is also yet to decide on the particular location to...