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Tag Archives: SBF

FTX Debtors Agree to $95M Stake Sale in Mysten Labs to Shore Up Funds

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...

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FTX Moves to Recoup $460 Million from Modulo Capital

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...

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Social Media and YouTube Influencers Accused of Promoting FTX without Proper Disclosure

Defendant Ben Armstrong denied the allegations and stated that he had never been in contact with anyone at FTX. A group of social media influencers has been named in a new lawsuit alleging they promoted collapsed crypto exchange FTX to their millions of followers without proper disclosure. According to the suit, filed on Wednesday, the influencers failed to disclose the nature of any, rewards, payments, or compensation realized from promoting the crypto exchange. The influencers named in...

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FTX Paid SBF and Others $3.2 Billion 

FTX made the transfers to SBF and others via the former CEO’s trading firm Alameda Research.  According to the new management of bankrupted crypto exchange FTX, $2.2 billion was transferred to SBF via various entities. In a press release, the company revealed that more than $3.2 billion was sent to Sam Bankman-Fried and other major employees according to a Schedules of Assets and Liabilities and Statements of Financial Affairs filed on March 15. FTX Transfers Over $3B to SBF and Other Key...

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