Genesis Petitions Court to Reduce 3AC Claim from $1B to $33M
Genesis, a bankrupt crypto lender, has petitioned the court to approve its proposed settlement agreement, which intends to reduce Three Arrows Capital’s (3AC) claim from $1B to $33M. Genesis petitioned the court on November 9 to grant the 3AC debtor a permitted general unsecured claim of $33 million against Genesis. This sum represents 3.3% of […]
Sam Bankman-Fried to Testify in Criminal Trial
In the criminal fraud case, the former CEO of FTX will be one of a limited number of witnesses to testify in his defense. As part of his defense, former FTX CEO Sam “SBF” Bankman-Fried will testify, according to his attorney Mark Cohen . Cohen stated in a telephone conference held on October 25 between […]
FTX Creditor Claims Break 50c as Buyers Made Whole
The market is warming up to FTX claims, with a single claim fetching between 52 and 53 cents on the dollar at Friday’s auction. According to Thomas Braziel, partner at 117 Partners , a firm specializing in crypto bankruptcy claims, the market for FTX creditor claims has been heating up, with some claims purportedly selling […]
SBF Looks into FTX Lawyer’s Actions in $200M Alameda Loans
Sam Bankman-Fried’s legal team is requesting permission to cross-examine Gary Wang regarding the involvement of FTX attorneys in Alameda loan approvals. Sam Bankman-Fried’s legal team is requesting permission to investigate the alleged involvement of FTX attorneys in issuing $200 million in loans from Alameda, which Gary Wang approved. A court ruling issued on October 1 precluded […]
Trial Day 3: SBF’s Circle to Testify in Court
Adam Yedidia, a personal friend of Sam Bankman-Fried (SBF) and former Alameda Research and FTX employee, and Gary Wang, FTX co-founder, will appear in court as witnesses in the trial. A young entrepreneur who made errors while operating a crypto empire or a liar who stole and used the money of others to enrich himself? This […]