FTX, Alameda Transfer $10.8m in Cryptocurrency to Three Exchanges
FTX and Alameda Research have transferred $10.8 million worth of cryptocurrencies to accounts on Binance, Coinbase, and Wintermute using eight tokens. According to Spot On Chain , the companies — now under receivership — transferred $10.8 million in eight crypto assets: 10 million StepN (GMT) ($2.58 million), 407,000 Uniswap (UNI) ($2.41 million), 2.23 million Synapse […]
FTX Sues Bybit in Lawsuit Aiming to Recover $953 Million
Crypto exchange FTX’s bankruptcy advisers filed a lawsuit against Bybit Fintech Ltd. to reclaim cash and digital assets valued at an astounding $953 million. According to the counsel, ByBit allegedly withdrew all of the funds shortly before FTX filed for Chapter 11 bankruptcy in November. The action, submitted on Friday, November 10, to a Delaware […]
FTX Seeks Permission to Sell Grayscale, Bitwise Assets
Insolvent cryptocurrency exchange FTX has petitioned the Delaware bankruptcy court for permission to sell approximately $744 million worth of key trust fund assets of crypto asset manager Grayscale Investments and custody service provider Bitwise. FTX debtors petitioned the court on November 3 for authorization to sell trust assets in anticipation of “imminent dollarized distributions to […]
FTX-linked Wallet Fails to Unstake $58 Million in Solana
A wallet labeled FTX Cold Storage 2 has failed to unstake 1.6 million Solana (SOL) tokens worth $58.76 million, according to blockchain data. The funds remain locked in the staking account, adding to the chaos caused by FTX’s collapse. An attempted unstaking of 1.6 million Solana (SOL) tokens worth $58.76 million from a wallet linked […]
Sam Bankman-Fried Addresses Political Donations Saga
Former CEO of FTX Sam Bankman-Fried tells the court about interpersonal problems, political donations, and financial misbehavior. On October 27, the former CEO of FTX, Sam Bankman-Fried (SBF), gave testimony on political donations that came from the cryptocurrency exchange. Courtroom reports state that Bankman-Fried explained that he never discussed donations to U.S. politicians with either […]