Shaq Faces Lawsuit Over FTX, Astrals Crypto Deals
Shaquille O’Neal faces legal troubles for his alleged promotion of FTX Exchange and Astrals NFT project, both accused of defrauding investors. Shaquille O’Neal received two complaints about his crypto endorsements while broadcasting an NBA game on Tuesday night. The former basketball star was served with the complaints at the ex-FTX Arena in Miami (now renamed […]
Crypto Asset Classification: CFTC Chair vs. Former Commissioner
On crypto classification, ex-CFTC Commissioner Dan Berkowitz speaks on cryptocurrency community Asset Status. Gary Gensler, chairman of the Securities and Exchange Commission, believes all are securities with investment contracts. Using Ethereum as an example, he stated there is a “special case” where something can be both. “It can be a commodity under the CEA [Commodity […]
FTX sues Genesis, Affiliate, for $3.9 Billion
FTX claims that Genesis and GGC International owes it $3.9 billion in cash and cryptocurrency for loans and withdrawals made prior to the exchange’s collapse. The crypto exchange FTX, which filed for Chapter 11 bankruptcy in November 2021, is attempting to recover $3.9 billion in cash and cryptocurrency from Genesis Global Capital and its non-bankrupt […]
OTPP writes off $95 million crypto investment after FTX collapse
OTPP has written off its $95 million investment in FTX, a crypto exchange that went bankrupt amid fraud allegations and a liquidity crisis. The fund said it invested $95 million in FTX through its Teachers’ Venture Growth platform, representing less than 0.05% of its net assets. The Ontario Teachers Pension Plan (OTPP) was among the prominent […]
BlockFi Wins Extension for Bankruptcy Plan
BlockFi, the crypto lending platform that went bankrupt after the FTX crash, has secured more time to submit its bankruptcy plan. BlockFi, the crypto lending platform that filed for bankruptcy in November 2022 after the FTX crash, has won a few more weeks (May 15) to come up with a plan to restructure its business […]