FTX Sues Ex-Clinton Aide’s Firm for $700M
FTX has filed a lawsuit against K5 Global, an investment firm co-owned by Michael Kives, a former aide to Hilary Clinton. The lawsuit accuses Kives and his associates of fraudulently receiving $700 million from FTX through shell companies and fake transactions. The lawsuit, filed on June 22 in the Delaware Bankruptcy Court, accuses Kives and […]
SBF to Face Trial on Eight Charges Over FTX Collapse
The U.S. Department of Justice (DoJ) has confirmed that it will proceed with the trial of SBF, the co-founder of FTX, on the original eight charges of fraud and conspiracy. The trial is scheduled to start on October 2, 2023. SBF, whose full name is Sam Bankman-Fried, was extradited from the Bahamas, where FTX was […]
Federal Prosecutors Urge Court To Proceed With Charges Against SBF
U.S. Federal prosecutors in the Sam Bankman-Fried (SBF) have urged the court to proceed with all charges against the former FTX founder, stating that the FTX founder’s arguments to dismiss criminal charges are without merit. In a nearly 100-page filing, prosecutors stated that these motions presented by SBF’s attorneys are without merit. “The charges parallel […]
FTX Japan Permits Full Fund Withdrawals
Users of FTX Japan have begun withdrawing all of their monies as the litigation between FTX and SBF waits patiently for a resolution. As Changpeng Zhao, the CEO of Binance, indicated the cryptocurrency exchange would liquidate its sizeable holdings of FTX Token (FTT $1.51), the crypto platform delayed fund withdrawals on November 7, 2022. On […]
U.S. DOJ to seize Robinhood shares tied to Bankman-Fried
The Justice Department seized Robinhood shares and more than $20 million in U.S. currency as part of the criminal case against SBF. In connection with the criminal investigations into the leaders of the cryptocurrency exchange FTX, the US Department of Justice has formally notified the court overseeing BlockFi’s bankruptcy that it has seized assets. The […]