Appeal Court Orders Appointment of Independent Examiner for FTX
The United States Court of Appeals for the Third Circuit ordered the judge supervising the bankruptcy of cryptocurrency exchange FTX to appoint an independent examiner months after the initial filing. Three judges of the Third Circuit reversed a ruling by Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware on January […]
Former FTX CEO Hires New Lawyers, May Appeal Fraud Conviction
Sam Bankman-Fried, the ex-CEO of FTX, has changed his legal representation and filed a sealed document ahead of his sentencing for seven counts of fraud and money laundering. Sam Bankman-Fried, also known as SBF, the former CEO of the cryptocurrency exchange FTX, has informed the federal court that he has hired new lawyers to defend […]
Banking App Dave to Buy Back $100M Stake From FTX
Neobank Dave has agreed to pay FTX liquidators $71 million in exchange for a convertible promissory note for $100 million that FTX Ventures has provided. This note was first issued by FTX Ventures, a venture capital entity associated with the now-defunct exchange FTX. As per the revised agreement, Dave is going to secure the debt […]
FTX Exploiter Transfers $36.8M in Ether as SBF Trial Begins
FTX exploiter’s wallet address transferred approximately $36.8 million worth of Ether in the wake of Sam Bankman-Fried’s (SBF) court trials, bringing the current balance in their portfolio down to $196.014 million after a series of transfers. The accounts of FTX and FTX.US were depleted of $600 million on November 11, 2022, hours after the cryptocurrency […]
Binance Facing New Class Action Lawsuit
Another class action lawsuit against Binance Exchange and CEO Changpeng “CZ” Zhao is pending because of an unhealthy FTX game. Another class action lawsuit has been filed against cryptocurrency exchange Binance Holdings Ltd. and its CEO Changpeng ‘CZ’ Zhao, for allegedly contributing to the demise of its main rival, FTX Derivatives Exchange. According to a […]