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Search Results for: FTX

US Judge Spares Former FTX Exec Gary Wang from Prison Time

The trading platforms fraud case against Gary Wang, a former senior executive of the now-defunct FTX exchange, will not result in a prison sentence. Judge Lewis Kaplan of the United States District Court issued an unusually lenient ruling in Manhattan Federal Court. Wang had already entered a guilty plea for

November 21, 2024 2 mins read

Binance Under DOJ Scrutiny for FTX Related Crypto Holdings

The U.S. Department of Justice (DOJ) has registered a civil forfeit lawsuit to recover $16 million worth of crypto assets, assumed to be linked to the controversial crypto exchange, FTX and its founder Sam Bankman-Fried.  Among the crypto assets, more than half of the assets were held in Solana (SOL),

November 13, 2024 2 mins read

FTX Sues Binance and CZ for $1.8B Over Fraudulent Transfer

FTX has filed a lawsuit against Binance and its former CEO, Changpeng Zhao, in a bid to recover nearly $1.8 billion. The lawsuit, filed on November 10, alleges that Binance and Zhao received these funds as part of a fraudulent share repurchase deal in July 2021. This move marks another

November 11, 2024 2 mins read

FTX Bankruptcy Estate Reaches $228M Settlement with Bybit Exchange

In a legal filing made public on October 24th, the FTX bankruptcy estate announced a $228 million settlement with the Bybit exchange. The estate had first sued the exchange in 2023, attempting to recoup monies owed to creditors and former clients. The filing states that FTX will be able to

October 28, 2024 2 mins read

Former FTX Executive Nishad Singh Seeks to Avoid Jail Time

Nishad Singh, a former executive at the FTX cryptocurrency exchange, is making a plea to avoid prison time as he prepares for his sentencing on October 30. Singh’s legal team has described him as an “uncommonly selfless individual” in their recent filing, which includes over 100 letters of support from

October 17, 2024 2 mins read

FTX Token Drops 10% as Former Executive Begins Prison Term

Satoshi Nakamoto’s identity and the HBO documentary are the day’s talks for the crypto community. The HBO documentary has attempted to uncover the true identity of the creator of Bitcoin. Meanwhile, Ryan Salame, the former FTX executive’s 7-and-a-half-year prison sentence began in the past day.  In reflection, the FTX token

October 9, 2024 2 mins read

FTX Reorganization Plan Receives Approval from US Bankruptcy Judge

The Web3 community after a recent slump has begun to stir up its activity. Meanwhile, the looming US elections and FED reports have influenced the sector’s different aspects. While prices have shown mixed signals, the industry itself has become vibrant. A recent report stated that almost 7.51% of the global

October 8, 2024 2 mins read

FTX (FTT), Aptos (APT), or CYBRO: Which Will Achieve 500x Gains by 2024?

As the crypto market evolves, traders hunt for the next big opportunity. With multiple tokens vying for attention, predictions emerge about which will skyrocket. Among FTX (FTT), Aptos (APT), and CYBRO, one might deliver extraordinary returns by 2024. This article delves into analysis, trends, and growth potential to uncover which

October 6, 2024 3 mins read

FTX Secures Strong Creditor Support Ahead of Crucial Hearing

FTX’s reorganization plan has gained overwhelming support, with a significant majority of Dotcom voting creditors approving it. According to the final report released by the Kroll Restructuring Administration, 94.48% of creditors who returned their ballots voted in favor of the proposal. This support marks a crucial step toward resolving FTX’s

October 1, 2024 2 mins read

FTT Token Climbs 100% on FTX Repayment Rumors

FTX Token (FTT), linked to the bankrupt crypto exchange FTX, saw a dramatic surge on Sunday, gaining over 110% in just 24 hours. Alongside this price spike, trading volume also saw a jaw-dropping increase of 3653%, bringing FTT back to levels it hadn’t seen since January of this year. According

September 30, 2024 2 mins read