Creditors of the defunct FTX exchange have taken legal action by suing the law firm managing the bankruptcy case in a class-action lawsuit. Creditors of FTX claimed in a court document dated February 16 that Sullivan & Cromwell, or S&C, “actively” took part in the “FTX Group’s multibillion dollar fraud,”
John Ray III, CEO of the FTX debtors estate, has filed paperwork to sell Digital Custody to CoinList at a steep discount of $500,000, with funding coming from Terence Culver, the original CEO and seller of DC. At first, FTX paid $10 million to acquire Digital Custody. The acquisition of
An independent examiner was ordered to be appointed by the court presiding over the bankruptcy of FTX crypto exchange by the United States Court of Appeals for the Third Circuit, months after the initial filing. Ruling of Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware
The short-term loans that Digital Currency Group (DCG) had with the now-defunct Genesis crypto lending platform have all been paid off, according to the venture capital company. On January 6th, DCG verified in a statement posted on X (formerly Twitter) that it had paid all of its debts, including almost
Within the ever-changing landscape of cryptocurrency predictions, only a select few voices carry the weight of prophecy through rigorous analysis and research. One such voice belongs to a long-time financial analyst who accurately predicted the fall of the FTX token (FTT). Several months before the Sam Bankman-Fried-led FTX cryptocurrency exchange
The cryptocurrency industry faces another major setback as Changpeng Zhao (CZ), the founder and CEO of Binance, has stepped down and pleaded guilty to breaking US anti-money laundering laws. Further, CZ agreed to the $4.3 billion settlement, which is one of the largest corporate penalties in US history, including a
Solana (SOL) jumped nearly 10% in the past 24 hours, leading gains among top cryptocurrencies as investors regain confidence in the blockchain project once heavily backed by the now-disgraced Sam Bankman-Fried. SOL crossed above $63 on Wednesday, reaching prices not seen since last May. Trading volumes also spiked over 70%
FTT, the token of bankrupt crypto exchange FTX, soared over 72% after SEC head Gary Gensler’s statements signaling his openness to a resurrection of the exchange “within the law.” Gensler’s remarks come after rumors that three buyers are approaching FTX, including ex NYSE president Tom Farley’s crypto exchange Bullish. None
Securities and Exchange Commission (SEC) Chairman Gary Gensler has expressed a cautiously optimistic perspective regarding the potential revival of the defunct cryptocurrency exchange, FTX. Gensler’s remarks came during a discussion at DC Fintech Week, where he underlined that a reinvigorated FTX could succeed if its new leadership operates with a
Despite the recent price slump, Solana has shown incredible resiliency in continuing its upward trend. Recent on-chain statistics shows that the cryptocurrency ended October with a 61.58% rise. The overall crypto market has been trading in red lately with the price of Bitcoin down 3.17% in the last 24 hours,
