A fresh investigation report by the defunct exchange claims that the new FTX management team has recovered $7 billion. Furthermore, the new administration claims to have made “substantial progress” in recouping lost assets. However, a recently released investigation report indicates the exchange has an $8.7 billion debt to its consumers.
FTX co-founder Sam Bankman-Fried (SBF) was turned down in his attempt to collect papers from Silicon Valley legal firm Fenwick & West LLP as part of his defense strategy in his continuing federal fraud prosecution. Bankman-Fried wanted to utilize this evidence to prove that he had sought and followed legal
On Thursday, in an effort to recover $700 million in investments allegedly made with diverted FTX money, the bankrupt cryptocurrency exchange FTX sued K5 Global and associates. According to a bankruptcy court lawsuit filed by FTX in Wilmington, Delaware, Sam Bankman-Fried (SBF), the company’s founder, was a “profligate patron” who
The FTX crypto exchange has severe charges due to the bankruptcy faced. As per the court filing, the federal prosecutors are processing to withdraw the charges imposed on FTX and the founder, Sam Bankman Fried. According to the court report, over 13 accusations against Bankman Fried were filed. Furthermore, Bankman
As part of its continuing bankruptcy procedures, the now-defunct FTX exchange was granted permanent anonymity for its users by a Federal Court in a historic judgement. The Associated Press reported that the verdict came after a two-day hearing in which the media and the United States Bankruptcy Trustee argued against
According to Semafor, FTX is considering selling its interest in OpenAI competitor Anthropic. According to reports from November 2022, the cryptocurrency exchange now owns over $500 million worth of shares in Anthropic. Semafor reports that the bank that might be selling the shares is Perella Weinberg, and that the bank
The contribution of $550,000 to the Metropolitan Museum of Art from the cryptocurrency exchange FTX will be returned after the exchange’s failure in November. In a filing with the United States Bankruptcy Court in Delaware on June 2, the New York-based museum reaffirmed its plan to reimburse the monies to
In the latest twist of the high-stakes legal battle, Sam Bankman-Fried, the founder of the now-defunct FTX cryptocurrency exchange, is resorting to an unconventional strategy. According to recent court filings, Bankman-Fried requests access to documents from the legal advisory firm that once served his platform. Specifically, the former crypto CEO
An important step has been taken in the wake of the FTX collapse with the referral of a lawsuit involving the appointment of an independent investigator to the US Third Circuit Court of Appeals by a judge in Delaware. The administration and a number of Senators first banded together to
On Monday, May 29th, Singaporean investment firm Temasek Holdings stated it will reduce pay for the group that had proposed an investment in the defunct FTX cryptocurrency exchange. In the wake of the FTX exchange’s demise in November 2022. Temasek was forced to take a $275 million write-down on its
