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
In a dramatic twist, the collapsed FTX cryptocurrency exchange finds itself at the heart of a brewing legal storm. According to a Bloomberg report, the prominent financiers and high-profile celebrity endorsers of the now-defunct platform are under the lens, facing potential consolidated class-action lawsuits. This wave of litigation comes after
Class action litigation against NBA legend Shaquille O’Neal and his Astrals NFT project was announced on Twitter by web3 IP and corporate attorney Ariel Givner, Esq. She explained the lawsuit’s basis on Twitter. Noting that the plaintiffs claimed Shaq’s putative invention, the Astrals tokens, and NFTs, were unregistered securities. The
FTX CEO John Ray III confirms the plans to reboot the operations of the ‘dead FTX’ exchange. On Monday, a court filing involving FTX Trading Ltd. at the United States Bankruptcy Court for the District of Delaware revealed the FTX 2.0 plans to the limelight. Significantly, the filing report clearly
Former FTX CEO Sam Bankman-Fried (SBF), co-founder Zixiao Wang, and executive Nishad Singh are being sued by FTX’s legal team. The stock-clearing platform Embed was acquired for $220 million, which is at the heart of the complaint. The attorneys claim that no proper due diligence was performed before the deal
LedgerX, one of the FTX assets that were court-approved for sale in January, has been acquired by the Miami International Securities Exchange (MIAX), operated by Miami International Holdings (MIH). U.S. government agencies oversee LedgerX since it is an exchange and clearinghouse. In a statement, MIH CEO Thomas Gallagher said that
In the aftermath of a failed acquisition by Binance.US, Voyager Digital, a crypto lending firm, has announced that its customers will be able to reclaim approximately 35% of their cryptocurrency deposits. As the company prepares to conclude its operations, this measure aims to provide some compensation to affected users. Judge
Earlier today, the United States Internal Revenue Service (IRS) filed 45 claims accounts worth 44 billion dollars against FTX, the collapsed cryptocurrency exchange platform. Along with this, it associates with the related firms as well. More About IRS Claims The claim reports include the partner companies of FTX such as
FTX, the devastated crypto exchange firm’s ex-CEO, Sam-Bankman Fried (SBF), is approaching the US court to cancel out a few charges against him. The intelligent fraudster was arrested in the Bahamas on November 20, 2022. The U.S. Justice Department has filed cases against SBF on eight different counts, which include
