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
FTX’s loss-making sale of the derivatives trading platform LedgerX was approved by a U.S. court today. On Thursday, Judge John Dorsey swiftly approved the sale to M7 Holdings, a private equity firm. When the United States Bankruptcy Court in Delaware approved a motion to allow the sale. LedgerX CEO Zach
According to court records filed on May 3rd. FTX under John Ray III is trying to recover cash from insolvent platform Genesis by way of repaid loans, withdrawn liquidity, and collateral. There is more than $3.88 billion at stake for all Genesis-related organizations combined. FTX’s attorneys stated in court filings
Ryan Salame, the ex-CEO of FTX’s Bahamian subsidiary, allegedly had his house inspected by the FBI. The massive downfall of the once-prominent crypto behemoth has been followed by many months before the raid. Authorities, prosecutors, and disgruntled investors all say the exchange cheated its clients out of money, and they
The Securities Commission of the Bahamas (SCB) has instituted stringent new regulations for Virtual Assets Service Providers (VASPs) seeking to operate within its jurisdiction as a means of demonstrating that it has learned from the demise of the FTX Derivatives Exchange. The SCB claims it has raised financial and reporting
This Tuesday, Futures Exchange (aka FTX), a bankrupt crypto exchange firm has given an agreement of selling their crypto derivatives platform LedgerX for 50 million dollars to Miami International Holdings (MIH), a trading service provider. The CEO of FTX, John Ray said, “We are pleased to reach this agreement with
