A debtor subsidiary of the FTX conglomerate, Alameda Research. Has filed a lawsuit against Grayscale Investments in the Delaware State Court of Chancery, the company stated today. Thus, adding a fresh wrinkle to the ongoing bankruptcy battle. Further claims were filed by the FTX Debtors against Grayscale CEO Michael Sonnenshein,
A copy of Multicoin Capital’s yearly investor letter revealed a 91.4% loss for the hedge fund in 2022. The fall was blamed in the letter on the tumultuous year for cryptocurrencies and the direct and indirect effects of the FTX crypto exchange’s closure. The letter stated: “While the fund successfully
On March 3, Silvergate, a cryptocurrency bank, stated that it will be closing down its digital asset payment network. Citing a “risk-based decision” as the reason for the move. This action was taken after the bank’s shares dropped by 59% in the previous five days on worries that it would
U.S. officials will provide former FTX founder Sam Bankman-Fried with a new phone and a laptop with enhanced security measures. As part of the new bail regulations, the mobile device must be a flip phone or “non-smartphone.” And internet access on the laptop must be restricted to just whitelisted sites.
The former FTX director of engineering, Nishad Singh, has reportedly entered a guilty plea to criminal charges in the United States, as reported by Reuters. During today’s hearing, Singh’s solicitor revealed his client’s decision to plead guilty. The former director was accused of fraud related to the bankruptcy exchange platform
The collapse of FTX last autumn was a bad omen for the crypto sector, damaging the young industry’s credibility and trustworthiness. And this is a huge pushback, says Emin Gün Sirer, CEO and founder of Ava Labs. Sirer stated: “The damage that Sam did is immeasurable. All of that goodwill
After charges were hurled against the FTX’s former CEO, Sam Bankman-Fried, the ailing cryptocurrency exchange has gotten involved in controversies and scandals. In spite of the termination of its services on November 8, FTX Japan, the exchange’s Japanese branch, has lately indicated that it would respect withdrawals of client cash.
Today the world’s leading crypto hedge fund Galois Capital announced its closure after losing significant funds in the cryptocurrency exchange FTX collapse. Galois stated in a tweet, “Thank you all for the kind words. Yes, it is true that our flagship fund is shutting down”. I appreciate the outpouring of
It has been reported that Nishad Singh, a former executive of the crypto exchange FTX, is to plead guilty to fraud charges related to the collapse of the exchange. Singh used to be the head of engineering and was considered to be in Sam Bankman-Fried’s inner circle. According to Bloomberg,
The Japanese branch of the defunct cryptocurrency exchange FTX apparently has withdrawals scheduled. This is expected to start for impacted customers as early as the month of February. Bloomberg reported on February 17 that FTX Japan sent out messages. Requesting customers to verify their account balances before withdrawals could be
