The Democratic Senate Majority PAC plans to return $3 million in contributions from the management of the defunct cryptocurrency exchange FTX due to the negative publicity surrounding the firm. Ex-FTX engineering chief Nishad Singh gave $2 million, while former CEO Sam Bankman-Fried (SBF) gave $1 million. According to CNBC, a
The former CEO of FTX, Sam Bankman-Fried’s defense lawyer Jerone Roberts announced on Monday afternoon that “his client has accepted to voluntarily extradited to the United States”, where federal authorities have prosecuted SBF with eight charges of fraud and conspiracy. The 180-degree door was turned open by Bahamas officials for
Sherrod Brown, the head of the United States Banking Committee, propounded that the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to embargo Cryptocurrency. He further stated that the Treasury Department and “all the other agencies” should evaluate any potential actions linked to the Cryptocurrency market. Brown
The blockchain-focused venture capital firm Fenbushi Capital US has led Amber group’s new $300 million Series C investment round, the business announced on Twitter on December 15. As a result of the FTX collapse, Amber has opted to delay its Series B fundraising. And go through with its Series C
In the Southern District Court of California, clients of insolvent cryptocurrency firms FTX and Alameda Research have filed a class action complaint against Silvergate Bank, Silvergate Capital Corporation, and Silvergate CEO Alan Lane. The lawsuit accuses Silvergate of playing a part in the collapse of FTX. By routing customer contributions
Sam Bankman-Fried, the founder of the bankrupt crypto exchange, FTX, has been denied bail by a judge in the Bahamas. According to the latest reports, the Bahamian authorities will continue to detain Bankman-Fried, following his arrest held on December 12. Joyann Ferguson-Pratt, the judge presiding over the case, has ordered
Sam Bankman Fried, the CEO of the shuttered crypto exchange FTX, was arrested in the Bahamas on December 12 after US prosecutors filed criminal charges. According to an announcement from the Bahamas Attorney General (AG) and Minister of Legal Affairs, Ryan Pinder, SBF was arrested by the Royal Bahamas police
Significantly, the entire market has been affected by the ongoing crisis of FTX and Alameda over recent months. All businesses and sectors linked with crypto space experienced a terrible face of its life. In that line, Alameda or Genesis were the creditors of Genesis global over a certain period. Thus,
Jon Tester, the senior senator from Montana, has held that position since 2007. In fact, he serves on the Senate Banking Committee and is a significant figure in US crypto regulations. On Dec 11, NBC’s news conference stated that there is “no reason why crypto should exist.” He also claimed
The valuation of Chipper Cash, one of the numerous African fintech businesses funded by the now-defunct FTX, fell from $2 billion to $1.25 billion after the company received investment from the now-defunct crypto exchange. Even as this news broke, reports emerged that Chipper Cash had laid off as many as
