The legal teams representing Alameda Research, FTX US and FTX Trading have filed a complaint against the Bahamas-based FTX Digital Markets, claiming the company was a “fraudulent enterprise” used as a shell entity to obfuscate the question of the firm’s ownership. In a March 19 filing with the United States Bankruptcy Court for the District...
The debtors in FTX’s bankruptcy case have reported that the various company silos had more than $4 billion in scheduled assets as of November 2022, but said they were still investigating the firm’s crypto holdings. In a March 17 filing with the United States Bankruptcy Court for the District of Delaware, FTX debtors submitted a...
According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX’s $6.8...
YouTube Influencers Face $1 Billion Lawsuit for FTX Promotion Plaintiff Edwin Garrison is claiming $1 billion in damages in a lawsuit against YouTube Influencers. Garrison claims the influencers actively marketed FTX without disclosing the nature of their paid endorsements to their followers. Meet Kevin, BitBoy Crypto, and LegalEagle voiced their opinions on the matter. On...
The debtors in FTX’s bankruptcy case hreported the various company silos had more than $4 billion in scheduled assets as of November 2022, but said they were still investigating the firm’s crypto holdings. In a March 17 filing with United States Bankruptcy Court for the District of Delaware, FTX debtors submitted a presentation to the...
A new class action lawsuit alleges that several well-known finance YouTubers, including Graham Stephan, Andrei Jikh, Jaspreet Singh and others, should be held responsible for promoting now-disgraced cryptocurrency exchange FTX. The lawsuit’s plaintiff is Edwin Garrison, a private investor who also filed a lawsuit against former FTX CEO Sam Bankman-Fried himself, plus celebrity promoters like...
© Reuters. FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, exits the Manhattan federal court in New York City, U.S. February 16, 2023. REUTERS/Eduardo Munoz (Reuters) – Bankrupt cryptocurrency exchange FTX made transfers of about $2.2 billion to company founder Sam Bankman-Fried through...
Illustration by Alex Castro / The Verge ChipMixer, a cryptocurrency mixing service with ties to the hacks targeting FTX and Axie Infinity, has been pulled offline by the FBI, Europol, and other international authorities. In a press release published Wednesday, the Justice Department says authorities seized $46 million worth of cryptocurrency along with the service’s...
An international coalition of law enforcement agencies announced on Wednesday that it had taken down the popular dark web crypto laundering service ChipMixer, seizing more than $46 million in crypto and terabytes of server data. The service, for example, was used last year by the attacker who stole funds from the now failed crypto exchange...
Silicon Valley Bank down, USDC depegged, FTX billed $34M in Jan.: Hodler’s Digest, March 5-11 Silicon Valley Bank shut down by California regulator, holding over $5 billion for prominent crypto VCs Silicon Valley Bank (SVB) was shut down by Californias financial watchdog on March 10 after announcing a significant sale of assets and stocks aimed...