Michael Lewis Biography Exposes Mismanagement Allegations at FTX Exchange and Sam Bankman-Fried’s ‘Rounding Error’ Attitude
A new biography by Michael Lewis has brought forward allegations of mismanagement at the FTX cryptocurrency exchange and revealed some intriguing details about its founder, Sam Bankman-Fried. In an interview on CBS's 60 Minutes, Lewis disclosed that Bankman-Fried regarded the missing billions of dol ...
Solana Holders on Edge as FTX’s $628 Million Liquidation Looms
The Peril of Holding Solana Amidst FTX's Imminent Liquidation Reports suggest FTX is preparing to offload $628 million worth of Solana. Anticipated market repercussions could drive Solana's price down to the $5-$8 range. Investors with holdings in SOL may be expo ...
Prosecutors Oppose Dismissal of Charges Against FTX Founder Sam Bankman-Fried
Federal prosecutors have called the arguments of Sam Bankman-Fried, founder of the bankrupt FTX crypto exchange, demanding that several charges against him be dismissed. In early May, Sam Bankman-Fried filed a motion with the court to dismiss 10 of the 13 charges, which i ...
Investors File Lawsuit Against Shaquille O’Neal for Alleged Promotion of Unregistered NFTs
Investors have filed a class action lawsuit against basketball player Shaquille O'Neal, accusing him of promoting the Astrals' non-interchangeable tokens (NFTs) and violating securities laws. According to a complaint filed by investor Daniel Harper in the U.S. District Co ...
FTX Exchange Manager Works on Relaunch Plans as FTT Token Gains 9%
According to new court documents on the Kroll law firm's website, FTX exchange manager John Ray is working to relaunch the platform. Against this backdrop, the FTT token gained 9%. In a court document dated May 22, FTX filed a compensation report that outlined a number of ...
Neel Kashkari Questions Effectiveness of Central Bank Digital Currencies
Federal Reserve Bank of Minneapolis President Neel Kashkari has spoken out strongly against central bank digital currencies, questioning whether they can improve the speed and efficiency of payments. Neel Kashkari noted that the topic of launching a digital dollar has recen ...
FBI Searches Home of FTX Exchange Founder’s Associate Over Political Contributions
He is one of Bankman-Fried's closest associates He was involved in the creation of the exchange and served as co-CEO of the Bahamas unit Salame also received millions in royalties from Alameda Research, as did other members of top management In the ea ...
Billionaire Chamath Palihapitiya claims US regulators have “strangled” the cryptocurrency sector
According to billionaire and venture capitalist Chamath Palihapitiya, the cryptocurrency industry in the United States is on the brink of collapse due to what he believes is the stifling regulations imposed by the government. Palihapitiya claims that the US authorities vi ...
BitBoy Crypto ignores court hearing in FTX exchange case and faces possible arrest
Crypto blogger BitBoy Crypto, whose real name is Ben Armstrong, has missed a court hearing related to a lawsuit against FTX exchange and threats made by Armstrong towards plaintiffs' lawyer Adam Moskowitz. Armstrong was supposed to testify in the case, but instead he posted a photo of himself on ...
Tribe Capital Considers $250 Million Fundraising Campaign to Relaunch FTX Exchange
Tribe Capital, a Menlo Park-based venture capital firm with over $1.6 billion in assets under management, is reportedly mulling over a $250 million fundraising campaign to relaunch the failed FTX cryptocurrency exchange. The plan is said to involve self-financing at least $100 million and attract ...
Galaxy Digital CEO Michael Novogratz Claims US Government is Hostile to Cryptocurrencies
Galaxy Digital CEO, Michael Novogratz, has expressed his belief that the US government has taken a hostile stance towards the cryptocurrency industry. In an interview with Bloomberg, Novogratz stated that the Biden administration and the US Democratic Party don't like cryptocurrencies, largely du ...
Eversheds Sutherland Files Bankruptcy Court Request to Protect Foreign FTX Users’ Assets
Eversheds Sutherland, a law firm, has taken legal action to safeguard the interests of foreign clients of the bankrupt FTX exchange. The firm has filed a request in a bankruptcy court to freeze assets that were previously frozen in the accounts of these clients. The objective is to separate the f ...
Investors sue Bitboy Crypto owner for promoting bankrupt FTX exchange
A group of investors has recently filed a class-action lawsuit against Ben Armstrong, the owner of Bitboy Crypto, for allegedly promoting the bankrupt cryptocurrency exchange FTX. The lawsuit, which was filed in the District Court for the Southern District of Florida, names several other defendan ...
FTX Exchange Managers Find $8.9 Billion Shortfall in Client Funds
The FTX cryptocurrency exchange managers recently discovered that only $2.7 billion out of the expected $11.6 billion were available in their customers' accounts. The temporary administration of FTX.com and FTX US performed an inventory of almost all associated wallets, revealing a significant sh ...
FTX Japan Confirms Customer Funds Withdrawal in February Despite Bankruptcy Proceedings
FTX Japan, a subsidiary of the FTX exchange, which is currently undergoing bankruptcy proceedings, has announced that its customers will be able to receive their funds in February. The exchange has sent notifications to its customers, informing them that they can now verify their bank accounts an ...