FTX

BlockFi Begins Creditor Repayments and Asset Withdrawals

October 26, 2023 1 min read

Crypto lending platform BlockFi has successfully emerged from bankruptcy. Effective October 24, BlockFi has initiated the process of repaying some of its creditors, allowing customers to withdraw their assets from their BlockFi Wallets. Furthermore, BlockFi has outlined plans for customers with BlockFi Interest Accounts (BIA) and loans to withdraw their assets in early 2024. This breakthrough enables BlockFi to actively pursue the recovery of assets from entities it believes owe

FTX Exchange Investigates $6.5 Million Payments to AI Safety Organization Amid Clawback Efforts

October 26, 2023 1 min read

Bankrupt crypto exchange FTX is seeking information regarding $6.5 million in payments made to a nonprofit AI safety organization, the Center for AI Safety (CAIS). The payments were reportedly made between May and September 2022, several months before FTX’s collapse and declaration of bankruptcy. In a court filing on October 25, FTX’s legal representatives requested permission from a Delaware Bankruptcy Court judge to issue subpoenas to CAIS. These subpoenas would

FTX crypto exchange announces its plan to return 90% of customer funds

October 19, 2023 1 min read

The FTX crypto exchange has announced its plan to return 90% of customer funds. This decision comes as a relief to customers who had funds on the platform. The exchange made the announcement on its official website, stating that it had made progress in addressing its financial situation. Over the past few months, the FTX exchange has been working to resolve issues related to users’ withdrawals and account balances. As

Alameda CEO Caroline Ellison Says She and SBF Were Trying to Bring Down Binance

October 12, 2023 1 min read

The ongoing trial involving Sam Bankman-Fried (SBF), the founder of FTX, has taken another surprising turn as key figure Caroline Ellison, CEO of Alameda Research, provided insights into the inner workings of the company. During SBF testimony, Caroline revealed a task on his to-do list: “Get regulators to bring down Binance.” Caroline also admitted to negotiating $10 billion in debt, raising questions about the source of these funds. The FTX

FTX Takes Action Against Executive Who Exposed Alameda’s Hidden Backdoor

October 6, 2023 1 min read

Former Chief Risk Officer Julie Schoening, previously employed at LedgerX, an FTX-owned entity, faced termination shortly after raising concerns about the preferential treatment given to FTX’s affiliated trading firm, Alameda Research. This revelation has emerged from sources cited by the Wall Street Journal. In May 2022, Schoening’s team unearthed code that indicated Alameda was enjoying distinct advantages, including the ability to maintain a negative balance of up to $65 billion.

12 Individuals Hold the Power to Determine Sam Bankman-Fried’s Fate

October 5, 2023 1 min read

A diverse group of 12 individuals will play a pivotal role in determining the outcome of the case involving former FTX CEO Sam Bankman-Fried. During the jury selection process, each potential juror had a moment to introduce themselves, sharing details about their backgrounds, ages, occupations, education, relationship status, and whether they have children. Notably, one prospective juror mentioned that his wife had worked for a law firm that had provided

Alameda Transferred $4.1 Billion in FTT Tokens to FTX Prior to Market Crash

October 4, 2023 2 mins read

Blockchain data analysts from Nansen have revisited the days leading up to the collapse of FTX, including the transfer of $4.1 billion worth of FTT tokens between the exchange and Alameda Research. A Nansen report reveals unique observations from the blockchain analytics firm, highlighting the close relationship between the two companies founded by Sam Bankman-Fried as the former FTX CEO appears in court to face a litany of charges relating

FTX Founder Sam Bankman-Fried Appeals for Pre-Trial Release in New York

September 21, 2023 2 mins read

Sam Bankman-Fried FTX exchange is gearing up for a crucial pretrial release hearing before the U.S. appeals court. This hearing comes as he prepares to face trial on October 3. Bankman-Fried’s initial plea for release was overturned last month after prosecutors argued that he was undermining the credibility of a key witness, Caroline Ellison, a former executive at Alameda Research. The upcoming pretrial release hearing will involve presentations from Bankman-Fried’s

FTX Gets Ready to Resume Operations After Security Breach

September 18, 2023 1 min read

Cryptocurrency exchange FTX has been on a journey to mend its relationship with users after a turbulent period last year. However, their efforts faced a setback in August when a cyberattack disrupted their operations, leading to funds being siphoned off by hackers. Now, as they put the security threat behind them, the exchange is gearing up to go back online. On Sunday, September 17, FTX announced the reopening of its

FTX Sues LayerZero for Alleged Unauthorized Fund Withdrawals

September 12, 2023 2 mins read

Cryptocurrency exchange FTX has initiated legal proceedings against LayerZero Labs, a cross-chain protocol, in an attempt to recover $21 million in funds that FTX claims were illicitly withdrawn prior to its closure in November. The dispute revolves around a series of transactions conducted between Alameda Ventures and LayerZero earlier in the year. Alameda Ventures, the venture capital arm of Alameda Research and a sister company to FTX, engaged in transactions

Alameda Buys Yacht for Co-CEO Sam Trabucco

September 6, 2023 2 mins read

The FTX bankruptcy court proceedings have shed light on some previously undisclosed expenses incurred by the exchange’s C-Suite. While some expenditures, like the purchase of Robinhood shares by SBF and Gary Wang, were already public knowledge, a 57-page document unveiled a few surprises. One such revelation was a substantial sum transferred to the American Yacht Group for the benefit of John Samuel Trabucco, just six months before his departure from

SBF Bail Rejected, Marking Path to Jail Before Fraud Trial

August 12, 2023 1 min read

A recent development in the case of Sam Bankman-Fried (SBF), the founder of the now-bankrupt FTX exchange, has taken the crypto community by surprise. U.S. Federal Judge Lewis Kaplan has made a significant decision to revoke SBF’s bail, leading to his immediate custody. As SBF awaits his impending criminal trial scheduled for October 2, the decision to revoke his bail raises questions and sparks discussions within the cryptocurrency ecosystem. During