FTT Token Experiences Explosive 70% Growth in a Week Amidst FTX Relaunch Speculation

FTT Token Surges 70% in a Week Amidst Speculation of FTX Relaunch

1 min read

The native token of the collapsed FTX exchange, FTT, has seen a significant surge in price in recent days, as speculation and rumors surrounding the exchange’s potential relaunch intensify. Over the past week, FTT has gained 71.2%, trading at $1.69 at the time of writing. The token’s market cap has also witnessed substantial growth, increasing by around $233 million to reach $556.9 million. While FTT’s year-to-date rally stands at nearly

Bankrupt cryptocurrency brokerage Voyager Digital is obligated to pay $1.1 million in legal fees to Kirkland & Ellis

Voyager Ordered to Pay $1.1M in Legal Fees Stemming from April Legal Proceedings

1 min read

Bankrupt cryptocurrency brokerage Voyager Digital is obligated to pay $1.1 million in legal fees to Kirkland & Ellis, its legal advisor, for their involvement in the company’s bankruptcy proceedings in April. The documents reveal that Kirkland & Ellis implemented a blended hourly billing rate for various services, with the cumulative fees surpassing $1.4 million. Notably, certain high-ranking members of the law firm charged hourly rates exceeding $2,000 for their professional

FTX Accuses Former Exec of Utilizing 'Hush Money' to Silence Whistleblowers

FTX Accuses Former Executive of Using ‘Hush Money’ to Silence Whistleblowers

1 min read

Cryptocurrency exchange FTX has taken legal action against its former regulatory and compliance executive, Daniel Friedberg, alleging that he orchestrated a series of payments to prevent employees from exposing the exchange’s issues. In a 40-page lawsuit filed on June 27, FTX accuses Friedberg of making “hush money” payments to potential whistleblowers, along with other fraudulent activities. The exchange seeks to recover substantial sums of money and equity granted to Friedberg

FTX Puts $500M Stake Sale of AI Firm Anthropic on Hold, Reports Suggest

FTX Reportedly Suspends $500M Sale of Stake in AI Company Anthropic

1 min read

The sale of FTX’s $500 million stake in artificial intelligence startup Anthropic has hit a roadblock, as the advisory investment bank Parella Weinberg Partners has reportedly put the sale on hold. This development poses a potential delay in FTX’s efforts to address the $2 billion deficit remaining in its balance sheet following its bankruptcy. Multiple parties had shown interest in purchasing FTX’s stake in Anthropic, making it a significant opportunity

A federal judge has denied pretrial motions to dismiss criminal charges against FTX founder Sam Bankman-Fried

FTX Founder Sam Bankman-Fried Denied Motions to Dismiss Criminal Charges by Judge

1 min read

A federal judge has denied pretrial motions to dismiss criminal charges against FTX founder Sam Bankman-Fried, paving the way for his trial to go forward. Bankman-Fried is facing a range of charges, including wire fraud, bank fraud, operating an unlicensed money transmitter, bribery, and campaign finance violations. He had filed seven pretrial motions seeking the dismissal of the majority of these charges, but Judge Lewis Kaplan of the U.S. District

FTX Bankruptcy Team Reveals $8.7B in Customer Debt Owed by the Exchange

FTX Bankruptcy Team Reveals $8.7 Billion Debt Owed to Customers

2 mins read

In a shocking turn of events, a recent report from the FTX team conducting a thorough investigation into the failed exchange has revealed that the company owes its customers a staggering $8.7 billion. The report exposes the commingling and misappropriation of customer deposits, with approximately $6.4 billion in fiat currency and stablecoin being misused. Despite the dire circumstances, there is some hope, as $7 billion in liquid assets have been

Cryptocurrency exchange FTX has filed a lawsuit against several investment firms it was previously associated with before its collapse.

FTX Files Lawsuit Seeking $700 Million from Former Investment Firms and Associates

2 mins read

Cryptocurrency exchange FTX has filed a lawsuit against several investment firms it was previously associated with before its collapse. The lawsuit, filed in the United States Bankruptcy Court for the District of Delaware, includes 16 counts and aims to recover over $700 million from the defendants. The defendants named in the lawsuit filing are K5 Global, an incubator and investment company, as well as Mount Olympus Capital, SGN Albany Capital,

FTX is facing mounting legal and advisory expenses as it navigates its bankruptcy proceedings.

FTX’s Bankruptcy Expenses Surge: Legal and Advisory Fees Reach $121.8 Million

2 mins read

The defunct cryptocurrency exchange FTX is facing mounting legal and advisory expenses as it navigates its bankruptcy proceedings. Recent data reveals that between February 1 and April 30, FTX incurred a staggering $121.8 million in advisory fees and costs. Notably, legal representation from Sullivan & Cromwell accounted for a significant portion of these expenses, totaling $37.6 million. In comparison, investment banking firm Jeffries billed the smallest amount, representing a mere

SBF to Face Trial on Initial 8 Criminal Charges, US Prosecutors Confirm

FTX Co-Founder Sam Bankman-Fried to Face Trial on Original Charges, US Prosecutors Confirm

1 min read

The criminal trial of Sam Bankman-Fried, co-founder of FTX, will proceed with the original eight charges leveled against him by United States prosecutors, according to recent developments. In a court filing on June 14, the U.S. Department of Justice (DoJ) confirmed its intention to move forward with the trial on the charges initially brought against Bankman-Fried in December 2022. The DoJ cited a motion filed by Bankman-Fried in the Bahamas,

A federal judge dismissed a request to transfer control of embattled crypto exchange FTX's $7.3 billion disputed assets to a foreign court.

U.S. Courts Seek to Take Control of $7.3B in FTX Assets Amid Bankruptcy

2 mins read

In a recent bankruptcy hearing, a federal judge dismissed a request to transfer control of embattled crypto exchange FTX’s $7.3 billion disputed assets to a foreign court. The decision dashed the hopes of Bahamian liquidators seeking to stake a claim on some of these assets, as U.S. Bankruptcy Judge John Dorsey emphasized the core jurisdictional issue of asset ownership. The hearing, held at the U.S. Bankruptcy Court for the District

Court documents reveal that the FTX customer list is considered highly valuable

FTX Exchange Bankers Push to Keep Highly Valuable Customer List Confidential

1 min read

In the aftermath of FTX’s financial collapse, the bankrupt crypto exchange finds solace in its extensive customer base. Court documents reveal that the customer list is considered highly valuable, prompting a debate over its confidentiality. As potential buyers and investors express interest in acquiring or reorganizing FTX, the sealed customer list has become a focal point of discussion, with arguments for and against its release. Kevin Cofsky, a partner at

FTX Raises Concerns Over Genesis' Zero Debt Statement

FTX Disputes Genesis’ Zero Debt Assertion in Latest Challenge

1 min read

Bankrupt crypto exchange FTX has challenged a claim by Genesis that it owes no money to FTX. In a court filing, FTX said it is a major creditor of Genesis and was not invited to a mediation session arranged by the court in May. Genesis allegedly handpicked the participants in the mediation. FTX claims that it is owed $3.9 billion in cash and cryptocurrency from Genesis. The company alleges that

© copyright 2024 all rights reserved | Optimisus