FTX

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

Kraken Co-founder Critiques FTX Reboot, Calling It a Step Backward

August 2, 2023 1 min read

Days after FTX unveiled a reboot plan, Kraken FX co-founder Jesse Powell raised concerns over the viability of the FTX relaunch, suggesting that it might face challenges worse than starting from scratch. The troubled crypto exchange recently revealed a new strategy to relaunch and settle its debts, but doubts persist about the success of this plan. Powell’s skepticism stems from the existing hurdles that FTX faces. The tarnished reputation of

Australian Regulator Cancels FTX Australia’s License Amidst Crypto Exchange Turmoil

July 22, 2023 2 mins read

The Australian financial services regulator, the Australian Securities and Investments Commission (ASIC), has taken significant action by canceling the license of FTX Australia, the local unit of the embattled crypto exchange. This move comes amidst the bankruptcy woes of the crypto platform, creating uncertainty in the Australian crypto market. On 19th July, ASIC issued a press release announcing the cancellation of FTX Australia’s Australian Financial Services (AFS) license. However, the

FTX Files Lawsuit Against Sam Bankman-Fried and Ex-Executives Seeking to Recover $1 Billion

July 21, 2023 2 mins read

FTX has taken legal action against its former CEO, Sam Bankman-Fried, and several other key executives from the now-bankrupt crypto exchange. The lawsuit aims to recover more than $1 billion in allegedly misappropriated funds. The complaint, filed in a United States Bankruptcy Court on July 20, names Caroline Ellison, former Alameda Research CEO, Zixiao “Gary” Wang, FTX co-founder, Nishad Singh, former FTX engineering director, and Bankman-Fried as defendants. The lawsuit