FTX

Gensler faces backlash from Republicans for lack of Bankman-Fried transparency

April 14, 2023 2 mins read

The Securities and Exchange Commission (SEC) Chair Gary Gensler faces a congressional subpoena threat from House Republicans if the regulator fails to provide information related to the charges brought against Sam Bankman-Fried, the failed crypto mogul. The Republicans are demanding the staff memo recommending charges for Bankman-Fried, as well as other information related to the charges filed by the agency against him. The congressional probe centers around the timing of

FTX plans to relaunch in Q2 after resolving asset recovery issues

April 13, 2023 1 min read

FTX, the embattled cryptocurrency exchange, announced on Wednesday during a Bankruptcy court hearing that it has made significant progress in asset recovery. The exchange reported it had recovered a total of $7.3 billion in cash and cryptocurrency assets, which is an increase of $800 million since January. The latest recovery update is seen as a significant turn of events, especially for FTX’s customers, who have been eagerly waiting to access

Ren Protocol to Transfer Crypto Assets to FTX Debtors’ Wallets in Shutdown Contingency Plan

April 13, 2023 1 min read

Cross-chain bridge platform Ren Protocol has announced that it will be moving all of its crypto assets to FTX debtors’ wallets. This move was authorized and directed by FTX, Alameda Research, and other affiliates who acquired Ren Protocol in 2022. The decision to transfer assets to FTX debtors’ wallets was made to ensure that debtors can safeguard their assets in the event of a potential shutdown of Ren Protocol’s systems

Bankrupt Crypto Exchange FTX Should Consider Relaunch, Says Former Sales Chief

April 12, 2023 1 min read

The former head of institutional sales at FTX, Zane Tackett, has suggested that the now-defunct cryptocurrency exchange should relaunch and offer a token that represents creditor claims. Tackett suggested that this would give creditors some value, no matter how small, and a way to price the assets held by FTX. He proposed that the new exchange should offer a market for FTX claims based on one token per $1 lost,

Leading Japanese Snack Food Maker Calbee Inc. to Deploy Its Evolving Potato Chip NFTs on Astar Network

April 11, 2023 4 mins read

Tokyo, Japan, April 11th, 2023 Astar Network, the smart contract platform for multichain, today announced that Japan’s leading potato chips and snacks company Calbee Inc. will issue evolving NFTs on the Astar blockchain as part of a new promotional campaign, “NFT Chips”. With Calbee’s NFT Chips Campaign, consumers who buy a pack of Usu-Shio, Consomme-Punch or the immensely popular Nori-Shio potato chips will be able to claim a free, evolving Potato NFT

FTX Accused of Complicating Bankruptcy Asset Recovery by Neglecting Financial Controls, States Legal Filing

April 10, 2023 2 mins read

Former executives of the bankrupt cryptocurrency exchange FTX are being blamed for the company’s failure to install appropriate financial controls, which is complicating the asset recovery process. According to a court filing dated on Sunday, representatives of FTX Trading Ltd. claim that the previous management team, which included its founder Sam Bankman-Fried, failed to implement control measures and “placed its crypto assets and funds at risk from the outset.” The

FTX’s Sam Bankman-Fried Has Only 5 Days Left To Use His Smartphone

April 6, 2023 1 min read

Sam Bankman-Fried, the ex-CEO of crypto exchange FTX, has a limited time left to use his smartphone and play video games before the government imposes strict bail conditions. The new rules will force Bankman-Fried to surrender his smartphone and laptop in exchange for a heavily monitored version that only allows access to certain approved websites. He will also be banned from using video games with chat or voice communication. Legal

Astroon Launches Astroon Fall, Their First Mobile Game

March 25, 2023 3 mins read

Istanbul, Turkey, 23rd March, 2023 ASTROON is an innovative crypto project that aims to offer a unique and exciting experience for crypto enthusiasts. The project combines animated films, NFTs, and a utility token to create an immersive and interactive entertainment experience for users. The project’s vision is to create an enchanted journey for users where they can embark on an exciting adventure from Earth to the Moon with Astro and Roon,

FTX Aims to Recover $460M from VC Firm with Ties to Bankman-Fried

March 23, 2023 1 min read

The bankrupt cryptocurrency exchange, FTX, is seeking to recover $460 million in allegedly misappropriated customer funds from venture capital firm Modulo Capital. The venture capital firm received a sizeable investment from Alameda Research last year, which is understood to have been at the direction of FTX’s CEO, Sam Bankman-Fried. FTX claimed that Alameda Research invested $475 million in Modulo in a series of transfers beginning in May 2022. According to

SBF Lawyers Request Postponement of October Trial Citing Need for More Evidence

March 10, 2023 1 min read

Attorneys representing Sam Bankman-Fried, the founder of crypto exchange FTX, have suggested that a delay of his October 2 criminal trial may be necessary. The lawyers argued that additional time may be required to thoroughly review the evidence and prepare a defense for the upcoming trial. In a letter to U.S. District Judge Lewis Kaplan, Bankman-Fried’s lawyers said that they were still waiting for a “substantial portion” of evidence to

FTX Legal and Accounting Fees Skyrocket to Nearly $40 Million in One Month

March 8, 2023 2 mins read

Bankruptcy lawyers for embattled crypto exchange FTX have submitted a hefty invoice for their work, while creditors are seeking their BTC back from Grayscale. The phalanx of lawyers working with FTX on its bankruptcy case billed a whopping $38 million for their expenses in January. The epic bill is for a team of hundreds of lawyers, consultants, paralegals, and accountants, according to court documents. FTX administrators have retained law firm

DOJ Seeks to Restrict Sam Bankman-Fried’s Bail to Flip Phones Only

March 5, 2023 1 min read

The United States Department of Justice has proposed new bail conditions for former FTX CEO Sam Bankman-Fried (SBF), requesting he is restricted from using smartphones, tablets, computers, and other devices that allow chat and voice communication. The proposal restricts his communication to a flip phone or other non-smartphone with either no internet capabilities or internet capabilities disabled. The proposal was submitted to District Judge Lewis Kaplan of the Southern District