The U.S. Department of Justice (DOJ) has filed a civil forfeiture complaint to seize cryptocurrency worth about $16 million held in a Binance account. This action is the result of a years-long investigation into suspected illegal activities tied to alleged bribery schemes involving FTX founder Sam Bankman-Fried, also known as SBF. The Alleged Bribery Scheme...Read More
Sam Trabucco, the former co-CEO of Alameda Research and a close associate of FTX founder Sam Bankman-Fried, has reached a preliminary settlement with the creditors of the now-defunct cryptocurrency exchange. In a proposed agreement, Trabucco agreed to relinquish several high-value assets to help repay the bankrupt firm’s debts. The Settlement Deal According to a November...Read More
Alameda Research, the trading arm of the bankrupt crypto exchange FTX, has filed a lawsuit against Aleksandr Ivanov, the founder of the Waves blockchain and its related entities. The court filing on November 10th revealed that Alameda aims to recover at least $90 million, which it states belongs to the firm and the debtors involved...Read More
Nishad Singh, the former FTX head of engineering, was sentenced to time served and three years of supervised release. He avoided further prison for his role in the multibillion-dollar fraud at the collapsed cryptocurrency exchange. Singh, sentenced by Judge Lewis A. Kaplan in New York, also faces an $11 billion forfeiture, becoming the fourth ex-FTX...Read More
FTX has reached a significant milestone in its bankruptcy proceedings as the US Bankruptcy Court for the District of Delaware has officially approved the company’s reorganization plan. This comes nearly two years after the crypto exchange’s historic collapse in November 2022. FTX Bankruptcy Reorganization Plan Approved The confirmed plan, which received overwhelming support from creditors,...Read More
Caroline Ellison was sentenced to two years in federal prison on Tuesday for her involvement in the FTX fraud scandal. The 30-year-old was also ordered to forfeit $11 billion, which she earned through her association with the now-collapsed cryptocurrency exchange. Ellison’s Cooperation Judge Lewis A. Kaplan, who presided over the case, acknowledged the former Alameda...Read More
According to a late Tuesday filing from her lawyers, Caroline Ellison, the former CEO of Alameda Research, should be sentenced to time served and supervised release. The request comes ahead of her scheduled sentencing on September 24, 2024, for her involvement in the collapse of the cryptocurrency exchange FTX. Extraordinary Cooperation In the Tuesday filing,...Read More
United States District Judge Peter Castel has finalized a $12.7 billion settlement, obligating the bankrupt cryptocurrency exchange FTX and its sister company Alameda Research to compensate the former’s creditors. This decision is part of a settlement with the United States Commodity Futures Trading Commission (CFTC). Judge Approves $12.7 Billion Settlement Judge Castel’s approval, filed on...Read More
Crypto mining firm Genesis Digital Assets – backed by Sam Bankman-Fried’s fallen hedge fund, is reportedly mulling over an initial public offering (IPO) in the US as the crypto sector gains steam. According to Bloomberg sources, Genesis Digital Assets is currently consulting advisers on a possible listing. The mining company intends to initiate a pre-IPO...Read More
Former FTX co-CEO Ryan Salame was sentenced yesterday to 90 months in prison, according to Damian Lewis, the United States Attorney for the Southern District of New York. Salame previously pled guilty to conspiring to make illegal political contributions and defraud the Federal Election Commission and to conspiracy to run an unlicensed money-transmitting business before...Read More
Pantera Capital is reportedly in the process of securing funds from major investors to acquire heavily discounted Solana tokens from the bankruptcy estate of FTX. The company is raising capital for the Pantera Solana Fund, which presents an attractive opportunity to purchase up to $250 million worth of SOL tokens from the FTX estate. Marketing...Read More
Bankrupt firms BlockFi and FTX have announced an agreement “in principle” to settle their disputes. According to a March 6 court filing, FTX has committed to paying up to $874.5 million to BlockFi, marking a potential resolution to a long-standing legal battle between the two entities. $874 Million Settlement Under the agreement terms, subject to...Read More
Bankrupt lending firm Celsius has transferred over $125 million worth of its Ether to crypto exchanges in the past week as part of its initiative to repay creditors. The move follows that of FTX and Alameda Research, which also resumed funds transfer earlier this month. $125 Million ETH Transfer From January 8 to January 12,...Read More
Solana’s native – SOL – token has been on an absolute tear this month. After flipping XRP, it briefly surpassed BNB before settling as the fifth-largest crypto asset. Over the past week alone, SOL has surged by nearly 23%, partly fueled by the excitement surrounding airdrops, which contributed to the complete sell-out of Solana’s Saga...Read More
FTX and Alameda have been actively divesting their holdings. Within the past 24 hours, both entities have transferred $36.01 million worth of MATIC and AVAX to various exchanges. This is a testament to their ongoing commitment to reaching settlements with creditors amidst the twists and turns of the bankruptcy battle. FTX Selling Spree Continue Based...Read More
FTX and its sister company, Alameda Research, have deposited $24 million worth of digital assets onto exchanges Kraken and OKX, as reported by Spot On Chain today. Over the past few hours, FTX has deposited three different assets to the two exchanges days after transferring more to Binance, among other centralized exchanges. FTX and Alameda...Read More
The defunct crypto exchange FTX, along with its sister company Alameda, successfully transferred approximately $38.5 million worth of assets to other centralized exchanges. According to reports, the ongoing selling spree by FTX and Alameda is driven by the necessity to meet their obligations to creditors. FTX’s Selling Spree? According to on-chain analyst Spot On Chain,...Read More
The crypto wallets associated with the now-defunct crypto exchange FTX and its sister trading firm, Alameda Research, persist in diversifying their investments across various altcoins on numerous crypto exchanges. According to Spot On Chain data, FTX and Alameda’s addresses recently transferred nine assets amounting to $46 million to Kraken, Binance, and Coinbase once again. FTX...Read More
According to Spot On Chain, addresses related to FTX and Alameda transferred $13.6 million to Binance and Coinbase on November 1. This development comes as Sam Bankman-Fried’s case continues on allegations of fraud and money misuse, among others. Massive Deposits of EVM Tokens Continue FTX deposited $8.12 million worth of three assets to Coinbase earlier...Read More
Solana had a strong association with FTX, and the latter’s collapse last year had significant repercussions for the SOL token. However, the seventh-largest crypto-asset has pursued a strong recovery this year. According to Nansen’s latest analysis, SOL has been trending positively since the summer. In fact, the SOL vs ETH ratio was found to have...Read More
The bankrupt cryptocurrency exchange has staked close to $170 million in several crypto assets, including Solana, Ethereum, and MATIC. Blockchain data revealed that the defunct platform has staked over 5.5 million SOL and more than 24K ETH. FTX Move to Staking Staking is primarily the practice of locking up cryptocurrencies on a blockchain network to...Read More
In a wild twist of fate, the crypto world’s foundation trembled as the FTX empire crumbled last year, leaving its founder, Sam Bankman-Fried, standing trial for a fraud of epic proportions. The US government asserts that this disgraced crypto mogul orchestrated one of the grandest financial deceptions in history, while his defense paints him as...Read More
Conor Grogan, a director at Coinbase, recently took to X to point out that on-chain data reveals that Alameda Research minted 39.55 billion USDT tokens. This figure represents 47% of the current circulating supply of Tether. Alameda Research’s Role in USDT Minting In a recent revelation, Conor Grogan took to social media to share insights...Read More
Zac Prince – former CEO of collapsed crypto lending firm BlockFi – took the stand during Sam Bankman-Fried’s trial in New York City on Friday. The CEO discussed the size of his loans to the exchange’s sister trading desk, Alameda Research, and what exactly he knew about the state of their balance sheet as one...Read More
During a secret recording obtained by prosecutors, Caroline Ellison, the former CEO of Alameda Research, has revealed details of financial impropriety within the organization and its affiliate, FTX. Ellison’s candid confession occurred during a biweekly “all-hands” meeting held on November 9, 2022, at Alameda Research’s Hong Kong office, just two days before FTX declared bankruptcy....Read More
Alameda Research, affiliated with FTX, will receive $175 million from GGC as the United States Bankruptcy Court for the Southern District of New York endorsed the settlement agreement between the exchange and Genesis Global Holdco. The news comes amid Sam Bankman-Fried’s trial, which has revealed the inner workings at both FTX and Alameda, including financial...Read More
A former engineer at Alameda Research, the sister hedge fund of FTX, alleges that the firm incurred losses exceeding $190 million due to preventable scams. Aditya Baradwaj, the whistleblower, emphasized the frequent “significant security incidents” resulting from the firm’s fast-paced operations. These allegations were documented in a post titled “The Hacks” on the platform X....Read More
Sam Bankman-Fried, founder of cryptocurrency exchange FTX, is making a bold move in his ongoing legal battle. Bankman-Fried is seeking to shed light on the involvement of lawyers in what prosecutors have termed a “$200 million sham” involving Alameda Research, the hedge fund arm of FTX. Wang’s Testimony Sheds Light on Legal Structure of Alameda...Read More
Aditya Baradwaj, a former engineer at the bankrupt cryptocurrency trading firm Alameda Research, has revealed that the company was behind bitcoin’s 87% plunge in 2021. Baradwaj explained the events that led to the sudden drop, saying the incident was a result of a work philosophy established by Alameda’s co-founder Sam Bankman-Fried (SBF), which maintained that...Read More
With about two weeks to go until the start of Sam Bankman-Fried’s trial, yet another trove of documents replete with everything from his early life to unverifiable attempts at exonerating himself has surfaced. Lots of Words, Little Substance Sticking to the tone of his lengthy – yet ultimately trite – substack posts and interactions with...Read More
