FTX Exchange

Names of People Who Posted SBF’s Bond Should be Made Public, US Judge Rules (Report)

Judge Lewis Kaplan in Manhattan reportedly ruled that the names of the two individuals who allowed Sam Bankman-Fried (SBF) to stay at his parents’ house under a $250 million bond should be made public.  The former CEO of FTX faces several charges, including fraud and money laundering. His trial date is set for October 2,...
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Alameda Sues Voyager in Attempt to Recoup Loan Repayments

The FTX Group’s bankruptcy proceedings have seen their fair share of surprising, if not downright hilarious, moments. A motion filed on the 30th of January continues in the spirit of prior ones, seeking to absolve FTX Leadership of all responsibility. Loan Repayment Requested Earlier this year, Voyager Digital was forced to file its own Chapter...
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SBF Tried to Influence a Former FTX Employee’s Testimony, US Prosecutors Claim

The disgraced founder and former CEO of FTX tried to contact and potentially influence the witness testimony of another exchange employee, according to the US Department of Justice. As such, the prosecutors want to introduce two new rules for SBF’s bail. Sam Bankman-Fried was released on a $250 million bond in December last year, and...
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FTX Chasing Bankman-Fried Family for Answers Over Wealth: Report

FTX asked a judge if they could question the family under oath about their wealth and personal fortunes, according to a court filing. Sam Bankman-Fried’s closest relations and a handful of company executives are still in the spotlight as the firm continues to hunt for hidden assets to repay creditors, reported Bloomberg on Jan. 26....
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FTX Creditors List Include Apple, Google, Amazon, WSJ, and Even Australia’s Govt

A recent document filed with the United States Bankruptcy Court for the District of Delaware revealed that FTX’s creditors consist of over 9.7 million companies and individuals. Some of the most famous entities include the likes of Apple, Amazon, Google, Meta, Netflix, Microsoft, and more. Who Got Burned? One of the darkest moments in crypto’s...
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Uncensored BlockFi Financials Leaked, Nearly Half of All Assets Tied to FTX Group

BlockFi, already rattled by prior exposure to 3AC, was forced to file for Chapter 11 bankruptcy shortly after the FTX Group went down, taking a sizable number of crypto-related companies with it. The FTX Group’s relationship with BlockFi was two-sided – on one hand, the exchange had previously extended a line of credit to BlockFi,...
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Companies Should Separate Clients’ Crypto Assets From Their Own: NYDFS

The New York State Department of Financial Services (NYDFS) urged firms to set apart customers’ cryptocurrency holdings from their own assets. The watchdog argued that co-mingling funds could trigger a significant financial loss for investors. The NYDFS’ Recommendation New York’s financial watchdog issued guidance to state-regulated companies on how they should better protect clients in...
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US Feds Confiscate Nearly $700M of Sam Bankman-Fried’s Assets: Report

The United States Federal prosecutors have confiscated nearly $700 million in cash and assets connected to Sam Bankman-Fried, the disgraced founder of FTX. At the heart of the seizure are the 55 million Robinhood shares owned by Bankman-Fried and Gary Wang, valued at over $455 million. The ownership of the shares has been disputed even...
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A Car Crashed Into the Barricade of SBF’s Current Home, Lawyers Said

The lawyers of Sam Bankman-Fried (SBF) цлаимед that three men drove their vehicle into a metal barricade outside his parents’ house in California.  The family of FTX’s former CEO recently admitted becoming a target of “intense media scrutiny, harassment,” and even physical threats. The Security Incident The gigantic crash of FTX caused multi-billion investor losses and turned...
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Genesis Has $226 Million in Claims Against FTX

Genesis – a top crypto lending unit that filed for bankruptcy on Thursday – was listed as FTX’s top unsecured creditor within the exchange’s own bankruptcy documents.   The firm has an unliquidated claim against FTX worth $226 million.  Per FTX’s Thursday filing, the defunct exchange has ten customers to whom it owes over $100 million...
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Scam Alert: Fraudsters Created a Fake FTX 2.0 Token to Dupe Users

Scammers have created a fake FTX token, dubbed FTX 2.0, to impersonate the now-bankrupt crypto exchange less than 24 hours after the company’s new CEO announced that the platform could be revived. According to blockchain security firm PeckShield, the bad actors sent the tokens to the FTX exchange, pretending to add liquidity before airdropping them...
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Cameron Winklevoss Ready to Take Legal Action Against DCG’s Barry Silbert

The Co-Founder of Gemini – Cameron Winklevoss – said he could sue the CEO of Digital Currency Group – Barry Silbert – for allegedly defrauding over 340,000 Earn users. The threat comes shortly after Genesis (a subsidiary of DCG) filed for Chapter 11 bankruptcy protection.  The Verbal Fight Goes on The partnership between Genesis and...
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John Ray Says Reviving FTX is on the Table: Report

The acting Chief Executive Officer of FTX, John J. Ray III, who is in charge of making sure that the creditors of the bankrupt exchange receive as much compensation as possible, said that the platform might restart. In an interview with The Wall Street Journal, John J. Ray III said that restarting the exchange is on the...
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OKX Releases Proof-of-Reserves Report With $7.5B “Clean Assets”

After the excessive turmoil in the crypto market triggered by the FTX liquidity and bankruptcy scandal, several crypto service providers began publishing their reserve funds. Popular crypto exchange OKX released its third Proof-of-Reserves (PoR), in which it revealed holding “clean assets” worth $7.5 billion in BTC, ETH, and USDT. In a statement, OKX’s Chief Marketing...
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Sam Bankman-Fried Maintains FTX US is Solvent, Despite Debtors’ Claims

FTX’s former CEO, Sam Bankman-Fried, has reiterated claims that FTX US is solvent following FTX debtors’ latest statements to the contrary.  According to Bankman-Fried, the group failed to account for customers’ bank balances, which bring the US entity’s assets well above its liabilities to customers.  Clearing the Air on FTX US In a substack post...
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FTX US Discovers Another $90 Million Missing

As the bankruptcy and restructuring saga of FTX and its affiliated entities continues to unfold, more and more instances of assets being transferred off of the exchange come to light. Inching Closer to Half a Billion The US DOJ has already begun investigating the $400 million hack that drained assets from FTX’s ownership. Whether the...
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Silvergate Capital Announced a $1 Billion Net Loss for Q4, 2022

The cryptocurrency-focused bank – Silvergate Capital – reported a net loss of $1 billion for the last quarter of 2022 due to the turmoil reigning in the digital asset sector. The firm recently laid off nearly half its workforce amid massive client withdrawal requests. The Disappointing Q4 The fourth quarter of 2022, with its market...
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Former FTX US President Shares What Destroyed his Relationship With SBF

Brett Harrison, who stepped down from his role as President of the US branch of FTX just weeks before the implosion, finally broke the silence and shed some more light on his relationship with SBF. He added that neither he nor any of the other execs at FTX US knew about the fraud that SBF...
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NBA Giant Miami Heat Officially Terminates Naming-Rights Deal With FTX

One of the most successful NBA teams – Miami Heat – finally annulled its partnership with the cryptocurrency exchange FTX.  As a result, the home ground of the basketball giant will no longer be called FTX Arena. Cutting All Ties  A federal bankruptcy judge officially canceled the collaboration between Miami-Dade County (the territorial division where the NBA...
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FTX Greenlighted to Sell 4 Independently Operated Subsidiaries

The Bankruptcy Court of Delaware has approved bidding procedures for four of FTX’s independent solvent subsidiaries in an attempt to generate money to repay the creditors. In Thursday’s hearing, Judge John Dorsey, currently overseeing FTX’s liquidation, cleared the troubled exchange’s motion to sell four key units – derivatives arm LedgerX, stock-clearing platform Embed, FTX Japan,...
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SBF Breaks Silence During Home Arrest; Gives Details on FTX (In)solvency

Sam Bankman-Fried (SBF) has released a written statement detailing his account of FTX and Alameda Research’s collapse, including approximations of each firm’s financials before it took place.  The former CEO maintains that FTX could have made customers “substantially whole” within a few weeks, had he not been pressured to file for bankruptcy.  The Pre-Mortem The...
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Here’s the Amount of FTX Shares Tom Brady and Gisele Bundchen Will Probably Lose

The NFL legend Tom Brady and his ex-wife Gisele Bundchen collectively own nearly 1.8 million FTX shares. Their investment will most likely be entirely wiped out due to the exchange’s demise in November. Other prominent people and companies who invested in the former crypto giant include the likes of Kevin O’Leary, Robert Kraft, Thoma Bravo,...
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FTX Locates $5 Billion in Assets, Attorney Says: Report

In a hearing from today, a bankruptcy attorney said that FTX has managed to locate over $5 billion of assets. Per a CoinDesk report, the attorney said that they’ve managed to locate over $5 billion of cash and liquid assets. We have located over $5 billion of cash, liquid cryptocurrency, and liquid investment securities measured...
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DCG CEO Barry Silbert Addresses Speculation in Letter to Shareholders

On Jan. 10, DCG CEO Barry Silbert reflected on the state of the crypto industry and the increasing waves of speculation about his firm in the wake of the FTX fallout and contagion. Silbert acknowledged that 2022 was a tough year and DCG and its subsidiaries were not immune to the effects of the present...
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BlockFi to Reveal Statement of Financial Affairs on January 11th

BlockFi said it plans to disclose assets and liabilities, as well as statements of certain payments made by the platform to insiders and other parties prior to its bankruptcy filing in November. In the latest update, the embattled crypto lending announced it would file both its Schedules of Assets and Liabilities and its Statement of...
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Former FTX Chief Engineer Wants A Deal With US Authorities: Report

Unlike FTX Group executives Caroline Ellison and Gary Wang, who pleaded guilty earlier during the investigation, Nishad Singh – the former chief engineer of the defunct crypto exchange – doesn’t have any charges leveled against him. However, as previously reported by CryptoPotato, Singh’s GitHub appeared to be tied to FTX’s secret Korean account, which was...
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Crypto Funding in 2022 Down Over 40% Compared to 2021: CoinGecko

Cryptocurrency projects obtained 42.5% less funding in 2022 compared to what they received in 2021.  Still, last year’s capital was significantly higher than the figures in 2018, 2019, and 2020. Funding in 2022  The crypto winter that hit the digital asset industry in 2022 has triggered a major market decline, an outflow of investor interest,...
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DOJ Seizes $470 Million in Robinhood Shares From FTX Executives

Sam Bankman-Fried (SBF) and his former right-hand, Gary Wang, are unable to retain ownership of almost half a billion dollars worth of Robinhood shares, according to a court document dated January 6th.The US Department of Justice (DOJ) has seized the executives’ holdings in response to charges of wide-ranging fraud against Bankman-Fried and FTX, with which...
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Ex-FTX US President Hints at Future Disclosure of Insider Info

The former president of FTX US took to Twitter, questioning the motives behind contemporary tech startups remaining private for long periods of time instead of seeking public funding, preferring to raise funds by issuing tokens. However, he had to face the expected questions about the FTX controversy. Staying Vague Owing to his previous prestigious position...
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SEC Investigates Whether FTX Investors Followed Due Diligence Procedures (Report)

The US Securities and Exchange Commission has reportedly asked some FTX investors whether they conducted proper research on the cryptocurrency exchange before becoming its clients. Recall that the platform (considered among the giants in its field) crashed in November, causing multi-billion losses and shaking the entire market to its core. As reported by Reuters, the...
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