FTX Ex-CEO SBF argued that he should retain control of approximately $450 million in shares of financial trading app Robinhood. “Mr. Bankman-Fried requires some of these funds to pay for his criminal ...
Tag: FTX
Can DCG, Genesis, and Grayscale Survive the FTX Fallout?
After the FTX collapse, concerns around the Digital Currency Group (DCG) and its subsidiaries (Genesis, Grayscale) began spreading across the industry. Can the crypto market witness yet more contagion...
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 pla...
Crypto Derivatives Trading Volume Plunges in December As Sector Reckons With FTX Fallout: Report
A new report from blockchain market data provider CryptoCompare shows a massive decline in crypto derivatives trading activities last month following the collapse of industry giant FTX in November. In...
FTX Tremor Continues: Genesis Considers Filling for Bankruptcy
Genesis Trading laid off 30% of its workforce recently as it considers filing for bankruptcy. Firm suffers losses on loans it provided to Alameda and 3AC. Genesis’ parent company, DGC also shuts down ...
Robinhood Shares up 3.4% Despite Links to Bankrupt FTX
Godfrey Benjamin Shares of brokerage firm Robinhood up 3.4% amid its indictment with FTX Commission-free brokerage platform Robinhood Markets Inc saw its investors unfazed as its shares closed up 3.47...
TradFi Fights for Tougher Crypto Rulebook in Wake of FTX Collapse
According to the World Federation of Exchanges, whose members include Nasdaq, the Intercontinental Exchange and the London Stock Exchange Group, the FSB should even “strengthen its stance in requiring...
FTX Investigation Spotlight Shifted Now on Nishad Singh
3 hours ago | 2 mins read Exchange News US authorities were investigating FTX chief engineer Nishad Singh. According to the report, the Former engineering director has a $543 million loan. FTX’s ruina...
Bankman-Fried tells FTX debtors to leave his Robinhood shares alone
FTX co-founder Sam Bankman-Fried has filed a court action seeking to block debtors from taking control of his roughly $450 million stake in brokerage Robinhood. Lawyers for the disgraced exchang...
SEC probes FTX investors on due diligence procedures: Reuters
The U.S. Securities and Exchange Commission (SEC) wants to understand the due diligence process investors followed when it came to investing in collapsed crypto exchange FTX, according to a Reuters re...
Is SBF’s Effective Altruism Philosophy To Blame for the Fall of FTX?
Effective Altruism, the social movement and its heroes, have garnered a flurry of unwanted attention in the days since the fall of its most famous proponent and patron saint Sam Bankman-Fried, aka SBF...
US Government Seizes Robinhood Shares Linked to FTX Founder Sam Bankman-Fried – Regulation Bitcoin News
The U.S. Department of Justice (DOJ) is in the process of seizing Robinhood shares, worth about $460 million, that are linked to former FTX CEO Sam Bankman-Fried (SBF). “We believe that these assets a...
Silvergate Slashes 40% of Jobs as Further FTX Contagion Spreads
Silvergate Capital has been forced to take drastic action as a consequence of its association with FTX and its collapse. In addition to paring back its businesses, the bank has laid off roughly 40% of...
Contra Its Critics, Sequoia Capital Is the Hero of the Sam Bankman-Fried, FTX Story
Business columnist Gene Marks is angry. He feels that venture capital firm Sequoia Capital did the other 99.99999% of us harm by investing in FTX. In his words, “super-smart people led millions of uns...
Silvergate Layoffs 200 Employees Following FTX Domino Effect
Silvergate wrote off the $196M amount paid to Facebook as per the recent announcement. Around 40% of Silvergate Capital’s staff has reportedly been let go. Officially announcing the acquisition of Die...
Anyone Who Took Money From FTX Ought to Repay It
In his testimony before the House Financial Services Committee, current FTX CEO Jay J. Ray III laid out the most convincing case that fraud was committed while former FTX CEO Sam Bankman-Fried held th...
FTX Collapse Triggered $8,100,000,000 in Withdrawals at Crypto-Friendly Bank Silvergate: Report
The high-profile collapse of crypto exchange FTX has reportedly triggered a mass exodus from Silvergate, a crypto-friendly bank. According to a new report by The Wall Street Journal, the disintegratio...
Unreported Transactions Linked to Disgraced FTX Co-Founder Revealed by Onchain Investigation – Bitcoin News
According to onchain research, wallets connected to Sam Bankman-Fried, the disgraced co-founder of FTX, transferred a significant number of previously unreported transactions across various blockchain...
Silvergate Tumbles After FTX Implosion Prompts $8.1 Billion Bank Run
(Bloomberg) — Silvergate Capital Corp. shares plunged after the bank said the crypto industry’s meltdown triggered a run on deposits, prompting the company to sell assets at a steep loss and fir...
SBF Could Still Change His Not Guilty Plea: Madoff Lawyer
Bernie Madoff’s former lawyer is downplaying the significance of Sam Bankman-Fried’s not guilty plea on Tuesday. Ira Lee Sorkin, who represented Madoff, told Blockworks that the FTX founder’s in...
US Congress investigations into FTX are in limbo without a House Speaker
At the time of publication, the United States House of Representatives was at a historic standstill in its process of choosing a Speaker for the 118th Congress — a quagmire that could lead to lawmaker...
Silvergate Stock Crashes Nearly 50% As Bank Grapples With Crypto Crisis
Topline Silvergate Capital revealed Thursday a series of worrisome financial metrics—including $8.1 billion in withdrawals near the end of last year—connected to the shocking collapse of its top clien...
Sam Bankman-Fried Issues Not-Guilty Plea in FTX Case
Sam Bankman-Fried pleaded not guilty to a slate of alleged financial crimes before US District Judge Lewis Kaplan in Manhattan on Tuesday, though whether that plea will stand remains to be seen. The f...
FTX Linked Robinhood Shares Worth $460 Million To Be Seized By U.S. Justice Department
The United States Department of Justice is now stepping in to take control of matters in the ongoing brouhaha involving the now-defunct crypto exchange FTX and other parties. The DOJ is now working on...
Former FTX lawyer expected to testify against Sam Bankman-Fried
A growing number of associates of former billionaire Sam Bankman-Fried are choosing to cooperate with authorities, who are working to prosecute the FTX co-founder for a slew of criminal fraud charges....
Shares of Robinhood Worth $450M Seized by Regulators From FTX
3 hours ago | 2 mins read Exchange News The next court date involving FTX, and the Robinhood shares is set for January 20, 2023. FTX’s creditors and BlockFi stake a claim to the shares. While FTX was ...
Tom Lee: FTX Shouldn’t Reflect on the Crypto Space
Tom Lee of Fundstrat fame believes that what happened with the now disgraced crypto exchange FTX should not reflect on bitcoin or the industry in general. He still believes in the power of crypto and ...