Category: FTX
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FTX сreditors reveal compensation details: What’s wrong with it?
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Users were confused by the news that FTX clients would receive between 10% and 25% of the value of their deposited cryptocurrency assets. Why did this happen? Sunil Kavori, one of the creditors, recently said that several other changes are also scheduled to be made in the reorganization plan. One…
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A tearful Caroline Ellison is sentenced to two years in prison for her part in the FTX collapse: ‘I’m sorry I wasn’t brave’
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On Tuesday, former FTX CEO Caroline Ellison stood on a podium on the 21st floor of a Manhattan courthouse, her voice cracking as she asked the judge to reduce her sentence. Her parents and two younger sisters watched as she addressed the court. “My mind can’t even comprehend the pain…
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SEC Charges FTX Audit Firm With Negligence And Independence Violations
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The U.S. Securities and Exchange Commission (SEC) has reached a settlement with auditing firm Prager Metis, which agreed to pay $1.95 million to resolve allegations of misconduct related to its audits of now-defunct cryptocurrency exchange FTX. $745,000 due to FTX audit failure On Tuesday, the Securities and Exchange Commission It…
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SEC Charges FTX Audit Firm With Negligence And Independence Violations
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The U.S. Securities and Exchange Commission (SEC) has reached a settlement with auditing firm Prager Metis, which agreed to pay $1.95 million to resolve allegations of misconduct related to its audits of now-defunct cryptocurrency exchange FTX. $745,000 due to FTX audit failure On Tuesday, the Securities and Exchange Commission It…
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Sam Bankman-Fried demands new trial over FTX fraud verdict
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Former FTX CEO Sam Bankman-Fried is appealing his 25-year prison sentence following a five-week trial late last year. According to the New York Times, Bankman-Fried resume A November 2023 court ruling found the FTX founder guilty of defrauding investors of more than $8 billion. His new attorney, Alexandra A.E. Shapiro,…
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Sam Bankman-Fried demands new trial over FTX fraud verdict
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Former FTX CEO Sam Bankman-Fried is appealing his 25-year prison sentence following a five-week trial late last year. According to the New York Times, Bankman-Fried resume A November 2023 court ruling found the FTX founder guilty of defrauding investors of more than $8 billion. His new attorney, Alexandra A.E. Shapiro,…
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Attorneys push for no prison time for Caroline Ellison in FTX fraud case
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Caroline Ellison’s lawyers are asking for her to be released from prison and given supervised release, citing her cooperation in the FTX case. Caroline Ellison, the former CEO of Alameda Research, is seeking time served and probation instead of prison as her sentencing date approaches on Sept. 24. Submit a…
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Attorneys push for no prison time for Caroline Ellison in FTX fraud case
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Caroline Ellison’s lawyers are asking for her to be released from prison and given supervised release, citing her cooperation in the FTX case. Caroline Ellison, the former CEO of Alameda Research, is seeking time served and probation instead of prison as her sentencing date approaches on Sept. 24. Submit a…
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SEC criticized for dubious stablecoin stance in FTX bankruptcy
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The SEC is facing criticism for its recent bankruptcy filing for FTX, echoing its controversial approach in the Voyager case. Recently Submit filesThe US Securities and Exchange Commission has warned FTX that it may oppose plans to repay creditors using stablecoins or other digital assets, citing potential legal concerns. This…
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US Judge Orders FTX, Alameda To Pay A Staggering $12.7 Billion To Creditors
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FTX ruling issued. US District Judge Peter Castel agreed to $12.7 billion deal This requires the failed FTX exchange and its sister trading company, Alameda Research, to pay off their debts. On August 7, 2024, a ruling was issued ending a protracted legal dispute with the U.S. Commodity Futures Trading…
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US Judge Orders FTX, Alameda To Pay A Staggering $12.7 Billion To Creditors
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FTX ruling issued. US District Judge Peter Castel agreed to $12.7 billion deal This requires the failed FTX exchange and its sister trading company, Alameda Research, to pay off their debts. On August 7, 2024, a ruling was issued ending a protracted legal dispute with the U.S. Commodity Futures Trading…
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BlockFi nears final distribution after selling FTX claims
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BlockFi has announced the sale of FTX claims, enabling the near-final distribution of 100% of all permitted customer and unsecured creditor claims. BlockFi’s plan administrator has announced the sale of FTX’s claims, paving the way for full recovery for clients and creditors. In a press release shared with crypto.news, BlockFi’s…
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FTX Co-Founders Nishad Singh And Gary Wang To Face Sentencing: Dates Announced
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The spectacular fall of the powerful FTX exchange founded by Sam Bankman-Fried (SBF) in November 2022 continues to wreak havoc in the crypto space. Nearly two years later, the legal reckoning is still underway as former FTX executives face corruption charges. Nishad Singh and Gary Wang Ready to face punishment…
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FTX Co-Founders Nishad Singh And Gary Wang To Face Sentencing: Dates Announced
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The spectacular fall of the powerful FTX exchange founded by Sam Bankman-Fried (SBF) in November 2022 continues to wreak havoc in the crypto space. Nearly two years later, the legal reckoning is still underway as former FTX executives face corruption charges. Nishad Singh and Gary Wang Ready to face punishment…
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Nishad Singh And Gary Wang, Former FTX Executives To Be Sentenced On Oct 20 And Nov 21
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Explosion FTX The infamous FTX scandal, in late 2022, was a watershed moment in the crypto world, with the exchange’s founder, Sam Bankman-Fried, at the center of the controversy. Nishad Singh, the former director of engineering, and Gary Wang, the former CTO, were key members of FTX’s executive team and…
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Nishad Singh And Gary Wang, Former FTX Executives To Be Sentenced On Oct 20 And Nov 21
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Explosion FTX The infamous FTX scandal, in late 2022, was a watershed moment in the crypto world, with the exchange’s founder, Sam Bankman-Fried, at the center of the controversy. Nishad Singh, the former director of engineering, and Gary Wang, the former CTO, were key members of FTX’s executive team and…
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FTX Creditors Filed an Objection against Bankruptcy Reorganization Plan
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A group of creditors of the now-collapsed FTX have moved to court, objecting to the cryptocurrency exchange’s bankruptcy reorganization plan, which would pay unsecured creditors the full amount of their claims, if not more. Formal objection from FTX creditors A group led by Sunil Kavori, one of FTX’s creditors, filed…
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FTX Creditors Rejected Bankruptcy Reorganization Plan
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Creditors of bankrupt cryptocurrency exchange FTX have filed an objection to the platform’s proposed reorganization plan, citing its failure to meet certain requirements of the bankruptcy code. according to tweet By FTX creditor activist Sunil Kavori, the objection argues that the reorganization plan ignores equity issues, does not meet the…
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FTX Settles $24 Billion Tax Dispute with Internal Revenue Service
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FTX has reached a settlement with its largest creditor, the Internal Revenue Service (IRS). This agreement resolves a major $24 billion tax dispute that has been looming over the stock exchange’s restructuring process. Initially, the IRS claimed that FTX owed more than $44 billion in taxes, but that amount was…
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FTX Offloads Remaining Anthropic Shares In $450 Million Sale
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Bankrupt FTX has been involved in several asset divestments over the past year, as it seeks to fully compensate former clients of the now-defunct exchange. In the latest development in the ongoing proceedings, the company has sold the final portion of its shares in artificial intelligence startup Anthropic. FTX earns…