Day: June 28, 2023

FTX sues Dan Friedberg alleging he used ‘hush money’ to silence whistleblowers

boss

FTX has filed a lawsuit against a former regulatory and compliance executive at the exchange, alleging he made a series of payments in attempts to prevent staff from blowing the whistle about issues at the exchange.  On June 27, FTX filed a lawsuit against Daniel Friedberg who held multiple roles including chief regulatory officer at FTX, chief compliance officer of FTX US and general counsel at Alameda Research. In the complaint, FTX claims Friedberg was a “fixer” for the exchange’s co-founder Sam Bankman-Fried who made “hush money” payments to two…

FTX suspends $500M sale of stake in AI firm Anthropic: Report

The sale of FTX’s $500 million stake in artificial intelligence startup Anthropic has reportedly been put on hold, adding a potential delay to the bankrupt crypto exchange’s efforts to fill a $2 billion remaining hole in its balance sheet. On June 27, Bloomberg reported — citing people familiar with the matter — FTX’s advisory investment bank Parella Weinberg Partners paused the sale of FTX’s Anthropic stake this month, despite multiple parties being interested in buying up FTX’s stake. A sale of the stake would be a significant monetary recovery for…

Bitcoin price surge will come from retail, not institutions: Fireblocks CEO

boss

While an approved BlackRock spot Bitcoin (BTC) exchange-traded fund (ETF) will funnel new institutional money to Bitcoin, it’s going to be the retail investors that ultimately drive any significant price surges, according to Michael Shaulov, the CEO and co-founder of institutional custody platform Fireblocks. On June 15, investment colossus BlackRock filed for a spot Bitcoin ETF, leading to other financial firms filing their own, along with Bitcoin’s price reaching its highest levels in a year. However, while many are hopeful that institutional involvement in crypto will further rocket prices, Shaulov notes…