Tag: FTX

Former FTX Legal Advisor Fenwick & West Settles Lawsuit for $54M

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Fenwick & West LLP, the principal law firm that advised former cryptocurrency exchange FTX, agreed on Friday to pay $54 million to settle a 2023 class action lawsuit, filed by former customers of the defunct exchange. The plaintiffs allege that Fenwick “facilitated FTX’s fraud” by playing “a key and crucial role in the most important aspects of why and how the FTX fraud was accomplished,” according to the original complaint.  Plaintiffs argue that the Silicon Valley law firm helped the now-bankrupt FTX obscure the misuse of customer funds by creating…

FTX Victims Sue Law Firm Fenwick & West For $525M Over Alleged Role In Collapse

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A group of 20 victims from five countries or jurisdictions has filed a $525 million lawsuit against Fenwick & West LLP, one of Silicon Valley’s top tech law firms, accusing it of helping conceal the FTX fraud. The complaint, filed Wednesday in the US District Court for the District of Columbia, names the firm alongside six individual defendants. The plaintiffs say they lost their life savings when FTX collapsed, claiming that Fenwick’s involvement gave the exchange a false air of legitimacy that kept them from pulling their money out. At…

FTX estate misses out on $3B Cursor stake value after $200K sale in 2023

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The FTX estate sold its Cursor stake for $200K in 2023, now worth $3B after a SpaceX-linked valuation surge, raising questions about bankruptcy asset sales. The FTX bankruptcy estate sold a 5% stake in AI coding startup Cursor for $200,000 in April 2023, missing out on roughly $3 billion after the company was valued at $60 billion in a SpaceX-linked deal this week. On Wednesday, SpaceX said it has secured the right to acquire Cursor later this year at a $60 billion valuation, or alternatively pay a $10 billion breakup…

Sam Bankman-Fried Drops New Trial Motion as FTX Portfolio Hypothetical Goes Viral – Bitcoin News

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Key Takeaways: Sam Bankman-Fried (SBF) withdrew his Rule 33 new trial motion on April 22, 2026, without prejudice, preserving the right to refile after his Second Circuit appeal concludes. Viral social media posts estimating FTX’s unliquidated portfolio would be worth $114 billion today, led by a 165x gain on Anthropic. SBF’s appeal and reassignment request before Judge Kaplan remain active, leaving the legal outcome of the FTX case unresolved through at least 2026. SBF Withdraws Rule 33 Motion in SDNY, Preserves Right to Refile After Appeal The withdrawal letter, docketed…

XRP 1-Year MVRV Falls To -41%, Lowest Since FTX Crash

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Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started…

Former FTX Crypto Engineer Nishad Singh Fined $3.7M by CFTC, Avoids Prison

Nishad Singh, the former Director of Engineering at FTX crypto and FTX US, has been ordered by the Commodity Futures Trading Commission (CFTC) to pay $3.7 million in disgorgement under a supplemental consent order finalized on April 1, 2026 – resolving the agency’s civil enforcement action stemming from his role in the $8 billion-plus customer fund misappropriation that precipitated FTX’s November 2022 collapse. Singh, who pleaded guilty to federal criminal charges and cooperated extensively with the Department of Justice (DOJ), avoided a custodial sentence at his criminal proceeding, and the…

Former FTX Engineer Nishad Singh Fined $3.7M in CFTC Fraud Case

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Nishad Singh, the former head of engineering at FTX, will pay $3.7 million to resolve his case with the US commodities regulator over his alleged role in the collapse of the crypto exchange and the misappropriation of user funds. As part of the supplemental consent order, Singh will be required to pay a disgorgement of $3.7 million and imposes a five-year ban on trading in markets and an eight-year registration ban, blocking him from obtaining a license to operate in the sector, the US Commodity Futures Trading Commission (CFTC) said…

CFTC Finalizes Settlement With Former FTX Engineer, Imposes $3.7M Disgorgement – Regulation Bitcoin News

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Court Order Concludes CFTC Case Against FTX’s Former Head of Engineering The U.S. derivatives regulator took enforcement action against a former crypto executive as part of a broader fraud case. The Commodity Futures Trading Commission (CFTC), an independent federal agency overseeing U.S. derivatives markets, announced on April 1 that it resolved its action against former FTX head of engineering Nishad Singh, outlining penalties and ongoing obligations. The filing details: “The order imposes disgorgement of $3.7 million, requires Singh to continue cooperating with the Commission, and imposes a five-year trading ban…

FTX Recovery Trust Announces Fourth Round of Creditor Repayments

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The FTX Recovery Trust, which oversees the distribution of funds to creditors and former customers of the failed crypto exchange, announced on Wednesday that it will distribute $2.2 billion to creditors on March 31, 2026. Eligible creditors will receive their funds through their chosen distribution provider within one to three business days, according to an announcement from the Trust.  The fourth distribution includes a 18% payout for Dotcom Customer claims, a 5% distribution for US Customer Entitlement Claims and a 15% distribution for both General Unsecured Claims and Digital Asset…

BITCOIN & ALTCOIN RELIEF RALLY STARTS AS JANE STREET CRYPTO MANIPULATION GETS EXPOSED!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Crypto News: Bitcoin and altcoins see upside in price as Terraform sues Jane Street and market manipulation gets exposed. Ethereum unveils new ‘Strawmap’ roadmap adding private ETH transactions, quantum-proof security, and massive L2 scaling. Tether invests $200 million in digital marketplace Whop to expand stablecoin payments. Brought to you by ✅ VeChain is a versatile enterprise-grade L1 smart contract platform 💡Get the (Re)Thinking Crypto Book on Amazon – 🖥️ Learn Crypto with Expert Commentary – Sponsors: 🔐 Safely Store your Crypto with…