Tag: FTX

Prosecutors Defend Nishad Singh Saying He Provided ‘Substantial Assistance’ in FTX Investigation

“Singh also brought to the Government’s attention criminal conduct that the Government was not aware of and, in some cases, may have never discovered but for Singh’s cooperation. That included information about Bankman-Fried and [Ryan] Salame engaging in one of the largest-ever campaign finance schemes, and instances when Bankman-Fried manipulated FTX’s financials to make its revenue appear greater,” it stated. Source

Is Microstrategy’s Bitcoin Leverage a Bigger Threat Than FTX? Vinny Lingham Suggests It’s Possible

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Earlier this week, the well-known entrepreneur and investor Vinny Lingham, originally from South Africa but now based in the U.S., sparked a conversation on X by sharing his thoughts about Microstrategy. This company holds an enormous amount of bitcoin on its balance sheet. Lingham suggested that Microstrategy could potentially cause harm to bitcoin, possibly even […] Original

FTX cash repayment plan approved by bankruptcy judge

FTX’s bankruptcy plan to repay customers in cash plus interest was approved by a Delaware judge, despite a push for in-kind reimbursements. Judge John Dorsey of the U.S. District of Delaware Bankruptcy Court ruled in favor of FTX’s repayment, which could distribute up to $16 billion worth of recovered assets. Two years after the crypto exchange collapsed, 98% of creditors were approved to receive 118% of their claims in cash. While 94% of claimants supported the plan, Sunil Kavuri, a spokesperson for the largest FTX creditor community, argued for cryptocurrency…

Bitcoin hits 62k as FTX token, Beam, Shiba Inu soar after US adds 254k jobs in September

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Bitcoin and other altcoins held steady after the Bureau of Labor Statistics published encouraging September nonfarm payrolls data. US nonfarm payrolls rebound Bitcoin (BTC) rose slightly to $62,500 while Solana (SOL) jumped by 3% to $140. FTX Token (FTT) was the best top-100 cryptocurrency as it jumped by 20%. It has risen by over 80% from its lowest level this month. Shiba Inu (SHIB), the second-biggest meme coin in the industry, was the second best-performing currency, rising by 10%. The other top performers were AAVE (AAVE), Beam (BEAM) and Celestia…

Caroline Ellison Shouldn’t Go to Jail After FTX Collapse, Attorneys Say

Ellison’s diary entries – a select few pages anyway – also lay out her thought process during her time at Alameda, describing her mood, how work and her relationship with Bankman-Fried affected her and her thoughts on how to improve her life (taking a day off work, going outside, keeping in touch with friends and reducing her Adderall dosage, among other possible remedies). Source