Tag: FTX

Disgraced FTX Co-Founder Accused of Moving $684K in Crypto Assets While Under House Arrest – Bitcoin News

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According to an analyst on Dec. 29, 2022, the disgraced co-founder of FTX, Sam Bankman-Fried (SBF), may have cashed out $684,000 in crypto assets while under house arrest. If the funds were spent by SBF, it goes against the court’s release conditions that note the former FTX executive is not allowed to spend more than $1,000 without permission from the court. Analyst Discovers Funds Tied to SBF’s and Alameda’s Wallets Moved While the FTX Co-Founder Is on House Arrest On Thursday, an analyst called “Bowtiediguana” published a Twitter thread that…

FTX’s International Customers Lawyer Up, Ask Judge to Rule That Customer Assets Are Not Property of FTX Estate

“But when you dollarize – regardless of what digital asset it is, what form of asset it is – as of the petition date, that is essentially giving the debtors the power to liquidate whatever’s on the exchange and say, ‘This is what you get at the bottom of the market’,” Broderick said. “So it’s an important distinction, not just with respect to priorities and distribution timing, but it’s really important from a valuation standpoint.” Source

FTX Japan to Refund Customers & Shut Down Operations in Q1 2023

FTX Japan has created systems to refund crypto assets to customers after suspending withdrawals in the previous month. According to reports, FTX Japan looks to refund customers from February next year following the spectacular FTX crash. In a statement, the exchange’s Japanese subsidiary explained that it is developing a process that facilitates customer recovery of stuck assets.  Local crypto exchange Liquid Japan would be instrumental in this fund recovery phase. FTX had previously acquired Liquid Japan in an undisclosed deal in the spring.  The FTX Japan refund announcement read: “For the assets entrusted to…

Investors seek to sell FTX, Celsius, BlockFi, Voyager claims

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Instead of waiting for a lengthy bankruptcy process, some investors who have claims on FTX, Celsius Network, BlockFi and Voyager Digital are looking to pass on their claims to others.  Data from crypto claims trading startup Xclaim shows that there are at least hundreds of investors who have been affected by the recent collapses of crypto platforms FTX, Celsius, BlockFi and Voyager who do not want to wait for a lengthy bankruptcy process that doesn’t guarantee that they will even be able to get anything. The investors have listed their…

FTX founder reportedly cashes out $684K after being released on bail

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FTX founder Sam Bankman-Fried is reportedly cashing out large amounts of cryptocurrency soon after being released on bail, on-chain data suggests. SBF has cashed out $684,000 in crypto to an exchange in Seychelles while being under house arrest, according to the on-chain investigation by DeFi educator BowTiedIguana. Decentralized finance (DeFi) analyst BowTiedIguana took to Twitter on Dec. 29 to report on a series of obfuscated wallet transactions allegedly linked to SBF, suggesting that the former FTX CEO could have violated release conditions to not spend more than $1,000 without permission…

Regulators in the Bahamas Are Holding $3.5 Billion in FTX Customer Assets

Shortly after FTX filed for bankruptcy, about $372 million worth of tokens were stolen from the exchange by an unknown actor thought to be an external hacker. Given media reports of a cyberattack on FTX, and possible looting of FTX-controlled wallets by former employees, the Commission said in its media statement it “determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of [FTX] to the prejudice of its customers and creditors.” Source

SBF met with Biden’s senior advisors 2 months before FTX collapse: Report

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Former FTX CEO Sam Bankman-Fried met with government officials at the White House on at least four separate occasions in 2022, one of which reportedly occurred just two months before the fall of his crypto empire. Most of the meetings were disclosed in visitor logs which are posted by the White House every month, showing that Bankman-Fried had met with Counselor to the President Steve Ricchetti on Apr. 22, 2022 and May. 12, 2022 along with another meeting on May 13 meeting with policy advisor Charlotte Butash However, according to…

Non-US FTX customers want private info redacted from bankruptcy filings

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A group of non-U.S. FTX customers are pushing to have their names and private information redacted from court documents as part of the crypto exchange’s Chapter 11 bankruptcy process. In a Dec. 28 joinder filing, the “The Ad Hoc Committee of Non-US Customers of FTX.com” (Ad Hoc Committee) stressed that publicly revealing the names and private information of customers runs the potential risk of identity theft, targeted attacks and “other injury.” “Requiring the Debtors to disclose the FTX.com customers’ names and other identifying information to the general public would cause…

Robinhood shares claimed by BlockFi and FTX may move to a neutral broker

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The highly disputed Robinhood shares claimed by both BlockFi and FTX  might be transferred to a neutral broker or an escrow account while the courts determine the rightful owner. Digital asset lender BlockFi recently sued former FTX CEO Sam Bankman-Fried to claim the shares that were supposedly pledged as collateral for the more than $600 million that BlockFi loaned to Alameda Research. The 56 million Robinhood Markets shares, which are currently frozen, are worth around $450 million. They are owned by Bankman-Fried’s holding company Emergent Fidelity Technologies, which was formed…