Tag: FTX

Former FTX Executive Caroline Ellison’s Sentencing Hearing Set for Sept. 24

“Ms. Ellison has been the focus of intense media scrutiny and Internet fascination since the outset of this case, including from Sam Bankman-Fried’s repeated efforts to release Ms. Ellison’s private information to the media,” the filing said. “Because Ms. Ellison’s friends should not be subject to harassment and doxing because they have written to the Court, Ms. Ellison seeks leave to redact their names and other identifying information from the publicly filed version of the letters and her sentencing memorandum.” Source

Prosecutors Tell NY Court They Didn’t Renege on FTX Exec Ryan Salame’s Plea Deal

In their memo, prosecutors called Salame’s assertions “inaccurate, incomplete, and outright false” and denied that they breached their plea agreement with Salame, noting that there was “nothing in Salame’s plea agreement that suggested that the U.S. Attorney’s Office for the Southern District of New York would not criminally prosecute any of Salame’s criminal co-conspirators in consideration of his guilty plea.” Source

US Court Orders Bankrupt Crypto Exchange FTX To Pay $12,700,000,000 to Former Customers and Fraud Victims

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A US court has ordered bankrupt crypto exchange FTX to pay $12.7 billion in monetary relief to customers who suffered losses when the company collapsed in 2022. In a new statement, the Commodity Futures Trading Commission (CFTC) says the order requires FTX to pay $8.7 billion in restitution and $4 billion in disgorgement to further compensate those who fell victim to the exchange’s fraudulent scheme. In December 2022, the CFTC filed a fraud complaint against FTX, its founder Sam Bankman-Fried, and former company executives alleging that they misappropriated customer funds…

US Court Orders FTX and Alameda to Pay Fraud Victims $12.7 Billion in Historic CFTC Recovery

A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of Enforcement, emphasized that this multibillion-dollar recovery is the largest recovery in CFTC history. FTX and Alameda Ordered […] Source CryptoX Portal

Bitcoin MVRV Lowest Since FTX Crash, Signal To Buy?

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On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) ratio has observed a plunge alongside the latest price crash. Bitcoin 30-Day MVRV Ratio Is Now At Lowest Levels Since FTX Collapse As explained by analyst Ali Martinez in a new post on X, the 30-day MVRV ratio has just gone through a sharp drop. The “MVRV ratio” refers to a popular on-chain indicator that, in short, tells us about how the value held by the Bitcoin investors (that is, the market cap) compares against the capital put in…