“This is great, but it’s not entirely straightforward because a lot of the solana is locked,” Braziel said. “Some of it is being moved around, being staked and perhaps there are plans to explore selling some of it. Just like with Anthropic, it’s fantastic news, but the estate has to get liquid on this stuff.” Source
tktk Source
Federal prosecutors claimed Sam “SBF” Bankman-Fried “doubled down” on the use of customers’ funds when he purchased Binance’s $2 billion stake in FTX in 2021. According to U.S. government attorneys, Bankman-Fried paid for the buyout with funds from FTX customers. The prosecution is delivering its closing arguments on Nov. 1 at the Southern District Court of New York, where Bankman-Fried’s trial has been taking place since Oct. 3. Jurors in the case reportedly heard from Assistant U.S. Attorney Nicolas Roos: “The defendant had a choice: come clear or double down?…
FTX and the Case for Web3 YIMBYism Source
Millions of dollars worth of crypto assets have been moved out of official wallets linked to FTX and its trading firm Alameda in the past 24 hours, according to Spotonchain, as the bankrupt exchange labors under court supervision to salvage value and maximize its token holdings. Source
The new developments come after a court-mandated phased liquidation process, enabling FTX to sell digital assets worth a total of $3 billion on a weekly basis. A flurry of activity in the crypto space last night grabbed the attention of industry watchers as the wallets associated with bankrupt crypto exchange FTX and its sister company Alameda Research transferred around $13.1 million in various digital assets to multiple exchanges overnight. Data from Spotonchain revealed that the exchange sent a total of $8.12 million worth of cryptocurrencies to Coinbase including 46.5 million…
The crypto wallets linked to now-defunct crypto exchange FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous crypto exchanges early on Nov. 1. According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000). FTX and Alameda linked crypto deposit on Coinbase. Source: SOC The wallet addresses of FTX and Alameda Research made another $5.49 million…
Blockchain analytics firm Nansen has recently revealed that wallets associated with bankrupt crypto exchange FTX have transferred approximately $156 million worth of digital assets, including Ethereum (ETH) and Solana (SOL), in a series of transactions over the past week. The movement of these funds has raised concerns and attracted the attention of industry experts and investors. Nansen’s report sheds light on the ongoing transfers and provides valuable insights into the extent of FTX’s asset movements. Bankrupt FTX Wallets Unstake $57 Million Worth Of SOL Tokens According to the Nansen report,…
Sam Bankman-Fried (SBF), the founder of cryptocurrency exchange FTX, claims that spending clients’ fiat deposits was just part of “risk management” for his intertwined crypto hedge fund Alameda Research. During the former crypto executive’s court testimony on October 31, prosecutor Danielle Sassoon of the Southern District of New York asked SBF if he believed that it was permissible to spend $8 billion of FTX customers’ fiat money. “I thought it was folded into risk management,” he said. “As CEO of Alameda, I was concerned with their portfolio. At FTX, I…
The failed cryptocurrency exchange’s founder has so far tried to present an alternative explanation of how one of the world’s better-known trading platforms collapsed, suggesting it grew too quickly and without sufficient oversight or risk planning. However, prosecutors – led by Assistant U.S. Attorney Danielle Sassoon – have quickly sought to puncture that narrative, grilling Bankman-Fried about his involvement in FTX and its sister company Alameda Research, his public statements and whether he was permitted to use FTX customer funds, one of the key issues at the heart of the…