Tag: FTX

DOJ readies witnesses in Bankman-Fried trial, highlights FTX asset management

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The Department of Justice (DOJ) has confirmed its intention to summon former FTX clients, investors and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX CEO. The DOJ submitted a letter motion in limine on Sept. 30 describing the witnesses it intends to call concerning FTX’s treatment of customer assets. The testimonies intend to provide perspectives on the interactions between the accused and the witnesses. It also aims to get the witnesses’ understanding of Bankman-Fried’s remarks and conduct, particularly regarding FTX’s asset management. The DOJ intends…

FTX Customers, Investors Will Testify Against Sam Bankman-Fried, DOJ Says

“To obtain likely less than 30 minutes of testimony from overseas FTX customer witnesses, however, requires, for at least some countries, coordinating with local authorities, arranging multi-day travel itineraries to accommodate varying time changes and travel delays, and incurring significant costs associated with such arrangements. Notwithstanding those hurdles, the Government is in the process of arranging for some overseas FTX customers to travel to New York to testify,” the letter said. Source BankmanFriedcustomersDoJFTXInvestorsSamTestify CryptoX Portal

FTX Exploiter Transfers 5,000 ETH Ahead of Ether Futures ETF Launch

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Some 5,000 ETH, worth over $8.2 million, have been moved from a wallet address associated with the FTX hacker. This development marks the first time assets have been transferred out of the hacker’s wallet following the exploit about a year ago. FTX Hacker Moves 5,000 ETH, Spot On Chain Reveals Marked as one the biggest crypto heists ever, the now-defunct FTX exchange suffered a loss of over $600 million through an hack in November 2022, a few hours after filing for bankruptcy.  According to the on-chain analytics platform Spot On…

FTX hacker’s wallet stirs as Ethereum ETFs prepare for US debut

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Almost a year after the FTX hack of $600 million in tokens, on-chain data revealed recent activity in the perpetrator’s wallet, identified as 0x3e957, on Saturday, Sept. 30, 2023. This is occurring closely to the launch of Ethereum-based ETF in the United States. Based on on-chain data from Spot On Chain, the exploiter recently activated their address after a prolonged period. Presently, the wallet contains a substantial sum of $16.75 million of Ether (ETH). FTX Exploiter 0x3e957 just moved 2500 $ETH ($4.2M) to new addresses This is the first time the…

Coinbase Listing Crypto Perpetuals May Fill the Gap Left by FTX Implosion

“Regarding Coinbase, I do think that it’s well positioned to capture significant market share,” Carey said. “Given Binance’s recent troubles it stands to reason that larger traders and institutions may be skittish to hold significant funds on the exchange. On the other hand, Coinbase is one of the most trusted exchanges, which sets them up nicely.” Original Source CoinbaseCryptoFillFTXGapImplosionLeftListingPerpetuals CryptoX Portal

FTX founder to stand trial over 6 weeks

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Former FTX CEO Sam Bankman-Fried will spend at least 21 days in court as part of his criminal trial, which will begin in earnest on Oct. 4 and last until Nov. 9, according to a newly released trial calendar posted to the public court docket. The burgeoning trial calendar, released on Sept. 28, begins on Oct. 3 with jury selection. The first official date of the Bankman-Fried trial is Oct. 4, where they will begin discussing seven fraud charges laid against him. There are two substantive charges where the prosecution must…

Here’s FTX Founder Sam Bankman-Fried’s Trial Schedule

During a hearing earlier Thursday, Judge Lewis Kaplan, who is overseeing the trial, asked the prosecution and defense to estimate how long they expect their respective cases to last. Assistant U.S. Attorney Danielle Kudla said the Department of Justice estimated their case taking four to five weeks. Mark Cohen, representing Bankman-Fried, said the defense’s case was more streamlined and — if the defense chooses to present a case — they could take up to a week and a half. Source

FTX Founder Sam Bankman-Fried Can Use an ‘Air-Gapped’ Laptop in Court, Judge Rules

The defense team has already lost two bids to have Bankman-Fried temporarily released since he was remanded, but has made another attempt, offering to impose strict conditions around the onetime FTX executive. Judge Kaplan set a 5:00 p.m. ET deadline today for the Department of Justice to comment on the request and scheduled a hearing to discuss the motion at 10:00 a.m. ET on Thursday. Source