It added, “[That includes] statements about the identity, testimony, or credibility of prospective witnesses, information that has not been deemed admissible at trial, and statements intended to influence public opinion regarding the merits of this case.” Source
This week, the United States Securities and Exchange Commission (SEC) hinted at exploring other legal avenues after Judge Torres ruled that XRP is not a security. Meanwhile, the FTX saga had some surprising revelations. Despite this, regulatory efforts remained in the spotlight amid increasing crypto adoption. SEC may appeal the XRP court’s ruling Following Ripple’s win against the SEC, lawyer Marc Fargel expressed skepticism about the court’s ruling. In his view, the ruling could question the watchdog’s arguments on secondary market trading of assets, including crypto. He predicted possible appeals from both…
The United States Department of Justice (DoJ) filed a complaint against FTX founder Sam Bankman-Fried (SBF), accusing him of leaking the private papers of Caroline Ellison, who was once his business ally and romantic partner. In a new complaint filed on July 20, the DoJ accused Bankman-Fried of an attempt to interfere with a fair trial by publicly discrediting Ellison, who became a government witness in SBF’s case in late 2022. SBF sought to publicly discredit a government witness by sharing her personal writings with a reporter so that those…
According to the filing, FTX issued more than $725 million worth of equity to Bankman-Fried, former CTO and Co-Founder Gary Wang, Director of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. Of this $725 million, $447.8 million allegedly went to Singh, and the lawsuit documents how it was recorded as a loan between Singh, trading arm Alameda and FTX. Source
“The defendant’s actions—sharing personal writings of Caroline Ellison’s with a New York Times reporter—implicate the core concern of Rule 23.1 that disseminating material related to the “testimony or credibility of prospective witnesses” presumptively involves a substantial likelihood or prejudice to a fair trial and the due administration of justice,” the U.S. Attorneys wrote. Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Lawyers of the defunct crypto exchange, FTX, now argue that founder Sam Bankman-Fried commingled customer funds for “personal aggrandizement” to garner influence for himself. FTX targets life science investments According to court documents filed by FTX attorneys on July 19, customer funds worth $71.5 million transferred to Sam Bankman-Fried’s Life Science-focused NGO qualifies as recoverable assets and should be clawed back. FTX lawyers wrote to a bankruptcy court that Bankman-Fried’s “sham non-profit organization” Latano and the FTX Foundation…
FTX has sued former CEO Sam Bankman-Fried and several other former key executives from the now-bankrupt crypto exchange to recover more than $1 billion in misappropriated funds. A July 20 complaint filed in a United States Bankruptcy Court named former Alameda Research CEO Caroline Ellison, FTX co-founder Zixiao “Gary” Wang, former FTX engineering director Nishad Singh and Bankman-Fried as defendants. In the lawsuit, FTX claimed the defendants breached their fiduciary duties by allegedly misappropriating customer funds on a “continuous basis to finance luxury condominiums, political and ‘charitable’ contributions, speculative investments and…
FTX’s efforts to claw back customer funds are continuing. Alameda Research and FTX filed suit on July 19 seeking the return of $71.6 million in allegedly commingled corporate and customer funds related to investments and donations to life sciences companies. The defendants in the suit are six life sciences companies, the FTX Foundation philanthropical organization, the Latona Biosciences Group “sham” nonprofit, former FTX CEO Sam Bankman-Fried, FTX Foundation head Nicholas Beckstead and Latona head Ross Rheingans-Yoo. The suit claims that the FTX Foundation and Latona donated or invested funds in…
Terraform Labs is seeking permission from a judge to subpoena data from bankrupt crypto exchange FTX, claiming the information could help its defense against a lawsuit brought by the United States Securities and Exchange Commission in February, a court filing shows. In a search for evidence that could back its defense from fraud charges, Terraform’s lawyers filed a motion on July 19 in FTX’s bankruptcy case to access the company’s information about digital wallets used by short sellers between March and May 2022. Terraform claims its stablecoin failure was a…
Mossab Hussein, co-founder of cybersecurity firm Spidersilk, said the surprising emails can be attributed to one of two options: “It’s either FTX itself sending those emails [to notify them of the claims portal] and giving people a scare. Or, someone has “a list” of emails and is bruteforce resetting their credentials via the portal.” Source