Tag: FTX

FTX Customer Funds Recovery Go On while FBI Storms Former FTX Executive Ryan Salame’s House

According to a Guardian report, the defunct exchange FTX has already recovered $7.3bn of customer funds Agents of the FBI have raided former FTX executive Ryan Salame’s house in Maryland as FTX customer funds recovery continues. While it wasn’t clear why, two unnamed sources noted that Salame’s lawyer had volunteered information about campaign finance activities before the search. Since the FTX collapse, the case has been building quietly. However, it seems that prosecutors are looking to build their case against the company further by focusing on its political ties. In…

Former FTX exec Ryan Salame’s home searched by FBI: Report

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The home of former FTX co-CEO Ryan Salame has reportedly been searched by the Federal Bureau of Investigation (FBI) as further scrutiny falls on the executive for his close advisory role to Sam Bankman-Fried. An April 27 report from The New York Times, citing people with knowledge of the matter, said the Bureau searched Salame’s $4 million home in Potomac, Maryland on the morning of April 27. It remains unclear what the authorities were looking for. Salame was the co-CEO of FTX Digital Markets, which was FTX’s Bahamas-based subsidiary. The…

‘The war room was despondent’ — Scaramucci recounts FTX collapse at Consensus

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On April 27, Skybridge founder Anthony Scaramucci revealed what the final days of FTX were like, claiming that most employees of the failed crypto exchange probably didn’t know what its executives were doing behind closed doors until it was too late. In a panel discussion called “FTX: What Happened?” at Consensus 2023, Scaramucci gave a detailed narrative of what happened from his perspective. The Skybridge founder said he remembers hearing that FTX CEO Sam Bankman-Fried had commented negatively about Binance CEO Changpeng Zhao, also known as “CZ.” Scaramucci claimed that…

Celsius creditors demand transparency on ‘suspicious’ FTX transactions

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Celsius creditors claim that some FTX users have engaged in suspicious trades that may have manipulated the price of the Celsius (CEL) token in 2022. The creditors are seeking the help of a bankruptcy judge to unmask the users in question. Represented by a committee, creditors of Celsius Network have requested permission from a bankruptcy judge to issue subpoenas to FTX, seeking information on users associated with ten cryptocurrency wallets that were allegedly involved in suspicious trades of Celsius’ CEL coin between April and August. The creditors believe that the…

Bankrupt Crypto Firm FTX Finally Agrees to Sell Its Derivatives Platform LedgerX for $50M

FTX got the nod earlier this year to sell some of its business units. The FTX exchange has now reached an agreement to sell its crypto derivatives platform LedgerX in a deal worth about $50 million. According to a Reuters report, FTX has agreed sale terms with an affiliate of Miami International Holdings Inc. However, the sale is still subject to approval from the US court overseeing FTX’s bankruptcy proceedings. To this end, a sale hearing has been slated for May 4, and hopefully, the exchange will be able to…

FTX sells LedgerX for $50M to affiliate of Miami-based exchange holding company

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FTX announced that it has entered into a purchase agreement with an affiliate of Miami International Holdings to sell its futures and options exchange and clearinghouse LedgerX.  FTX said in a statement that the total proceeds of the transaction would total about $50 million. The deal still requires the approval of the United States Bankruptcy Court for the District of Delaware. A hearing on the deal is set for May 4. FTX stated it reached a deal with M7 Holding, a family private equity investment firm based in Akron, Ohio.…