Tag: FTX

Crypto Hedge Fund Galois Capital Is Latest Victim of FTX Collapse

As per reports, Galois Capital has nearly $100 million worth of funds stuck with the crypto exchange FTX. The contagion of FTX’s collapse last year in November 2022 continues to spread across the crypto market. Crypto hedge fund Galois Capital has become the latest victim of the FTX collapse. As per the details, Galois Capital has decided to shut down with nearly 50% of the total trapped on FTX. The crypto hedge fund said that it would be returning the rest of the funds to its customers. In the documents seem…

Hedge fund closes operations after losing funds in FTX exchange: Report

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Hedge fund Galois Capital, one of the victims of the FTX collapse, has thrown in the towel after half of its assets got trapped in the bankrupt exchange. The fund has finally decided to shut down and return its remaining assets to investors.  On Nov. 12, the hedge fund admitted in an announcement from its official Twitter account that it had significant exposure to the FTX exchange. For the record, yes we did have significant funds stuck on FTX. No, we did not use any Bahamian method to move funds…

Former FTX Executive Nishad Singh To Plead Guilty to Fraud Charges Related to Exchange Collapse: Report

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FTX’s former director of engineering is reportedly planning to plead guilty to fraud charges related to the crypto exchange platform’s high-profile downfall. According to a new report by Bloomberg, Nishad Singh is currently working out a plea deal with prosecutors that would have him plead guilty to fraud charges and possibly join forces with authorities against Sam Bankman-Fried, the firm’s former CEO and disgraced founder. If Singh were to ink a deal with the prosecutors, he would be the third member of Bankman-Fried’s inner circle who cut deals with authorities…

FTX Warns Community of Phony ‘Debt Tokens’ and Scams Claiming to Be Affiliated With the Bankrupt Exchange – Bitcoin News

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On Friday, debtors who control the official FTX Twitter account warned the community to “be on alert for scams from entities claiming to be affiliated with FTX.” They also noted that neither FTX debtors nor any entity related to the company has issued any IOU crypto assets or “debt tokens.” The alert comes as a token called “FUD (FTX User’s Debt)” has been circulating on the Tron blockchain and is listed on Huobi. FTX Debtors Leverage Official Twitter Account to Inform Community FTX debtors who control the official FTX Twitter…

Former FTX Director of Engineering Nishad Singh Negotiating Plea Deal with Prosecutors  – Bitcoin News

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Another member of Sam Bankman-Fried’s inner circle allegedly plans to plead guilty to criminal charges for his role in the alleged fraud that occurred at the cryptocurrency exchange FTX. According to unnamed sources familiar with the matter, Nishad Singh, FTX’s former director of engineering, is attempting to negotiate a deal with New York prosecutors. Sources Say Former FTX Director of Engineering Nears Plea Deal, Singh Could Provide Critical Testimony On Friday, Bloomberg reporter Allyson Versprille reported that Nishad Singh, the former director of engineering at FTX, is negotiating a deal…

Former FTX exec will plead guilty to federal charges with a deal: Report

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Nishad Singh, the co-founder and former chief engineer of bankrupt crypto exchange FTX, is working on a plea deal with prosecutors, Bloomberg reported on Feb. 17. The deal, which would see the 27-year-old Singh plead guilty to charges related to FTX’s collapse, has yet to be finalized, the report said. Singh would be following in the footsteps of former FTX chief technology officer Gary Wang and former Alameda CEO Caroline Ellison, who pleaded guilty to federal fraud charges in December after reaching deals with prosecutors. Former FTX CEO Sam “SBF” Bankman-Fried…