Tag: FTX

Smart Contract Token Market Soars to $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse – Defi Bitcoin News

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The smart contract token economy rose 5.6% against the U.S. dollar on Thursday, reaching $332 billion. Additionally, the value locked in decentralized finance (defi) increased to nearly $50 billion, a record high not seen since the collapse of FTX. Smart Contract Economy and Defi TVL Bounces Back On Thursday, Feb. 2, 2023, the top smart contract platform coin economy increased to $332.86 billion, a rise of 5.6% in the last 24 hours. Currently, roughly $20.44 billion in global trading volume is paired with smart contract tokens. Of the top ten…

New FTX documentary to spotlight SBF-CZ relationship

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The FTX saga and the developments that led to the crypto exchange’s collapse will be framed in a new documentary focusing on the volatile relationship between Sam Bankman-Fried and one of his fiercest critics, Binance founder Changpeng Zhao. According to The Hollywood Reporter, the production is a partnership between media outlet Fortune and Unrealistic Ideas, a non-scripted production company co-founded by American actor Mark Wahlberg, Stephen Levinson and Archie Gips. “The tumultuous relationship between SBF and CZ has played out to a certain extent in articles and on Twitter, but…

Why Venture Capitalists Won’t Be Punished for Investing in FTX

The list of FTX investors who in aggregate invested over $2 billion, and subsequently had to write it all off, spans an impressive “who’s who” of well-known investment firms, including NEA, IVP, Third Point Ventures, Tiger Global, Insight Partners, Sequoia Capital, SoftBank, Lightspeed Venture Partners, Temasek Holdings and BlackRock. Source CapitalistsFTXInvestingPunishedVentureWont CryptoX Portal

Federal judge bars SBF from contacting FTX and Alameda employees, using Signal

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A federal judge presiding over the criminal case against former FTX chief executive officer Sam Bankman-Fried has ordered he not have any contact with current or former employees of the exchange as part of his bail conditions. In a Feb. 1 ruling, Judge Lewis Kaplan of the Southern District of New York said Bankman-Fried was to be prevented from communicating with current or former employees of FTX or Alameda Research “except in the presence of counsel” in order to remain free on bail through his trial. As part of his…

Judge Bans Sam Bankman-Fried From Contacting FTX Employees and Using Signal

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FTX debtors seek subpoenas for inner circle of Sam Bankman-Fried

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As bankruptcy proceedings continue, FTX and affected parties have requested subpoenas for information and documents from close relatives of former CEO Sam Bankman-Fried. A motion filed in the United States Bankruptcy Court for the District of Delaware seeks to glean valuable information from the likes of Gabriel Bankman-Fried and Barbara Fried, the brother and mother of the FTX founder. According to the filing, FTX and its debtors are pursuing estate assets belonging to the company and investors. However, not all Bankman-Fried’s inner circle has replied with requests for information. The filing…

FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings – Bitcoin News

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FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials from the United States. FTX Lawyers Argue for Expelling Turkish Subsidiaries From Bankruptcy Proceedings According to a recent bankruptcy court filing, FTX debtors have submitted a motion to remove the company’s Turkish entities from the…

US lawmakers renew request for answers from Silvergate on FTX: Report

Several United States senators have reportedly penned a letter requesting answers from Silvergate Capital — the parent company of Silvergate Bank — related to the collapse of cryptocurrency exchange FTX. According to a Jan. 31 Bloomberg report, U.S. Senators including Elizabeth Warren, Roger Marshall and John Kennedy said Silvergate had not fully answered questions in response to a December letter about its alleged role in handling FTX user funds. Silvergate reportedly cited restrictions on disclosing “confidential supervisory information” — a rationale the senators said was unacceptable. “Both Congress and the…

Alameda Research Files $446M Loan Repayment Lawsuit against Voyager Digital in Ongoing FTX Fallout

Beleaguered crypto trading firm Alameda recently filed a lawsuit against defunct crypto broker Voyager over repaid loans.  Defunct crypto trading firm and FTX sister Alameda Research has hit bankrupt crypto broker Voyager Digital with a $446 million lawsuit. As it stands, Alameda seeks to recover the mammoth sum in repaid loans to the troubled digital asset manager. Alameda filed the lawsuit relating to loans against Voyager this month at the US Bankruptcy Court for the District of Delaware. According to the FTX sister firm, Voyager made these loans before its bankruptcy in…