Some of these victim impact statements also appear to follow a form letter format, with recipients substituting their account values at the time of bankruptcy, the value as of when the letters were filed and the loss amounts. Many of the letters, both the templated versions and others, emphasized the loss of value from waiting for their funds. Source
According to court documents filed in New York on Jan. 29, Attestor, through a wholly-owned subsidiary called Svalbard Holdings Limited, made an agreement with a Panamanian company, Lemma Technologies, to purchase the accounts – worth a combined $166 million at the time of FTX’s collapse – in June 2023, after placing the highest bid at an auction organized by Lemma Technologies in May 2023. Source
In a statement from U.S. Attorney Damian Williams and his team, the fallen FTX founder, Sam Bankman-Fried (SBF), faces a recommendation for up to half a century behind bars for his offenses. The prosecutors argue that SBF has a penchant for high-stake risk and “gambling repeatedly with other people’s money.” SBF’s Path From Finance Tycoon […] Source CryptoX Portal
The firm is floating the Pantera Solana Fund to investors, stating it has an opportunity to buy up to $250 million of SOL tokens at a 39% discount below a 30-day average price of $59.95, Bloomberg said, citing documents sent to potential investors last month. Source
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By Enoch Mutembei As the sentencing date for Sam Bankman-Fried, the former FTX CEO, approaches, a plea for clemency has emerged from an unexpected source – his own family. In a recent filing to the United States District Court for the Southern District of New York, SBF’s lawyers submitted 29 letters of support, including heartfelt recommendations from his mother, father, and brother. Barbara Fried, Joseph Bankman, and Gabriel Bankman-Fried, the mother, father, and brother of the 31-year-old former CEO, all penned letters to Judge Lewis Kaplan, shedding light on SBF’s…
In January 2024, the FTX estate said it expects to fully repay its customers. Sam Bankman-Fried, the former FTX boss, is due to be sentenced next month after being found guilty of fraud last year, with his prison duration expected to be hotly contested. Source
Tyr investor TGT has brought claims against the hedge fund that it ignored several warnings over its ties with FTX. Source
Creditors of bankrupt crypto exchange FTX have filed a class-action lawsuit against a global law firm providing legal counsel to the former digital asset empire. In a new court filing submitted on February 16th, FTX creditors allege Sullivan and Cromwell (S&C) engaged in civil conspiracy, aiding and abetting fraud, aiding and abetting fiduciary breach and violation of federal laws against racketeering. The New York City-based law firm is overseeing the FTX bankruptcy proceedings and assisted the exchange in several deals, including the acquisition of the crypto derivatives platform LedgerX. The…
WLD’s rise has apparently come after AI developer OpenAI’s launch of a text-to-video generator, Sora, last week. Worldcoin’s parent company and OpenAI share the same founder, Sam Altman, and crypto traders are likely considering WLD a bet on the latter’s successes. Source