Breaking News: FTX – Market Insights, Analysis & Latest Updates

US seeks to recover crypto linked to Sam Bankman-Fried’s alleged China bribe

The DOJ aims to seize $17.9 million in cryptocurrency linked to Sam Bankman-Fried's alleged bribery of Chinese officials amid FTX's ongoing bankruptcy proceedings.

theblock.co • 13/11/2024 - 06:07 AM

FTX

Former Alameda co-CEO Sam Trabucco to forfeit $70 million and a yacht in proposed settlement with FTX bankruptcy estate

Sam Trabucco will forfeit $70 million in claims, two apartments, and a yacht in a settlement with bankrupt FTX, facilitating stakeholder value without litigation delays.

theblock.co • 11/11/2024 - 19:45 PM

The Daily: Bernstein says 'don't fight this' amid post-election crypto surge, MicroStrategy buys another $2 billion in bitcoin and more

Bernstein forecasts a crypto bull market post-Trump's election; MicroStrategy buys more Bitcoin; FTX sues Binance; Delta Prime faces security issues; user loses $25 million in a transaction error.

theblock.co • 11/11/2024 - 19:18 PM

BINANCE
FTX

FTX files $1.7 billion lawsuit against Binance and founder Changpeng Zhao

FTX sues Binance for $1.76 billion, alleging fraudulent transfers linked to the sale of shares amid insolvency and misleading statements from Binance's CEO Changpeng Zhao.

theblock.co • 11/11/2024 - 09:36 AM

FTX
LAWSUITS

Alameda Research sues Waves founder to claw back $90 million

Alameda Research has sued Waves founder Aleksandr Ivanov to reclaim $90 million deposited with Vires.Finance amid FTX bankruptcy. Multiple clawback lawsuits are ongoing.

theblock.co • 11/11/2024 - 07:12 AM

FTX

FTX sues exploiter who filed bankruptcy claim, Scaramucci, Storybook Brawl developers, and others to recoup funds

FTX has filed some 25 lawsuits seeking to claw back funds from various individuals that received funds from FTX, including Anthony Scaramucci, the team behind StoryBook Brawl, an exploiter who siphoned hundreds of millions of dollars from FTX, and the head of a bank that received a massive investment. The exploiter, despite allegedly profiting hundreds of millions of dollars from FTX while it was in operation, filed a bankruptcy claim with his personal information for $13 million stranded on the platform.

theblock.co • 09/11/2024 - 21:23 PM

CRIME
FTX

FTX co-founder Gary Wang seeks to avoid prison time ahead of sentencing

Gary Wang's lawyer argues against prison time, citing cooperation and ignorance of FTX fraud. Wang anticipates sentencing while managing personal challenges and his family's financial stability.

theblock.co • 06/11/2024 - 23:17 PM

FTX

US government seeks return of $13 million in political donations from former FTX executives

The U.S. government has been given more time to negotiate with certain political action groups over the return of up to $13.25 million in donations made in the names of former FTX executives Sam Bankman-Fried and Nishad Singh, a recent filing shows. The political groups in question are mostly Democrat-aligned and include the Senate Majority PAC, Emily’s List/Women Vote, and the Future Forward PAC, which received $6 million. Singh was recently sentenced to time served and three years of supervised release, allowing the former FTX engineering director to avoid prison time.

theblock.co • 01/11/2024 - 21:31 PM

CRIME
FTX

Former FTX exec Nishad Singh avoids prison time after cooperating with authorities in crypto exchange collapse: reports

Nishad Singh, FTX's ex-engineering director, avoids prison after pleading guilty to fraud, cooperating against Bankman-Fried, while FTX navigates bankruptcy and recovery for creditors.

theblock.co • 30/10/2024 - 20:18 PM

The Daily: Founders Fund invests in Infinex's Patron NFT sale, FTX agrees to drop its Bybit lawsuit and more

Peter Thiel’s Founders Fund was unveiled as an investor in Infinex’s new “patronage” fundraising model on Monday, as the sale officially closed, raising a total of $67.7 million. The FTX estate has settled its lawsuit with crypto exchange Bybit, its executives and its investment arm Mirana for $228 million, aiding upcoming creditor repayments. Solana’s leading web3 wallet Phantom, was hit with 2 hours and 45 minutes of downtime on Monday, leading to inaccurate account balances for users. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 28/10/2024 - 18:19 PM

Currency