What to expect at Caroline Ellisons sentencing hearing

The former Alameda Research CEOs lawyers have requested time served, and prosecutors seemed flattering in their sentencing memo, but what will Judge Lewis Kaplan say on Sept. 24?

View Details

US govt cites Caroline Ellisons extraordinary cooperation before sentencing

Lawyers representing the former Alameda Research CEO have requested time served and supervised release an outcome that appeared more likely after a filing by US Attorneys.

View Details

Former Alameda Research CEO Caroline Ellisons Attorneys Seek Leniency Ahead of Sentencing

Caroline Ellison's Sept. 24 sentencing will be the third significant judgment in the FTX scandal, after Ryan Salame and Bankman-Fried.

View Details

Ex-Alameda CEO was trying to prevent AI disaster former FTX employee

Caroline Ellison's ex-boyfriend, Sam Bankman-Fried, was sentenced to 25 behind bars for his role in the collapse of the FTX exchange. 

View Details

This Crypto Miner Backed By SBFs Alameda Research is Exploring IPO in US

Alameda Research invested over $1 billion into Genesis Digital Assets over several funding rounds.

View Details

Arkham: US Government Seizes $300M from Alameda Research Accounts

US Government seizes $300M from Alameda Research accounts on Binance and BinanceUS. (Read More)

View Details

FTX missed out on $500 million after selling Anyspheres Cursor AI stake for just $200K

Bankrupt FTX has missed out on nearly half a billion dollars in potential profit after liquidating its early stake in Anysphere, the company behind the fast-rising AI code editor Cursor. The now-defunct crypto exchange, through its trading arm Alameda Research, had invested $200,000 in Anysphere during its 2022 seed round. However, bankruptcy managers sold the […]

The post FTX missed out on $500 million after selling Anysphere’s Cursor AI stake for just $200K appeared first on CryptoSlate.

View Details

FTX addresses transferred $8.3M one day before amended proposal deadline

The transfer occurred a day before FTX debtors were set to release a new restructuring plan for the exchange.

View Details

Former FTX Exec Ryan Salame Sentenced to 7.5 Years in Prison

Salame was co-CEO of FTX Digital Markets, the crypto exchange's Bahamas-based subsidiary.

View Details

FTX has paid over $100M to lawyers and consultants handling its bankruptcy case

The FTX debtors said they had paid the 14 consultancy firms and the law firms handling its bankruptcy case over $100 million as of April 30, according to a May 30 court filing. Sullivan & Cromwell is top earner According to the filing, FTX paid law firm Sullivan & Cromwell (S&C) $39.58 million for its […]

The post FTX has paid over $100M to lawyers and consultants handling its bankruptcy case appeared first on CryptoSlate.

View Details

OKX sends bankrupt Alameda $8.3M in crypto assets

OKX sent $8.3 million in different crypto assets to Alameda Research over the past seven days, according to the Arkham Intelligence dashboard. The transfers, which happened in multiple transactions on May 29, saw the exchange send between $60,000 – $1.4 million worth of different cryptocurrencies to the bankrupt crypto firm. According to the dashboard, some […]

The post OKX sends bankrupt Alameda $8.3M in crypto assets appeared first on CryptoSlate.

View Details

OKX to Transfer $157 Million in Frozen Assets Linked to FTX and Alameda Research

<p> OKX, the second-biggest crypto trading platform by trading volume, has recently announced that it is preparing to transfer $157 million in frozen assets linked to the creditors of FTX and Alameda Research, companies of Sam Bankman-Fried's (SBF) fallen empire. This is a response to the newest motion filed on Wednesday in the FTX <a href="https://www.financemagnates.com/terms/b/bankruptcy/" class="terms__main-term" id="41b3ef0d-d805-441d-8443-121890264e94">bankruptcy</a> claim.</p><p>OKX Set to Return $157 Million of Frozen Assets Connected to FTX</p><p class="MsoNormal">Following the downfall of FTX in November 2022, OKX took the initiative to conduct thorough investigations regarding any potential FTX-related transactions that might have taken place on its platform. These investigations led to the discovery of accounts and assets linked to FTX and Alameda Research, which OKX promptly froze to secure the associated funds.</p><p class="MsoNormal">"OKX welcomes the motion and will continue to cooperate with the FTX debtors and law enforcement officials in the hope that these assets will eventually be returned to FTX users through the bankruptcy process," OKX stated in the press release.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">For <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw">#OKX</a>, doing right by crypto traders &amp; the industry is always a top priority.We did a proactive investigation when FTX collapsed and froze all associated assets &amp; accounts. Today, we are turning over USD157 MN in frozen FTX &amp; Alameda-related assets. Details ?</p>— OKX (@okx) <a href="https://twitter.com/okx/status/1641216557274521600?ref_src=twsrc%5Etfw">March 29, 2023</a></blockquote><p class="MsoNormal">FTX was one of the most prominent cryptocurrency exchanges, ranking among the top 10 platforms in terms of turnover. However, November brought a massive selloff of the platform's native token, FTT, and a capital outflow due to concerns regarding the stability of its ecosystem. </p><p class="MsoNormal"><a href="https://www.financemagnates.com/cryptocurrency/ftx-the-rise-the-fall-and-the-reaction/" target="_blank" rel="follow">This led to the collapse of FTX</a>, triggered the downturn of the broad digital asset market and contributed to the bankruptcy of more crypto-related companies. Meanwhile, SBF ended up behind bars, awaiting sentencing for embezzling billions of dollars. A few days ago, he was additionally accused of paying a $40 million bribe to Chinese officials.</p><p class="MsoNormal">Finance Magnates informed last week that FTX debtors <a href="https://www.financemagnates.com/cryptocurrency/ftx-debtors-agree-to-95m-sale-of-mysten-labs-stake/" target="_blank" rel="follow">agreed to sell Mysten Labs Inc. </a>preferred shares back to the Web3 startup for $96 million, according to the fillings at the U.S. Bankruptcy Court in Delaware.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">FTX locks in $96 million deal to sell Mysten Labs shares and SUI Token warrants.Originally acquired in August 2022 for $101 million. <a href="https://t.co/7PdfIM6uDT">pic.twitter.com/7PdfIM6uDT</a></p>— FTX 2.0pium (FTX Creditor) (@AFTXcreditor) <a href="https://twitter.com/AFTXcreditor/status/1638930052166348802?ref_src=twsrc%5Etfw">March 23, 2023</a></blockquote><p class="MsoNormal">The sale resulted in a loss as FTX's bankruptcy attorneys urgently sought to raise funds to reimburse the clients of the failed exchange. Not long ago, FTX's creditors greenlit the retrieval of $460 million from the venture capital firm, Modulo Capital, which had secured investments from Alameda Research the previous year.</p><p>OKX Opens New Offices in Hong Kong and Australia</p><p class="MsoNormal">The OKX crypto <a href="https://www.financemagnates.com/terms/e/exchange/" class="terms__secondary-term" id="b5da6e64-2afe-421d-9b81-16404b7d59d6">exchange</a> has not only informed about the $157 million transfer to debtors but also heralded the opening of its new office in Australia in the coming months. The disclosure was shared during an exclusive event for Australia's cryptocurrency enthusiasts at the Melbourne Arts Centre.</p><p class="MsoNormal">"Our ambition is straightforward – to become the leading crypto platform in the world. We see Australia as an indispensable part of this strategy and a key growth market. With such a strong uptake of crypto in Australia already, we're committed to the local market and aim to build a strong local office," Haider Rafique, the Chief Marketing Officer at OKX, commented.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">Celebrations in Melbourne are in full swing as <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw">#OKX</a> announced opening our office in Australia! ????Big s/o to OKX partners <a href="https://twitter.com/danielricciardo?ref_src=twsrc%5Etfw">@danielricciardo</a>, <a href="https://twitter.com/scottyjames31?ref_src=twsrc%5Etfw">@scottyjames31</a>, <a href="https://twitter.com/OscarPiastri?ref_src=twsrc%5Etfw">@oscarpiastri</a>, our team &amp; frens for joining the fun ?? <a href="https://t.co/m9rvVOmwYq">pic.twitter.com/m9rvVOmwYq</a></p>— OKX (@okx) <a href="https://twitter.com/okx/status/1641185085562007553?ref_src=twsrc%5Etfw">March 29, 2023</a></blockquote><p class="MsoNormal">Just a day earlier, the crypto exchange announced its plans <a href="https://www.financemagnates.com/cryptocurrency/okx-becomes-another-crypto-exchange-to-start-hk-branch/" target="_blank" rel="follow">to start a new branch in Hong Kong</a> amid the changing regulatory environment in China's special administrative region. The new set of crypto laws will take effect in June and have already encouraged a number of popular crypto brands to look for a local virtual asset service provider (VASP) license. </p><p class="MsoNormal">According to last week's news, <a href="https://www.financemagnates.com/cryptocurrency/hong-kong-to-start-regulating-crypto-in-june-2023-80-companies-wants-to-join/" target="_blank" rel="follow">more than 80 companies</a> are waiting in line to join the Web3 ecosystem forming in Hong Kong.</p><p class="MsoNormal">Saxo's Presents New Portal and JPX Gets into DeFi, read today’s <a href="https://www.financemagnates.com/forex/news-nuggets-30-march-saxos-new-portal-jpx-gets-into-defi/">news nuggets</a>.</p> This article was written by Damian Chmiel at www.financemagnates.com.

View Details

FTX Update: OKX Returns Frozen Assets, While Ex-CEO Faces Legal Hurdles

OKX, the second-largest crypto exchange, has announced that it will turn over approximately $157 million in frozen assets related to FTX and Alameda Research to debtors in response to a motion filed today in the FTX bankruptcy proceedings. The move comes after OKX initiated investigations following FTX’s collapse in November 2022 to determine whether there had been […]

View Details

Pantera Capital Eyes $250 Million Opportunity with FTX Estate for SOL: Report

Sam Bankman-Fried was a big supporter of Solana and had previously amassed a huge amount of SOL tokens.

View Details

FTX, Alameda Settle with BlockFi, Set to Pay $874 Million

The agreement reached with FTX and Alameda Research plays a pivotal role in BlockFi's bankruptcy and reorganization strategy.

View Details

FTX and Alameda Reach $874M Settlement with BlockFi Amid Bankruptcy Proceedings

FTX and Alameda have agreed to an "in principle" settlement with BlockFi, potentially paying up to $874 million, marking a significant development in the ongoing bankruptcy saga. (Read More)

View Details

BlockFi customers could receive $250 million ahead of other creditors in FTX settlement

Settlement filing reveals BlockFi customers might get early payouts from $250 million secured claim against FTX and Alameda Research.

View Details

BlockFi Settles With FTX, Alameda Estates for $874.5M

The settlement with FTX and Alameda Research is a key part of BlockFi’s bankruptcy and reorganization plan.Source: CoinDesk

The post BlockFi Settles With FTX, Alameda Estates for $874.5M appeared first on Crypto Breaking News.

View Details

FTX CEO Disputes Sam Bankman-Frieds Claims of Solvency and No Harm to Creditors

John J. Ray III, the chief executive officer of FTX Trading Ltd., has issued a strong rebuttal against former CEO Sam Bankman-Frieds assertions regarding the companys financial state and the impact on its creditors. FTX Chief Restructuring Officer and CEO Debunks Bankman-Frieds FTX Solvency Claims John J. Ray III outlined the extensive efforts made to [...]

The post FTX CEO Disputes Sam Bankman-Frieds Claims of Solvency and No Harm to Creditors appeared first on Crypto Breaking News.

View Details

Crypto Report Says Alameda Gap Is Gone After Bitcoin Rally, What This Means

In its most recent research newsletter, crypto research firm Kaiko alluded to an Alameda Gap, which has been massively impacting the Bitcoin and crypto market for some time now. However, that seems to be in the past, as Kaiko stated that the gap no longer exists.  What The Alameda Gap Is About According to the report, the Alameda Gap is the gap in liquidity that existed after the collapse of the collapse of the defunct crypto exchange FTX and its sister company Alameda Research. Alameda was one of the most prominent market makers then and provided massive liquidity to the market.  Related Reading: Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern Following Alamedas collapse, this liquidity gap is said to have persisted as market makers waited on the sidelines for sentiment and trading activity to recover. Now, the market looks to have moved past this, as Kaiko revealed that, as of last week, the market depth has almost fully recovered and is back to its pre-FTX average.  The research firm added that the Bitcoin 2% market depth is up 40% year-to-date (YTD) and briefly surpassed its pre-FTX average of $470 million. This increase is said to have been mainly due to the surge in Bitcoins price, which has risen faster than the market liquidity since the SEC approved the Spot Bitcoin ETFs in January.  Bitcoin is up about 50% YTD and has already hit new highs since the beginning of the year, including a new all-time high (ATH) of $73,750. Meanwhile, the improvement in liquidity is also evident in the fact that the cost of trading has declined on the three major US crypto exchanges: Coinbase, Kraken, and Bitstamp.  How Bitcoin Is Outperforming Gold Kaiko also highlighted in its report that the Bitcoin-to-Gold ratio, which measures both assets relative performance, is inching closer to its ATH, which it last hit in November 2021. Interestingly, this increase means that BTC is outperforming Gold, even though both assets have recorded ATHs these past few weeks.  Related Reading: Solana Surpasses Ethereum In Major Metric Amid Surge Above $200 Furthermore, funds linked to these assets show how Bitcoin has outperformed Gold. Kaiko noted that Bitcoin ETFs have attracted $11 billion since they launched in early January. Meanwhile, the largest physically-backed Gold ETFs (SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) have registered outflows during the same period.  Kaiko suggested that this could mean that investors were moving towards Bitcoin as the new global store of value. Interestingly, the CEO of Jan3 and Bitcoiner, Samson Mow, while giving reasons why Bitcoin will hit $1 million, also mentioned that people will start demonetizing Gold and substitute it for BTC at some point.   BTC price falls to $62,700 | Source: BTCUSD on Tradingview.com Featured image from Forkast News, chart from Tradingview.com

View Details