Browsing: FTX
The crypto exchange OKX has committed to cooperate and return over $157 million in frozen FTX funds to the bankruptcy team.
The Crypto-friendly bank, Silvergate, has had a spate of partners cut ties with them following their involvement with FTX.
The Biden administration announced on Jan. 27 that it will introduce a new cryptocurrency regulatory framework in the coming months to combat the numerous cryptocurrency scams that have plagued the crypto market over the past year, causing millions of dollars in losses.
According to court filings on Friday, the US Government is looking to take possession of assets worth nearly $700 million that were confiscated earlier this month from former FTX CEO Sam Bankman-Fried.
Kevin O’Leary – a popular Canadian investor and host of the TV show Shark Tank – believes the unregulated cryptocurrency environment will cause the collapse of other companies. However, he remains a proponent of the industry, admitting that he invested 5% of his wealth in bitcoin.
The judge overseeing FTX’s bankruptcy proceedings has approved the sale of LedgerX and some of its assets by the embattled cryptocurrency exchange to aid in its creditor repayment efforts. Judge John Dorsey has approved the sale of four key units of FTX, according to a Delaware bankruptcy court filing.
According to a court filing, the US Department of Justice (DOJ) has, through a holding company, seized more than 55 million shares of Robinhood (HOOD) held by Sam Bankman-Fried and FTX co-founder Gary Wang. Based on HOOD’s closing price of $8.25 on Friday, these shares are worth just over $456 million.
In his first court appearance since being extradited from the Bahamas, Sam Bankman-Fried was told he can live with his parents on $250 million bail secured by their Palo Alto house.
The SEC General Counsel has announced that he will depart the agency in January. Berkovitz reportedly had at least one recent dinner with former FTX CEO – Sam Bankman-Fried.
Amid the heated-up news about the FTX drama, Ripple CEO Brad Garlinghouse has tried to turn the public’s attention to Wells Fargo money mismanagement. A $3.7 billion fine for mismanagement at Wells Fargo bank was treated as, in Garlinghouse’s words, barely a blip on the radar.