In a major win for FTX customers, a judge has approved the bankruptcy plan that will enable the exchange’s users to recover their funds. The decision comes as a relief to the thousands of individuals who were left in limbo when the cryptocurrency exchange filed for bankruptcy earlier this year. With the approval of the… Continue reading FTX Customers Will Get Back Billions After Judge OKs Bankruptcy Plan
Category: ftx
Prosecutors Say SBF Pushed FTX Execs to Make Extra Political Donations
According to recent reports, prosecutors in the U.S. state of Florida are alleging that executives at FTX, an online gaming company, were pressured by a software provider known as SBF to make extra political donations. Specifically, the prosecutors allege that SBF used its legal contracts with FTX to extract additional campaign contributions from the company’s… Continue reading Prosecutors Say SBF Pushed FTX Execs to Make Extra Political Donations
Former FTX CEO Sam Bankman-Fried’s bail revoked ahead of October trial
The former CEO of the cryptocurrency derivatives platform FTX, Sam Bankman-Fried, is facing trial this October and will not be able to get out on bail. It is a significant development in the case as the high-profile crypto executive is accused of operating a fraudulent scheme to defraud investors of more than $27 million. The… Continue reading Former FTX CEO Sam Bankman-Fried’s bail revoked ahead of October trial
FTX’s Cybersecurity Was Hilariously Bad
When cryptocurrencies first entered the market, one of the primary concerns was the safety of their users’ currency. Cryptocurrency exchanges have to maintain secure networks in order to ensure that customer’s money is secure, but some have failed to do so. Recently, the popular cryptocurrency exchange FTX was the victim of a major security breach… Continue reading FTX’s Cybersecurity Was Hilariously Bad
FTX co-founder Sam Bankman-Fried is back in the US, released on $250 million bail
Sam Bankman-Fried, the co-founder of crypto derivatives exchange FTX, was recently released from US federal custody on a $250 million bail after having been detained at an immigration detention center in Florida. Bankman-Fried had been in detention since February, when he surrendered to authorities as part of a deal negotiated by his lawyers and Immigrations… Continue reading FTX co-founder Sam Bankman-Fried is back in the US, released on $250 million bail
Democrats plan to return over $1 million from FTX founder Sam Bankman-Fried
On October 14th, 2020, three prominent Democratic Senators announced plans to return over $1 million in campaign contributions from cryptocurrency investor Sam Bankman-Fried. The money was donated to the three senators’ reelection campaigns during the last election cycle. Sam Bankman-Fried is a billionaire entrepreneur, the founder of FTX Crypto Exchange, and a prominent figure in… Continue reading Democrats plan to return over $1 million from FTX founder Sam Bankman-Fried
Plain Old-Fashioned
On Monday, a house subcommittee hearing revealed a shocking new perspective on the collapse of the FTX Exchange. According to testimony from whistleblowers and former employees of the exchange, the downfall of the digital asset exchange was due to nothing less than plain old-fashioned embezzlement. The testimony painted a shocking picture of the inner workings… Continue reading Plain Old-Fashioned