Salame helped collapse the crypto exchange that stole $10 billion in user funds US federal prosecutors are seeking a sentence of five to seven years in prison for former FTX executive Ryan Salame, the alleged co-conspirator with FTX co-founder Sam “SBF” Bankman-Fried, who pleaded guilty to crimes that helped cause the collapse of the bankrupt cryptocurrency exchange. A sentencing memo
The lawsuit wants to hold the bank accountable for supporting the failed cryptocurrency business A federal judge in San Diego ruled that Silvergate Bank must face a class-action lawsuit from former FTX users who accuse the now-defunct cryptocurrency institution and its trading firm, Alameda Research, of aiding fraud at the exchange. The March 20 ruling
Prosecutors are hoping to put the FTX cryptocurrency exchange scammer away for decades Prosecutors in the fraud case against Sam Bankman-Fried are seeking a 40 to 50-year sentence for the former CEO of the bankrupt FTX cryptocurrency exchange. He faces up to 110 years for his role in the company’s illegal activities. The prosecution’s 116-page
The scammer and FTX cryptocurrency exchange founder is pleading for mercy Attorneys for Sam “SBF” Bankman-Fried have filed a request in the US District Court for the Southern New York District for a prison sentence of between five and a quarter and six and a half years for their client. The former CEO of the
The crippled cryptocurrency exchange is going to sell Digital Custody for $500,000 FTX CEO John Ray III and the FTX debtors estate have filed to sell Digital Custody (DC) to CoinList for a substantial discount of $500,000, with financing delivered by DC’s original seller and CEO, Terence Culver. The failed cryptocurrency exchange FTX originally bought
FTX users want the defunct cryptocurrency exchange’s partners to pay up A group of FTX users is targeting the Mercedes-AMG Petronas Formula One team and MLB for allegedly supporting FTX to commit fraud by promoting the crypto exchange, according to twin class-action lawsuits in a Florida district court on November 27. The suits accuse the
The cryptocurrency conman will have to remain behind bars as his legal team fights for his release FTX cryptocurrency exchange founder and convicted felon Sam Bankman-Fried will remain behind bars after attempts to persuade a US appellate court that he should be released during his legal team’s appeals process have failed. The November 21 ruling
The ongoing FTX debacle has led to federal authorities being given a lot of personal data FTX advisers have recently been issued subpoenas by several FBI field offices, forcing the bankrupt cryptocurrency firm to disclose data from customer transactions and accounts, according to a Bloomberg report that reviewed the document. FTX consultants have turned over
The jury didn’t take long to return its verdict on several charges The former head of FTX crypto exchange, Sam Bankman-Fried, faces decades behind bars after being convicted of seven criminal charges, including securities fraud, money laundering and wire fraud, after the jury deliberated for five hours. Prosecutors aimed to demonstrate that Bankman-Fried was the
The payment is part of a planned reimbursement following the platform’s collapse Crypto wallets linked to the now-bankrupt FTX crypto exchange and sister firm Alameda Research have transmitted more than $13 million in various altcoins to multiple crypto exchanges as of November 1. Data from on-chain analysis company Spotonchain indicates the FTX wallet initially transferred
A deal has been made that could see FTX users see up to 90% of their crypto assets returned FTX and FTX.US have reached a proposed settlement that would return 90% of assets to customers of the bankrupt crypto exchanges by the middle of 2024. After “extensive discussions” with the unsecured creditors’ committee, FTX debtors
The deal will see FTX-linked Alameda Research receive $175 million from Genesis A settlement has been approved by a New York bankruptcy judge between bankrupt cryptocurrency firms FTX and Genesis Global Trading (GGC) that grants FTX-affiliated Alameda Research $175 million from GGC. The US Bankruptcy Court of the Southern District of New York approved the
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