FTX

A U.S. judge has ordered FTX Trading Ltd. and Alameda Research LLC to pay $12.7 billion in restitution and disgorgement to creditors. What Happened: This ruling stems from a lawsuit filed by the Commodity Futures Trading Commission (CFTC) against the two entities, accusing them of committing fraud...

The Securities and Exchange Commission (SEC) has initiated a lawsuit against Silvergate Capital Corp. (OTCPK: SICP), a California-based bank significantly impacted by the downfall of the cryptocurrency exchange FTX. The lawsuit, which was filed in federal court in Manhattan, alleges “...

Bankrupt crypto exchange FTX is seeking court approval to allow its millions of customers to vote on a plan that would repay them in cash, but some customers are unhappy with the terms. What Happened: FTX claims it has recovered $16 billion in assets, including $12 billion in cash, enough to repay...

Ten years ago, Grammy-winning rapper 50 Cent made a groundbreaking decision to accept Bitcoin as payment for his album “Animal Ambition.” This move, which initially appeared experimental, has resulted in substantial financial gains for the artist over the past decade. In 2014, 50 Cent,...

Ryan Salame, once a prominent figure in the operations of the now-defunct cryptocurrency exchange FTX, has been sentenced to 90 months in prison. What Happened: The sentence will be followed by three years of supervised release, with Salame being ordered to pay over $6 million in forfeiture and...

The first close associate of Sam Bankman-Fried to plead guilty in the aftermath of FTX‘s downfall will be sentenced on Tuesday. What Happened: Ryan Salame, former CEO of FTX's Bahamas subsidiary, struck a plea deal with federal prosecutors in September. This occurred just weeks before Bankman...

After an extensive auction process, the estate of the bankrupt crypto exchange FTX has finalized the sale of $2.6 billion worth of Solana (CRYPTO: SOL) tokens at significant discounts. What Happened: Figure Markets and Pantera Capital were among the latest buyers, Bloomberg reported. Figure...

Sam Bankman-Fried, the founder of crypto exchange FTX, who was found guilty of fraud and conspiracy, was transferred from a Brooklyn detention center on Wednesday morning. What Happened: While the exact destination of Bankman-Fried’s transfer remains unknown, his spokesman Mark Botnick told...

Crypto lending firm Genesis Global has reportedly been given the green light by a U.S. Bankruptcy Judge to return approximately $3 billion in cash and cryptocurrency to its clients. This move leaves the firm’s owner, Digital Currency Group (DCG), with no recovery from the bankruptcy. What...

Bankrupt cryptocurrency exchange FTX’s recent announcement of reimbursing its customers in full with interest has drawn mixed reactions. What Happened: CNBC reported Mackenzie Sigalos pointed out that while FTX plans to pay back its customers, many are unhappy due to the freezing of the value...

FTX, the cryptocurrency exchange that filed for bankruptcy in November 2022, has accumulated a substantial cash reserve, allowing it to fully reimburse its customers. What Happened: FTX has amassed more than enough cash to cover the losses incurred by its customers during its collapse in November...

Legendary NFL quarterback Tom Brady was roasted by former teammates, comedians and friends during a live Netflix (NASDAQ:NFLX) streaming special Sunday. Among the topics discussed were Brady's career, unwillingness to retire, his divorce from Gisele Bündchen and various NFL controversies like "...

Sam Bankman-Fried, the disgraced founder of collapsed crypto exchange FTX, has reached a tentative agreement with a group of defrauded customers. What Happened: This agreement, pending judicial approval, stipulates that the plaintiffs will withdraw their class action lawsuit against Bankman-Fried...

Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has lodged an appeal against his fraud conviction and 25-year prison sentence, which he received for his involvement in one of the largest financial frauds in American history. What Happened: Bankman-Fried filed his appeal a few weeks...

Announcing its progress in recovering funds from various sources, bankrupt firm Voyager Digital on Wednesday announced it has secured a combined $484.35 million from FTX, Three Arrows Capital (3AC), and Directors and Officers (D&O) insurance settlements. In a detailed status update regarding...