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“Wild FTX spending included all-expense trips and free massages” FTX executives spent wildly and showered workers with lavish perks such as free food and massages, and Amazon deliveries by private jet in the months before the cryptocurrency site’s catastrophic collapse, according to former employees. FTX’s headquarters in the Bahamas featured daily catering “in addition to…
” Bankruptcy court told FTX and Alameda owe BlockFi $1B… but it’s complicated “ A lawyer for BlockFi told the first day hearing of its bankruptcy proceedings that the crypto lender has $355 million stuck on FTX and that the collapsed exchange’s sister company Alameda Research has defaulted on a $680 million loan. BlockFi filed…
” SBF reveals what was behind FTX’s reopening of Bahamian withdrawals “ FTX’s former CEO Sam Bankman-Fried has divulged what really went on in the days before it filed for bankruptcy when the exchange selectively reopened withdrawals — only for Bahamian users. In a telephone interview with crypto blogger Tiffany Fong, dated Nov. 16, Bankman-Fried…
“FTX founder Sam Bankman-Fried ghosted legal team over bankruptcy: report” Disgraced FTX founder Sam Bankman-Fried ignored pleas from company attorneys and advisers urging him to file for bankruptcy “for days” before the cryptocurrency platform imploded, according to a report Tuesday. FTX general counsel Ryne Miller was one of several people who begged Bankman-Fried and other…
” BlockFi bankruptcy filing triggers a wide range of community reaction “ As crypto lending platform BlockFi filed for bankruptcy, members of the crypto community reacted with mixed feedback as another platform fell during the current bear market. Despite BlockFi citing the FTX contagion as the reason for its bankruptcy filing, podcaster Matt Odell pointed…
” Silvergate denies recent FUD, confirms minimal exposure to BlockFi “ Institutional crypto services provider Silvergate Capital has confirmed its minimal exposure to the embattled BlockFi crypto lending firm. On Nov. 28, Silvergate announced that its deposit relationship with BlockFi is “limited to less than $20 million of its total deposits from all digital asset…
” FTX resumes employee and contractor payments after weeks in limbo “ Bankrupt crypto exchange FTX has announced it will be “resuming ordinary” cash payments, salaries and benefits to its remaining employees around the world. The announcement came from new FTX CEO John Ray III on Nov. 28, as the insolvency professional looks to help…
“Bahamas shreds FTX CEO John Ray: ‘extremely regrettable’ accusations” A top government official in the Bahamas slammed new FTX CEO John Ray III for his “extremely regrettable” claims in the heated bankruptcy battle over the imploded crypto company. Bahamas Attorney General Ryan Pinder took aim at Ray after the executive accused the Caribbean country of…
” BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troubles “ BlockFi announced on Nov. 28 that it has filed for Chapter 11 bankruptcy. The filing in the United States Bankruptcy Court for the District of New Jersey pertains to the company and its eight subsidiaries. The move comes after several…
” FTX under ‘active’ civil and criminal investigation: Bahamas AG “ The Bahamas Attorney General (AG) and Minister of Legal Affairs Ryan Pinder has confirmed that the collapsed crypto exchange FTX is the focus of an “active and ongoing” investigation by authorities from the Caribbean nation. In a national statement that was delivered live on the…