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” Ferrari cuts ties with crypto sponsor ahead of 2023 Formula One season “ Scuderia Ferrari, the racing division of luxury carmaker Ferrari, joined the growing list of Formula One racing teams to end partnerships with their cryptocurrency sponsors. Ferrari exited its multi-year partnership deals with Velas Blockchain and chip manufacturing giant Snapdragon, resulting in…
” FTX asset sales challenged by U.S. Trustee: Report “ Bankrupt crypto exchange FTX’s plans to sell its digital currency futures and clearinghouse LedgerX, among other businesses, were challenged by the U.S. Trustee on Jan. 7, according to Reuters. As per the filing, U.S. Trustee Andrew Vara called for an independent investigation before any sale,…
” Sam Bankman-Fried’s charitable donations sought by FTX: Report “ FTX’s new management is seeking to recover millions of dollars in donations made by the crypto exchange and its former CEO Sam Bankman-Fried, reports the Wall Street Journal. At the end of September, FTX’s charity arm, Future Fund, had committed more than $160 million to…
” FTX, Bahamian FTX DM reach agreement on info sharing, disposition of property, assets “ The FTX Debtors, made up of FTX and its affiliated debtors, and FTX Digital Markets (FTX DM), the Bahamian subsidiary of FTX, announced Jan. 6 that they have reached a cooperation agreement regarding the FTX Debtors’ Chapter 11 bankruptcy case…
” US authorities launch page to notify FTX’s alleged victims about SBF’s case “ The United States Attorney’s Office for the Southern District of New York has launched a page on its website appealing to the victims of Sam Bankman-Fried’s alleged fraud at FTX to come forward and informing them about court proceedings. In a…
” Crypto Biz: SBF has his day in court; Barry Silbert accused of ‘stalling’ over frozen funds “ After Sam Bankman-Fried was handed over to United States officials last month, his top lieutenants — Caroline Ellison and Gary Wang — had already been cooperating with the feds. The two pleaded guilty to a slew of…
“Sam Bankman-Fried wants to use $460M Robinhood stake to fund legal defense” Indicted FTX founder Sam Bankman-Fried wants to use his contested $460 million Robinhood stake to fund his legal defense – despite allegations that he acquired it using money he borrowed from his doomed crypto hedge fund Alameda Research. Bankman-Fried’s attorneys petitioned a Delaware…
” Sam Bankman-Fried’s lawyers claim he needs Robinhood shares ‘to pay for his criminal defense’ “ The legal team for former FTX CEO Sam Bankman-Fried has filed a motion in an effort to stop the exchange’s debtors from controlling more than $450 million worth of shares of Robinhood. In a Jan. 5 court filing regarding…
” FTX customers want more info on FTX’s plans to sell subsidiaries “ A group of FTX customers has filed a limited objection to FTX’s plan to sell four independently-operated subsidiaries, arguing that they should be privy to the sales process to ensure customer interests are represented. It has also shared concerns that “misappropriated customer…
” US authorities are turning their attention to FTX’s Nishad Singh: Report “ The United States Securities and Exchange Commission and Commodity Futures Trading Commission and prosecutors are reportedly investigating former FTX engineering director Nishad Singh for potentially having a role in defrauding investors and users. According to a Jan. 5 report from Bloomberg, U.S….