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“Sam Bankman-Fried’s parents fear his legal fees will ‘wipe them out’” The law professor parents of disgraced FTX boss Sam Bankman-Fried reportedly fear the family will go broke while paying for his defense against mounting litigation. Joseph Bankman and Barbara Fried — both well-known figures at Stanford University — have stayed with their ex-billionaire son…
” Bybit joins trend, releases Merkle Tree-verified proof of reserves “ The cryptocurrency exchange Bybit joins the parade of exchanges in the industry pushing for transparency post the FTX catastrophe. On Dec. 12, it announced that it has launched a Merkle Tree-based proof-of-reserve system. The new transparency initiative allows its users to directly verify Bybit’s holdings,…
” US senator calls on SEC’s Gensler to answer for ‘regulatory failures’ “ Minnesota Senator Tom Emmer has slammed United States Securities Exchange Commission (SEC) Chairman Gary Gensler for his flawed “crypto information-gathering efforts” and insisted Gensler should appear before Congress to explain the cost of his “regulatory failures.” Emmer’s comments came from a Dec….
” US senator: There’s ‘no reason why’ crypto should exist “ Another crypto-skeptic United States senator is on the loose, with Democrat Jon Tester boldly stating that he sees “no reason why” crypto should exist. Tester is the senior senator of Montana and has held a seat there since 2007. He also serves on the…
” SBF wants to start a new business, officially added as hearing witness “ The founder and former CEO of bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried, said he’d be interested in forming a new venture aimed at paying back the customers he owes money to. “I would give anything to be able to do that….
” Former top SEC crypto regulator hired by Caroline Ellison “ A former top crypto regulator in the United States Securities and Exchange Commission (SEC) will represent Caroline Ellison, ex-Alameda Research CEO, in an ongoing federal probe, according to a report from Bloomberg on Dec. 10. Caroline will be represented by Stephanie Avakian and a…
” FTT investors’ claims to be investigated for securities laws violations “ To help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm — Schall Law Firm — has taken up the task of investigating the investors’ claims against FTX for violations of the securities laws. It is estimated that over…
” Sam Bankman-Fried’s parents no longer on the Stanford Law School roster “ The domino effect of FTX CEO Sam Bankman-Fried’s actions came full circle as his reputation began impacting the professional lives of his parents — Stanford Law professors Joseph Bankman and Barbara Fried. SBF’s father, Bankman, had to cancel his winter session course…
” SBF tried to destabilize crypto market to save FTX: Report “ Tether executives and Binance CEO Changpeng “CZ” Zhao worried that Sam Bankman-Fried (SBF), former FTX CEO, was attempting to destabilize the crypto market aiming to save the now-bankrupt exchange, according to reports on Dec. 9. Messages seen by The Wall Street Journal of…
” Lessons we learned from the Terraform-FTX implosions “ In May 2022, Terraform Labs’ LUNA cryptocurrency and TerraUSD (UST) stablecoin collapsed, triggering a massive shock in the crypto industry. Six months later, the bruised industry took another hammering as one of the largest cryptocurrency exchanges, FTX, filed for bankruptcy protection and billions of dollars of…