On Thursday, March 23, creditors of the defunct cryptocurrency exchange FTX submitted a petition to the bankruptcy court requesting a 95 million dollar share in the Web3 company Mysten Labs, based in Delaware. The cryptocurrency trading platform FTX has managed to stay afloat to make good on its promise to compensate consumers who were adversely … Read more
After the confirmation by the Wall Street investment company Jefferies that it is in discussions with a prospective buyer for the failing FTX exchange, it is possible that plans to establish FTX 2.0 may begin to take shape gradually. After being ordered to cease operations by the relevant authorities, the exchange is anticipated to recommence … Read more
With the conclusion of the insolvency proceedings, the story of the FTX exchange, and its sister business Alameda Research is continuing. The most recent turn of events involves the sale of Alameda Research’s stake in Sequoia Capital to the sovereign wealth fund of N Abu Dhabi. A recent document filed in court by the US … Read more
In the most recent turn of events, the defunct cryptocurrency exchange FTX has filed (1) a lawsuit against Grayscale Investments, the largest cryptocurrency asset management in the world. The case was filed by FTX’s sister business, Alameda Research, against FTX’s creditors to get injunctive relief for FTX debtors and realize more than $250 million in … Read more
After ex-FTX Director of Engineering Nishad Singh was prosecuted with allegations of fraud by the Commodities Futures Trading Commission (CFTC), the case between FTX and Alameda Research in the U.S. gained traction. Notable is that Singh pleaded guilty to the accusation of fraud that was brought before him on Tuesday. Consequently, Sam Bankman-Fried, the former … Read more