John J.Ray News

01.08 / 11:15

UPS Digital Pool show creditors FTX draft bankruptcy plan could see cash for creditors

FTX Group unveiled a draft creditor-repayment plan as part of its bankruptcy that calls for settling customer claims in cash and wiping out its digital token FTT.

24.07 / 06:17

business Law regulation FTX Court Bankruptcy Fried FTX’s Bankman-Fried seeks gag order for all witnesses in criminal case

Former FTX CEO Sam Bankman-Fried has agreed to a “gag order” which will prevent him from making comments to third parties that may interfere with his trial — but argues it should apply to all potential witnesses as well, including current FTX CEO John Ray.

21.07 / 00:49

FIVE CEO Action FTX-Exec Helped Pay Hush Money To Silence Potential Whistleblowers, Lawsuit Claims

New management at bankrupt crypto exchange FTX has filed a lawsuit against former Chief Compliance Officer (CCO) Daniel Friedberg, alleging he enabled fraud and paid «hush money» to prevent employees and their attorneys from exposing those fraudulent activities.

28.06 / 13:47

Blockchain UPS Williams CEO WSJ Relaunch International Breaking: FTX Has Begun Talks to Relaunch International Exchange – Rebranding Will Likely Be Part of the Process

The failed crypto company FTX is apparently having initial talks with investors on bringing back the FTX.com exchange through structures such as a joint venture, a WSJ report said.

26.06 / 20:13

Provident CEO Customers About 74% of $8.7B Owed by FTX to Customers was in Fiat and Stablecoin Funds

Bankrupt cryptocurrency exchange FTX owed $8.7 billion to its customers—approximately 74%, or $6.4 billion, of that was misappropriated fiat currency and stablecoins, according to a report released on Monday.

30.05 / 18:37

Binance CFTC Warning services US Regulator Issues Warning for Firms Providing Clearings Services for Crypto

A US regulator warned firms on Tuesday of the risks that come with the clearing of digital assets.

13.04 / 15:07

UPS Provident CEO 2024 FTX recovers $7.3B, might resume operations in 2024, details inside

Bankrupt crypto exchange FTX has recovered approximately $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, according to the company’s counsel at a bankruptcy court hearing in Delaware.

11.04 / 13:37

CEO Lawyers FTX paid $32.5 million to its bankruptcy lawyers in February, more inside

According to court filings between 4 – 10 April, during the month of February, the fees of law firms involved in FTX’s bankruptcy proceedings totaled around $32.5 million.

11.04 / 05:25

business Law FTX Lawyers FTX's bankruptcy lawyers and advisors pocket $32.5M in February

February’s round of legal expenses for bankrupt crypto exchange FTX has been published and it remains a scary figure for debtors.

10.04 / 02:57

Law regulation FTX Court Financial FTX financial controls were a ‘hodgepodge’ of apps, says court filings

FTX was run by three inexperienced people “not long out of college,” who relied on “a hodgepodge” of online shared documents and communications across a series of different apps to manage the multi-billion dollar empire according to FTX CEO John Ray III.

20.03 / 19:41

UPS Digital Cooper CEO Shell FTX leadership asks Bahamas assets to be stripped, more inside

According to a legal filing on 19 March, FTX seeks to exclude the company’s Bahamian unit from any claim over company assets, claiming that it was a mere shell set up to further alleged fraud by founder Sam Bankman-Fried “SBF.”

08.03 / 08:57

business Law Adoption regulation Banks FTX Bankruptcy Lawyers Lawyers picnic: FTX counsel and advisors rake in $34M in January

The law firms, investment banks and consulting companies working with FTX on its bankruptcy case billed the crypto exchange a combined $34.18 million in January, court documents reveal.

06.03 / 23:51

Ethereum Digital CEO Bitcoin FTX debtors FTX Debtors file lawsuit against Grayscale and Digital Currency Group

The FTX saga continues to hit the crypto headlines. In its latest, the FTX Debtors have announced a lawsuit against Grayscale Investments, a popular crypto asset management firm. The lawsuit also extends to its CEO – Michael Sonnenshein, its parent company – Digital Currency Group (DCG), and its founder – Barry Silbert. Moreover, the lawsuit is filed by FTX debtor affiliate – Alameda Research – the infamous FTX investment arm.

03.03 / 03:17

business Blockchain FTX Bankruptcy FTX presentation shows 'massive shortfall' in firm's assets

Bankrupt cryptocurrency exchange FTX has revealed a "massive shortfall" in its digital asset and fiat currency holdings with billions worth of customer funds missing from both the exchange and its United States-based arm, FTX US.

13.02 / 19:51

UPS CEO Platform DOJ Seeks Independent Examiner in FTX Fraud Allegations

The Department of Justice's Office of the U.S. Trustee filed a motion with the Delaware Bankruptcy Court seeking the appointment of an independent examiner to investigate potential wrongdoing in the collapse of crypto exchange FTX.

26.01 / 09:27

business regulation FTX Court Bankruptcy Celsius Lawyers FTX lawyers: Examiner could cost $100M and ‘provide no benefit’

An investigation into FTX’s collapse by an examiner could cost the firm upwards of $100 million without providing any benefit to creditors or equity holders, argues lawyers representing the bankrupt crypto exchange.

19.01 / 21:59

UPS Bankrupt crypto FTX’s new boss mulls reviving bankrupt crypto exchange

FTX’s new chief executive, John J. Ray III, said he’s looking into the possibility of reviving the bankrupt crypto exchange as he works to return money to the failed company’s customers and creditors.

19.01 / 05:31

Law regulation Court Bankruptcy Lawyers FTX CEO fights to keep lawyers as calls for removal intensify

The CEO of crypto exchange FTX has rejected calls for its law firm Sullivan & Cromwell to be replaced as lead counsel in its bankruptcy case.

19.01 / 02:09

business Fraud exchanges SBF says Sullivan & Cromwell contradicted itself with insolvency claims

Law firm Sullivan & Cromwell contradicted itself when it stated that shuttered crypto exchange FTX US is insolvent, former CEO Sam Bankman-Fried claimed in a Jan. 17 blog post that was shared on Twitter.

23.12 / 14:23

cryptocurrency FTX SBF Jail Fried Sam 4 conditions under which Sam Bankman-Fried has been released from jail

Sam Bankman-Fried, the ex-FTX CEO arrested for criminal fraud, has been released on a $250-million bail. The 30-year-old, once the toast of the crypto world, stands accused of stealing billions of dollars belonging to customers.

20.12 / 23:21

Action FTX Political Donations Fried Sam FTX Aims to Retrieve Sam Bankman-Fried's Political Donations Worth Tens of Millions

The collapsed crypto exchange FTX has started work to claw back money paid as political donations as part of its bankruptcy proceedings in the US.

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