FTX Financial News

On August 25, former FTX CEO Sam Bankman-Fried's attorneys filed a new motion seeking his "temporary release" or, alternatively, requesting that he be allowed to meet with his defense team five days a week based on his right to assist in preparing his defense.

The parent of Hit Network, which controls the “BitBoy Crypto" brand, has cut ties with its public face, Ben Armstrong, citing issues surrounding substance abuse and financial damage to employees.

Lawyers representing Sam Bankman-Fried, or SBF, have filed an appeal claiming the former FTX CEO’s bail was revoked “in retaliation for him exercising his First Amendment rights” and not witness tampering as alleged.

Sam Bankman-Fried said Friday that prosecutors have delivered another four million pages of documents for the FTX founder to examine six weeks before trial, making it impossible for the former cryptocurrency executive to adequately review the evidence for an October trial from behind bars. Bankman-Fried lost the right to remain free on bail when a judge decided two weeks ago that the fallen cryptocurrency wiz had repeatedly tried to influence witnesses against him. Prosecutors say he intentionally deceived customers and investors to enrich himself and others, while playing a central role in the company's multibillion-dollar collapse after the equivalent of a bank run. In a letter to U.S. District Judge Lewis A. Kaplan, attorneys Christian Everdell and Mark Cohen renewed their request for the 31-year-old to be freed so he can adequately prepare for his Oct. 3 trial. He'd been living with his parents in Palo Alto, California, under the terms of a $250 million bail deal that was in place since he was brought to the United States from the Bahamas in December. His lawyers appealed the ruling to jail him to the 2nd U.S. Circuit Court of Appeals. And earlier this week, they complained at a hearing that he has had to survive at a Brooklyn lockup on bread, water and peanut butter because they won't provide him with vegan food.

Following the recent Kroll cybersecurity breach, FTX Derivatives Exchange, a financially distressed cryptocurrency trading company, has opted to temporarily suspend accounts of impacted users accessing its claims portal.

A federal judge will hear Sam Bankman-Fried's defense argument against a newly released batch of evidence provided by the U.S. Department of Justice (DoJ) on Aug. 25. According to Bankman-Fried's attorneys, an additional 4 million pages of discovery were released less than six weeks before his trial, scheduled for October 3. 

Lawyers representing former FTX CEO Sam Bankman-Fried, or SBF, have claimed the “extraordinary accommodations” offered by authorities were insufficient in order for him to prepare for his criminal trial in October.

A cybersecurity breach at FTX’s bankruptcy claims agent Kroll has compromised user data from both FTX and the bankrupt crypto lender BlockFi.

Defunct crypto exchange FTX has announced a cybersecurity breach involving its bankruptcy case claims agent, Kroll, in which limited, non-sensitive customer data of specific claimants was exposed. FTX said it is actively overseeing the situation, assuring that account passwords, systems and funds remain unaffected.

The FTX bankruptcy saga has taken an alarming turn as daily legal expenses surge to a staggering $1.5 million, with creditors now sounding the alarm.

The blockchain industry has been revolutionary, to say the least. In the last three years, the crypto market has affected and changed lives positively — mine included. And this is why I am a massive advocate of cryptocurrencies and their power to give anyone financial freedom. Perhaps that is why MicroStrategy CEO Michael Saylor’s quote calling Bitcoin (BTC) “digital gold” resonates with me. 

Now-defunct crypto exchange FTX has hired crypto firm Galaxy to handle its cryptocurrency holdings through selling, staking, and hedging.

The company filed a motion with the District of Delaware Bankruptcy Court on Aug. 24 seeking authorization and approval of guidelines for the sale of digital assets recovered during ongoing bankruptcy proceedings.

A federal judge is allowing former FTX CEO Sam Bankman-Fried, or SBF, access to his legal team outside of jail, provided he gives sufficient notice.

Lawyers currently representing Sam Bankman-Fried, or SBF, for his criminal case in the United States plan to elicit evidence the former CEO acted “in good faith” on advice of previous counsel in regards to his alleged actions at FTX and Alameda Research.

Bankrupt crypto lender BlockFiis trying to block efforts from FTX and Three Arrows Capital (3AC) to recover billions of dollars transacted between the firms before they collapsed last year.

FTX founder Sam Bankman-Fried has seemingly been doing it tough behind bars, eating only bread with peanut butter to accommodate his vegan diet, while exhausting his supply of prescription medication.

FTX founder Sam Bankman-Fried has entered a not guilty plea in Manhattan federal court in response to a new indictment that alleges charges of fraud and conspiracy. 

Sam “SBF” Bankman-Fried, the former CEO and co-founder of crypto exchange FTX, has pleaded not guilty to fraud and money laundering charges levied in an updated indictment by prosecutors, according to a report. 

United States prosecutors have put forward their proposed instructions to the jury ahead of the October trial for FTX co-founder Sam Bankman-Fried.

Bankrupt crypto exchange FTX submitted a "Reply" on Sunday, August 20, to back its Settlement Plan and address the US Trustee's objection to the Motion.