FTX Financial News

Set to be sentenced next week, disgraced FTX founder Sam Bankman-Fried is facing charges that carry a total maximum penalty of over 100 years in prison – but what sentence will he actually get?

FTX users are suing the now-defunct Silvergate by claiming it abetted FTX and its affiliated trading firm Alameda Research to commit a historic fraud.

Unabomber prosecutor Robert J. Cleary has been given the green light by a U.S. bankruptcy judge to probe law firm Sullivan and Cromwell’s potential conflicts of interests in relation to FTX, according to a Wednesday court filing.

The San Diego federal court has ruled that Silvergate Bank must face a class-action lawsuit filed by FTX users which alleges that the bank aided fraud at the exchange and its associated trading firm, Alameda Research.

In a collection of letters, FTX users around the globe have asked for their crypto assets instead of being reimbursed with US dollars.

John Ray III, the CEO and restructuring officer of FTX, has criticized an attempt made by Sam Bankman-Fried’s lawyers to reduce his sentence, emphasizing that the victims of the fraud “have suffered and continue to suffer.” 

Lawyers representing former FTX CEO  Sam Bankman-Fried, aka SBF, have criticized the government’s proposal for a maximum sentence of 50 years in prison, saying it is “not justice.”

The Department of Justice (DOJ) has filed dozens of victim impact statements in the criminal case against  Sam Bankman-Fried  ahead of his sentencing.

Newly revealed court documents shed light on Sam Bankman-Fried’s strategies aimed at repairing his public image following the collapse of FTX in 2022. 

Crypto asset manager Pantera Capital is seeking funding from major investors to purchase Solana (SOL) tokens at a discounted rate from the bankrupt FTX estate.

Solana (SOL) has emerged as a standout performer, with its price doing a 10X surge. This surge in price, particularly in the aftermath of the FTX collapse, has been remarkable. This is a story of Solana's resilience but also highlights how it survived a particularly bleak crypto winter. Let's do a deep dive into the factors driving Solana's ascent and speculate on its future. Founded in 2017 by former Qualcomm engineer Anatoli Yakovenko, Solana's original vision was to challenge centralized financial systems. Developed by Solana Labs and overseen by the Swiss-based Solana Foundation, its mission is to serve as a decentralized counterpart to traditional stock exchanges. Over time, this vision has expanded to cover decentralized finance (DeFi), non-fungible tokens (NFTs), and crypto payments. Solana's mainnet went live in March 2020, leveraging a proof-of-stake mechanism complemented by a unique proof-of-history (PoH) technology. This combination enables Solana to process transactions at a theoretical peak of 710,000 transactions per second, a feat of engineering that positions it as one of the fastest blockchains in existence. Despite its decentralization, with nearly 2,000 validators, concerns have been raised about the centralization of transaction processing and storage.

BlockFi has finalized a settlement with FTX and Alameda Research to receive $874.5 million to help repay customers affected by its bankruptcy.

Fallen crypto exchange FTX has opened its claim window for creditors to retrieve their crypto assets.

Crypto hedge fund LedgerPrime, once linked to the bankrupt FTX crypto exchange, has relaunched under the name MNNC Group according to a February 29 Bloomberg report.

Family members of former FTX chief Sam Bankman-Fried have written individual letters to the federal judge who will determine his sentence, according to a February 27 filing in the United States District Court for the Southern District of New York. Barbara Fried, Joseph Bankman, and Gabriel Bankman-Fried — SBF’s mother, father, and brother — submitted pleas for leniency.

Lawyers for FTX founder Sam Bankman-Fried have proposed a sentence of 63 to 78 months in prison for their client, citing his charitable work and young age. Bankman-Fried was found guilty on multiple charges, including defrauding FTX customers of $8 billion.

Bankrupt cryptocurrency exchange FTX has been permitted to sell its shares in the artificial intelligence firm Anthropic, according to an issue ordered by U.S. Federal Judge John Dorsey on Thursday.

Disgraced former FTX CEO Sam Bankman-Fried (SBF) on Wednesday confirmed plans to stick with his new lawyers Marc Mukasey and Torrey Young, who are also representing Celsius CEO Alex Mashinsky, according to a report by Reuters.

Disgraced former FTX founder Sam Bankman-Fried appeared in a Manhattan federal court on Wednesday afternoon with a new legal team that also represents former Celsius CEO Alex Mashinsky.

Former Celsius Network’s CEO Alex Mashinsky has waived any potential conflicts of interest that may arise from choosing similar legal representation as Sam Bankman-Fried.

The first prison photo of former FTX CEO Sam Bankman-Fried in prison was released on Tuesday by crypto influencer Tiffany Fong on February 19.