Ad Bankrupt FTX proposed a retention plan that would pay the exchange’s employees bonuses of up to 94% of their salary, according to a March 8 court filing. The bonus is capped at $4,027,204 and is designed to cater to employees with “unique and specialized skillsets” that would be difficult to replace and are critical…
Latest Report The SEC vs. Paxos: A deep dive into the implications of the lawsuit and its effects on stablecoins The SEC’s notice to Paxos to stop minting BUSD could have longstanding implications on the crypto market. CryptoSlate’s new report explores the recent and potential consequences of enforcement action against Paxos. Andjela Radmilac · 5…
Alameda Research liquidators incurred a total loss of around $11.5 million over two weeks after taking over a single wallet of the bankrupt firm, Arkham Intelligence reported on Jan. 16. Over $4 million of these losses could have been prevented if the liquidators had closed the firm’s position instead of withdrawing collaterals, according to the…
Bankrupt crypto lender Voyager described Alameda’s objection to Binance.US’ bid for its assets as “hypocrisy and chutzpah.” Voyager said the bankrupt crypto trading firm has “desperately sought to undermine and sabotage” its restructuring efforts. The lender said Alameda tried to front-run its marketing proposal by offering a lowball proposal that disparages its businesses. According to…
FTX founder Sam Bankman-Fried wants to retain control of Robinhood shares worth $450 million on the basis that the bankrupt exchange has no “legal claims” over the assets, according to a Jan. 5 court filing. SBF said he and Gary Wang originally owned the shares. He added that the shares are not owned by Alameda…
Crypto wallets associated with bankrupt trading firm Alameda Research have become active in the last 24 hours, swapping ETH-related tokens for USDT and Ethereum, according to blockchain security firm Peckshield. According to available information, the wallet has funneled the converted funds through mixers and instant exchangers. A data Journalist with Nansen Martin Lee reported similar findings….
Caroline Ellison, the CEO of Alameda Research, won’t face any criminal charges for her role in the FTX fiasco. Ellison’s plea agreement with a New York court was unsealed on Dec. 22, showing that she faces only a fine and forfeiture of assets for pleading guilty. According to the agreement, she won’t be prosecuted if…
Founded amid the 2018 bear market, Wintermute rose from a small trading firm with less than $1 million in revenue to a crypto behemoth that traded $1.5 billion in volume last year. The company’s road to riches was paved with careful trading strategies, wide spreads, and thin margins – with just a little luck in…
FTX CEO John Ray III Dec. 13 testimony to the U.S. Congress revealed that the bankrupt exchange commingled assets and stored wallets’ private keys without encryption. According to Ray, FTX’s collapse was caused by the failure of corporate controls — the worst he has seen in his over 40 years of handling bankruptcy cases. He…
An analysis of the Arkham Intelligence dashboard CryptoSlate Research shows that popular crypto lender Genesis received billions in FTT tokens from bankrupt crypto firms Alameda Research and FTX over the past year. FTX’s FTT Transfers to Genesis (Source: Arkham Intelligence) FTX’s FTT Transfers to Genesis (Source: Arkham Intelligence) For context, Genesis received $932.56 million worth…