The FTX debtors said they had paid the 14 consultancy firms and the law firms handling its bankruptcy case over $100 million as of April 30, according to a May 30 court filing. Sullivan & Cromwell is top earner According to the filing, FTX paid law firm Sullivan & Cromwell (S&C) $39.58 million for its…
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Ad The United States House Committee on Financial Service has requested documents related to charges filed against FTX founder Sam Bankman-Fried by the Securities and Exchange Commission (SEC). The lawmakers wrote that the timing of the SEC’s charges against SBF raises “serious questions about its process and cooperation” with the US Department of Justice (DoJ)….
The U.K.’s Charity Commission has launched a probe into an FTX Foundation-funded charity, Effective Ventures Foundation, according to a Jan. 30 statement. FTX’s bankruptcy is a “serious incident” because its “philanthropic foundation was a significant funder of the charity,” the Charity Commission said. It added that there were no indications of any wrongdoing by the…
Blockchain security firm PeckShield identified three wallets that converted 63,860 staked Ethereum (stETH) — roughly $90 million — to Ethereum (ETH) when the stETH/ETH peg dropped to a monthly low between May 2022 and June 2022. The firm said the three wallets withdrew the stETH from FTX, converted it to ETH, and then transferred the…
Out of 535 senators and representatives in the U.S. Congress, 196 were found to have taken donations in cash from FTX. The members of Congress were identified by CoinDesk journalists in a large research effort to shine a light on Congress’ connection to the failed exchange. Journalists reached out to all 196 members for comments…
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…
FTX founder Sam Bankman-Fried spent his first night in prison “in good spirits,” the Nassau Guardian reported, citing Bahamas Acting Commissioner of Corrections Doan Cleare. The acting commissioner said SBF was spending his time in the prison’s sick bay and was receiving his medications on time. “He is with five other inmates in a dorm-style…
FTX former CEO Sam Bankman-Fried supports restarting the bankrupt exchange by issuing new FTT tokens to creditors and giving 100% profits to token holders. I continue to think that this would be a productive path for parties to explore! I *hope* that the teams in place will do so. — SBF (@SBF_FTX) December 9, 2022 Crypto…
Chairwoman of the US House Financial Services Committee Maxine Waters tweeted on Dec. 5 that FTX founder Sam Bankman-Fried has sufficient knowledge to testify before Congress on Dec. 13. .@SBF_FTX, Based on your role as CEO and your media interviews over the past few weeks, it’s clear to us that the information you have thus…