Tag: FTX

Hedge Funds Set for FTX Win – Bloomberg

FTX is already one of history’s great corporate disasters. Now, for a clutch of specialist funds, it’s shaping up to be a terrific trade too. A cadre of investment firms have been buying up the rights to FTX customer claims since the crypto firm fell into bankruptcy in late 2022. The basic bet has been that customers would recover more…

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Sam Bankman-Fried Replaces Trial Lawyers Ahead of Sentencing, Taps Celsius CEO Alex Mashinsky’s Legal Team

Sam Bankman-Fried, in his first appearance in court after being found guilty of defrauding billions of dollars from FTX customers, said his trial attorneys would no longer represent him as he heads towards sentencing. Instead, his newly hired lawyer, Marc Mukasey, will represent him over the next month. Bankman-Fried, who was found guilty on seven different counts of fraud and…

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FTX and Binance: a tale of two cases | Reuters

No two prosecutions are alike, but the difference in outcomes in these two cases is striking. To be sure, FTX and Bankman-Fried, as the government alleged and the jury ultimately found, engaged in the most consequential financial crimes — systematic fraud upon customers and investors — while Binance and Zhao pleaded guilty to “process” crimes. These included failure to register…

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Larry David on Super Bowl Ad for Sam Bankman-Fried’s FTX: ‘Like an Idiot, I Did It’

Comedian Larry David was self-effacing when asked this week about his infamous Super Bowl commercial for Sam Bankman-Fried’s cryptocurrency exchange FTX, which collapsed months after the ad. “I asked people, friends of mine who were well-versed in this stuff, ‘Should I do this ad?’” he told the Associated Press in an interview this week. “They said, ‘Yeah, this is totally…

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FTX Expects to Pay Crypto Customers in Full, Won’t Restart Exchange

FTX, the bankrupt cryptocurrency exchange that was run by Sam Bankman-Fried, said it expects to fully repay its customers, according to a court hearing. However, the full recovery of customer assets is – unfortunately for those waiting for their money – based on the point of FTX’s actual bankruptcy, when the markets were already in turmoil. That date was preliminarily…

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FTX Bankruptcy Judge Says New Probe Should Be Limited and Fast – Bloomberg

A federal judge moved to limit the cost and length of a new outside investigation of FTX Trading, the fraud-tainted crypto firm, saying its insolvency case should not be disrupted by another multimillion-dollar probe. US Bankruptcy Judge John Dorsey sided with lawyers for FTX and its creditors, who argued that the new investigation ordered by an appellate court should be…

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