Caroline Ellison, a former top deputy to FTX founder Sam Bankman-Fried (SBF), concluded her testimony on the seventh day of the SBF trial. Her detailed account shed light on her complex relationship with SBF, both personally and professionally. While her testimony did not bring any significant breakthroughs for SBF’s defense, it provided insights into the […]
Ark Invest, led by Cathie Wood, has filed an updated version of its spot Bitcoin ETF prospectus in response to feedback from the U.S. Securities and Exchange Commission (SEC). The SEC had requested clarifications on certain concerns, and it appears that Ark Invest has addressed these concerns in its new filing. One notable change in […]
United States supermarket chain Trader Joe’s has filed a complaint against decentralized exchange Trader Joe, accusing it of federal trademark infringement and dilution. The lawsuit claims that Trader Joe and its co-founder Cheng Chieh Liu used the supermarket’s ideas and narrative for one of the platform’s fictional characters, as well as a similar name and […]
Amidst ongoing legal proceedings, new testimonies have emerged against Sam Bankman-Fried (SBF) and his operations. A former engineer at Alameda Research, the sister hedge fund of FTX, has come forward with revelations of substantial losses in trading funds totaling at least $190 million. Aditya Baradwaj, the individual in question, has provided a detailed account of […]
Alameda Research, a company affiliated with FTX, is set to receive $175 million from Genesis Global Holdco as part of a settlement agreement approved by the United States Bankruptcy Court for the Southern District of New York. This development comes amidst the ongoing trial of Sam Bankman-Fried, which has shed light on alleged financial misconduct […]
The United States Commodity Futures Trading Commission (CFTC) has taken legal action against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. The CFTC has filed a complaint in the U.S. District Court for the Southern District of New York, accusing Ehrlich and Voyager of fraud and “registration failures” related to the platform […]
Former Alameda Research CEO Caroline Ellison has accused former FTX CEO Sam Bankman-Fried of instructing her to commit fraud. According to court transcripts from Bankman-Fried’s trial, Ellison claims that Alameda, the trading arm of FTX, used around $14 billion of the exchange’s customers’ funds for investments between 2020 and 2022. Ellison alleges that Bankman-Fried “set […]
Cryptocurrency company Genesis has suspended customer withdrawals in its lending unit, adding to the challenges faced by the digital currency industry. This comes after the company filed for bankruptcy earlier this year due to the Gemini exchange’s refusal to facilitate customer withdrawals. The situation has escalated, leading to legal intervention and a settlement between Genesis […]
During a recent crisis involving the real-estate-backed stablecoin Real USD (USDR), a trader suffered a significant loss after swapping 131,350 USDR for 0 USD Coin (USDC). The swap took place on the BNB Chain through decentralized exchange OpenOcean, at a time when USDR had depegged from its par value by nearly 50% due to a […]
In the ongoing trial of Sam Bankman-Fried, the creator of FTX, shocking revelations have emerged from the testimony of Caroline Ellison, his former partner and ex-head of Alameda Research. Ellison’s testimony has uncovered a potential conspiracy to manipulate the price of Bitcoin, which has significant implications for the cryptocurrency market.According to Ellison, she presented a […]
