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FTX seeks to claw back $460M from Bankman-Fried-backed VC firm
23.3.2023
While the funds represent a small portion of FTX’s overall asset shortfall, the settlement means the firms can avoid a costly legal battle
FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders
18.3.2023
According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion...
FTX Firms Had $6.8B Hole in Balance Sheet at Time of Bankruptcy
17.3.2023
The group of companies had debts of about $11.6 billion against $4.8 billion in assets, according to a presentation filed by its advisers
Bitcoin dominance nears 50% as research hails 'bullish' narrative flip
16.3.2023
The comedown of the past nine months has disappeared during this week's bank crisis-inspired Bitcoin price surge
Central Bank Digital Currency Transactions to Reach $213 Billion Annually by 2030, Research Shows
15.3.2023
A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found. $213 Billion Annually Research and market intelligence firm...
Silvergate Bank 'Had to Be Perfect' but Now Pays a Heavy Price: Strategist
9.3.2023
But because they weren’t, the industry now is likely to have a difficult time attracting traditional firms into the crypto banking industry, Jim Bianco, president of Bianco Research LLC, says
Alameda Research to sell interest in Sequoia Capital for $45M to Abu Dhabi
9.3.2023
The investment branch of FTX, Alameda Research, reached an agreement to sell its interest in Sequoia Capital for $45 million in cash to the Abu Dhabi sovereign wealth fund
Alameda Research Sues Grayscale Investments Seeking to Unlock Billions in Value for Shareholders
7.3.2023
FTX Debtors and affiliate Alameda Research Ltd. have filed a lawsuit against Grayscale Investments, seeking injunctive relief to unlock $9 billion in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts. The debtors allege that “Grayscale has extracted over $1.3 billion...
First Mover Americas: Grayscale Bitcoin Trust at Issue in Court
7.3.2023
The latest price moves in bitcoin (BTC) and crypto markets in context for March 7, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets
FTX-Affiliated Alameda Research Sues Grayscale Over Crypto Investments, Adding to Woes for Digital Currency Group – What's Going On?
7.3.2023
In a last ditch move to 'maximise recoveries' Alameda Research has filed a lawsuit against Grayscale Investments.
The lawsuit alleges that Grayscale charge 'exorbitant management fees'. And named Grayscale CEO Michael Sonnenshein as it went on to accuse Grayscale of 'improperly preventing...
Alameda Research files suit against Grayscale over ‘self-imposed redemption ban’
6.3.2023
The FTX Debtors want to “unlock” $9 billion in share value and management fees that they dispute through the Delaware Court of Chancery
Alameda Sues Grayscale and DCG to Allow Redemptions, Reduce Fees
6.3.2023
The bankrupt trading firm is seeking injunctive relief to allow FTX debtors to realize what it claims is more than $250 million in asset value
US Prosecutors Seek to Further Restrict Former FTX CEO Sam Bankman-Fried’s Internet Access
5.3.2023
The U.S. attorney for the Southern District of New York (SDNY), Damian Williams, and the Department of Justice (DOJ) are requesting “proposed modifications” to the bail conditions of former FTX CEO, Sam Bankman-Fried. The SDNY prosecutor is asking the court to prohibit Bankman-Fried...
Reserve Bank of Australia Unveils Proposed CBDC Use Cases
5.3.2023
The Reserve Bank of Australia said on March 3 that it has selected 14 digital currency proposed use cases from a large number of submissions obtained from industry participants. An assistant governor at the RBA, Brad Jones, said the Aussie central bank is encouraged by the composition of providers...
Galaxy Digital Report Predicts Bitcoin NFT Market Could Reach $4.5 Billion by 2025
4.3.2023
As the number of Bitcoin-based Ordinal inscriptions nears the 300,000 mark, Galaxy Digital’s research team published a report on the subject that says the market size of non-fungible tokens (NFTs) built on Bitcoin could reach $4.5 billion over the next two years. The researchers at Galaxy...
FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation
3.3.2023
On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total...
FTX Has ‘Massive Shortfall’ in Assets, Say Bankruptcy Lawyers
2.3.2023
So far, $2.2 billion in assets have been identified in the wallets of accounts associated with FTX.com, of which only $694 million are in the most liquid assets
Crypto Long & Short: Decentralized Exchange Research Ramps up
1.3.2023
This week, Glenn Williams Jr. argues that decentralized exchanges (DEXes) have an intriguing road ahead amid the wreckage of FTX. Then, Kelly Chambers of THEIA8900 notes the digital-asset myopia among financial advisers focused on bitcoin (BTC) and Ethereum’s ETH
Former FTX Director Pleads Guilty to Charges of Fraud, Money Laundering, and US Campaign Finance Violations
28.2.2023
Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and stated, “I am unbelievably sorry for my role in all of this.” Singh Cooperating...
Alameda Gap Persists as Stunted Liquidity Holds Back Crypto Market
28.2.2023
February is ending, but the 'Alameda Gap' is not.
As the second month of this year is wrapping up, the prices in the crypto market have somewhat recovered from last year's crash. Still, the so-called 'Alameda Gap' resists filling, as the liquidity remains far from the levels seen before...