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Former FTX Executive Gary Wang Avoids Prison Time After Building Crypto Surveillance Tools for Government: Report

The Daily Hodl
Former FTX Executive Gary Wang Avoids Prison Time After Building Crypto Surveillance Tools for Government: Report
Alameda Research
Former FTX Executive Gary Wang Avoids Prison Time After Building Crypto Surveillance Tools for Government: Report

The former chief technology officer of disgraced crypto exchange FTX is dodging prison time by cooperating with the US government. According to a report from Reuters, Wang – a computer programmer who unwittingly wrote the code that allowed former FTX CEO Sam Bankman-Fried to steal billions of dollars from customers – is being spared prison […]

The post Former FTX Executive Gary Wang Avoids Prison Time After Building Crypto Surveillance Tools for Government: Report appeared first on The Daily Hodl.

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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Ex-Alameda exec Trabucco gives up yacht, apartments in FTX settlement

Coin Telegraph
Ex-Alameda exec Trabucco gives up yacht, apartments in FTX settlement
Alameda Research

Sam Trabucco left Alameda Research months before the FTX collapse and kept his head down — probably on his yacht Soak My Deck.

FTX, FTX Digital Markets and former Alameda Research co-CEO Sam Trabucco have reached a settlement agreement in the United States Bankruptcy Court for the District of Delaware. Trabucco has maintained a low profile since leaving FTX just months before its collapse.

In a motion that will be heard on Dec. 12, the parties agreed that Trabucco will transfer the titles to two apartments in San Francisco worth $8.7 million and his 53-foot yacht worth $2.5 million to FTX Debtors. In addition, he will drop claims against FTX worth $70 million and FTX will release him from any claims it had as well.

These decisions come after “constructive, arm’s length negotiations.” If forced into litigation, Trabucco would have defenses and claims that would lead to lengthy and costly proceedings. The motion states:

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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Ex-Alameda Research CEO to report to prison for 2-year sentence

Coin Telegraph
Ex-Alameda Research CEO to report to prison for 2-year sentence
Alameda Research

Caroline Ellison has been free on bail since her guilty plea in 2022, testifying at Sam Bankman-Fried’s criminal trial and subject to intense scrutiny by the media.

Former Alameda Research CEO Caroline Ellison is expected to report to prison on Nov. 7 to serve her two-year sentence for her role in crimes at cryptocurrency exchange FTX.

At the time of publication, the Federal Bureau of Prisons (BOP) website stated Ellison was not in custody but provided an inmate number and her age, race and sex. On Sept. 24, Judge Lewis Kaplan of the United States District Court for the Southern District of New York sentenced Ellison to two years in prison, where she is expected to surrender no earlier than Nov. 7.

Source: Federal Bureau of Prisons

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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Ex-Alameda CEO Caroline Ellison Receives 24-Month Sentence

Bitcoin.com
Ex-Alameda CEO Caroline Ellison Receives 24-Month Sentence
Alameda Research
Ex-Alameda CEO Caroline Ellison Receives 24-Month SentenceOn Tuesday, Sept. 24, 2024, Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison after admitting to her involvement in several crimes. The courtroom banned cameras, video, and phone recordings during the sentencing. Even though the judge commended her in court, saying, “I’ve seen a lot of cooperators in […]
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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

SEC Fines Prager Metis $1.95M Over Negligent FTX Audits

Bitcoin.com
SEC Fines Prager Metis .95M Over Negligent FTX Audits
Alameda Research
SEC Fines Prager Metis .95M Over Negligent FTX AuditsThe U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights and violations of key industry standards, raising questions about the firm’s practices and the risks it missed. “Prager’s […]
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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

US gov’t cites Caroline Ellison’s ‘extraordinary cooperation’ before sentencing

Coin Telegraph
US gov’t cites Caroline Ellison’s ‘extraordinary cooperation’ before sentencing
Alameda Research

Lawyers representing the former Alameda Research CEO have requested time served and supervised release — an outcome that appeared more likely after a filing by US Attorneys.

Former Alameda Research CEO Caroline Ellison, set to face a sentencing hearing on Sept. 24, may receive a lenient sentence after a recommendation from United States prosecutors. 

In a Sept. 17 filing in the US District Court for the Southern District of New York, US Attorneys wrote to Judge Lewis Kaplan to inform him of Ellison’s “extraordinary cooperation” in the prosecution of former FTX CEO Sam “SBF” Bankman-Fried, as well as her assistance into the “wrongdoing at Alameda Research and FTX.” According to prosecutors, she provided “credible and compelling testimony” against Bankman-Fried at trial and was “forthcoming about her own grave misconduct” in FTX’s collapse. 

“Ellison played a core role in Bankman-Fried’s criminal schemes, but as the Government noted in Bankman-Fried’s sentencing submission, only he was involved in all aspects of the schemes,” said the filing. “Ellison never worked at FTX and played no role in designing the coding systems that granted Alameda special treatment on FTX and permitted Alameda to accrue a negative balance on FTX by withdrawing FTX customer funds.”

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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Former Alameda CEO Caroline Ellison Requests Leniency, Asks for No Prison Sentence

Bitcoin.com
Former Alameda CEO Caroline Ellison Requests Leniency, Asks for No Prison Sentence
Alameda Research
Former Alameda CEO Caroline Ellison Requests Leniency, Asks for No Prison SentenceCaroline Ellison, the former CEO of Alameda Research, is seeking leniency in her sentencing for her role in the FTX fraud. Her lawyers have filed a sentencing memorandum emphasizing her extensive cooperation with authorities and personal acceptance of responsibility for her actions. Caroline Ellison’s Lawyers Push for No Jail Time in FTX Fraud Case In […]
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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

FTX’s Caroline Ellison To Be Sentenced This Month for Role in Collapse of Crypto Exchange: Court Documents

The Daily Hodl
FTX’s Caroline Ellison To Be Sentenced This Month for Role in Collapse of Crypto Exchange: Court Documents
Alameda Research
FTX’s Caroline Ellison To Be Sentenced This Month for Role in Collapse of Crypto Exchange: Court Documents

New court documents reveal that former FTX executive Caroline Ellison is set to be sentenced later this month for her role in the multi-billion-dollar downfall of the crypto exchange in 2022. According to new court filings, Ellison – who once was the girlfriend of jailed FTX co-founder Sam Bankman-Fried and the CEO of FTX’s sister […]

The post FTX’s Caroline Ellison To Be Sentenced This Month for Role in Collapse of Crypto Exchange: Court Documents appeared first on The Daily Hodl.

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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

US Court Orders FTX and Alameda to Pay Fraud Victims $12.7 Billion in Historic CFTC Recovery

Bitcoin.com
US Court Orders FTX and Alameda to Pay Fraud Victims .7 Billion in Historic CFTC Recovery
Alameda Research
US Court Orders FTX and Alameda to Pay Fraud Victims .7 Billion in Historic CFTC RecoveryA U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of Enforcement, emphasized that this multibillion-dollar recovery is the largest recovery in CFTC history. FTX and Alameda Ordered […]
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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Alameda-Backed Mining Firm Genesis Digital Assets Considering IPO in US: Report

The Daily Hodl
Alameda-Backed Mining Firm Genesis Digital Assets Considering IPO in US: Report
Alameda Research
Alameda-Backed Mining Firm Genesis Digital Assets Considering IPO in US: Report

A Bitcoin (BTC) mining firm backed by disgraced FTX founder Sam Bankman-Fried is reportedly considering an initial public offering (IPO) in the US. According to a new report by Bloomberg, anonymous sources familiar with the matter say that Genesis Digital Assets, which is backed by Alameda Research, is currently working with advisors on the potential listing. […]

The post Alameda-Backed Mining Firm Genesis Digital Assets Considering IPO in US: Report appeared first on The Daily Hodl.

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Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

Strategic Bitcoin Reserve Can Pay Off Over a Third of US National Debt by 2050, According to VanEck Executive

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