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SBF’s neurodivergence saw him ‘misinterpreted’ at trial, doctors argue

The court and jury could have misunderstood Sam Bankman-Fried’s behavior during his criminal trial due to his autism and attention deficit disorders, doctors wrote in a recent amicus brief.

Sam Bankman-Fried’s criminal trial could have been hurt because of his neurodivergence disorders, leading to “longwinded answers” that frustrated the court, says a group of doctors in an amicus brief supporting his appeal. 

The FTX co-founder is diagnosed with autism spectrum disorder (ASD) and attention-deficit/hyperactivity disorder (ADHD) that “posed serious challenges during proceedings in this case,” eight doctors focused on the field of neurodivergence told the Second Circuit Appeals Court in a Sept. 20 amicus brief supporting Bankman-Fried.

They claimed several rulings were detrimental to Bankman-Fried “because of his neurodivergence,” in particular the Manhattan district court’s ruling that government prosecutors could cross-examine him without a jury before he sat before jurors. 

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Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

Blockfi Receives $250M USDC Deposit, Sparking Hopes for Creditor Repayments

Blockfi Receives 0M USDC Deposit, Sparking Hopes for Creditor RepaymentsOnchain data reveals that Blockfi, a now-bankrupt crypto lending firm, received a hefty $250 million deposit (1, 2) to one of its flagged addresses, as reported by Arkham Intelligence. The news was shared on X at 12:43 p.m. EDT on Monday. “Blockfi received $250M in USDC from Coinbase Prime, bringing their onchain holdings up to […]

Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

Court approves Terraform Labs winding down in bankruptcy hearing

After collapsing in 2022, facing an SEC lawsuit in 2023, and filing for bankruptcy in 2024, many of Terraform’s legal cases in the US are beginning to wind down.

A judge approved Terraform Labs winding down its operations as part of the firm’s bankruptcy plan in the United States.

According to a Sept. 19 Reuters report, Judge Brendan Shannon of the US Bankruptcy Court for the District of Delaware approved Terraform’s bankruptcy plan. The company filed for Chapter 11 protection in January, claiming between $100 and $500 million in estimated liabilities and assets.

Judge Shannon reportedly called the plan a “welcome alternative” to further litigation to address investor losses. Terraform’s bankruptcy proceedings followed the US Securities and Exchange Commission (SEC) filing a lawsuit against the platform and its founder, Do Kwon, in February 2023.

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Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy

Terraform Labs Gets Court Approval to Wind Down Operations in BankruptcyTerraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors facing significant losses after the Terra ecosystem collapsed. Court Approves Terraform Labs Wind-Down Terraform Labs has been granted […]

Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

Silvergate Capital files for Chapter 11 bankruptcy in Delaware

The parent company of Silvergate Bank has listed assets ranging from $100 million to $500 million and liabilities between $10 million and $50 million.

Silvergate Capital Corporation, the parent company of Silvergate Bank, filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the District of Delaware. 

According to a filing on Sept. 17, the company has listed assets between $100 million and $500 million and liabilities ranging from $10 million to $50 million. The bankruptcy petition includes Silvergate’s two affiliates, Silvergate Liquidation Corporation and Spring Valley Lots, LLC.

Silvergate’s reorganization plan, filed as part of its Chapter 11 bankruptcy, proposes fully paying several types of debts, including administrative fees, taxes, and other high-priority claims like secured loans and professional fees. 

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Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

Elon Musk Warns US Laws and Regulations Will Worsen Every Year Without Major Reform

Elon Musk Warns US Laws and Regulations Will Worsen Every Year Without Major ReformTesla and Spacex CEO Elon Musk has warned that without substantial government reform, laws and regulations will worsen annually, potentially stifling major initiatives. He has reiterated his call for significant U.S. government changes and agreed to help former President Donald Trump lead a new government efficiency commission, an idea he proposed. Musk believes reducing wasteful […]

Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

Coinbase Legal Chief Criticizes SEC’s Vague Position on FTX Plan — Says Investors Deserve ‘Way Better’

Coinbase Legal Chief Criticizes SEC’s Vague Position on FTX Plan — Says Investors Deserve ‘Way Better’Coinbase’s chief legal officer has criticized the U.S. Securities and Exchange Commission (SEC) for its ambiguous position regarding FTX’s proposal to repay creditors using stablecoins or other cryptocurrencies. Although the SEC did not explicitly deem these transactions illegal, it retained the right to contest them, leading to frustration within the crypto community. This uncertainty has […]

Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

SEC Warns FTX Over Legality of Crypto Asset Distribution in Chapter 11 Plan

SEC Warns FTX Over Legality of Crypto Asset Distribution in Chapter 11 PlanThe U.S. Securities and Exchange Commission (SEC) has raised concerns over FTX’s plan to pay back claims using its “crypto asset securities.” The SEC’s Senior Trial Counsel, Therese Scheuer, has reserved the right to challenge these transactions under federal securities laws. FTX’s Crypto Repayment Plan Faces Potential SEC Challenge The FTX bankruptcy saga is moving […]

Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

Court Approves BTC Loan for Bankrupt Bitcoin Mining Firm

Court Approves BTC Loan for Bankrupt Bitcoin Mining FirmRhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin. […]

Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation

Bankrupt Bitcoin miner Rhodium gets court approval for loan in BTC or USD

The company was authorized to choose between receiving a $30 million or a 500 Bitcoin loan from Galaxy Digital.

Bitcoin mining firm Rhodium Enterprises, which recently filed for bankruptcy, has reportedly received court approval to take a loan in either United States dollars or in Bitcoin. 

The company was authorized to choose between receiving $30 million or 500 Bitcoin (BTC) from Galaxy Digital, a blockchain firm led by Mike Novogratz. However, the United States dollar loan would have a 14.5% annual interest while the interest rate on the Bitcoin loan is cheaper at 9.5%, according to a Bloomberg report. 

With the lender’s approval, Rhodium could repay the Bitcoin loan in US dollars based on the “reasonable published market spot prices” at the time of repayment prior to the due date.

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Crypto Services Firm Admits To Wash-Trading Coin Created by Feds in Undercover Operation