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

September 23, 2024 Bitcoin.com

Blockfi Receives 0M USDC Deposit, Sparking Hopes for Creditor Repayments

Onchain 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 […]

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Crypto Hedge Fund Galois Capital Fined $225,000 by SEC for Custody Rule Violations

September 3, 2024 Bitcoin.com

Crypto Hedge Fund Galois Capital Fined 5,000 by SEC for Custody Rule Violations

advisory firm

The U.S. Securities and Exchange Commission (SEC) has slapped Galois Capital Management LLC with a $225,000 fine for falling short of the Custody Rule laid out in the Investment Advisers Act. The crypto-centric hedge fund and advisory firm was also accused of misleading investors about the redemption process. SEC Charges Galois Capital According to the […]

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Japanese exchange BitFlyer to acquire FTX Japan

June 20, 2024 Coin Telegraph

Bankruptcy

FTX Japan, a Japanese subsidiary of the collapsed FTX exchange, is preparing to return with a new owner after repaying its customers in 2023.

Japanese cryptocurrency exchange BitFlyer will acquire the Japanese arm of the collapsed FTX trading platform, according to local media reports.

BitFlyer Holdings is in the process of acquiring FTX Japan in a deal expected to be worth billions of yen, or tens of millions of dollars, the local news agency Nikkei reported on June 20.

Following the acquisition, FTX Japan's core business is reportedly planned to shift to crypto asset management or custody, targeting institutional investors.

Ripple, Coinbase, Kraken Bet Big on Pro-Crypto Trump, Paving the Way for Crypto’s Bright Future

Spokesperson Hints at Sam Bankman-Fried’s Possible Move to California Prison

May 23, 2024 Bitcoin.com

bitcoin.com

According to the Wall Street Journal, the convicted FTX co-founder Sam Bankman-Fried (SBF) is being transferred from the Metropolitan Detention Center in Brooklyn to an undisclosed location. Sources speculate that SBF might be headed to the Federal Correctional Institution in Mendota, California (FCI Mendota). SBF’s Potential Transfer to FCI Mendota Speculated A Wall Street Journal […]

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Former Alameda Research Boss Sam Trabucco Reemerges to Defend Ryan Salame Before Sentencing

May 16, 2024 Bitcoin.com

Adam Cochran

Reports indicate that Sam Trabucco, the former co-CEO of the cryptocurrency trading firm Alameda Research, penned a letter to the judge set to sentence Ryan Salame, co-CEO of FTX Digital Markets. Trabucco’s letter emerged amidst numerous inquiries about his whereabouts throughout the ongoing turmoil. In his message, Trabucco referred to Salame as his “best friend” […]

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DOJ rejects Sullivan & Cromwell, picks FRA for Binance’s monitorship

May 10, 2024 The Crypto Briefing

Crypto Briefing

FRA is set to monitor Binance for compliance with a DOJ plea deal, following Binance's admission of regulatory violations.

The post DOJ rejects Sullivan & Cromwell, picks FRA for Binance’s monitorship appeared first on Crypto Briefing.

Ripple, Coinbase, Kraken Bet Big on Pro-Crypto Trump, Paving the Way for Crypto’s Bright Future

FTX creditors seek repayments at current market rates

May 8, 2024 The Crypto Briefing

Business

FTX's new compensation plan faces opposition as creditors demand repayments based on current asset values, not bankruptcy figures.

The post FTX creditors seek repayments at current market rates appeared first on Crypto Briefing.

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History of Crypto: Crippling inflation, rising debt, and the evolving crypto landscape

April 16, 2024 Coin Telegraph

Bitcoin

The 2022–2023 period saw several bad actors wiped from the cryptocurrency industry, none bigger than FTX’s Sam Bankman-Fried.

The cryptocurrency market took a beating in 2022, falling more than 70% during a time when the industry made headlines around the world for all the wrong reasons — from FTX’s bankruptcy and Sam Bankman-Fried’s arrest to the $50 billion collapse of the Terra ecosystem.

The United States also saw inflation hit a 40-year high as the country’s national debt figure continued to rise.

But it wasn’t all doom and gloom. In September 2022, Ethereum made the long-awaited transition to a proof-of-stake network, and Bitcoin’s hash rate increased threefold throughout the year. The market also rebounded strongly in 2023.

Ripple, Coinbase, Kraken Bet Big on Pro-Crypto Trump, Paving the Way for Crypto’s Bright Future

Sam Bankman-Fried sentenced to 25 years in prison

March 28, 2024 The Crypto Briefing

Sam Bankman-Fried has been sentenced to 25 years in prison for running a crypto scam business that devastated thousands of investors.

Ripple, Coinbase, Kraken Bet Big on Pro-Crypto Trump, Paving the Way for Crypto’s Bright Future

Crypto Lender Genesis Requests US Bankruptcy Court to Approve ‘Settlement Principle’

March 20, 2024 Bitcoin.com

Bankruptcy Court

The insolvent cryptocurrency lender, Genesis, has petitioned a U.S. bankruptcy court to approve a proposed settlement principle announced on Feb. 28. According to an update, if the court approves the settlement, Genesis Earn users will receive all of their digital assets back in kind. The bankruptcy court is scheduled to consider Genesis’ request to approve […]

FTX collapse