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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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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

Alameda Boss Caroline Ellison Reports to Federal Prison for Role in FTX Scandal

Bitcoin.com
Alameda Boss Caroline Ellison Reports to Federal Prison for Role in FTX Scandal
bitcoin.com
Alameda Boss Caroline Ellison Reports to Federal Prison for Role in FTX ScandalCaroline Ellison, former chief executive of Alameda Research and a pivotal witness in the case against FTX founder Sam Bankman-Fried, has reported to a low-security federal prison in Connecticut following her two-year sentence, according to a CNBC report. Reporter MacKenzie Sigalos and Dawn Giel wrote that Ellison, who cooperated extensively with federal prosecutors, was instrumental […]
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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

Ex-FTX exec sentenced to time served after guilty plea

Coin Telegraph
Ex-FTX exec sentenced to time served after guilty plea
Coin Telegraph

Nishad Singh will receive no prison time after pleading guilty to six felony charges in February 2023, cooperating with prosecutors and FTX’s debtors after the exchange’s collapse.

A federal judge has sentenced Nishad Singh, the former engineering director of FTX, to time served and three years of supervised release for his role in misappropriating user funds and campaign finance violations.

In an Oct. 30 hearing in the United States District Court for the Southern District of New York, Judge Lewis Kaplan sentenced the 29-year-old Singh to time served. He was the fourth individual named in the indictment of FTX executives to stand before a judge following sentencing hearings for former CEO Sam Bankman-Fried, former Alameda Research CEO Caroline Ellison, and former FTX Digital Markets co-CEO Ryan Salame.

According to reporting from the courtroom by Inner City Press, Singh’s lawyers alleged “most of” the fraud at FTX was the result of Bankman-Fried’s and Ellison’s actions. The former FTX executive said he was “overwhelmed with remorse” for his role.

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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

FTX CEO hints Nishad Singh should remain free to assist bankruptcy case

Coin Telegraph
FTX CEO hints Nishad Singh should remain free to assist bankruptcy case
Coin Telegraph

John Ray, who took over as FTX CEO in November 2022, suggested Nishad Singh’s cooperation in the firm’s bankruptcy would be “important to maximize recovery” for creditors.

Scheduled to be sentenced on the afternoon of Oct. 30, former FTX engineering director Nishad Singh has submitted an eleventh-hour letter from the company’s current CEO, who said he would provide “further assistance and cooperation” in the firm’s bankruptcy case.

In an Oct. 29 filing in the United States District Court for the Southern District of New York, Singh’s lawyers filed a sentencing letter from FTX Trading Ltd. CEO John Ray detailing the former engineering director’s assistance in the firm’s Chapter 11 case. According to the FTX CEO, Signh assisted the FTX debtors with information about the firm’s computers shortly after the firm filed for bankruptcy, provided relevant documents, and helped return Bahamian property purchased with company funds.

Source: SDNY

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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

Bankrupt FTX Inks Over $227,000,000 Settlement With Bybit To Recover Stakeholder Funds

The Daily Hodl
Bankrupt FTX Inks Over 7,000,000 Settlement With Bybit To Recover Stakeholder Funds
Bybit
Bankrupt FTX Inks Over 7,000,000 Settlement With Bybit To Recover Stakeholder Funds

The bankrupt crypto exchange FTX has reached a settlement with the digital asset exchange Bybit to the tune of hundreds of millions of dollars. Last week, FTX’s legal team submitted a motion approving a settlement agreement with Bybit stemming from FTX’s claims that Bybit had refused to allow the bankrupt firm to withdraw assets currently […]

The post Bankrupt FTX Inks Over $227,000,000 Settlement With Bybit To Recover Stakeholder Funds appeared first on The Daily Hodl.

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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

FTX settles lawsuit against the Bybit exchange for $228 million

Coin Telegraph
FTX settles lawsuit against the Bybit exchange for 8 million
Bankruptcy

The prices of Bitcoin and other digital assets were significantly lower during the 2022 collapse of FTX compared to current market prices.

The FTX bankruptcy estate agreed to a $228 million settlement with the Bybit exchange in an Oct. 24 legal filing, for a lawsuit first filed in 2023 by the FTX estate, seeking to recover funds to repay former customers and creditors.

According to the legal filing, the settlement agreement will allow FTX to withdraw $175 million in digital assets held on Bybit and sell approximately $53 million in BIT tokens to Mirana Corp — an investment division of the Bybit exchange. Attorneys for FTX noted that while their claims have merit, further litigation would prove cumbersome:

The settlement deal must still be approved by a court, and a hearing to ratify the agreement between the two parties is scheduled for November 20, 2024, at 2 PM Eastern time.

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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

US gov’t cites ex-FTX exec’s ‘exemplary cooperation’ before sentencing

Coin Telegraph
US gov’t cites ex-FTX exec’s ‘exemplary cooperation’ before sentencing
Coin Telegraph

Prosecutors asked Judge Lewis Kaplan to consider Nishad Singh’s “substantial assistance” to the government in its case against Sam Bankman-Fried at sentencing.

Prosecutors said former FTX engineering director Nishad Singh, who pleaded guilty and cooperated with authorities, provided “substantial assistance” to the United States government, hinting the judge should be lenient at sentencing.

In an Oct. 23 filing in the US District Court for the Southern District of New York, US Attorney Damian Williams asked Judge Lewis Kaplan to consider Singh’s cooperation, which helped in the prosecution of former FTX CEO Sam “SBF” Bankman-Fried and former FTX Digital Markets co-CEO Ryan Salame. Singh is scheduled to appear before the judge on Oct. 30 for sentencing after pleading guilty to fraud and conspiracy charges in 2023.

According to prosecutors, Singh’s testimony at SBF’s trial was a “core part” of the government’s case by helping the jury understand “how FTX’s code permitted the illegal use of customers’ funds” and “identif[ying] in detail the transactions by Bankman-Fried that involved the use of stolen money.”

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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

US Regulators Extract $19,000,000,000 From Crypto Firms Through Enforcement Actions This Year: CoinGecko

The Daily Hodl
US Regulators Extract ,000,000,000 From Crypto Firms Through Enforcement Actions This Year: CoinGecko
CFTC
US Regulators Extract ,000,000,000 From Crypto Firms Through Enforcement Actions This Year: CoinGecko

A new report from crypto data aggregator CoinGecko reveals that US regulators have so far secured more than $19 billion in settlements from the digital asset industry in 2024. CoinGecko says the largest crypto enforcement action by monetary value as of October 9th was against bankrupt crypto exchange FTX and its affiliated trading firm Alameda […]

The post US Regulators Extract $19,000,000,000 From Crypto Firms Through Enforcement Actions This Year: CoinGecko appeared first on The Daily Hodl.

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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

Convicted FTX executive Ryan Salame is officially in prison custody

Coin Telegraph
Convicted FTX executive Ryan Salame is officially in prison custody
Coin Telegraph

During a recent appearance on Tucker Carlson's podcast, Salame claimed federal prosecutors unfairly targeted him for political reasons. 

Convicted, former FTX executive Ryan Salame submitted himself to prison custody on October 11, 2024, at FCI Cumberland, according to Bureau of Prison records viewed by Cointelegraph.

Salame was sentenced to 90 months in prison for his role in the 2022 FTX collapse after pleading guilty to operating an unregulated money-transmitting business and campaign finance charges in 2023.

The former FTX executive attempted to delay his October 11 surrender date until December 7, 2024 — citing ongoing medical treatment for a dog bite — a motion strongly opposed by prosecutors and denied by Judge Lewis Kaplan in an October 10 ruling.

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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

‘Inmate at FCI Cumberland’: Former FTX Exec Ryan Salame Updates LinkedIn Title After Judge Orders Him to Prison

The Daily Hodl
‘Inmate at FCI Cumberland’: Former FTX Exec Ryan Salame Updates LinkedIn Title After Judge Orders Him to Prison
Daily Hodl
‘Inmate at FCI Cumberland’: Former FTX Exec Ryan Salame Updates LinkedIn Title After Judge Orders Him to Prison

Former FTX executive Ryan Salame has a new LinkedIn job title. Salame trolled his social media followers on Thursday after District Judge Lewis A. Kaplan shot down a request to delay the start of his incarceration until December. The former co-CEO of FTX Digital Markets reported to prison on Friday, but not before posting on […]

The post ‘Inmate at FCI Cumberland’: Former FTX Exec Ryan Salame Updates LinkedIn Title After Judge Orders Him to Prison appeared first on The Daily Hodl.

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As February Winds Down, Bitcoin Miners See a 0M Drop in Revenue

As February Winds Down, Bitcoin Miners See a $190M Drop in Revenue

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