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FTX bankruptcy estate sues Anthony Scaramucci and SkyBridge Capital

FTX and Alameda Research collapsed in November 2022, causing approximately $8 billion in losses to customers of the now-bankrupt exchange.

The FTX bankruptcy estate seeks to recover over $100 million from SkyBridge Capital and founder Anthony Scaramucci to recoup funds spent by former FTX CEO Sam Bankman-Fried (SBF) on sponsorship and investment deals with Scaramucci and SkyBridge dating back to 2022.

According to the November 8 legal filing, Bankman-Fried made a series of investments and collaborative partnerships with SkyBridge Capital and Scaramucci before the collapse of FTX — beginning with a $12 million sponsorship of Scaracmucci's SALT conference in January 2022. Shortly after, in March 2022, SBF directed Alameda Research to invest $10 million in the SkyBridge Coin Fund.

FTX lawsuit against SkyBridge and Scaramucci. Source: Kroll

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DePIN needs thoughtful regulation — not lawsuits

Former FTX Executive Caroline Ellison Set To Begin Two-Year Prison Sentence for Role in FTX Fiasco

Former FTX Executive Caroline Ellison Set To Begin Two-Year Prison Sentence for Role in FTX Fiasco

Former FTX executive Caroline Ellison is set to start her two-year prison term in Connecticut. According to a new report by CNBC, a Bureau of Prison (BOP) spokesperson said that Caroline Ellison – the former CEO of FTX’s sister company Alameda Research – will begin her two-year sentence after serving as the prosecution’s star witness. […]

The post Former FTX Executive Caroline Ellison Set To Begin Two-Year Prison Sentence for Role in FTX Fiasco appeared first on The Daily Hodl.

DePIN needs thoughtful regulation — not lawsuits

Convicted FTX executive Ryan Salame is officially in prison custody

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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DePIN needs thoughtful regulation — not lawsuits

FTX creditors only getting ’10-25% of their crypto back’ — creditor

Following the collapse of the FTX exchange, the FTT token collapsed by more than 80% and wiped away over $2 billion in customer value. 

FTX creditors will only get 10-25% of their cryptocurrency back, according to newly revised bankruptcy documents shared by FTX creditor Sunil Kavuri.

The FTX creditor-activist explained that the creditors would receive reimbursements according to the petition date when cryptocurrency prices were much lower than today. To put this into perspective, the price of Bitcoin (BTC) was approximately $16,000 at the time the legal petition was filed.

The decision to reimburse creditors and customers using petition date prices sparked outrage among FTX creditors, Kavuri told Cointelegraph:

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DePIN needs thoughtful regulation — not lawsuits

Ex-Alameda Research CEO Caroline Ellison Sentenced to Two Years in Prison for Role in FTX Implosion: Report

Ex-Alameda Research CEO Caroline Ellison Sentenced to Two Years in Prison for Role in FTX Implosion: Report

The former CEO of FTX sister company Alameda Research reportedly received a sentence of two years in prison on Tuesday. Caroline Ellison, who is one of disgraced FTX founder Sam Bankman-Fried’s top advisors and ex-girlfriend, served as star witness in the FTX trial that ended with the former crypto golden boy’s conviction on seven counts of […]

The post Ex-Alameda Research CEO Caroline Ellison Sentenced to Two Years in Prison for Role in FTX Implosion: Report appeared first on The Daily Hodl.

DePIN needs thoughtful regulation — not lawsuits

Ex-Alameda CEO Caroline Ellison Receives 24-Month Sentence

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 […]

DePIN needs thoughtful regulation — not lawsuits

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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DePIN needs thoughtful regulation — not lawsuits

FTX Founder Sam Bankman-Fried Demands New Trial, Says Judge Presumed Guilt and Derided Him in Front of Jury

FTX Founder Sam Bankman-Fried Demands New Trial, Says Judge Presumed Guilt and Derided Him in Front of Jury

Disgraced FTX founder Sam Bankman-Fried is calling for a new trial, alleging that everyone including the presiding judge had already presumed his guilt before his legal battle even started. In a new filing with the US Court of Appeals for the Second Circuit, lawyers for Bankman-Fried say that their client witnessed nothing but one-sided rulings […]

The post FTX Founder Sam Bankman-Fried Demands New Trial, Says Judge Presumed Guilt and Derided Him in Front of Jury appeared first on The Daily Hodl.

DePIN needs thoughtful regulation — not lawsuits

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

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 […]

DePIN needs thoughtful regulation — not lawsuits

FTX Co-Founder Sam Bankman-Fried Seeks Retrial, Alleges Legal Errors

FTX Co-Founder Sam Bankman-Fried Seeks Retrial, Alleges Legal ErrorsSam Bankman-Fried, co-founder of FTX, has filed an appeal against his conviction, arguing that key evidence was improperly excluded from his trial. His attorneys claim that legal errors denied him a fair trial and seek a retrial with a different judge. Sam Bankman-Fried’s Appeal Targets Conviction Over Alleged Legal Missteps In an appeal filed with […]

DePIN needs thoughtful regulation — not lawsuits