In a cyberattack incident, the claims agent responsible for bankruptcy cases involving Genesis Global Holdco, FTX, and BlockFi, revealed that it had fallen victim to a data breach. As a result, the personal data of hundreds of claimants may have been compromised. Kroll, a business-services company, reported that hackers conducted a SIM-swapping attack on T-Mobile …
Sam Bankman-Fried, the co-founder and CEO of FTX, was recently featured in a study from the Network Contagion Research Institute (NCRI). The study discovered that rampant Twitter bots played a major role in inflating the prices of cryptocurrencies, including coins traded by insiders at FTX’s hedge fund Alameda Research, before its collapse. The NCRI researchers …
In a recent court case in Podgorica, Montenegro, Hon Chang-joon, the business partner of cryptocurrency entrepreneur Do Kwon, the creator of the failed Terra (UST) stablecoin, has been taken to court. This development comes after a Manhattan federal judge ruled that regardless of how they are sold, cryptocurrencies are considered securities. This decision allows the …
Indicted FTX founder Sam Bankman-Fried departs from the U.S. Courthouse in New York City on July 26, 2023. Amr Alfiky | Reuters Federal prosecutors have dropped a campaign finance charge against Sam Bankman-Fried, marking the second time they have narrowed the indictment against the founder of the cryptocurrency exchange FTX. In a court hearing, prosecutors …
Major players in the banking industry, such as JPMorgan and Citi, are looking to revolutionize Wall Street by adopting a blockchain-based asset tokenization strategy. This innovative approach involves converting traditional assets into digital tokens, offering a range of benefits and diverse use cases. Elliot Han, the head of digital assets at Cantor Fitzgerald, remarks, “Once …
The Nauru ring road encircles the island nation of Nauru. (Image credit: Hadi Zaher | Moment | Getty Images) According to a lawsuit filed in the Delaware bankruptcy court, Gabe Bankman-Fried, the younger brother of Sam Bankman-Fried and a former lobbyist for the failed crypto exchange FTX, explored the idea of purchasing Nauru, an island …
Indicted FTX founder Sam Bankman-Fried exits United States Court in New York City, June 15, 2023. Mike Segar | Reuters Sam Bankman-Fried, co-founder of the unsuccessful cryptocurrency exchange FTX, faces a lawsuit in Delaware bankruptcy court alleging that he and members of his leadership team embezzled hundreds of millions of dollars. The attorneys representing the …
Overlooking the picturesque waterfront of Palm Jumeirah in Dubai, United Arab Emirates, you’ll find a skyline dotted with residential skyscrapers and luxurious villas. This captivating image captures the essence of an urban oasis, depicting the allure of the city’s architectural marvels. Christopher Pike | Bloomberg | Getty Images In a remarkable case of international fraud, …
Changpeng Zhao, billionaire and chief executive officer of Binance Holdings Ltd., speaks during a session at the Web Summit in Lisbon, Portugal, on Wednesday, Nov. 2, 2022. Zed Jameson | Bloomberg | Getty Images Cryptocurrency exchange Binance is implementing a workforce reduction due to an ongoing investigation by the Justice Department. It is anticipated that …
Coinbase’s arguments in its legal case against the U.S. Securities and Exchange Commission have been strengthened after a key court ruling went partially in favour of cryptocurrency firm Ripple, the U.S. exchange’s legal chief told CNBC on Friday. On Thursday, a U.S. judge ruled that XRP token purchases via exchanges were not securities transactions. The …