Sam Bankman-Fried Found Guilty on All Charges
- The New York Jurors took 4 fours of deliberating before pronouncing the former FTX CEO guilty of all seven charges of fraud and conspiracy to commit fraud.
- Bankman-Fried will now have to appear in court on 28 March, 2024, where he will face a potential maximum sentence of 115 years in prison.
November 3, 2023, 8:54 AM
Former CEO of FTX Sam Bankman-Fried leaves the Federal Court in New York after pleading not guilty, 3 January, 2022.
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FTX, Alameda Wallets Move $13M to Exchanges
- A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
- The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
November 1, 2023, 2:27 PM
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Unibot to Compensate Users Affected by Exploit
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
October 31, 2023, 3:01 PM
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Thai Banking Giant KBank Acquires Crypto Exchange Satang
- One of the largest banks in Thailand, Kasikornbank (KBank), acquired local crypto exchange Satang for $103 million only a month after setting-up a $100 million fund for web3, fintech, and AI.
- Once the acquisition has been completed, KBank plans to rebrand Satan to Orbix, and separate the business into three divisions, a custody platform, crypto venture arm, and blockchain development.
October 30, 2023, 12:50 PM
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Oct 24, 2023
Sam Bankman-Fried’s First Expert Witness to Rebuke DoJ Witnesses
- Joseph Pimbley, a member of litigation consulting firm PF2 Securities, will try to rebuff testimonies from Caroline Ellison, Gary Wang, Nishad Singh, and Adam Yedidia.
- During his testimony Pimbley will try to establish a timeline for the FTX-Alameda line of credit, and convince the jury it fluctuated between $1 billion and $3 billion between 2021 and 2022.
Oct 19, 2023
NY Attorney General Sues DGC, Genesis, and Gemini for Fraud
- An investigation from the New York Attorney General’s office has allegedly found that Gemini was aware of Genesis’ weak financial position, but still lied to investors.
- The lawsuit is looking to ban DCG, Genesis, and Gemini from the New York financial industry, seek restitutions for investments, and the return of “ill-gotten gains”.
Oct 6, 2023
THORSwap Ethers Maintenance Mode Due to Illicit Activity
- The DEX said it will remain under maintenance mode until a more permanent solution to counter the movement of illicit funds through the platform is implemented.
- THORSwap has seen a rise in popularity amongst bad actors, and was even used earlier this month by a hacker connected to the $600 million FTX hack from last year.
Oct 5, 2023
Sam Bankman-Fried’s Trial Goes Into Day Two
- The prosecution tried to paint FTX’s founder as someone who deliberately deceived his customers to get rich, and noted that he directed all activities that led to the failure of the company.
- The defense’s claimed SBF was an entrepreneur whose plans simply “didn’t work out”, and tried to cast the blame for Alameda’s downfall to its former CEO Caroline Ellison.
Oct 4, 2023
DoJ Says Lack of U.S. Crypto Laws Irrelevant in SBF Lawsuit
- Sam Bankman-Fried’s legal counsel had claimed he should not be charged with any crimes involving FTX as it was not regulated in the U.S., only FTX.US was.
- The DoJ said the claim was irrelevant as SBF was charged for violating existing laws for misappropriating customer assets.
Sep 27, 2023
Binance Sells Russian Business, to Exit Country
- The popular crypto exchange has decided to sell its business in Russia to CommEX, a crypto exchange business that was officially launched on Tuesday.
- Binance noted that it will fully exit the Russian market, and have no ongoing revenue split or any option to buy back shares in the business.