FTX Trading on Thursday sued founder Sam Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion (nearly Rs. 8,200 crore) they allegedly misappropriated before FTX went bankrupt. The complaint filed in Delaware bankruptcy court also names as defendants Caroline Ellison, who led Bankman-Fried’s…
Bankrupt cryptocurrency exchange FTX sued one of its former top lawyers, accusing him of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company. The complaint, filed on Tuesday in US Bankruptcy Court in Delaware, describes Daniel Friedberg, a former chief compliance officer at…
Cryptocurrency investors have grown more cautious about who they do business with, after being burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and others, and fearing a regulatory crackdown will put more pressure on remaining firms. The recent crypto platform bankruptcies trapped customer assets now worth…
The US affiliate of crypto giant Binance has carried out a round of layoffs since regulators last week charged it with violating securities laws and sought to freeze its assets, said two people with knowledge of the dismissals and employees’ social media posts. One of the sources said around 50…
OKX, one of the world’s largest cryptocurrency exchanges, is seeking regulatory approval to operate in Dubai as it plans to expand the company’s Middle East operations, an executive told Reuters on Thursday. Regulation is an industry trend, OKX Global Head of Government Relations Tim Byun said. “We would like to…
Cryptocurrency exchange Binance has not sold either bitcoin or Binance Coin, its native token, the company’s CEO Changpeng Zhao tweeted on Tuesday. Last week, Binance was sued by the US Securities and Exchange Commission, which listed 13 charges against the company, Zhao and the operator of its purportedly independent US…
Merit Peak, an offshore trading company controlled by Binance CEO Changpeng Zhao, received around $11 billion (nearly Rs. 90,890 crore) of client assets through a Seychelles-based firm set up to take customer deposits, a US Securities and Exchange Commission filing shows. The SEC filing, which on Tuesday asked a US…
Coinbase Global’s CEO Brian Armstrong said on Wednesday that the crypto exchange has a long history of being transparent with the US Securities and Exchange Commission. Armstrong was speaking in an interview with CNBC, a day after the company was sued by the US securities regulator on allegations it failed…
A US government default would trigger an initial pull-back from cryptocurrencies followed by a “push upward” the CEO of London-based crypto firm Blockchain.com said on Thursday. The US government could fall behind on its bills next month – and even default on its debt – if Congress does not raise…
Bankrupt crypto exchange FTX is seeking to claw back more than $240 million (nearly Rs. 2,000 crore) it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX filed three lawsuits late Wednesday in US Bankruptcy Court in…
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