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Crypto lender Blockfi announced that it will begin interim crypto distributions via Coinbase this month. U.S. clients will receive notifications, while non-U.S. clients face regulatory restrictions. Blockfi, which filed for bankruptcy protection in November 2022, is now collaborating with Coinbase to maintain withdrawals and plan future distributions, including those recovered from FTX. Blockfi to Begin … Read more
The US commodities regulator didn’t seek a civil monetary penalty, meaning the entire $12.7 billion would be used to pay back FTX’s creditors. Go to Source
Former FTX executives Nishad Singh and Gary Wang, who both testified at Sam Bankman-Fried’s criminal trial, are scheduled to be sentenced later this year. Go to Source
Sam Bankman-Fried’s political donation activities were allegedly a family affair, involving his brother, mother, and father. Bankman-Fried, the founder of FTX, reportedly directed over $100 million in political contributions with his family’s help, according to emails reviewed by the Wall Street Journal (WSJ) and reporter Alexander Osipovich. Wall Street Journal Report Uncovers Bankman-Fried Family’s Alleged … Read more
Yield App, a platform for earning interest, buying, and swapping cryptocurrencies, announced on social media platform X Friday the suspension of all activities in preparation for liquidation proceedings. The Seychelles-based company halted operations due to significant portfolio losses from third-party hedge fund managers on the failed cryptocurrency exchange FTX, which are currently under litigation. To … Read more
Ripple CEO Brad Garlinghouse has criticized SEC Chair Gary Gensler’s recent statements on the crypto industry, calling them “absolute nonsense.” The executive argued that Gensler’s actions and oversight failures could impact the upcoming election. He suggested that Gensler should be fired if he truly worked for the American people. Ripple CEO Brad Garlinghouse Criticizes SEC … Read more
FTX lawyers stressed that in-kind crypto payouts would clash with bankruptcy laws but several creditors feel shortchanged by the proposed cash repayments plan. Go to Source
Hybrid, non-custodial exchanges could help restore industry trust in crypto but CEXs remain key for onboarding new users. Go to Source
Contributions to Michelle Bond’s 2022 congressional campaign were part of a criminal investigation into her partner, Ryan Salame. Go to Source
According to a local report, the Japan-based crypto exchange Bitflyer has acquired the failed Japanese unit of FTX. The report indicates that arrangements are currently underway to take over the business. Bitflyer Acquires Bankrupt FTX Japan, Local Report Claims On June 20, 2024, NHK reported that Japan’s Bitflyer acquired the now-defunct Japanese unit of FTX. … Read more
