A New York bankruptcy judge has approved a settlement between cryptocurrency firms FTX and Genesis Global Trading (GGC), allowing FTX-affiliated Alameda Research to receive $175 million from GGC. The settlement agreement was given the green light by the United States Bankruptcy Court for the Southern District of New York. As part of the agreement, Genesis […]
The spot trading volume of Coinbase, one of the largest crypto exchanges in the United States, has experienced a significant decline, dropping by over 50%. This decline indicates a shift in interest in crypto trading. According to analysis from digital asset data provider CCData, Coinbase recorded approximately $76 billion in spot trading volume for the […]
Former engineer at Alameda Research, Aditya Baradwaj, has revealed how lax security practices at the company led to losses of nearly $200 million. Baradwaj disclosed that founder Sam Bankman-Fried prioritized rapid expansion over risk management protocols, resulting in challenges with account reconciliation, trading safety measures, and safeguarding private keys. The company experienced three major security […]
FTX, the collapsed crypto exchange, has reached a settlement agreement with Genesis Global Capital, a crypto lending firm, in their ongoing bankruptcy case. Under the agreement, FTX will receive a $175 million claim against Genesis, while also withdrawing over $1 billion in counterclaims. This settlement aims to resolve disputes over loans made by Genesis to […]
Judge Lewis Kaplan has made several pretrial evidentiary rulings in the case against FTX founder Sam Bankman-Fried. While he granted reconsideration on certain issues challenged by Bankman-Fried’s defense, he maintained his decisions to exclude arguments about FTX’s lack of regulation and evidence related to the firm’s bankruptcy proceedings. However, the judge did allow evidence of […]
CoinMarketCap, a crypto data aggregator owned by Binance, has launched a new ChatGPT plugin. This plugin allows users to access real-time data directly from CoinMarketCap. By signing in to their ChatGPT Plus account and enabling the plugin, users can keep up with the rapidly changing crypto landscape. The plugin operates as an AI crypto analyst, […]
Former engineer at Alameda Research, Aditya Baridwaj, has claimed that FTX’s sister hedge fund lost at least $190 million due to avoidable scams. Baridwaj alleges that the firm’s agility led to major security incidents occurring every few months. One example cited is a trader at Alameda losing over $100 million after clicking on a malicious […]
Crypto exchange WOO Network has reached a settlement to sever ties with bankrupt hedge fund Three Arrows Capital. WOO will repurchase over 20 million WOO tokens and additional shares acquired by the hedge fund during WOO’s series A funding round. The repurchase will be done at an attractive discount, effectively cutting all remaining connections to […]
During the trial of Sam Bankman-Fried, the founder of crypto exchange FTX, shocking revelations emerged from the testimony of former Alameda Research CEO Caroline Ellison. While Bankman-Fried was not charged with bribery, evidence was presented to demonstrate trust and motive between him and Ellison. According to Ellison’s testimony, when Bankman-Fried was CEO in 2020, accounts […]
Former CEO of crypto exchange FTX, Sam Bankman-Fried, was reportedly concerned about various issues leading up to the collapse of the exchange. According to former Alameda Research CEO Caroline Ellison’s personal notes, Bankman-Fried was worried about Alameda’s performance, investing in Snapchat, raising capital from Saudi royalty, and pressuring regulators to crack down on rival exchange […]
