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The Latest Breaking News from FTX

Shohei Ohtani should be dismissed from FTX endorsement lawsuit, his lawyers say

Shohei Ohtani should be dismissed from a lawsuit alleging his endorsement of the now-bankrupt cryptocurrency exchange FTX, his attorneys argued in a court filing Friday.

Los Angeles Times

FTX could be revived as more customers’ funds recovered, say lawyers

Cryptocurrency exchange collapsed last year but assets worth $7.3bn have now been retrieved

The Guardian - UK

FTX execs ‘joked internally’ about losing track of millions in assets, misused customer funds, and ‘stifled dissent’ before the exchange’s collapse, new debtors’ report says

SBF and a team of top execs also “stifled dissent,” “commingled and misused” funds, and “lied to third parties,” a new debtors’ report alleges.

Fortune

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FTX failure rooted in ‘hubris,’ ‘greed’: Report

Failed crypto exchange FTX Trading Ltd lacked fundamental financial and accounting controls, stifled dissent within the company and joked internally about their tendency to lose track of millions of dollars in assets, according to a report by the company’s debtors.

The Times of India

Did the New York Times ethicist urge party guests to shun FTX employees?

The fallout out from the uncovering of Sam Bankman-Fried's massive fraud continues to ripple.

Fortune

Why the biggest players in crypto are worried about Adrienne Harris

The New York bank regulator plays a pivotal role in punishing bad actors and licensing legitimate businesses.

Fortune

Heat’s arena is now the Kaseya Center (building’s fourth name this season)

DETROIT — The way this season has gone for the Miami Heat, it is possible they wind up with more names for their arena in 2022-23 than playoff victories.

Tribune News Service

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Heat arena, formerly FTX, has a new name: Kaseya Center

The arena where the Miami Heat play their home games now has yet another new name after Miami-Dade County commissioners voted to enter into a 17-year deal to call the facility Kaseya Center

The Independent UK

What Binance's US lawsuit says about the future for cryptocurrency regulation

The world’s largest cryptocurrency exchange, Binance, has been hit with a lawsuit by US regulator the Commodity Futures Trading Commission (CFTC). This is not the first time a cryptocurrency exchange has been charged by a regulator. But this particular case involves a regulator that does not directly oversee cryptocurrencies. This…

The Conversation

Binance, CZ, and NBA star Jimmy Butler and other crypto influencers hit with $1B suit for promoting unregistered securities

The suit alleges Binance traded cryptocurrencies that are unregistered securities, and that influencers promoted them unlawfully.

Fortune

News briefs

LA County ends COVID-19 emergency, a milestone as case rate falls to 20-month low

Tribune News Service

Sam Bankman-Fried using millions sent to Stanford dad to pay for lawyers, report says

SAN JOSE, Calif. — Stanford Law School professor Joseph Bankman is using a “multimillion gift” he received from his embattled son Sam Bankman-Fried to pay for his son’s high-priced legal defense, according to a new report this week.

Tribune News Service

This week in the metaverse: Solana loses y00ts and DeGods collections, Argentina gets Web3 plane tickets, and Grimes launches NFTs

The move by y00ts and DeGods is a loss for the Solana blockchain, but SOL is still up roughly 100% since the start of the year after getting hammered post-FTX collapse.

Fortune

Disgraced crypto entrepreneur Sam Bankman-Fried pleads not guilty to federal fraud and bribery charges

NEW YORK — Disgraced crypto entrepreneur Sam Bankman-Fried pleaded not guilty to a host of new federal charges Thursday.

Tribune News Service

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ABC News

ASX breaks seven-week losing streak on the back of stable commodity prices, builders Lloyd Group and Porter Davis collapse — as it happened

The ASX is on track to finish the day's trade with its first weekly gain in seven weeks as stable commodity prices bolster mining stocks. Look back on the day's events as they happened with our blog.

Fortune

FTX founder Sam Bankman-Fried just pleaded not guilty to 5 new charges, including bribing a Chinese official and illegal political donations

Prosecutors shared that they have approximately 6 million pages of evidence.

The Independent UK

Lawyer: FTX founder likely challenging new crypto charges

A lawyer for onetime cryptocurrency darling Sam Bankman-Fried is signaling that he's challenging the validity of new charges contained in rewritten indictments released in recent weeks after his client was brought to the United States from the Bahamas in December

Zenger

FTX Founder Sam Bankman-Fried Accused Of Bribing Chinese Officials With $40M In New Indictment

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The Guardian - US

WeWork mugs for $500: 10 of the strangest merch items from companies that crashed

FTX fortune cookies and Theranos gift cards offer souvenirs from recent business disasters

Tribune News Service

News briefs

Terror threat in N. Ireland up to ‘severe’ ahead of expected Biden trip

Tribune News Service

Sam Bankman-Fried charged in US with bribing Chinese officials

Sam Bankman-Fried was charged with bribing Chinese officials, adding a new dimension to the U.S. government’s case against the FTX co-founder.

The New Daily

Bankman-Fried charged with bribing Chinese officials

FTX founder Sam Bankman-Fried has been charged in the United States with directing $US40 million ($A60 million) in bribes to one or more Chinese officials.

Fortune

Inside Binance: Vast profits, hefty influencer payouts, and a ticking time bomb on its balance sheet

Binance's big investments in its own BNB coin and in kickbacks to social media influencers could expose it to bigger risks.

The Independent UK

Bankman-Fried charged with paying $40M bribe to China

A new indictment charges FTX founder Sam Bankman-Fried with directing $40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business

Fortune

Sam Bankman-Fried bribed Chinese officials to the tune of $40 million as he got desperate about frozen Alameda funds, new DOJ charge claims

Prosecutors unveiled the charge in a new indictment filed on Tuesday.

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