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The Latest Breaking News from FTX

DOJ questions Silvergate for dealings with FTX, Alameda

The fraud probe follows the crypto-focused bank’s announcement two weeks ago of a net loss of $1 billion in the fourth quarter of 2022.

Fortune

There’s a wild theory that the price of Bitcoin is being propped up—and the academic who proved manipulation in 2017 suspects it may be happening again

Bitcoin's sudden stability is “very suspicious” says John Griffin, finance professor at the University of Texas McCombs School of Business. “The same mechanism we saw in 2017 could be at play now in the still unreal Bitcoin market.”

Fortune

Scammed: why the rich, famous and experts get duped more often than you think

The typical reaction to learning about how people have lost money to a con artist is “how could anyone be so gullible?” But it’s the wrong question. Fraudsters fool even the most clever and admired experts by playing on their psychological vulnerabilities.

The Conversation

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Cathie Wood’s ARK Invest says Bitcoin could exceed $1 million in just 7 years

In the midst of a brutal Crypto Winter, one of Bitcoin’s biggest bulls is as optimistic as ever.

Fortune

Fortune and Mark Wahlberg's Unrealistic Ideas to produce SBF-CZ crypto documentary

The story of crypto's most fateful rivalry is coming to the screen with exclusive access to the CEO of FTX's biggest competitor.

Fortune

Judge rules that Sam Bankman-Fried must stop contacting former employees of FTX, Alameda Research

The decision is pending a hearing on Feb. 7.

Fortune

Sam Bankman-Fried's family has been dragged into FTX's bankruptcy proceedings

In a court filing last week, lawyers for FTX’s new management team asked the judge overseeing the bankruptcy to issue subpoenas to SBF’s family.

Fortune

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Court Orders Unsealing Names of Non-Parent Sureties Who Put Up Bail for Samuel Bankman-Fried

From yesterday's opinion in U.S. v. Bankman-Fried, decided by Judge Lewis Kaplan (S.D.N.Y.): At defendant's presentment on December 22, 2022, the government and defense jointly proposed a set of bail conditions. Those conditions required, inter alia, that defendant sign a $250 million personal recognizance bond to be co-signed by defendant's…

Reason

A sunny place for shady people: Were FTX billions on an Australian odyssey?

Could the trail to more than $10 billion missing from Sam Bankman-Fried’s collapse FTX crypto exchange lead through Australia?

The New Daily

Battle of the bankrupts as FTX sues Voyager for $446 million

FTX initially had planned to acquire Voyager after it filed for bankruptcy, but those plans fell through when the firm then entered administration itself

Evening Standard

People who posted Sam Bankman-Fried's bail should be named, U.S. judge rules

A U.S. judge on Monday said the names of two people who helped guarantee bail for indicted FTX cryptocurrency exchange founder Sam Bankman-Fried should be made public, but put his ruling on hold pending an expected appeal.

Reuters

Sam Bankman-Fried’s parents used their house to bail him out. But they rent the land from Stanford

Shortly before Christmas, FTX founder Samuel Bankman-Fried, indicted on federal charges of fraud and money laundering, was released on a $250 million bail bond that was secured by his parents’ Palo Alto-area home.

Los Angeles Times

Australian regulator had FTX under surveillance at time of collapse, documents reveal

Exclusive: Asic had concerns about crypto platform six months before spectacular failure

The Guardian - AU

FTX's Sam Bankman-Fried, DOJ tussle over his communications

Federal prosecutors are trying to prohibit FTX founder Sam Bankman-Fried from privately contacting current and former employees of the bankrupt cryptocurrency exchange to prevent potential witness tampering in a criminal case accusing him of bilking investors and customers

The Independent UK

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Fortune

FTX’s Sam Bankman-Fried must stop contacting former employees, prosecutors say

New bail conditions would restrict the FTX founder’s use of messaging platforms.

Fortune

Everywhere you look, the economy is in a deep freeze. But does that mean a recession is coming?

From the housing market to venture capital activity, many parts of the economy are in a deep freeze. And experts say they may not thaw out until next year.

Tribune News Service

Bankman-Fried sought to influence witness, prosecutors say

FTX co-founder Samuel Bankman-Fried sought to influence a witness in the U.S. government’s criminal fraud case against him, prosecutors said in a filing, asking a judge to stop him from contacting former employees at the bankrupt cryptocurrency exchange.

inkl Originals

The Weekly Wrap for Saturday, 28 January 2023

When we say "Japanese baby problem" you might imagine the grotesqueries from Akira (1988). But this is about births, deaths, and everything that happens in-between...

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Fortune

FTX owes money to Apple, Google, Netflix, Yahoo, and Gisele Bündchen’s charity

On Wednesday, a federal judge released a comprehensive list of FTX’s creditors, excluding the names of individuals.

Fortune

Ritchie Torres went from crypto ‘newbie’ to key ally in Washington. Now he could shape the industry’s post-FTX future

The second-term Congressman from the Bronx is one of many who got donations from Sam Bankman-Fried. He's fighting for rules that could help crypto serve the "unbanked."

Fortune

Congressional Republicans have Gary Gensler in their crosshairs

Rep. Hill on his new digital assets subcommittee.

Fortune

Solana shakes off its death rattle with a 140% jump in value since the start of the year

The cryptocurrency’s underlying blockchain has also outpaced competitors in the number of developers contributing to it.

The Guardian - AU

Australian crypto exchange Digital Surge saved after $1.25m loan from creditors

The Brisbane-based firm lost $33m in the collapse of the global platform FTX but now aims to pay back customers over five years

The Independent UK

Crypto firms acted like banks, then collapsed like dominoes

Over the past few years, a number of companies have attempted to act as the cryptocurrency equivalent of a bank, promising lucrative returns to customers who deposited their bitcoin or other digital assets

AAP

Bailout backed to recoup crypto millions

Cryptocurrency firm Digital Surge will survive as creditors vote for a bailout after hours of questions put to administrators by some of the 30,000 investors.

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