Category: Allegations

Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors

Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s…

French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud

On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of…

Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’

After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However,…

SEC and CFTC Lawsuits Against Former FTX CEO Paused Until Criminal Proceedings Conclude

Two civil lawsuits, stemming from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), against former FTX CEO Sam Bankman-Fried will be paused until his…

NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial…

Disgraced FTX Co-Founder Awaits Trial, Passes Time Playing Video Games and Blogging on His New Substack Newsletter

The former CEO of FTX, Sam Bankman-Fried (SBF), has published a Substack newsletter on Jan. 12, 2023, and the first post is titled “FTX Pre-Mortem Overview.” In the post, SBF…

FTX Donations to Early Covid-19 Researchers Raise Questions of Propaganda Tied to Pandemic Prevention

While the former CEO of FTX, Sam Bankman-Fried, awaits his trial at the end of the year, reports indicate that the company donated millions of dollars to early Covid-19 researchers.…