An expert witness will provide responses to the testimonies of Caroline Ellison and developer Adam Yedidia, as well as those of former FTX CTO Gary Wang and Head of Engineering Nishad Singh.
The saga continues for the account holders of the bankrupt FTX cryptocurrency exchange as phishing threats resurface. Emails, claiming to provide a shortcut for fund withdrawals without the legal red tape, are being sent.
The beleaguered cryptocurrency exchange, FTX, has rolled out a collaborative plan with its creditors to reimburse affected users and investors. Here are the key points:
During her court deposition, Caroline Ellison revealed the extraordinary lengths her company went to in an attempt to recover $1 billion frozen on Chinese exchanges.
On November 11, 2022, alarming withdrawals raised concerns among former staff and executives.
Zane Tackett, the former Head of Institutional Sales at FTX, shared that he once stumbled upon millions of dollars worth of airdrops that the exchange had overlooked.
The OTC trades of FTX creditor claims are now valued at over 50 cents per dollar lost. This signals a growing belief in recovering at least half of their assets. This surge follows the disclosure of FTX's substantial stake in the AI company, Anthropic. The potential sale of this stake holds promise for a more successful fund recovery for creditors.
Attorney: What did the defendant tell you to do? Ellison: To continue repaying Alameda’s loans. Attorney: How did you? Ellison: Taking money from FTX customer funds.
Seeking to explore the suspected engagement of FTX’s legal advisers in approving deceitful loans from Alameda amounting to $200 million, Sam Bankman-Fried's law team is in the process of obtaining the necessary permissions.
The U.S. Department of Justice has announced that, with an official legal case launched against the founder of FTX, the government now has the authority to seize two private planes belonging to the billionaire.
