#ftx

A spokesperson for the university stated that they have been in talks with FTX debtor attorneys to facilitate the full return of the donated funds. It’s worth noting that Sam Bankman-Fried’s parents have a longstanding association with Stanford Law School, serving as legal scholars and professors there. The donations in question, totaling approximately $5.5 million, were made by FTX-related entities between November 2021 and May 2022 for pandemic-related prevention and research.

The company's leader detailed such strategic interests: “We might do it in order to provide creditors the best execution price and mitigate a risk of a huge aggressive selling pressure that could send the market back to 2020’s capitalization”, says Andrei Grachev. Community thinks DWF Labs donʼt have the facilities for such a big man.

In a recent courtroom confession, Ryan has agreed to pay a $6 million fine to the US government, reimburse FTX creditors with $5 million, and forfeit two Massachusetts properties along with his Porsche. The former FTX executive admitted to illicit campaign financing and running an unlicensed money transfer business. “I made $10 million in political contributions and called them loans, which I never intended to repay,” said Salame. He could face up to 10 years in federal prison.

Currently, Mantle DAO is evaluating a proposal that would prohibit the conversion of BIT tokens held by FTX Group into the new MNT token. Previously, Alameda Research, a branch of the FTX Group, swapped 3.4 million FTT tokens for a staggering 100 million BIT tokens, which equated to around $43 million. Yet FTX's descent into bankruptcy prompted DAO members to introduce this proposal. MNT is a token that was launched as Mantle's L2 mainnet went live. The blockchain was established by the Bybit exchange, which initiated the merge of BIT (BitDAO) and MNT tokens. Controversies aside, there's robust support for this proposal within the Mantle enclave, spotlighting the overarching investor community's interests.

FTX's portfolio liquidation is unlikely to shake the market significantly, as noted by Coinbase in their latest weekly report. They cited multiple reasons supporting this claim. 1. Weekly Sell Limits: Initially, liquidations are capped at $50 million per week for digital assets. This limit will gradually increase to $100 million in subsequent weeks. Any permanent increase to a maximum limit of $200 million requires approval from two committees representing FTX debtors. 2. Insider-Affiliated Tokens: Stricter controls govern the sale of “insider-affiliated” tokens, necessitating a 10-day advance notice to the same committees. 3. Locked Holdings: A significant portion of FTX’s SOL holdings, along with some other tokens, are locked until approximately 2025 due to token vesting schedules, limiting their availability for sale. 4. Hedging Measures: FTX has the option to hedge its sales of BTC, ETH, and other debtor-identified assets through an investment advisor, contingent on prior committee approval. These precautions ensure a measured and controlled approach to asset liquidation.

Apple has reportedly shelled out $5 million to secure the rights to Michael Lewis' upcoming book on Sam Bankman-Fried (SBF), the former CEO of FTX. The book, titled "Going Infinite: The Rise and Fall of a New Tycoon," is set to launch on October 3, coinciding with the start of SBF's criminal trial in New York. A documentary is also in the pipeline, directed by Nanette Burstein, known for her work on crypto evangelist John McAfee and Hillary Clinton.

The FTX founder, Sam Bankman-Fried, has publicly declared his innocence. He responded to charges of fraud, money laundering, and recent allegations concerning breaches of election campaign finance laws. He articulated his defense on August 22nd in the Southern District Court of New York.

The Federal Reserve enforced the closure of Farmington State Bank, a lender that has ties with both FTX and Alameda Research. But what led to this? The bank's silent move towards a digital-centric strategy without keeping the Federal Reserve in the loop. To thicken the plot, Farmington had previously, in March 2022, secured a substantial $11.5 million funding from Alameda Research.