FTX lawyer says in first bankruptcy hearing that this case is 'a different sort of animal'
Lawyers are trying to clean up the mess left behind by FTX founder Sam Bankman-Fried, who resigned on Nov. 11 as the company entered bankruptcy.Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during the Institute of International Finance annual membership meeting in Washington, DC, on Thursday, Oct. 13, 2022.
Regarding FTX's founder, this was an organization that was "effectively run as a personal fiefdom of Sam Bankman-Fried," an FTX attorney told the court. FTX had been valued by private investors at $32 billion earlier this year, and Bankman-Fried was making himself out to be an industry savior during the crypto winter.
FTX customers had a global presence, but many were based in tax havens. The largest geographic areas represented included:China — 8% of registered customers. Bromley said the asset recovery and protection efforts encompass not just crypto assets and currency, but "information." The company has also brought on independent directors for the first time ever.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
FTX hacker dumps 50,000 ETH, still among top 40 Ether holdersThe FTX hacker drained nearly $447 million out of multiple FTX global and FTX.US exchange wallets just hours after the crypto exchange filed for Chapter 11 bankruptcy on Nov. 11.
Weiterlesen »
First Mover Americas: FTX Faces Whopping Claims, Ackman's Hot for HeliumHistorically, big spikes in trading volume have marked significant turning points for $bitcoin. A chart by a pseudonymous crypto analyst shows that $BTC has hit a two-year low on record trading volume.
Weiterlesen »
First Mover Americas: Bitcoin Drops as FTX Fallout Spreads$BTC sank to a two-year low as the fallout from FTX_official's implosion spreads, catching crypto investment firm Genesis in its web. LedesmaLyllah reports.
Weiterlesen »
Kevin O’Leary: FTX Fallout ‘Does Not Kill Crypto'O'Leary Ventures Chairman Kevin O’Leary, who became a spokesperson for FTX in 2021, joins “First Mover” to discuss his reaction to the FTX disaster and his last conversation with former CEO Sam Bankman-Fried. Plus, an outlook on the crypto markets following bitcoin’s worst week in five months triggered by the FTX saga.
Weiterlesen »
FTX User Sues Golden State Warriors For Promoting Crypto PlatformThe reigning NBA champions paused all FTX-related promotions last week.
Weiterlesen »