FTX hits Binance with lawsuit over Sam Bankman-Fried transactions Legal FTX launched legal action against Binance, seeking the return of almost $1.8bn that was allegedly transferred fraudulently.
FTX executives face sentencing as crypto saga unfolds Daily Market Watch The sentencing of former FTX executives, Nishad Singh and Gary Wang, is scheduled for this fall.
SEC takes action against crypto-friendly bank Silvergate Daily Market Watch Silvergate Capital Corp., the parent of the crypto-friendly bank that collapsed in 2023, has agreed to pay $63 million to settle charges by U.S. and California regulators.
Two arrested on suspicion of running illegal £1bn crypto exchange June 20, 2024 Two individuals have been arrested on suspicion of running an illegal cryptoasset exchange, through which more than £1bn of unregistered digital assets are believed to have been bought and sold.
Bitcoin Spot ETFs record second highest inflow day with $887 million June 6, 2024 Each day, Coinrule will run through the state of the digital assets market for Blockbeat, your home for news, analysis, opinion and commentary on blockchain and digital assets. Since the Ethereum US spot Exchange Traded Funds’ (ETFs) 19b-4 filings being approved, Bitcoin has been ranging, with last week’s volatility falling below 1%. This is the [...]
FTX legal and administrative fees now exceed $500 million June 4, 2024 Each day, Coinrule will run through the state of the digital assets market for Blockbeat, your home for news, analysis, opinion and commentary on blockchain and digital assets. Over the past several weeks, FTX creditors learned that 98% of them will receive up to 118% of their lost funds following the exchange’s implosion. Even after [...]
Hacked exchange Mt. Gox to finally start refunds May 31, 2024 Each day, Coinrule will run through the state of the digital assets market for Blockbeat, your home for news, analysis, opinion and commentary on blockchain and digital assets. Mt. Gox, the first major Bitcoin exchange based in Japan, was moving up to 70% of all Bitcoin volumes in its heyday. When it was hacked in [...]
FTX Cleanup continues as Co-CEO sentenced May 30, 2024 Each day, Coinrule will run through the state of the digital assets market for Blockbeat, your home for news, analysis, opinion and commentary on blockchain and digital assets. One of Sam Bankman-Fried’s key lieutenant’s, Ryan Salame, formerly Co-CEO of FTX Digital Markets, received a 7.5 year prison sentence in a court in the Southern District [...]
Celebrity influencer endorsements continue to backfire May 29, 2024 Each day, Coinrule will run through the state of the digital assets market for Blockbeat, your home for news, analysis, opinion and commentary on blockchain and digital assets. The latest twist in the saga of celebrities endorsing low quality crypto projects to their followers happened last Sunday. Caitlyn Jenner, Olympic Gold winner and Fox news [...]
FTX estate will recover up to $16.3 billion to creditors May 9, 2024 2022 was a traumatic year for the crypto industry. After Terra's implosion in May, the summer saw numerous bankruptcies from seemingly reputable crypto entities due to lacking risk management. Sam Bankman-Fried (SBF) appeared to have a plan to save them all. People heralded him as the "JP Morgan of Crypto" after he made several nine-figure investments to rescue the crypto economy, similar to JP Morgan's early 1900s actions to backstop financial institutions. However, by November 2022, SBF's own companies faced jeopardy. On November 11, 2022, FTX filed for Chapter 11 bankruptcy. Now, almost 18 months later, it seems creditors will be more than compensated.