News

Former FTX Director Pleads Guilty to Charges of Fraud, Money Laundering, and US Campaign Finance Violations

Coins Legend February 28, 2023 0

Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and stated, “I am unbelievably sorry for my role in all of this.” Singh

News

Former FTX CEO Sam Bankman-Fried Faces New Charges in Multi-Billion Dollar Fraud Case

Coins Legend February 23, 2023 0

Sam Bankman-Fried (SBF), the disgraced co-founder of FTX, faces four more charges after a new indictment was unsealed on Wednesday. The charges include operating an unlicensed money transfer business and conspiring to commit bank fraud. SBF Gets 4 New Charges Tacked Onto His Indictment The former CEO of FTX was originally indicted 72 days ago […]

Finance News

Crypto Hedge Fund Galois Capital Shuts Down — ‘We Lost Almost Half Our Assets to FTX Disaster’

Coins Legend February 20, 2023 0

Crypto hedge fund Galois Capital is shutting down after losing about half of its assets to the FTX disaster. “Given the severity of the FTX situation, we do not think it is tenable to continue operating the fund both financially and culturally,” the fund’s co-founder told investors. Crypto Hedge Fund Shuts Down Due to FTX […]

News

Democrats to Return 2.2% of $45.2 Million Donation Made by FTX’s Co-Founder Sam Bankman-Fried

Coins Legend February 19, 2023 0

After the disgraced co-founder of FTX, Sam Bankman-Fried (SBF), donated $5.2 million to Joe Biden’s campaign in 2020 and more than $40 million to Democrats leading up to the U.S. midterm election cycle, three major Democratic organizations plan to return 2.2% of the funds, or $1 million, to the now-defunct crypto exchange. Of the total […]

News

FTX Warns Community of Phony ‘Debt Tokens’ and Scams Claiming to Be Affiliated With the Bankrupt Exchange

Coins Legend February 19, 2023 0

On Friday, debtors who control the official FTX Twitter account warned the community to “be on alert for scams from entities claiming to be affiliated with FTX.” They also noted that neither FTX debtors nor any entity related to the company has issued any IOU crypto assets or “debt tokens.” The alert comes as a […]

Exchanges News

Report: Former FTX Director of Engineering Nishad Singh Negotiating Plea Deal with Prosecutors 

Coins Legend February 18, 2023 0

Another member of Sam Bankman-Fried’s inner circle allegedly plans to plead guilty to criminal charges for his role in the alleged fraud that occurred at the cryptocurrency exchange FTX. According to unnamed sources familiar with the matter, Nishad Singh, FTX’s former director of engineering, is attempting to negotiate a deal with New York prosecutors. Sources […]

News

Prosecutors Seek Restrictions on Former FTX CEO’s Electronic Devices Following VPN Use for Football Streaming

Coins Legend February 17, 2023 0

Prosecutors in the financial fraud case against former FTX CEO Sam Bankman-Fried (SBF) are attempting to persuade the judge to restrict his use of electronic devices. It has been revealed that SBF used a virtual private network (VPN) to watch the Super Bowl through a foreign subscription service he had purchased before his arrest. Prosecutors, […]

News

Report: FTX Promised High Earnings to African Students That Successfully Recruited Fellow Learners

Coins Legend February 17, 2023 0

The collapsed crypto exchange FTX reportedly used the lure of high earnings to convince African university students to become its ambassadors. In addition to encouraging new FTX investors to use the platform, student ambassadors were also required to teach them about crypto and the blockchain. Some of the students insisted they will not quit crypto […]

News

Report Reveals Limited Accounting Records, Commingled Funds at FTX Digital Markets in the Bahamas

Coins Legend February 17, 2023 0

PWC, one of the ‘Big Four’ auditors and among the largest professional services networks globally, recently published a report on FTX Digital Markets, the bankrupt crypto exchange’s Bahamian subsidiary. The report indicates that the entity’s accounting records have been limited, and it also noted that there is “little distinction between what represents potentially client

Exchanges News

Stanford Alumni Revealed as Co-Signers of FTX Co-Founder’s $250M Bond

Coins Legend February 16, 2023 0

According to the latest court documents in the fraud case involving former FTX CEO Sam Bankman-Fried in Manhattan, the New York judge presiding over the case unsealed the co-signers of Bankman-Fried’s bond on Wednesday. The names of the two bail bond co-signers that were previously redacted from court documents are Stanford University alumni Larry Kramer […]