A group of FTX investors and customers has agreed to drop their claims against co-founder Sam Bankman-Fried in exchange for his cooperation against other defendants in a sprawling set of lawsuits over the cryptocurrency exchange’s collapse. The agreement, if approved …
FTX investors sued Sullivan & Cromwell, accusing the law firm of aiding illicit schemes that helped advance a multi-billion dollar fraud before the crypto exchange’s collapse. Sullivan & Cromwell’s services “went well beyond those a law firm should and ordinarily …
The National Basketball Association was hit with a lawsuit over its marketing links to failed crypto exchange Voyager Digital Holdings Inc., which investors claim led to $4.2 billion in losses. The NBA was “grossly negligent” in agreeing to a marketing …
U.S. prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange. In a letter filed on Friday night in federal court …
FTX investors suing the cryptocurrency exchange’s celebrity promoters for allegedly helping to facilitate an $11 billion fraud have some new targets, including Major League Baseball, Formula 1 racing and Mercedes-Benz Group AG’s racing team. Investors’ lawyers sued MLB – the …
The US Justice Department is seeking more than $4 billion from Binance Holdings Ltd. as part of a proposed resolution of a years-long investigation into the world’s largest cryptocurrency exchange. Negotiations between the Justice Department and Binance include the possibility …
Several days after he was found guilty of one of the biggest financial frauds on record, FTX founder Sam Bankman-Fried dropped an insurance coverage lawsuit against excess insurance company Continental Casualty Co. Shortly before his trial began in early October, …
Sam Bankman-Fried’s criminal fraud conviction came just as the FTX implosion was approaching its first anniversary. But for others who helped promote the cryptocurrency exchange, the legal fallout will continue for years. Attention now turns to a sweeping class-action suit …
FTX founder Sam Bankman-Fried was found guilty Nov. 2 of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire’s fall from grace. A 12-member …
Sam Bankman-Fried, testifying in his own defense at his fraud trial on Friday, acknowledged that a “lot of people got hurt” when the FTX cryptocurrency exchange he founded collapsed, but said he did not defraud anyone or take customer funds. …
