FTX has outlined a new plan promising significant repayments to its creditors affected by the 2022 collapse, including “billions in compensation” for the time value of their investments. Despite this promising development, not all parties are satisfied. The plan, pending approval by the U.S. Bankruptcy Court in Delaware, sets the stage for a 118% recovery […]

Avi Eisenberg could be sentenced to as much as 20 years in prison following his conviction for wire fraud, commodities fraud, and commodities manipulation in a $110 million Mango Markets exploit. After a two-day jury deliberation in the Southern District of New York, the jury found Eisenberg guilty. He orchestrated a $110 million exploit on […]

Binance’s Hefty Settlement In a landmark decision, Binance, the world’s largest crypto exchange, and its founder Changpeng Zhao (CZ) have agreed to a staggering $4.3 billion settlement with U.S. authorities. This settlement, one of the largest criminal penalties in U.S. history, comes after Binance and CZ pleaded guilty to charges of anti-money laundering and sanctions […]

In a bold move to navigate through its financial turmoil, FTX, the once-giant in the cryptocurrency exchange world, has made headlines with its decision to sell its stake in Anthropic, an AI startup. This decision, coupled with the swirling concerns around its legal team’s profits, paints a complex picture of FTX’s attempt to rise from […]

Zhao’s Travel Request Denied Amid Legal Turmoil Changpeng “CZ” Zhao, the founder of Binance, recently faced a significant legal hurdle. Despite offering a staggering $4.5 billion in Binance equity as security, his request to travel to the United Arab Emirates was denied by a U.S. federal judge. This decision underscores the intensifying scrutiny Zhao is […]

Gensler and His Warning on Crypto Risks Gary Gensler, SEC Chairman, recently issued warnings about crypto, coinciding with major asset managers seeking Bitcoin ETF approval. These warnings signal heightened regulatory scrutiny. He consistently raises concerns about the risks in crypto investments, particularly with the expected spot Bitcoin ETFs. Gensler points out the market’s volatility and […]

Strategic Response of dYdX to $9M Attack In November 2023, the decentralized exchange dYdX faced a sophisticated attack on its v3 platform, leading to a significant $9 million loss from its insurance fund. This loss represented a substantial portion of the fund’s total value. dYdX’s team, in collaboration with community partners and forensic experts, successfully […]

The Bankman-Fried Legal Saga Sam Bankman-Fried, the former CEO of the now-defunct crypto exchange FTX, has been a central figure in a high-profile legal drama. Convicted last month for embezzling funds from FTX customers, Bankman-Fried’s case has been a focal point in the crypto world. His conviction on seven counts of fraud and conspiracy marked […]

Legal Storm Hits X Corp Elon Musk’s media venture, X Corp, previously Twitter, now confronts a significant legal challenge. A U.S. federal judge has actively ruled against the company for its failure to pay promised bonuses to employees. Mark Schobinger, a former senior director at the company, initiated this lawsuit, accusing X Corp of breaching […]

The Denied Delay Sam Bankman-Fried, the former CEO of FTX, encountered a significant setback. His request for an adjournment in his sentencing proceedings was denied. He had sought a four- to six-week delay. This request was based on his need for more time. He needed it to prepare for the presentencing interview and a potential […]

Ronaldo’s Legal Troubles with Cryptocurrency Promotion   Pro-soccer star Cristiano Ronaldo is currently facing a class-action lawsuit. His involvement in promoting Binance, a cryptocurrency exchange platform, has led to this legal challenge. Filed in a Florida District Court, the lawsuit directly accuses Ronaldo. He allegedly endorsed and sold unregistered securities while collaborating with Binance. Formed […]

Binance founder Zhao pleads guilty to money laundering, resigns amid $4.3 billion DOJ settlement, impacting crypto world.   Changpeng Zhao’s Guilty Plea and Binance’s Future  Changpeng Zhao, the founder of Binance, faces significant changes following his agreement to plead guilty to anti-money laundering violations. The $4.3 billion settlement with the U.S. authorities marks a pivotal […]