The U.S. Securities and Exchange Commission has imposed long-term leadership bans on three former FTX executives for their roles in misusing customer funds. Caroline Ellison, Gary Wang, and Nishad Singh agreed to injunctions and officer-and-director bars lasting up to 10 years without admitting wrongdoing. The penalties follow their cooperation in the criminal case against Sam Bankman-Fried.
about SEC Bars FTX Execs for Decade Over Customer Fund MisuseAlameda Research
0 posts last weekSEC Settles with FTX Insiders, Bars Them from Corporate Leadership
The U.S. Securities and Exchange Commission has moved to permanently sideline key architects of the FTX fraud, proposing settlements that ban three former executives from corporate leadership for up to a decade. These agreements with Sam Bankman-Fried’s inner circle—Caroline Ellison, Gary Wang, and Nishad Singh—mark a decisive regulatory conclusion to their roles in the multi-billion dollar collapse, rewarding their cooperation with prosecutors while ensuring they cannot repeat their offenses in public markets.
about SEC Settles with FTX Insiders, Bars Them from Corporate LeadershipFTX Witness Ellison Moved to Home Confinement After 11 Months
Caroline Ellison, the former Alameda Research CEO whose pivotal testimony helped convict Sam Bankman-Fried, has been transferred to community confinement after serving roughly 11 months of a two-year sentence. This significant development allows her to complete her term at home or in a halfway house, with her release now expected nearly nine months earlier than originally scheduled, marking a new chapter in the aftermath of the FTX collapse.
about FTX Witness Ellison Moved to Home Confinement After 11 MonthsBlockFi Resumes US Crypto Withdrawals After Court Order
BlockFi has resumed cryptocurrency withdrawals for eligible US clients following a court order in its ongoing bankruptcy proceedings, marking a significant development in the complex case that has frozen customer assets since November 2022. The partial restoration of services comes with strict eligibility criteria and excludes international users, while the company continues to navigate regulatory challenges and pursue fund recovery from bankrupt entities including FTX and Alameda Research.
about BlockFi Resumes US Crypto Withdrawals After Court OrderSolana Under Pressure as Memecoin Frenzy Fades
Solana faces mounting pressure as declining memecoin activity and Alameda’s token unlocks challenge its recent bullish momentum. Despite robust institutional ETF inflows, the cryptocurrency’s ability to hold key technical support levels will determine its near-term trajectory. The clash between systematic selling and accelerating institutional demand defines Solana’s current market dynamics.
about Solana Under Pressure as Memecoin Frenzy FadesSBF’s X Account Claims FTX Was Never Insolvent
A document circulated through Sam Bankman-Fried’s X account presents a startling counter-narrative to the established facts of FTX’s collapse, claiming the crypto exchange was never insolvent but merely experienced a temporary liquidity crisis. The 14-page defense document, echoing arguments from Bankman-Fried’s criminal trial, alleges that external lawyers prematurely forced bankruptcy while the company was on track to resolve its financial challenges. These assertions directly contradict the jury’s 2023 fraud conviction that found Bankman-Fried misappropriated $10 billion in customer funds.
about SBF's X Account Claims FTX Was Never InsolventSBF: FTX Handover Was ‘Biggest Mistake’
Disgraced FTX founder Sam Bankman-Fried claims his decision to hand over control of the cryptocurrency exchange to new management was the critical error that prevented him from saving the company from collapse. The former CEO, now serving a 25-year prison sentence for fraud, maintains that this single move cost him a last-minute rescue opportunity that could have averted the $8.9 billion investor loss. This revelation comes as Bankman-Fried reflects on the catastrophic November 2022 implosion from his prison cell, insisting he could have salvaged the $32 billion empire.
about SBF: FTX Handover Was 'Biggest Mistake'FTX Sues Genesis Digital for $1.15B Over Bankman-Fried Fraud
FTX’s new management has filed a $1.15 billion lawsuit against Bitcoin miner Genesis Digital Assets, alleging former CEO Sam Bankman-Fried used commingled customer funds for inflated investments. The lawsuit claims these transactions represent ‘archetypical fraudulent transfers’ during FTX’s final months. This marks the latest effort by restructuring CEO John J. Ray III to recover assets for defrauded customers.
about FTX Sues Genesis Digital for $1.15B Over Bankman-Fried FraudFTX Trust Sues Genesis Digital Over $1.15B Fraudulent Transfers
The FTX Recovery Trust has launched a major legal offensive against Bitcoin mining firm Genesis Digital Assets, filing a lawsuit in Delaware bankruptcy court to claw back $1.15 billion in allegedly fraudulent transfers orchestrated by Sam Bankman-Fried. The complaint paints a picture of reckless investing using commingled customer funds while FTX was secretly insolvent, marking a significant escalation in efforts to recover assets for creditors burned by the exchange’s catastrophic 2022 collapse.
about FTX Trust Sues Genesis Digital Over $1.15B Fraudulent TransfersFTX Repays $1.6B to Creditors in Third Distribution
The FTX Recovery Trust has announced its third distribution of $1.6 billion to former clients of the bankrupt crypto exchange, marking another critical step in repaying creditors following one of the largest financial frauds in American history. This payment, processed through major platforms including Bitgo, Kraken, and Payoneer, will see creditors receive between 78% and 120% of their claim values from November 2022, when FTX collapsed amid criminal mismanagement by founder Sam Bankman-Fried.
about FTX Repays $1.6B to Creditors in Third DistributionFenwick & West Seeks Dismissal in FTX Fraud Lawsuit
Fenwick & West is seeking dismissal of a lawsuit that accuses the firm of playing a key role in FTX’s collapse, arguing it had no knowledge of the fraud and merely provided standard legal services. The lawsuit, filed in 2023, includes numerous defendants such as Binance, celebrities, and sports figures. Fenwick contends that the allegations mirror those previously dismissed against another FTX advisor, Sullivan & Cromwell, and that plaintiffs have failed to prove any awareness of wrongdoing. The motion follows FTX’s 2022 bankruptcy, which revealed misuse of client funds and resulted in prison sentences for executives including Sam Bankman-Fried.
about Fenwick & West Seeks Dismissal in FTX Fraud LawsuitDCG Sues Genesis Over $1.1B Loan Dispute
Digital Currency Group (DCG) has sued its now-bankrupt subsidiary Genesis, arguing that its $1.1 billion loan in 2022 exceeded Genesis’ losses and even resulted in profits due to recovered collateral from Three Arrows Capital. The collateral, held in Bitcoin and Grayscale Bitcoin Trust shares, surged in value post-2022, reducing DCG’s obligations to zero. Genesis, a crypto lender under DCG, collapsed in 2023 after exposure to failed firms like Three Arrows Capital and Alameda Research. DCG claims it fulfilled its financial commitments, while Genesis had earlier sued DCG for $3.1 billion over alleged fraudulent transfers during its collapse. The legal battle highlights the fallout from the 2022 crypto contagion.
about DCG Sues Genesis Over $1.1B Loan Dispute