Sam Bankman-Fried has been given a 25-year jail sentence by Judge Lewis Kaplan for defrauding customers and investors. The sentence is seen as lenient as he had faced 40 or 50 years behind bars.
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After shutting down its operations in Singapore in late 2021 due to lack of compliance in crypto regulations, Binance is again opening its doors and reviving its crypto permit bid in Singapore.
Crypto exchange Luno has decided to cut 35% of its staff as economic headwinds take their toll. Luno is one of the many subsidiaries of Digital Currency Group, which also owns ailing Genesis.
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The US Department of Justice has launched a website with contact details so that FTX victims can reach out. It could help Sam Bankman-Fried's victims recover the funds they lost access to on FTX.
The Bahamian authorities have disclosed that they're holding on to $3.5 billion worth of FTX's assets. It took control of them following the company's bankruptcy so they don't go missing.
Sam Bankman-Fried is unlikely to get a favourable deal from prosecutors, lawyer Mark Kasten has said. SBF would have to help in the prosecution of another bad actor but that's unlikely to happen.
Sam Bankman-Fried has been arrested in The Bahamas at the request of the United States. It's likely that the U.S. will ask for him to be extradited to face charges related to FTX's mismanagement.
The U.S. Justice Department is still divided on whether to pursue charges against the world's largest cryptocurrency exchange, Binance. Prosecutors are looking to see if it laundered money and more.
A member of the European Central Bank board, Fabio Panetta, stated an urgent requirement for regulations in the crypto sector. This comes after the collapse of FTX and rising volatility for crypto.
Jim Cramer, from CNBC's Mad Money, called former FTX CEO Sam Bankman-Fried a "pathological liar" and "con man" following the CEO's first interview since FTX filed for bankruptcy last month.
Kraken has announced it's cutting 30% of staff as it tries to endure the crypto winter. Just like non-crypto companies, Kraken is having to make tough decisions due to macroeconomic conditions.
BlockFi has filed for Chapter 11 bankruptcy just weeks after halting withdrawals. Customers with assets on the platform should be able to file claims during the process to retrieve some assets.
The Singapore state-owned investment firm Temasek Holdings has decided to write down its investment of $275 million in the collapsed crypto exchange FTX. It said that its belief in SBF was misplaced.
The financial regulators in the Bahamas have won a court ruling and appointed liquidators for the FTX unit in the country. The company currently has more than $13 billion in liabilities.
Visa has terminated its global debit card agreements with FTX, which has now declared bankruptcy. The Bahama-based crypto exchange platform had launched crypto debit cards with Visa in October 2022.
FTX has filed for Chapter 11 bankruptcy and Sam Bankman-Fried has stepped down as CEO. The firm will now try to monetize its assets to pay back stakeholders, including those who lost their assets.
BlockFi has paused crypto withdrawals on its platform due to the serious liquidity issues over at FTX. BlockFi didn't explain how it's affected by FTX's downfall, but said it'll post updates.
Binance has backed out of a non-binding deal to provide FTX with liquidity. The decision came after the SEC said it was going to be investigating FTX to see whether it broke any rules.
FTX is offering to help Voyager customers get a portion of their assets back if they sign up on FTX. The liquidity offer has not yet been taken up by Voyager and will be optional for users.
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