FTX cold wallet transfers over 460,000 SOL to new address
PeckShield monitoring shows that in the past 8 hours, FTX's cold wallet address has transferred 463,000 SOL coins (about $18.66 million) to a new address. Currently, the cold wallet address still holds 2.2534 million SOL coins (about $93.6 million).
FTX deposited 1.21 million SOL and 1,583 ETH to Binance and Kraken in the past 20 hours
Spot On Chain monitoring shows that FTX has deposited 1.21 million SOL (worth $48.6 million) and 1,583 ETH (worth $3 million) into Binance and Kraken in the past 20 hours. Since October 24th (13 days ago), FTX and Alameda have transferred a total of 31 tokens worth $310 million to exchanges.
Former Prosecutor Predicts 25-Year Sentence for Sam Bankman-Fried in FTX Collapse Case
Legal experts predict that Sam Bankman-Fried, the founder of FTX crypto exchange, may face a prison sentence of around 25 years for his involvement in wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering. Bankman-Fried faces a maximum of 115 years in prison, but former federal prosecutor Renato Mariotti believes that Judge Lewis Kaplan will not be lenient when imposing the sentence. Mariotti cited Bankman-Fried's immense fraud, defiant behavior during the trial, and lying on the witness stand as reasons for a lengthy sentence. Kaplan previously revoked Bankman-Fried's $250 million bail for contacting potential witnesses against him.
Proof Group in running to relaunch bankrupt crypto exchange FTX
Proof Group, a Silicon Valley investment firm that was part of the consortium that successfully bid for bankrupt cryptocurrency lender Celsius, is among the shortlist of three potential bidders to relaunch FTX, one of the largest crypto exchanges that collapsed almost a year ago. Other options being considered include selling the entire exchange and its customer list or bringing in a partner. A decision is expected to be made by mid-December. However, restarting FTX is not a straightforward process and there are various aspects of claims, token lockups, and compliance issues that need to be addressed.
FTX and debtors seek court approval to sell $744 million of Grayscale and Bitwise trust assets
According to court documents, FTX and its debtors have requested approval from the Delaware bankruptcy court to sell a portion of their trust assets, namely Grayscale and Bitwise funds, with an estimated value of $744 million through an investment advisor.
FTX cold wallet transferred 750,000 SOL again
According to Pai Shield monitoring, the address marked as "FTX Cold Storage #2" has transferred about 750,000 SOL (approximately 31 million US dollars) to the address starting with 4Axqyo and to Binance.
Bloomberg: FTX bankruptcy advisor provides FBI with client information, trading records
According to Bloomberg reports, court records show that FTX advisors have been providing information about customer accounts and transaction records to federal law enforcement agencies across the United States.
Peter Schiff: CNBC is also responsible for promoting SBF and FTX scams
Peter Schiff, the Chief Economist and Global Strategist of Euro Pacific Capital, accused CNBC of biased reporting, which helped to promote the FTX scam by Sam Bankman-Fried. He believes that the media is responsible for the losses suffered by investors. Schiff criticized CNBC for treating SBF as a "god" and not scrutinizing FTX's operations. He believes that CNBC should be responsible for the losses suffered by FTX customers due to its biased promotion.
In addition, Schiff claimed that regulatory agencies and politicians were also involved in this scam. Without the help of politicians who allegedly accepted his bribes, SBF would never have been able to escape his scam. Schiff said that the "incompetence of regulatory agencies proves that the free market can do better".
Michael Saylor: The failure of SBF and FTX is “the inevitable path for the industry”
Michael Saylor, the CEO of Microstrategy, said that the failure of Sam Bankman-Fried and FTX is "an inevitable part of the industry" and this will lead to a more stable Bitcoin-based ecosystem.
Court documents: FTX Advisors has been providing customer account information and transaction records to U.S. law enforcement agencies
FTX advisors have been providing client account information and records related to FTX transactions to federal law enforcement agencies across the United States. According to billing records from consulting firm Alvarez & Marsal, FTX advisors collected FTX customer data based on subpoenas from at least five FBI field offices. Tasks included extracting information on specific customer transactions, investigating accounts, and screening cloud computing data.
However, court documents do not detail the scope of FTX customer information or transaction data transferred to federal agents. <br>
