The sentencing of Changpeng Zhao, the founder and former CEO of Binance—the world’s biggest crypto exchange—has hit a snag. Originally set for February 23, his day in court’s been pushed back to April 30, according to CNBC. No one’s spilling why yet—Zhao’s lawyer, William Burke, just clammed up when asked about the delay. Zhao’s staring…
The collapsed crypto exchange FTX took a $400 million hit from a slick SIM-swap scam just days after filing for bankruptcy, according to a bombshell indictment unsealed by the U.S. Department of Justice in a Washington federal court. Bloomberg broke the story, spotlighting three alleged culprits—Robert Powell, Emily Hernandez, and Carter Rohn—who prosecutors say ran…
Changpeng Zhao, the Binance mastermind and former CEO, had a monster 2023—his net worth skyrocketed by $25 billion, shrugging off a stormy crypto market and a pile of regulatory headaches for his exchange. A Bloomberg report, pulling from their Billionaires Index, pegs Zhao’s crypto-stacked wealth as jumping over $20 billion this year, leaving peers like…
The bankrupt duo of FTX and Alameda Research is back at it, shifting $10.8 million in cryptocurrency to exchanges like Wintermute, Binance, and Coinbase. According to blockchain tracker Spot On Chain, the firms—now under receivership—moved a mix of eight digital assets in their latest shuffle. The haul included 10 million StepN (GMT) worth $2.58 million,…
Bankrupt crypto exchange FTX just got the go-ahead to cash in roughly 32 million shares in digital asset trusts, a move aimed at clawing back funds for creditors burned by its 2022 collapse. A Delaware bankruptcy court filing from November 29 greenlit the sale of about $873 million in assets, with the haul set to…
A U.S. District Judge in Seattle has slammed the brakes on Changpeng Zhao’s plans to head back to the UAE, keeping the former Binance CEO stateside until his February sentencing. Judge Richard Jones flipped an earlier ruling that would’ve let Zhao jet off, siding instead with prosecutors who pushed to keep him grounded after his…
The U.S. Department of Justice (DOJ) is gunning to put Sam Bankman-Fried, the ex-CEO of the now-defunct crypto exchange FTX, behind bars before his trial. In a letter to Judge Lewis A. Kaplan of the Southern District of New York’s federal court, the DOJ laid out its case, accusing Bankman-Fried of witness tampering and leaking…
CoinLoan, a European crypto-lending platform that’s been running under Estonia’s Financial Authority since 2017, has slammed the brakes on all operations following a stern court notice. Estonian regulators dropped a bombshell, banning CoinLoan from touching any assets without explicit go-ahead from an appointed liquidator, Martin Yen, who’s now stepping in as interim administrator. The order,…
Crypto exchange OKX made headlines today, announcing it’s handing over roughly $157 million in frozen assets tied to the collapsed FTX and its sister firm, Alameda Research, to help FTX’s debtors. The move came in a March 29 press release responding to a motion filed in FTX’s ongoing bankruptcy proceedings. Back in November 2022, as…
A federal bankruptcy court just pulled the plug on the naming rights deal between FTX and Miami-Dade County, clearing the way for the fallen crypto giant’s logo to get scrubbed from the Miami Heat’s NBA arena. Once the third-biggest cryptocurrency exchange around, FTX went down in flames, racking up losses between $8 billion and $10…