Tag: FTX

FinTelegram presents the 2024 status of crypto2
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January 2, 2024

2024: The Year of Global Crypto Regulatory Shifts – U.S. Leads in Enforcement but Lags in Comprehensive Legislation

Experts say 2024 may become the most important crypto year with the BTC halving and expected SEC approvals of crypto ETFs! 2023 was a year of bold enforcement actions against the crypto industry but also saw the EU crypto framework MiCA. While the U.S. has been formidable in enforcing laws against crypto companies, it has notably lagged in establishing a regulatory framework specific to the industry.
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Sam Bankman-Fried lied, manipulated and defraudedU
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January 1, 2024

U.D. DOJ’s ‘Convenient’ Dismissal of SBF’s Second Trial Sparks Fury and Conspiracy Theories!

In a move that has sparked a firestorm of controversy and accusations of deep-rooted corruption, the U.S. Department of Justice (DOJ) has dropped a bombshell: no second trial for the infamous FTX founder, Sam Bankman-Fried (SBF). This decision to let SBF off the hook for additional charges, including those tied to campaign finance, reeks of a miscarriage of justice, sending shockwaves through the crypto community and beyond.
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Sam Bankman-Fried sentencedU
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December 30, 2023

U.S. Prosecutors Forego Second Trial Against FTX Founder Sam Bankman-Fried

am Bankman-Fried (SBF), the founder of the now-bankrupt crypto exchange FTX. In November 2923, Jurors convicted SBF on all seven fraud and conspiracy counts he faced. Prosecutors had accused him of looting $8 billion from FTX customers out of sheer greed. A second trial with further charges was originally planned. The prosecutors have now canceled this.
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Crypto exchange bullish acquires CoinDeskT
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November 22, 2023

Troubled Crypto News Platform CoinDesk Sold For In Undisclosed All-Cash Deal To Crypto Exchange Bullish!

CoinDesk, the prominent U.S. crypto news platform, has been acquired by Bullish, a crypto exchange led by former New York Stock Exchange president Tom Farley. This acquisition comes as CoinDesk's parent company, Digital Currency Group (DCG), grapples with financial challenges arising from the collapse of FTX. CoinDesk carried out a mass termination in the summer and sought new owners willing to inject fresh funds.
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Binance transfers Russia business to CommEXB
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November 20, 2023

Breaking: U.S. Government Allegedly Seeks A $4 Billion Payment From Binance To End Criminal Case!

The U.S. Justice Department (DoJ) is reportedly seeking a penalty of over $4 billion from Binance. This demand is part of a proposed settlement to conclude a prolonged investigation, as reported by Bloomberg News. The ongoing negotiations between the DOJ and Binance are also considering the possibility of criminal charges against Changpeng Zhao (CZ), the founder of the cryptocurrency exchange, in the United States.
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MEXC Estonia had its license revoked by FIUL
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November 18, 2023

License Revoked: Urgent Warning Against Crypto Exchange MEXC And Its Possible Collapse!

After the collapse of FTX in November 2022, regulators worldwide cracked down on crypto companies. Scrutiny increased in intensity and led to complaints and warnings from regulators. This also affected the crypto exchange MEXC, which received warnings from regulators worldwide. As exclusively reported by FinTelegram, the Estonian FIU has now revoked the crypto license of MEXC Estonia OÜ. Does this mean the end for MEXC? It is a likely scenario!
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Terra-Luna executives Do Kwon and Han-Chang-jooF
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November 17, 2023

Fallen Crypto Heroes: Appeal Of Convicted Terra/Luna Founder Do Kwon In Montenegro Denied!

He is one of the fallen crypto heroes: Do Kwon, co-founder and CEO of Terraform Labs, was arrested in Montenegro in March 2023 amidst charges of orchestrating a multi-billion dollar crypto asset securities fraud. By June, he received a four-month jail sentence from a Basic Court in Podgorica for forging official documents. His appeal was denied by the Montenegro High Court, affirming the "adequate" punishment for his crime.
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FTX Bankruptcy case continues with sell-offI
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November 14, 2023

Interesting: FTX Estate Sues Bybit to Return $953M In Allegedly ‘Misappropriated Funds’

In a recent development in the cryptocurrency sector, the estate of the now-bankrupt U.S. crypto firm FTX has initiated legal action against Bybit, a competing exchange platform. The lawsuit, filed in Delaware, seeks the recovery of approximately $953 million. This sum represents assets and cash that FTX alleges were improperly withdrawn by Bybit’s investment arm, Mirana Corporation, prior to FTX’s bankruptcy declaration.
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Sam Bankman-Fried sentencedS
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November 6, 2023

Sam Bankman-Fried’s Legal Troubles Deepen After Conviction – The FTX Case Continues Unfolding

In the Aftermath of a high-profile conviction, the FTX drama persists. The crypto universe watched in disbelief as one of its most iconic figures, Sam Bankman-Fried (SBF), faced the full force of the law with a potential century-long prison sentence hanging over his head. The co-founder and one-time CEO of the now-defunct crypto FTX exchange was convicted on an array of charges, including fraud and money laundering, with a sentencing date set for March 28, 2024.
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Rene Benko and his Signa Group are in troublesB
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November 3, 2023

Breaking: Disgraced Real-Estate Tycoon Rene Benko Gives Up Control Over His Troubled SIGNA Group!

Austrian real estate tycoon Rene Benko was stripped of his power and had to give up the shares in his severely ailing SIGNA, one the largest European real-estate groups. The equation of rising interest rates plus more restrictive lending with a high level of debt could no longer be solved. Like China's Evergrande, SIGNA relied on cheap credit and constantly rising real-estate prices. But these times have gone for good!
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Sam Bankman-Fried sentencedA
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November 3, 2023

As Expected: FTX Founder Sam Bankman-Fried Found Guilty!

In the New York District Court, after a trial lasting one month, Sam Bankman-Fried (SBF), 31, founder and former CEO of the globally prominent crypto exchange FTX, was convicted on charges of fraud and money laundering. The determination of the jury was reached swiftly, following a mere four and a half hours of deliberation.With the conviction, the crypto industry can also lock up a capital and hope for a fresh start.
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Sam Bankman-Fried was cross-examined in the New York trialC
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November 1, 2023

Crypto Trial: Final Cross-Examination Concludes The Trial Against FTX Founder Sam Bankman-Fried!

In the ongoing criminal fraud trial of FTX founder Sam Bankman-Fried (SBF), he faced a rigorous cross-examination by federal prosecutor Danielle Sassoon during a second consecutive day of testimony. The cross-examination on Tuesday centered on SBF's actions and statements leading up to the collapse of FTX in November. Repeatedly, he denied any knowledge of the misappropriation of billions of dollars in customer funds until shortly before the company's downfall last year.
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