Arnold appeared to have been eviscerated by the CME’s legal team. For his part, Dr. Arnold’s report from this past July, when he estimated the “total foregone fees across all Plaintiffs is $1.008 billion excluding prejudgment interest and $1.390 billion including prejudgment interest ...
Crypto Contagion Cryptocurrency exchanges like Crypto.com downsized due to a surge of customer withdrawals following FTX's collapse. Cryptocurrency lenders and banks BlockFi, Genesis Global, Celsius, and Voyager Digital underwent bankruptcy liquidations and legal proceedings for authorizing severely undercolla...
The litigation, filed in Miami, has cast a spotlight on the important role that high-profile athletes, actors and other entertainers played in promoting FTX. Although somelegal expertsthink it will be tough to prove liability, the federal case is forcing a reexamination of how celebrities have ...
According to legal documents cited by Bloomberg, experts are trying to determine if all payments were above board. This includes sponsorships to well-knowns such as the NBA’s Shaquille O’Neal and professional tennis player, Naomi Osaka, who received approximately $3.2m from FTX. The once-prom...
FTX founder Sam Bankman-Fried told two media outlets this week that it was his mistakes and ignorance that led to the severe liquidity crisis that forced his $32 billion crypto empire into bankruptcy, comments that hint at his legal predicament. “I didn’t knowingly commingle funds,” Bankman...
There are three different, possibly simultaneous legal threats that Bankman-Fried faces in the United States alone, Levin told CNBC. First is criminal action from the U.S. Department of Justice, for potential "criminal violations ...
There are three different, possibly simultaneous legal threats that Bankman-Fried faces in the United States alone, Levin told CNBC. First is criminal action from the U.S. Department of Justice, for potential “criminal violations of securities laws, bank fraud laws, and wire fraud laws,” Le...
Hedge funds and private equity firms took a bigger swing in their legal fight with the Securities and Exchange Commission, alleging that the regulator lacked authority to impose a slate of new restrictions in August. Trade groups including the American Investment Council and the Managed Funds Associa...
The class action lawsuit concerned alleged cybersecurity failures on the part of Coinbase and seeks to compensate customers who allegedly had their accounts breached and “incurred losses arising from the unauthorized transfer of assets.” In the filing, the plaintiff alleged he had $6,000 of ...