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ftx bankruptcy: FTX expects US to reduce bankruptcy claim to $3 billion to $5 billion

Crypto exchange FTX said it expects to negotiate U.S. government claims in its bankruptcy down to $3 billion to $5 billion, leaving no money for shareholders and contradicting a "reckless and false" claim by founder Sam Bankman-Fried that FTX's collapse caused no harm. FTX revealed those estimates in court documents on Wednesday in response to founder Sam Bankman-Fried's claims that he should receive a light prison sentence because FTX will be able to repay its customers "in full". Bankman-Fried was convicted in November…

FTX CEO blasts crypto founder Sam Bankman-Fried for saying that fraud

The chief executive of the cryptocurrency company Sam Bankman-Fried founded attacked the onetime crypto power player on Wednesday in a letter to a federal judge scheduled to sentence him next week, saying his claim that customers, lenders, and investors were not harmed was callously false and he was living a “life of delusion.”FTX Trading Limited CEO John J. Ray III told Judge Lewis A. Kaplan that Bankman-Fried’s victims have suffered and continue to suffer from his crimes.“Mr. Bankman-Fried continues to live a life of…

In a letter to Judge Kaplan, FTX CEO John Ray says SBF's claims of "zero" harm to users are "demonstrably false"…

Sidhartha Shukla / Bloomberg: In a letter to Judge Kaplan, FTX CEO John Ray says SBF's claims of “zero” harm to users are “demonstrably false” and FTX had only 105 bitcoin when Ray took over — - Ray called the claims ‘callously’ and ‘demonstrably’ false — SBF had claimed customers on the exchange suffered no harm Sidhartha Shukla / Bloomberg: In a letter to Judge Kaplan, FTX CEO John Ray says SBF's claims of “zero” harm to…

Prosecutors request FTX’s Sam Bankman-Fried get 40 to 50 year sentence

Federal prosecutors asked a New York judge on Friday to sentence FTX founder Sam Bankman-Fried to between 40 and 50 years in prison for cryptocurrency crimes they described as a “historic fraud.”Prosecutors made the request as they submitted their presentence recommendations to a federal judge who will sentence a man who at one time dazzled the cryptocurrency world with his promotional skills, including his access to famous people willing to promote his businesses.Bankman-Fried, 32, is scheduled to be sentenced in…

Slerf Shows the Crypto Crowd’s Standards Are Lower Than Ever

While multi-billion dollar disasters like FTX would lead a reasonable person to believe that the cryptocurrency industry is dead or dying, the unfortunate truth is that it’s doing just fine. Not only has Bitcoin’s market price been on a familiar rollercoaster ride lately, but droves of crypto believers have, in recent weeks, proven themselves willing invest in some of the most ridiculous projects ever.Why Do People Buy into Crypto? | Gizmodo InterviewCase in point: the Slerf token. Slerf is a sloth-themed memecoin that…

ftx fine: FTX reaches settlement with BlockFi, may pay up to $874 million

Bankrupt crypto companies FTX and BlockFi have resolved their disputes stemming from the companies' collapses in 2022, with FTX agreeing to pay BlockFi up to $874 million, according to court documents filed on Wednesday.The settlement is subject to approval by U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitMITMIT Technology Leadership and…

Bitcoin Surges Toward All-Time High as Everyone Forgets What Happened Last Time

Bitcoin’s price surged past $63,000 and then receded just a bit under on Wednesday, reaching a level the crypto coin hasn’t seen since November 2021. While it still has a little way to climb to reach an all-time high of $68,000, that level feels comfortably within reach. And if you’re feeling uneasy about the rally, given what happened two years ago, you’re not alone.The Biggest Crypto Heists of 2022…So FarWhat’s causing Bitcoin’s dramatic climb? The consensus seems to be it’s all FOMO, or the fear of missing out.“We’ve…

Sam Bankman-Fried says 63-78 months should guide sentencing for FTX fraud

Lawyers for FTX founder Sam Bankman-Fried on Tuesday suggested to a U.S. judge that sentence ranging between 63 and 78 months would be an appropriate punishment for his conviction on charges of stealing $8 billion from customers of his now-bankrupt cryptocurrency exchange. Lawyers for FTX founder Sam Bankman-Fried on Tuesday suggested to a U.S. judge that sentence ranging between 63 and 78 months would be an appropriate punishment for his conviction on charges of stealing $8 billion from customers of his now-bankrupt…

ftx anthropic share sale: Crypto exchange FTX to sell shares in AI startup Anthropic

Bankrupt crypto exchange FTX may sell its shares in artificial intelligence startup Anthropic, a U.S. judge ruled Thursday.US Bankruptcy Judge John Dorsey in Wilmington, Delaware approved FTX's proposal to sell the shares after FTX reached a compromise in court with a group of FTX customers that had opposed the sale. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIIM KozhikodeIIMK Advanced Data Science For…

Winklevoss Twins Donate $4.9 Million to Crypto Group Trying to Influence 2024 Election

Tyler and Cameron Winklevoss have donated $4.9 million to the political action committee Fairshake, according to new filings with the U.S. Federal Election Committee. It’s just the latest windfall for Fairshake, which is spending millions to run attack ads against Katie Porter, a Democrat who’s running for Dianne Feinstein’s old U.S. Senate seat in California.What Drew Noomi Rapace to Constellation?The new donation from the Winklevoss twins, first reported by Crypto Telegraph Wednesday, comes after huge players in the…