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The Latest Breaking News from John J Ray III

Judge OKs FTX Estate's Bankruptcy Plan – What's Next?

FTX is now clear to begin implementing its bankruptcy plan, which includes the expected full repayment of customers and creditors with up to $16.5 billion in recovered assets.

International Business Times

Sam Bankman-Fried Sentenced To 25 Years In Prison For Role In FTX Collapse

Sam Bankman-Fried on Thursday was sentenced to 25 years in prison for his role in the collapse of crypto exchange FTX.

Investors Business Daily

Sins of the father: Could Joe Bankman go to jail for helping his son run FTX?

“They were living high on the hog while advising a bunch of twentysomethings who had no idea what they were doing,” said a a white-collar defense specialist.

Fortune

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New bankruptcy proposal could see FTX creditors receive close to $9 billion by mid-2024

The FTX debtors group said the plan would be filed for approval by the bankruptcy court by Dec. 16.

Fortune

Sam Bankman-Fried’s parents sued by embattled crypto company FTX

Mr Bankman-Fried, 31, has pleaded not guilty to charges of fraud and conspiracy and his trial is set for 3 October in New York

The Independent UK

FTX estate continues to explore ‘FTX 2.0,’ reaching out to more than 75 bidders in reboot talks

John J. Ray III, current CEO of FTX, said in January that relaunching the exchange was a possibility.

Fortune

FTT jumps as much as 33% on news of potential FTX 'reboot'

The cryptocurrency has hovered at about $1 since FTX declared bankruptcy.

Fortune

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FTX Halts Sale Of AI Startup Anthropic Despite Whopping 9-Figure Price Tag: Report

FTX (CRYPTO: FTT) has suddenly put a stop to the sale of a coveted asset, which was previously believed to be on the auction block after the crypto exchange declared bankruptcy in November

Zenger

Sam Bankman-Fried: the crypto pioneer behind one of the largest financial frauds in history

The 30-year-old is facing decades in jail after being found guilty of fraud. So how did the FTX founder end up here? Amy Francombe reports

Evening Standard

Sam Bankman-Fried and other FTX staff allegedly had ‘Wirefraud’ chat group

Chat group on the platform Signal was reportedly used to send end-to-end encrypted information about FTX and its hedge fund

The Guardian - US

SBF was arrested before a pivotal congressional hearing on FTX’s monumental collapse. Here’s how to watch and what to expect

What questions will lawmakers ask with SBF in custody?

Fortune

Sam Bankman-Fried arrested in Bahamas as US files FTX charges

Sam Bankman-Fried, the disgraced co-founder of digital-asset exchange FTX, was arrested in the Bahamas after the US government filed a criminal indictment, following weeks of speculation that client funds were misused before his empire’s collapse.

Tribune News Service

Bahamas told Bankman-Fried to mint new crypto as FTX collapsed, lawyers say

Bahamas government officials are working closely with failed crypto magnate Sam Bankman-Fried and trying to help him regain access to key computer systems of bankrupt FTX Trading, lawyers for FTX said in a court filing.

Tribune News Service

FTX Wreck Still On Fire: "It's Stolen Customer Money ... Plain And Simple"

Don't buy in to Sam Bankman-Fried's media apology tour after the collapse of FTX, experts say. "It's stolen customer money," Coinbase CEO says.

Investors Business Daily

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ABC News

Sam Bankman-Fried's FTX empire was meant to revolutionise cryptocurrency and save the world. It didn't

By the time his bank account hit zero, the man who insisted he would one day be the "world's first trillionaire" had left only a trail of destruction in his wake.

WEKU

Sam Bankman-Fried strikes apologetic pose as he describes being shocked by FTX's fall

During an hour-long interview at the New York Times Dealbook Summit, Bankman-Fried frequently portrayed himself as in the dark about the condition of the multi-billion dollar exchange he founded.

WEKU

5 major revelations about the collapse of crypto giant FTX

At the first hearing in FTX's bankruptcy proceedings, lawyers confirmed that millions of dollars are stolen or missing, and revealed stunning details about the downfall of the once-mighty exchange

Tribune News Service

FTX attorney says ‘substantial amount’ of assets are either stolen or missing

A “substantial amount” of FTX Group’s assets “have either been stolen or are missing,” an attorney representing the firm told a bankruptcy court Tuesday in the company’s first court appearance since its rapid descent into insolvency.

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The Texas Tribune

Cryptocurrency firm FTX’s fall pains industry, but Texas stays optimistic

FTX’s bankruptcy has been a painful setback for the industry. But many legislators, investors and enthusiasts remain believers in making Texas crypto’s top destination.

Fortune

Scammers are targeting desperate FTX customers by pretending to be the DOJ and promising access to funds

Police warned Saturday about a website pretending to help desperate FTX users recover their funds.

Fortune

The FTX crash could be the start of a 'gold rush' for crypto lawyers

Lawyers with specialties in digital assets are giving way to experts in restructuring. “There's going to be a lot of work.”

inkl Originals

The Weekly Wrap for Saturday, 19 November 2022

We're loathe to kick someone while they are down but this story has gone from ludicrous to fever-dream. Sam Bankman-Fried is trying to tweet through it. FTX's bankruptcy specialists are rending their garments and ululating.

Zenger

Crypto Asset Class Going ‘Down In Flames,’ Steph Curry, Shaq Likely Safe In FTX Ponzi Case

FTX's bankruptcy may have cost investors $11 billion in damages, while celebrity promoters will probably walk away.

Fortune

Tech venture capital fueled FTX’s rise—and bears some responsibility for its downfall

Mounting evidence shows VC firms ignored major warning signs and failed to take basic risk-mitigation steps.

ABC News

FTX had a 'complete absence of trustworthy financial information' says new CEO

The man appointed to administer the collapsed crypto exchange in chapter 11 bankruptcy, who oversaw the clean-up after Enron's collapse, says he has never seen "such a complete failure of corporate controls".

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