FTX

FTX Targets Major Players in New Lawsuits: A Quest to Reclaim Billions and Restore Investor Trust

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In a significant legal move, FTX’s bankruptcy estate has initiated 23 new lawsuits against major entities including Binance, Anthony Scaramucci’s SkyBridge Capital, and Crypto.com, as well as a lobbying group backed by Mark Zuckerberg, Fwd.us. This aggressive legal strategy seeks to reclaim billions of dollars vanished in the cryptocurrency exchange’s unexpected downfall last year. FTX, which was once a dominant player in the cryptocurrency market, faced a catastrophic collapse in 2022, leading to a loss of over $8 billion of investor funds. The newly filed lawsuits, including a major claim against Binance and its former … Read more

FTX Settles $228 Million Lawsuit with Bybit, Drops Legal Action in Groundbreaking Agreement

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In a significant turn of events in the cryptocurrency sector, FTX Trading Ltd. has reached an agreement to settle its legal disputes with competitor Bybit by dropping a lawsuit in exchange for a $228 million settlement. This decision marks an end to the tensions that escalated last March when FTX accused Bybit of infringing on its intellectual property rights by copying the structure and content of its application programming interface, or API. The settlement not only concludes the pending litigation but also introduces a strategic partnership between the two firms. As part of the agreement, … Read more

High Stakes Defense: P Diddy Secures FTX CEO’s Lawyer Amidst Controversial Charges!

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NEW YORK — As legal challenges intensify for entertainment mogul P Diddy, he has enlisted Alexandra Shapiro, a prominent attorney known for representing Sam Bankman-Fried, the former CEO of FTX facing separate legal battles. This pivotal move comes amid Diddy’s pressing charges including racketeering and sex trafficking, which also spotlight intricate links between high-profile celebrities and the volatile world of cryptocurrency. Arrested on September 16 in Manhattan, Diddy confronts severe allegations that have sparked widespread media coverage and discussions about celebrity influence on legal and financial realms. His choice of Shapiro, renowned for navigating complex … Read more

FTX Founder Sam Bankman-Fried Seeks Retrial, Alleging Judicial Bias in Previous Conviction

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New York — The legal team for FTX co-founder Sam Bankman-Fried, who was found guilty of fraud and money laundering following the collapse of the cryptocurrency exchange, is calling for a retrial. Bankman-Fried, who had risen to prominence in the world of cryptocurrency trading, was sentenced to 25 years in prison and ordered to forfeit $11 billion. His conviction came after a highly publicized trial that culminated in a unanimous verdict on all seven counts against him. Currently serving his sentence in Brooklyn, the embattled former CEO’s new appeal centers on claims of judicial misconduct. … Read more