#ftx

Wallets linked to the bankrupt companies FTX and Alameda Research have conducted a new round of cryptocurrency transfers, amounting to $10.8 million, to accounts on Coinbase, Binance, and Wintermute.

The Chairman of the U.S. Commodity Futures Trading Commission, Rostin Behnam, recently declared that American regulators are yet to be equipped with the necessary powers to prevent a repeat of the FTX collapse.

The group will be focusing on a key aspect FTX was criticized for: safeguarding customer funds.

Wintermute, an algorithmic trading firm in digital assets, accuses NEAR Foundation and Aurora of failing to uphold their agreement involving the conversion of $11 million worth of the now-defunct USN stablecoin to USDT. These tokens originated from the now-defunct FTX exchange and were acquired by Wintermute in exchange for fiat currency with the assurance of a complete conversion.

He could face up to 115 years in prison. A tentative sentencing date is set for March 28. Meanwhile, Caroline Ellison, Gary Wang (FTX co-founder), and Nishad Singh (FTX CTO) might be spared prison and hit with fines instead.

FTX has initiated discussions with three undisclosed bidders regarding their platform's relaunch. They are considering three options:

The OTC trades of FTX creditor claims are now valued at over 50 cents per dollar lost. This signals a growing belief in recovering at least half of their assets. This surge follows the disclosure of FTX's substantial stake in the AI company, Anthropic. The potential sale of this stake holds promise for a more successful fund recovery for creditors.

The regulator is investigating whether the platform possesses a mechanism to potentially control customer assets, similar to FTX.

Ross Rheingans-Yoo, an ex-employee of the now-bankrupt crypto exchange FTX's charitable arm, is pursuing legal action to claim the remaining $275,000 of a bonus he asserts was promised by Sam Bankman-Fried upon his recruitment. He has reportedly only received $375,000 for his tenure, which lasted less than a full year.

A year has passed since November 11, 2022, the day Sam Bankman-Fried resigned as the CEO of FTX and the company filed for bankruptcy.

According to Claims Market, there has been a rise to 55% in the value of claims from FTX’s creditors after Sam Bankman-Fried was found guilty on all charges, and Anthropic’s market value has gone up.

Addresses linked to FTX and Alameda Research continue transferring tokens to centralized exchanges. In the last 24 hours, they've moved crypto assets valued at over $13 million, as per Spot On Chain data.

An expert witness will provide responses to the testimonies of Caroline Ellison and developer Adam Yedidia, as well as those of former FTX CTO Gary Wang and Head of Engineering Nishad Singh.

The saga continues for the account holders of the bankrupt FTX cryptocurrency exchange as phishing threats resurface. Emails, claiming to provide a shortcut for fund withdrawals without the legal red tape, are being sent.