bankman-fried

Battle over Assets in Criminal Case Against Former FTX CEO

The Big Whale

18 Jun 2024 — 1 min read

Competing claims over assets in case against former FTX CEO Sam Bankman-Fried.
FTX debtors argue for superior right to assets to benefit victims.
Debtors petition for return of specific property to benefit all creditors.
Group of claimants want forfeited assets to go to FTX users.
Judge has not made decision on petitions; FTX bankruptcy case ongoing.
Bankman-Fried serving 25-year sentence; other executives await sentencing.

Summary :
Different groups have filed competing claims over the assets involved in the criminal case against former FTX CEO Sam Bankman-Fried. Lawyers representing FTX debtors and the firm's Bahamian entity argue that they have a superior right to the assets, which should be used to benefit victims of the defunct exchange. Another group of claimants, represented by crypto lawyers, is calling for the assets to be surrendered to FTX users instead of the debtors. A decision has not yet been made regarding these petitions. Bankman-Fried is currently serving a 25-year sentence in federal prison.

Sources :

- CoinTelegraph

TBW - Rand Hindi (Zama): "Confidentiality is the missing key to mass adoption of institutional services".

"Confidentiality is the missing key to mass adoption of institutional services".

TBW - John Egan (Stripe): "We want to build a global network for payments and treasury"

"We want to build a global network for payments and treasury".

TBW - EXCLUSIVE. Fortuneo could allow its customers to invest in cryptos

Allowing customers to invest in digital assets has become a must have. Especially for fintechs and neobanks. According to our sources, French neobank Fortuneo could allow its clients to invest in cryptocurrencies. "It's a matter of months," explains a source close to the neobank. "We

TBW - The crypto strategy of Stripe, the new giant in the sector

Since its first trials with bitcoin in 2014, Stripe has always kept a close eye on crypto-assets as payment methods. After dropping support for BTC in 2018, the US company has relaunched its strategy, this time betting on stablecoins. The acquisition of startup Bridge for $1.5 billion marked a

Read more

TBW - Rand Hindi (Zama): "Confidentiality is the missing key to mass adoption of institutional services".

TBW - John Egan (Stripe): "We want to build a global network for payments and treasury"

TBW - EXCLUSIVE. Fortuneo could allow its customers to invest in cryptos

TBW - The crypto strategy of Stripe, the new giant in the sector