Bloomberg: SBF's comments in tweets and group chats used as evidence in his historic fraud trial
SBF's comments in tweets and group chats were used as evidence in his historic fraud trial. Prosecutors provided screenshots of messages, social media posts, and internal documents showing how SBF and his trading company Alameda Research planned a plan worth billions of dollars on his FTX cryptocurrency exchange. These documents reveal the mechanisms of his alleged fraud and the differences between his public statements and private instructions to his inner circle. (Bloomberg)
FTX pledged more than 5.5 million Solana today, worth $122 million.
On October 14th, according to The Block, SolanaFM's on-chain data shows that earlier today, FTX assets pledged over 5.5 million Solana (SOL) tokens worth $122 million from a major wallet on the Solana blockchain. On-chain analyst ashpool pointed out that one of the wallet addresses managed by FTX assets delegated the tokens to Figment, which is one of the network validators used for staking.
Haseeb Qureshi, managing partner of crypto venture fund Dragonfly: “I don’t want to invest in the next FTX”
Haseeb Qureshi, managing partner of the cryptocurrency risk fund Dragonfly, discussed the recent SBF and FTX bankruptcy cases in a recent interview. He stated that the venture capital has changed its investment approach due to the FTX incident, but problems will still arise in the future cryptocurrency market, although they may not be similar to FTX due to human greed. As a native cryptocurrency venture capital company, Dragonfly's approach is to "not invest in the next FTX" and ensure that invested projects/companies do not become FTX. Haseeb Qureshi also stated that investment giants such as Sequoia Capital, Tiger Global Fund, and SoftBank did indeed lose money in the FTX investment, but there are still cryptocurrency funds active in this industry, and venture capital firms such as Paradigm and Pantera Capital have not left.
FTX cold wallet pledged over US$121 million in SOL to Figment this morning
According to Whale Alert monitoring, at 09:34:41 Beijing time today, 5,546,217 SOL tokens (equivalent to $121,255,031) were transferred from an unknown wallet starting with 9uyDy9 to another newly created unknown wallet starting with 5eUEWs. Solscan data shows that the 9uyDy9 wallet is an FTX cold wallet.
Blockchain data analyst Ashpool stated that this transfer was made by FTX estate for staking SOL, which will ultimately be staked with Figment.
FTX estate (bankruptcy trustee) is responsible for overseeing the bankruptcy and restructuring of FTX exchange. According to data disclosed in September, FTX estate holds over $1.16 billion in SOL, accounting for approximately 16% of its total market value. (Coin Edition)
Previously, FTX creditor @sunil_trades released an updated FTX shareholder report on X platform on September 11th.
The report shows that as of August 31st, FTX (including FTX.com, FTX.US, Alameda) holds approximately $3.4 billion worth of crypto assets.
Ranked by position value, the holdings are SOL (with a position value of approximately $1.162 billion), BTC (with a position value of approximately $560 million), ETH (with a position value of approximately $192 million), APT (with a position value of approximately $137 million), USDT (with a position value of approximately $120 million), XRP (with a position value of approximately $119 million), BIT (with a position value of approximately $49 million), STG (with a position value of approximately $46 million), WBTC (with a position value of approximately $41 million), WETH (with a position value of approximately $37 million).
Analyst: FTX assets are staking 5.5 million SOL
According to on-chain data analyst Ashpool, FTX assets are currently staked with 5.5 million SOL. Ashpool referenced another post from Whale Alert, which showed a SOL transaction between two unknown wallets for 5,546,217 SOL, equivalent to $121,255,031. Ashpool's alert sparked discussion among many cryptocurrency users, with many trying to understand the narrative behind FTX's recent actions. A respondent named "rpcmert" under Ashpool's post recalled a statement from Caroline Ellison, a close partner of SBF, who stated that FTX has locked SOL tokens on the network of the project.
BlockFi CEO: Alameda and FTX are to blame for BlockFi’s collapse
BlockFi CEO Zac Prince testified in the SBF trial that Alameda and FTX were the main culprits behind BlockFi's collapse, and stated that he would never have issued loans if he had known that Alameda's balance sheet contained false information.
Sam Bankman-Fried's Attorneys Seek to Cross-Examine Every Witness After Former Alameda CEO's Testimony
Attorneys representing Sam Bankman-Fried have requested to cross-examine all witnesses following former Alameda CEO Caroline Ellison in a letter motion submitted to Judge Lewis A. Kaplan on October 12. The motion addresses evidence-related issues that have arisen during the trial and are likely to occur again with subsequent witnesses.
Secretly Recorded Audio Reveals Alameda Research "Borrowed" User Funds from FTX, Leading to Collapse
A secretly recorded audio clip lasting 75 minutes has been released, revealing the moment 15 former Alameda Research staff learned that the hedge fund was "borrowing" user funds from FTX. The recording, obtained by Cointelegraph, sheds new light on the tension felt by Caroline Ellison and Alameda staff leading up to FTX's collapse.
Former Alameda CEO: Changpeng Zhao’s tweets “contributed” to FTX’s collapse
Former CEO of Alameda Research, Caroline Ellison, testified that a tweet from Binance CEO Changpeng Zhao (CZ) caused the collapse of the cryptocurrency exchange FTX. In the tweet on November 6, 2022, CZ announced that Binance would liquidate its holdings of FTX tokens (FTT). Many reports claim that the liquidation of the tokens caused retail investors to follow Binance in withdrawing from FTX. The platform's run on withdrawals led to FTX ceasing withdrawals and filing for bankruptcy on November 11th.
Ellison stated that while CZ's tweet "contributed" to the collapse of FTX, the main reason was that Alameda borrowed 10 billion US dollars from the exchange that they were "unable to repay".
Russian Cybercriminal Groups Suspected in $400 Million FTX Crypto Exchange Heist
Elliptic, a research firm, has traced stolen assets worth $400 million from the now-defunct FTX crypto exchange to Russia-based cybercriminal groups. The attackers used RenBridge to move 65,000 ETH to the Bitcoin blockchain and employed a blockchain-based tool called a mixer to cover their tracks. However, at least $4 million of these assets made their way to various exchanges, hinting at a possible cash-out attempt. Elliptic's analysis suggests a Russian connection, as a significant portion of the stolen assets merged with funds linked to Russian criminal syndicates.
