SBF Sent Home, FTX Chiefs Plead Guilty, Binance Obtains Voyager Assets: Hodler's Digest, Dec 18-24
Top stories this week SBF sent home after his parents built their house to cover his astronomical deposit
Sam Bankman-Fried will be spending the holidays with his family in Palo Alto, Calif., after his parents secured $250 million in bail with the equity in their home. Bail conditions include house arrest, location monitoring and the surrender of his passport. The former FTX CEO signed surrender papers on Dec. 20 authorizing his extradition from the Bahamas to the United States, where he faces eight charges that could keep him behind bars for the rest of his life. . Bankman-Fried will now await his sentence at home with his family.
Caroline Ellison and Gary Wang plead guilty to fraud chargesCaroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX, have pleaded guilty to federal fraud charges. Ellison, however, is working on a plea deal with the United States Attorney's Office for the Southern District of New York that would escape the seven charges against her, resulting in a $250,000 bail and prosecution solely for tax offenses. criminal. The agreement does not protect against any further charges Ellison may face from other authorities. Wang and Ellison are reportedly cooperating with US authorities on investigations related to the FTX collapse.
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Genesis and DCG Seek Pathway for Asset Recovery Amid Liquidity ChallengesGlobal investment bank Houlihan Lokey has proposed a plan to address liquidity issues at crypto lender Genesis and its parent company, Digital Currency Group (DCG). The plan, devised by Houlihan on behalf of a committee of creditors, would further provide an avenue for customers of crypto exchange Gemini to recover assets owed by Genesis and DCG. Withdrawals from the Genesis platform have been suspended since November 16, days after the company revealed that nearly $175 million of its funds were locked in an FTX account.
Binance.US Set to Acquire Voyager Digital Assets for $1 BillionWith an offer of $1.022 billion, Binance.US will acquire the assets of bankrupt crypto lender Voyager Digital. The sale, however, is subject to a creditor's vote and closing requirements. A hearing will also be held in bankruptcy court to approve the purchase agreement on January 5, 2023. In good faith, Binance has agreed to deposit $10 million and reimburse Voyager for certain expenses up to a maximum of $15 million. dollars.
Twitter adds BTC and ETH price indices to search functionIn its latest push into the crypto space, Twitter has added price indices for Bitcoin and Ether to its search feature. The new feature allows users to simply search for the stock symbol, whether stock or crypto, and check the price chart. Other cryptocurrencies, including Dogecoin, were not on the list. The company plans to expand its coverage in the coming weeks.
Sam Bankman-Fried will be spending the holidays with his family in Palo Alto, Calif., after his parents secured $250 million in bail with the equity in their home. Bail conditions include house arrest, location monitoring and the surrender of his passport. The former FTX CEO signed surrender papers on Dec. 20 authorizing his extradition from the Bahamas to the United States, where he faces eight charges that could keep him behind bars for the rest of his life. . Bankman-Fried will now await his sentence at home with his family.
Caroline Ellison and Gary Wang plead guilty to fraud chargesCaroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX, have pleaded guilty to federal fraud charges. Ellison, however, is working on a plea deal with the United States Attorney's Office for the Southern District of New York that would escape the seven charges against her, resulting in a $250,000 bail and prosecution solely for tax offenses. criminal. The agreement does not protect against any further charges Ellison may face from other authorities. Wang and Ellison are reportedly cooperating with US authorities on investigations related to the FTX collapse.
Read also
FeaturesIs Ethereum on the left and Bitcoin on the right?
FeaturesAre you still independent? Financial self-sovereignty and decentralized exchanges
Genesis and DCG Seek Pathway for Asset Recovery Amid Liquidity ChallengesGlobal investment bank Houlihan Lokey has proposed a plan to address liquidity issues at crypto lender Genesis and its parent company, Digital Currency Group (DCG). The plan, devised by Houlihan on behalf of a committee of creditors, would further provide an avenue for customers of crypto exchange Gemini to recover assets owed by Genesis and DCG. Withdrawals from the Genesis platform have been suspended since November 16, days after the company revealed that nearly $175 million of its funds were locked in an FTX account.
Binance.US Set to Acquire Voyager Digital Assets for $1 BillionWith an offer of $1.022 billion, Binance.US will acquire the assets of bankrupt crypto lender Voyager Digital. The sale, however, is subject to a creditor's vote and closing requirements. A hearing will also be held in bankruptcy court to approve the purchase agreement on January 5, 2023. In good faith, Binance has agreed to deposit $10 million and reimburse Voyager for certain expenses up to a maximum of $15 million. dollars.
Twitter adds BTC and ETH price indices to search functionIn its latest push into the crypto space, Twitter has added price indices for Bitcoin and Ether to its search feature. The new feature allows users to simply search for the stock symbol, whether stock or crypto, and check the price chart. Other cryptocurrencies, including Dogecoin, were not on the list. The company plans to expand its coverage in the coming weeks.
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