SBF to strike plea deal, Mango exploiter arrested and Celsius news: Hodler's Digest, December 25-31
Top stories this week Bankman-Fried could appear in federal court in New York next week before Judge Lewis Kaplan
Former FTX CEO Sam Bankman-Fried is due in court on the afternoon of January 3 to plead guilty to two counts of wire fraud and six counts of conspiracy against him in connection with the collapse of FTX cryptocurrency exchange. . After being released on $250 million bail, Bankman-Fried reportedly met Michael Lewis, author of The Big Short: Inside the Doomsday Machine, a best-selling book that was made into a movie. which has sparked speculation that a film about the disgraced swap saga is on the way.
SBF borrowed $546 million from Alameda to fund Robinhood stock purchaseIn another Sam Bankman-Fried-related headline, an affidavit from the FTX founder revealed that he previously borrowed more than $546 million from Alameda Research to fund a Robinhood stock purchase. Later, those same shares were used by Bankman-Fried as collateral for a $600 million loan taken by Alameda from digital asset lender BlockFi. The shares are currently frozen and are worth around $450 million. BlockFi sued for the collateral actions in November.
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Argo Blockchain Sells Major Mining Facility to Galaxy Digital for $65 MillionIn an effort to survive the current bear market, cryptocurrency mining company Argo Blockchain has sold its flagship Texas mining facility, Helios, for $65 million. The new owner is Mike Novogratz's crypto investment firm, Galaxy Digital, which will also provide Argo with a new $35 million equipment financing loan to help the company reduce its debt. The agreement will allow Argo's mining operations to continue while reducing total debt, improving liquidity and improving the operating structure.
Mango Markets Exploiter Arrested for Fraud - Maybe It Was IllegalAvraham Eisenberg, the hacker who stole $110 million from decentralized exchange Mango Markets, has been arrested in Puerto Rico. Eisenberg called the exploit a "highly profitable business strategy" and noted that he considered all of his actions "legal open market actions". However, it seems that the United States Federal Bureau of Investigation (FBI) has a different interpretation of the facts. According to the FBI complaint, Eisenberg's actions constitute both fraud and market manipulation.
Celsius wants to extend claim deadline as attorney fees riseCelsius Network plans to file a petition to extend the deadline for users to submit complaints by one month, extending the deadline to early February. Celsius's creditors, however, do not appear to support the move, as fees for bankers, attorneys and advisers have already reached $53 million in the bankruptcy filing.
Former FTX CEO Sam Bankman-Fried is due in court on the afternoon of January 3 to plead guilty to two counts of wire fraud and six counts of conspiracy against him in connection with the collapse of FTX cryptocurrency exchange. . After being released on $250 million bail, Bankman-Fried reportedly met Michael Lewis, author of The Big Short: Inside the Doomsday Machine, a best-selling book that was made into a movie. which has sparked speculation that a film about the disgraced swap saga is on the way.
SBF borrowed $546 million from Alameda to fund Robinhood stock purchaseIn another Sam Bankman-Fried-related headline, an affidavit from the FTX founder revealed that he previously borrowed more than $546 million from Alameda Research to fund a Robinhood stock purchase. Later, those same shares were used by Bankman-Fried as collateral for a $600 million loan taken by Alameda from digital asset lender BlockFi. The shares are currently frozen and are worth around $450 million. BlockFi sued for the collateral actions in November.
Read also
FeaturesThe Year 1602 Revisited: Are DAOs the New Business Paradigm?
FeaturesNFT Communities Greenlight Web3 Movies: A Decentralized Future for Fans and Hollywood
Argo Blockchain Sells Major Mining Facility to Galaxy Digital for $65 MillionIn an effort to survive the current bear market, cryptocurrency mining company Argo Blockchain has sold its flagship Texas mining facility, Helios, for $65 million. The new owner is Mike Novogratz's crypto investment firm, Galaxy Digital, which will also provide Argo with a new $35 million equipment financing loan to help the company reduce its debt. The agreement will allow Argo's mining operations to continue while reducing total debt, improving liquidity and improving the operating structure.
Mango Markets Exploiter Arrested for Fraud - Maybe It Was IllegalAvraham Eisenberg, the hacker who stole $110 million from decentralized exchange Mango Markets, has been arrested in Puerto Rico. Eisenberg called the exploit a "highly profitable business strategy" and noted that he considered all of his actions "legal open market actions". However, it seems that the United States Federal Bureau of Investigation (FBI) has a different interpretation of the facts. According to the FBI complaint, Eisenberg's actions constitute both fraud and market manipulation.
Celsius wants to extend claim deadline as attorney fees riseCelsius Network plans to file a petition to extend the deadline for users to submit complaints by one month, extending the deadline to early February. Celsius's creditors, however, do not appear to support the move, as fees for bankers, attorneys and advisers have already reached $53 million in the bankruptcy filing.
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