U.S. Government Sold $216M of Seized Silk Road Bitcoin This Month; BUSD Trading Temporarily Halted by Binance.US After CFTC Allegations

FTX EU has begun the process of allowing the withdrawal of client funds locked up since parent FTX filed for bankruptcy protection last November, according to a Friday press release.

Julia Leung has stated that cryptocurrency platforms must be regulated from the perspective of investor protection, as they are part of the Web 3.0 ecosystem.

Despite being described as "one of the biggest financial frauds in American history", a small group of FTX customers are hoping the troubled crypto exchange gets back in business. They track the exchange's financial statements in bankruptcy court, tally up the “reboot” meetings disclosed in lawyers’ hourly bills and document it all online. The company's new CEO, John Ray III, has floated rebooting the company, stating that "everything is on the table". However, the idea has left some industry experts scratching their heads, with one calling it "the oldest scam in crypto". FTX collapsed last fall after revealing it was short $8bn in customer cash, and its former CEO, Samuel Bankman-Fried, is currently facing trial on charges including bank fraud and bribery of Chinese officials.

FTX's counsel has proposed an order for Deltec International Group (DIG) to turn over assets from a promissory note linked to Alameda Research and former FTX executive Ryan Salame. Salame executed a promissory note agreeing to pay Alameda Research the principal amount of $50 million plus interest, which was later transferred to DIG. Despite the note being between Norton Hall and DIG, Norton Hall denied Salame's directorship and did not authorize the DIG Promissory Note. The debtors have reached an agreement with DIG, Norton Hall, and Ryan Salame regarding repayment of the note, but the amount to be received is not disclosed. A hearing on the order is set for April 12.

FTX founder and former CEO Sam Bankman-Fried pleaded not guilty to charges of attempted bribery and campaign finance violations unveiled in two recent superseding indictments during a court appearance on Thursday.

According to data acquired by Finbold, three cryptocurrency firms with a cumulative valuation of $42.3 billion made it to the list of top 10 leading fintech unicorns globally as of Q4 2022.

FTX founder Sam Bankman-Fried will plead not guilty on charges of trying to evade campaign financing laws and attempting to bribe one or more Chinese government officials, Reuters reported on Thursday.

Crypto exchange OKX has announced it will return $157 million in frozen assets from bankrupt crypto firms FTX and Alameda Research. The funds were seized in November 2022 after FTX collapsed. OKX had frozen accounts and safeguarded the assets associated with the bankrupt firm. It did not provide further information about the kind of assets it was returning. OKX also announced it would open an office in Australia soon as part of its global expansion attempt. The country is one of several pushing for crypto regulation, with its finance minister arguing that crypto assets should be regulated as financial products.

Cryptocurrency exchange OKX has announced its decision to hand over approximately $157 million in frozen assets related to FTX and Alameda Research to the debtors. This move comes in response to a motion filed in the FTX bankruptcy proceedings.