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.

In March 29 objection filing, FTX’s lawyers objected to Bankman-Fried’s attempt to prioritize his own legal fees at the expense of other potential claimants, stating:

Sam Bankman-Fried, the former CEO of FTX cryptocurrency exchange, is reportedly using funds from Alameda Research, a quantitative trading firm he co-founded, to cover the costs of his legal defense in a lawsuit filed against him by his former employer.

Sam Bankman-Fried, founder of fallen crypto exchange FTX, has been paying his legal fees from a multi-million dollar gift he gave his father with money borrowed from FTX's sister company, according to Forbes. Bankman-Fried, who has pleaded not guilty to criminal charges including wire fraud, money laundering and securities fraud, is accused of misappropriating FTX customer funds through Alameda Research, the company's trading firm. Bankman-Fried made a large monetary gift to his father, Stanford Law professor Joseph Bankman, which was funded by a loan from Alameda Research, according to Forbes. Lawyers for FTX did not respond to a request for comment.

The Chinese government has been proactively pursuing advancements in its blockchain sector and aims to upgrade its industry development standards by 2025.

FTX founder Sam Bankman-Fried's lawyers have reportedly reached a new bail agreement with US prosecutors, allowing him to stay at home while restricting the use of some electronic devices and apps. Proposed new conditions would prohibit Bankman-Fried from using a smartphone with internet access or any apps other than voice calls and text messaging, and require him to use a basic laptop with limited functions and monitoring software to track user activity. The use of any other electronic communication devices would be forbidden. The agreement is yet to be approved by US District Judge Lewis Kaplan, who is overseeing Bankman-Fried's case.

Coinbase CEO Brian Armstrong sold Coinbase shares prior to receiving a warning from the Securities and Exchange Commission (SEC)

On 22 March, the FTX estate filed a motion to enter into a settlement to recover $460 million in assets for stakeholders.

Before crypto exchange FTX and its founder Sam Bankman-Fried (SBF) got tied down around allegations of misappropriation of users’ funds, SBF was among the most influential crypto entrepreneurs. Long before FTX collapsed, an allegedly leaked email exchange with a top regulator shows SBF’s intent to get the exchange federally regulated.