FTX Trial Commences with DOJ Branding It a “House of Cards”, Defense Spotlights Caroline Ellison
The trial against FTX founder Sam Bankman-Fried has begun. The DOJ accuses him of deceiving customers, while the defense argues he acted in good faith, blaming external factors, including former employee Caroline Ellison. Key Takeaways The trial of Sam Bankman-Fried, founder of the crypto exchange FTX, took a dramatic start yesterday in New York. The U.S. Department of Justice (DOJ) …
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Temasek Employees Get Salary Cut After Failed FTX Investment
Temasek, a wealth management firm based in Singapore has cut the salary of the staff who were involved in its FTX investment. Temasek had invested $275 million in FTX which they wrote off. After an internal review was conducted by the team at Temasek, they found out that the employees were not involved in any kind of misconduct. Temasek said …
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FTX Advisors’ Q1 Billing Reaches Astounding $103M
Recently, five different law firms and consulting companies have charged FTX with a staggering sum of $103 million during the first quarter of the year. These fees consisted of multiple invoices from these law firms, and it appears that FTX saw the highest amount being billed in March 2023. About the FTX Billings Five corporations – that being Sullivan & …
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