Bankrupt crypto exchange FTX has sued former employees of Salameda, a Hong Kong-incorporated entity affiliated with FTX that it says was controlled by the firm’s ex-CEO, Sam Bankman-Fried, to recover about $157.3 million, according to a court filing late Thursday. The filing alleges Michael Burgess, Matthew ...Read More

U.S. lenders are holding onto large piles of cash as insurance against a slowing economy, continuing deposit outflows and looming tougher liquidity rules that could particularly impact mid-sized banks. The buildup is another example of a risk-averse approach from a sector still trying to ...Read More

The U.S. Securities and Exchange Commission (SEC) was granted emergency relief by a Florida court on Monday to freeze and appoint a receiver for the assets of Miami-based crypto hedge fund BKCoin and one of its co-founders, Kevin Kang. According to regulators, BKCoin and Kang raised ...Read More

Federal prosecutors seized nearly $700 million in cash and assets connected to Sam Bankman-Fried, primarily in the form of Robinhood shares that were owned by the FTX founder, a court filing revealed Friday. John Ray, who replaced Bankman-Fried as CEO to guide FTX’s restructuring, is ...Read More

As Binance walks away from bailing out rival crypto exchange FTX, the rapidly unfolding saga is putting crypto on U.S. regulators’ radars yet again. “It does not matter that these are global exchanges. It feeds the narrative that crypto companies are taking excessive risks ...Read More