Nishad Singh, former engineering boss at FTX, got off lightly. No jail time, just three years of supervision. Why? He cooperated with the government, helping unravel the crypto exchange's fraud. The judge praised his limited role compared to others like FTX founder Sam Bankman-Fried. Singh also forfeited $11 billion. Singh pleaded guilty to six charges, including se...
Nishad Singh, the former head of engineering at FTX, received no jail time and three years of supervised release on Wednesday. Instead of the maximum 75 years, he was ordered to forfeit $11 billion. Judge Lewis Kaplan praised Singh’s cooperation with the government, noting it was “remarkable. ” Sing was involved in the fraud, but Judge Kaplan believed his role was le...
Ryan Salame, the ex-co-CEO of FTX Digital Markets, is starting his lengthy fraud sentence today. Before heading to prison, he shared a lighthearted LinkedIn post to ease the tension. His update announced his new "position" as an "Inmate at FCI Cumberland," accompanied by a cheerful cartoon. It seems humor is his coping mechanism for the serious situation he's in. Af...
Once a powerful duo in the world of cryptocurrency, Ryan Salame and Michelle Bond are now facing serious legal troubles. Their story began when they met through their mutual connection to Sam Bankman-Fried, the founder of the now-collapsed FTX crypto exchange. Ryan, a top executive at FTX, was known for his political donations, while Michelle was a crypto policy advo...
FTX has officially received the green light from a bankruptcy court to start repaying its customers. The plan, approved on Monday, is set to use up to $16.5 billion in assets that the company managed to recover after its collapse. The court praised FTX for handling the complex bankruptcy process efficiently. The plan involves paying back customers of the crypto exch...
After FTX crumbled in late 2022, many thought their money was gone forever. But recently, a court gave the thumbs-up on a whopping $14 billion U.S. dollars payback plan. This means creditors (people who lent money to FTX) are in for a nice surprise. They'll get all their money back—plus some extra! John Ray, the guy in charge of FTX now, says this plan is a big deal...
UFC President Dana White is setting the stage for a big event in Las Vegas. The upcoming UFC 306 pay-per-view card will take place on September 14, coinciding with Mexican Independence Day. White has dubbed it “a love letter to Mexican people.” To make this event extra special, he's investing $20 million. Who inspired this big move? None other than NFL legend Tom Bra...
On Tuesday, Sept. 24, at 3 p.m. ET, Caroline Ellison will face sentencing in a New York court for her role in the FTX collapse. Ellison, formerly the CEO of Alameda Research and ex-girlfriend of Sam Bankman-Fried, pleaded guilty to seven counts of fraud after testifying against SBF. Despite potential jail time up to 110 years, she's requesting none due to her coopera...
Caroline Ellison, formerly the co-CEO of Alameda Research and a key player in the FTX scandal, is about to learn her sentence. Unlike her ex-business partner Sam Bankman-Fried, who received 25 years in prison, some experts think Ellison might avoid jail time entirely. What's her secret? She cooperated with authorities from the start. Last year, she pleaded guilty to ...
Caroline Ellison, a former crypto executive, has received a two-year prison sentence for her role in one of the largest financial frauds in history. As the co-chief executive of Alameda Research, Bankman-Fried's companion hedge fund, Ellison was a key witness for the prosecution. She cooperated with the government, providing crucial evidence against Bankman-Fried, he...