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FTX is one of the biggest cryptocurrency exchanges, striving to develop a platform that is robust enough for professional trading firms and intuitive enough for first-time users. FTX offers innovative products, including derivatives, options, volatility products, and leveraged tokens.
The US government has sold the Anthropic shares held by two former FTX executives. The buyer and the use of proceeds remain undisclosed.
According to Business Insider, the federal government previously seized Anthropic shares held by FTX fraud case co-conspirators Caroline Ellison and Nishad Singh (valued at $10 million and $40 million, respectively) and sold them in 2025 to existing Anthropic investors. As Anthropic's valuation surged to $96.5 billion, the estimated value of these shares at the time of sale ranged from $250 million to $1.1 billion. However, there has been no record of the proceeds being transferred to the FTX bankruptcy liquidation account, leaving it unclear whether the funds will be used to compensate millions of FTX victims.
SEC Probes Collapse of AI Hedge Fund Situational Awareness
According to Reuters, the U.S. SEC is investigating AI hedge fund Situational Awareness's trading activities and high-leverage positions during the market turmoil in July, and has issued subpoenas to Wall Street banks including Goldman Sachs, JPMorgan, Citigroup, and Bank of America, requiring them to provide information related to the fund's trades and financing. Situational Awareness was founded by former OpenAI researcher Leopold Aschenbrenner, who previously worked at FTX Future Fund, with assets under management briefly exceeding $20 billion. In July, the fund suffered a monthly loss of approximately 67% due to declines in AI and chip stocks, and was subsequently forced to sell most of its public equity portfolio to Citadel.
WonderFi Founder Criticizes Canada's Innovation Environment: Struggling to Grow, Forced into Sale to Robinhood
Odaily News - Karia Samaroo, founder and former CEO of Canadian crypto company WonderFi, recently stated that the company's acquisition by US trading platform Robinhood Markets for CAD 250 million was not due to a lack of growth potential, but rather because Canada's market environment has restricted local tech companies from continuing to scale.Samaroo said that WonderFi was founded in 2021. After several years of development, the company consolidated Canada's fragmented crypto market, built a nationwide brand, and survived the QuadrigaCX collapse, the FTX crash, and Canada's strict crypto regulatory environment. By 2023, WonderFi had become a leading crypto platform in the Canadian market.However, he believes that succeeding in Canada was not the company's ultimate goal. WonderFi had originally hoped to grow into a global enterprise, and Robinhood saw WonderFi as a strategic gateway into the Canadian market, which led to the CAD 250 million acquisition. Samaroo pointed out that Canada has long faced structural issues that limit companies' ability to scale, including insufficient venture capital, weak public markets, regulatory fragmentation, and declining attractiveness of entrepreneurial returns.For the crypto industry, the challenges are even more pronounced. Samaroo noted that after the QuadrigaCX incident, Canadian regulators established one of the world's strictest crypto regulatory frameworks. While the original intent was to protect investors, it also increased operational costs for businesses. International trading platforms including Binance, OKX, Bybit, and Gemini all entered the Canadian market previously and then exited. He believes that Canada's crypto regulations are not only strict but also compounded by fragmented securities regulatory systems, leading to higher financing costs, increased operational complexity, and diminished interest from overseas investors.Samaroo said that WonderFi is not an isolated case—many Canadian tech companies have followed a similar trajectory: growing domestically until hitting market ceilings, then ultimately seeking overseas capital or strategic buyers. Shopify founder Tobi Lütke has also previously criticized Canada for repeatedly "nurturing important companies only to send them abroad." Restricting corporate sales can easily become a political statement, but the real key to solving the problem lies in building a business environment that supports companies in financing, expansion, and competing globally.Robinhood previously announced the acquisition of WonderFi for approximately CAD 250 million. This deal also reflects the accelerating consolidation in the North American crypto industry, as US platforms expand into other markets through M&A. (Fortune)
The bill outlines rules for handling digital assets in the event of an exchange or custodian bankruptcy
Fox Business crypto journalist posted on platform X, stating that the bill specifies the rules for handling digital assets when an exchange or custodian becomes insolvent. This legislation helps ensure customer assets receive the same protections as traditional financial assets and remain the property of the customers, rather than becoming part of the company's bankruptcy estate. This could help prevent a repeat of situations like FTX.
Gray Report: On-chain metrics indicate Bitcoin is undervalued, but not as severely as at previous cycle lows
Zach Pandl, Head of Research at Grayscale, released a research report stating that, based on multiple on-chain valuation metrics, Bitcoin’s current price is below its long-term average, indicating it is undervalued—though not to the same extent as previous cycle lows, such as those following the FTX collapse.
Bitcoin's "Silent Bear Market" Continues, Posting Worst Weekly Performance Since FTX Collapse
Bitcoin briefly fell below $60,000 last week, recording its worst single-week performance since the collapse of the FTX exchange in 2022. In the seven days through Sunday, Bitcoin accumulated a decline of 16%, retreating over 50% from its all-time high of over $126,000 in 2025.Multiple market analysts have warned that the current rebound may be difficult to sustain, and Bitcoin may not have reached the bottom of this cycle yet. Griffin Ardern, co-founder of Primal Fund, stated that the market is still "a considerable distance" from a "true bottom."Data shows that U.S. spot Bitcoin ETFs have recorded net outflows for 13 consecutive trading days, with total outflows reaching approximately $5.5 billion. Meanwhile, Bitcoin last week fell below the 200-week moving average, widely regarded as a key support level, further weakening market confidence. Paul Howard, a senior executive at crypto trading firm Wincent, described the current market conditions as a "silent bear market," arguing that breaking below the 200-week moving average is a significant confirmation signal that the market has entered a bear phase.Analysts point out that the ongoing U.S.-Iran conflict, the reversal of expectations for Federal Reserve interest rate cuts, and strong U.S. employment data are driving the market to reassess the rate path. A high-interest-rate environment is unfavorable for the performance of risk assets, including crypto assets. Additionally, some capital is flowing out of the crypto market into artificial intelligence and technology stock sectors.Despite this, the magnitude of the current correction is still smaller than historical bear market cycles. In past bear markets, Bitcoin typically retraced about 80% from its peak, whereas this cycle's decline is approximately 50%. Some traders believe that if the macroeconomic environment continues to deteriorate and companies holding large amounts of Bitcoin face financing pressures, the market still faces further downside risks in the future. (Bloomberg)
a16z Pressures U.S. Senate: If the CLARITY Act Fails to Pass, the Next FTX-Style Collapse Could Be Worse
Odaily News: Miles Jennings, Head of Policy and Regulation at a16zcrypto, wrote that the U.S. Senate should push for the passage of the Digital Asset Market CLARITY Act. Jennings stated that the risks exposed by the FTX collapse—such as customer asset segregation, custody, and information disclosure—are not complex, yet the existing digital asset market still lacks regulatory safeguards similar to those in traditional financial markets. The CLARITY Act would require digital asset brokers, dealers, and exchanges to implement measures such as customer asset segregation, qualified custody, information disclosure, and insider trading restrictions, while also clarifying the regulatory boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).Miles Jennings warned that with stablecoin supply now exceeding $300 billion and the market value of tokenized assets surpassing $30 billion, if the Senate fails to act this time, the impact of the next market collapse could be greater than that of the FTX incident.
SEC Probes Collapse of AI Hedge Fund Situational Awareness
According to Reuters, the U.S. SEC is investigating AI hedge fund Situational Awareness's trading activities and high-leverage positions during the market turmoil in July, and has issued subpoenas to Wall Street banks including Goldman Sachs, JPMorgan, Citigroup, and Bank of America, requiring them to provide information related to the fund's trades and financing. Situational Awareness was founded by former OpenAI researcher Leopold Aschenbrenner, who previously worked at FTX Future Fund, with assets under management briefly exceeding $20 billion. In July, the fund suffered a monthly loss of approximately 67% due to declines in AI and chip stocks, and was subsequently forced to sell most of its public equity portfolio to Citadel.
U.S. CFTC Imposes Trading Bans on FTX Co-Founder Gary Wang and Former Alameda CEO Caroline Ellison
Odaily News – The U.S. Commodity Futures Trading Commission (CFTC) announced that the U.S. District Court for the Southern District of New York has entered supplemental consent orders against Caroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX.Under the court orders, Ellison and Wang are required to continue cooperating with the CFTC's investigation, while also facing trading and registration restrictions. Specifically, Ellison received a 5-year trading ban and a 10-year registration ban; Wang received a 5-year trading ban and an 8-year registration ban. The relevant restriction periods begin from the date of the initial consent order, which was signed on December 23, 2022.Previously, on December 23, 2022, the court found Ellison liable for two counts of fraud alleged by the CFTC, and found Wang liable for one count of fraud. Their initial consent orders permanently prohibited them from violating the Commodity Exchange Act and the CFTC's related anti-fraud regulations.The head of the CFTC's Division of Enforcement, David I. Miller, stated that this ruling reflects the regulator's emphasis on "effective cooperation." Although Ellison and Wang, as executives of Alameda and FTX, were involved in the relevant fraudulent conduct and were held liable, the regulator granted leniency in light of their significant assistance in the FTX-related investigations.The CFTC stated that it will not currently require Ellison and Wang to pay restitution, disgorgement, or civil monetary penalties, primarily considering the extent of their cooperation in the investigations and related criminal cases, as well as the $11.02 billion asset forfeiture order involved in the U.S. criminal case. Both individuals have previously pleaded guilty in their criminal cases, including admitting to conspiracy to commit commodities fraud and multiple other charges.
Reform UK Calls for Investigation into SBF-Linked Political Donations
Reform UK Chairman Lee Anderson called for an investigation into the $50,000 political donation accepted by Defence Secretary Wes Streeting, which was allegedly linked to FTX founder Sam Bankman-Fried through a think tank.
Bullish executive urges passage of the CLARITY Act: The FTX incident proves the crypto market needs a legal regulatory framework
According to Odaily, Randi Abernethy, Head of Clearing and Group Risk at Bullish, stated that the U.S. Senate's failure to pass the Digital Asset Market Clarity Act (CLARITY Act) does not mean the digital asset market will stop developing; rather, it highlights the necessity of establishing a federal regulatory framework.Abernethy noted that during the Senate's consideration of the CLARITY Act, traditional U.S. financial institutions have continued to accelerate their entry into the on-chain market. JPMorgan Chase has explored tokenized ETF holdings through a production pilot with the Depository Trust & Clearing Corporation (DTCC), and more than 50 institutions (including BlackRock and Goldman Sachs) are also participating in the development of tokenized stock and Treasury bond infrastructure. The current regulatory discussion is no longer just a "crypto industry issue," but one that concerns the future infrastructure of the entire financial system.Abernethy cited the 2008 financial crisis as an example, noting that financial risk spreads along shared infrastructure, and even institutions not directly involved in related assets can be affected. Today, the stablecoin market size has exceeded $100 billion, with a large portion of stablecoin reserves invested in U.S. Treasuries. If a major stablecoin were to face a crisis, it could impact liquidity in traditional financial markets. She stated that supporters of the CLARITY Act believe the bill could establish a unified regulatory framework for the digital asset market, including core investor protection mechanisms such as customer asset segregation, conflict of interest management, capital requirements, and information disclosure. (CoinDesk)
WonderFi Founder Criticizes Canada's Innovation Environment: Struggling to Grow, Forced into Sale to Robinhood
Odaily News - Karia Samaroo, founder and former CEO of Canadian crypto company WonderFi, recently stated that the company's acquisition by US trading platform Robinhood Markets for CAD 250 million was not due to a lack of growth potential, but rather because Canada's market environment has restricted local tech companies from continuing to scale.Samaroo said that WonderFi was founded in 2021. After several years of development, the company consolidated Canada's fragmented crypto market, built a nationwide brand, and survived the QuadrigaCX collapse, the FTX crash, and Canada's strict crypto regulatory environment. By 2023, WonderFi had become a leading crypto platform in the Canadian market.However, he believes that succeeding in Canada was not the company's ultimate goal. WonderFi had originally hoped to grow into a global enterprise, and Robinhood saw WonderFi as a strategic gateway into the Canadian market, which led to the CAD 250 million acquisition. Samaroo pointed out that Canada has long faced structural issues that limit companies' ability to scale, including insufficient venture capital, weak public markets, regulatory fragmentation, and declining attractiveness of entrepreneurial returns.For the crypto industry, the challenges are even more pronounced. Samaroo noted that after the QuadrigaCX incident, Canadian regulators established one of the world's strictest crypto regulatory frameworks. While the original intent was to protect investors, it also increased operational costs for businesses. International trading platforms including Binance, OKX, Bybit, and Gemini all entered the Canadian market previously and then exited. He believes that Canada's crypto regulations are not only strict but also compounded by fragmented securities regulatory systems, leading to higher financing costs, increased operational complexity, and diminished interest from overseas investors.Samaroo said that WonderFi is not an isolated case—many Canadian tech companies have followed a similar trajectory: growing domestically until hitting market ceilings, then ultimately seeking overseas capital or strategic buyers. Shopify founder Tobi Lütke has also previously criticized Canada for repeatedly "nurturing important companies only to send them abroad." Restricting corporate sales can easily become a political statement, but the real key to solving the problem lies in building a business environment that supports companies in financing, expansion, and competing globally.Robinhood previously announced the acquisition of WonderFi for approximately CAD 250 million. This deal also reflects the accelerating consolidation in the North American crypto industry, as US platforms expand into other markets through M&A. (Fortune)
Alameda Research/FTX Unstakes and Transfers Approximately $20.62 Million in SOL
According to monitoring by Onchain Lens, Alameda Research/FTX-related addresses have unstaked and transferred 202,710 SOL worth approximately $20.62 million, with the corresponding tokens transferred to their bankruptcy asset staking wallet.
The US government has sold the Anthropic shares held by two former FTX executives. The buyer and the use of proceeds remain undisclosed.
According to Business Insider, the federal government previously seized Anthropic shares held by FTX fraud case co-conspirators Caroline Ellison and Nishad Singh (valued at $10 million and $40 million, respectively) and sold them in 2025 to existing Anthropic investors. As Anthropic's valuation surged to $96.5 billion, the estimated value of these shares at the time of sale ranged from $250 million to $1.1 billion. However, there has been no record of the proceeds being transferred to the FTX bankruptcy liquidation account, leaving it unclear whether the funds will be used to compensate millions of FTX victims.
US Government-Linked Wallet Holding Seized FTX/Alameda Funds Transfers Out 24.41 BTC
According to monitoring by on-chain analytics platform Lookonchain (@lookonchain), a US government-linked wallet holding seized FTX/Alameda funds transferred out 24.41 BTC approximately five hours ago, valued at roughly $1.92 million at the time.
Analyst: Bitcoin’s Weekly “God-Level Reversal” May Signal the Start of a New Bull Cycle
Odaily News Crypto analyst Ali posted on social platform X, stating that the end phases of Bitcoin’s two historical bear markets both exhibited a key characteristic—a sudden, powerful weekly reversal pattern. These “massive bullish candles” often catch the majority of market participants off guard and may serve as a signal for the start of a new bull market. Such moves are typically driven by “short squeezes.” As Bitcoin’s price rises, bearish traders continue to add short positions, but as the rally accelerates, these shorts are forced to cover, further fueling the upward momentum.Historical data shows that in 2019, near the end of Bitcoin’s bear market, a single week saw a 31.98% surge, followed by the onset of a new upward cycle. In January 2023, amid extremely pessimistic market sentiment following the FTX collapse, Bitcoin posted a 24.90% weekly gain, reversing prior bearish expectations.A similar pattern may now be unfolding in the current market. Although many investors, based on the “four-year cycle theory,” anticipated a market bottom in October, Bitcoin has recently rallied from $62,700 to $79,500, a one-week gain of 26.81%. If historical patterns hold, this robust weekly reversal could indicate that Bitcoin (BTC) has already entered the early stages of a new upward cycle.
Alameda Research Transfers $8.25 Million Worth of SOL to BitGo Custody Wallet, Possibly for FTX Creditor Repayment
According to Arkham monitoring, Alameda Research-associated addresses transferred a total of $8.25 million worth of SOL to BitGo custody wallets via 24 transactions, speculated to be for distribution to FTX creditors. Arkham data shows that Alameda currently still holds SOL worth over $200 million.
Worth $15.2 million, Alameda Research/FTX bankruptcy wallet transfers 201,800 SOL to BitGo, funds being used for over-the-counter sale
Odaily News According to Onchain Lens monitoring, the Alameda Research/FTX bankruptcy wallet transferred 201,780 SOL (approximately $15.2 million) to multiple BitGo custody wallets 10 hours after unstaking 201,740 SOL. The related funds are being redirected for over-the-counter sales. Meanwhile, FTX founder Sam Bankman-Fried remains incarcerated, serving a 25-year prison sentence.
FTX-related Netflix series "The Altruists" to premiere on November 19
Odaily News: Netflix has announced that "The Altruists," a series inspired by the rise and fall of FTX founder SBF and former Alameda Research CEO Caroline Ellison, will premiere on November 19, with the first stills released.The series consists of 8 episodes, with Anthony Boyle portraying SBF and Julia Garner playing Caroline Ellison. The plot follows two young idealists who attempt to rapidly reshape the global financial system, only to be accused of stealing $8 billion and ultimately fall from the pinnacle of financial power.The series is created by Graham Moore, inspired by articles from New York Magazine journalists Kevin T. Dugan and Jen Wieczner. Barack Obama and Michelle Obama serve as executive producers of the series. (Variety.com)
Bitcoin Small-Value Transfers Hit New High Since FTX Collapse, Coldcard Security Incident Sparks Self-Custody Debate
as the suspected hacking incident involving Coldcard wallets continues to unfold, Bitcoin small-value transfers have surged significantly, reaching their highest level since the FTX exchange collapse, reigniting market discussions on Bitcoin self-custody security.Julio Moreno, Head of Research at CryptoQuant, disclosed data on X platform showing that the number of on-chain Bitcoin transfers below 1 BTC has risen to its highest level since November 2022, with approximately 39,600 BTC transferred in a single day—only about 300 BTC below the record of 39,900 BTC set on November 16, 2022, just days after FTX filed for bankruptcy. He believes that users proactively taking action to address risks is a positive signal. Additionally, Eric Balchunas, Senior ETF Analyst at Bloomberg, noted that Bitcoin ETFs, backed by a mature regulatory framework and convenience, may offer some users a safer investment approach.However, industry insiders point out that the Coldcard incident more likely reflects issues with a single wallet provider or specific security processes, rather than indicating a failure of the entire Bitcoin self-custody system. This event once again highlights the importance of security awareness, risk diversification, and wallet usage habits in personal asset management.
ether.fi responds to supporting Kelp compensation fund with 5,000 ETH: Citing concerns that a hack could trigger a systemic DeFi collapse
Odaily News ether.fi CEO Mike Silagadze posted on X platform to explain the reason behind the company's commitment of 5,000 ETH to the Kelp hack recovery fund. He stated that the team believes this incident posed a real risk of "destroying the entire DeFi ecosystem." If Kelp were to go bankrupt, $1.5 billion worth of rsETH could be frozen long-term, potentially bringing the $30 billion Aave lending market to a standstill and triggering a cascading collapse across both DeFi and CeFi, which he described as making "FTX look insignificant by comparison." Mike Silagadze added that while most institutions chose to step back and defer to legal counsel, proactively taking responsibility and quickly raising funds to plug the gap was the right choice to help avert the worst-case scenario.
Cobie: Jesse Pollak deserves to be seen by Coinbase as the "onchain savior," and Base arguably kicked off the wave of enterprises building their own chains
Odaily News: In response to the discussion about "why Coinbase would consider Jesse Pollak its onchain savior," Cobie said that although he does not agree with all of Jesse Pollak's views, he believes this assessment is well deserved.Cobie pointed out that Jesse Pollak drove Base's launch from scratch, and argued that Base arguably pioneered the trend of enterprises building their own chains that later followed from companies such as Stripe and Robinhood. Base's development predated the 2023 Solana meme coin wave, and Jesse Pollak kept pushing the project forward through the bear market after the FTX collapse until it launched.Cobie also said that Jesse Pollak has indeed made some mistakes over the past year, but what deserves respect is that even after facing long-term criticism from Crypto Twitter, he still keeps showing up and putting in the work every day.
FTX-related Netflix series "The Altruists" to premiere on November 19
Odaily News: Netflix has announced that "The Altruists," a series inspired by the rise and fall of FTX founder SBF and former Alameda Research CEO Caroline Ellison, will premiere on November 19, with the first stills released.The series consists of 8 episodes, with Anthony Boyle portraying SBF and Julia Garner playing Caroline Ellison. The plot follows two young idealists who attempt to rapidly reshape the global financial system, only to be accused of stealing $8 billion and ultimately fall from the pinnacle of financial power.The series is created by Graham Moore, inspired by articles from New York Magazine journalists Kevin T. Dugan and Jen Wieczner. Barack Obama and Michelle Obama serve as executive producers of the series. (Variety.com)
Bullish executive urges passage of the CLARITY Act: The FTX incident proves the crypto market needs a legal regulatory framework
According to Odaily, Randi Abernethy, Head of Clearing and Group Risk at Bullish, stated that the U.S. Senate's failure to pass the Digital Asset Market Clarity Act (CLARITY Act) does not mean the digital asset market will stop developing; rather, it highlights the necessity of establishing a federal regulatory framework.Abernethy noted that during the Senate's consideration of the CLARITY Act, traditional U.S. financial institutions have continued to accelerate their entry into the on-chain market. JPMorgan Chase has explored tokenized ETF holdings through a production pilot with the Depository Trust & Clearing Corporation (DTCC), and more than 50 institutions (including BlackRock and Goldman Sachs) are also participating in the development of tokenized stock and Treasury bond infrastructure. The current regulatory discussion is no longer just a "crypto industry issue," but one that concerns the future infrastructure of the entire financial system.Abernethy cited the 2008 financial crisis as an example, noting that financial risk spreads along shared infrastructure, and even institutions not directly involved in related assets can be affected. Today, the stablecoin market size has exceeded $100 billion, with a large portion of stablecoin reserves invested in U.S. Treasuries. If a major stablecoin were to face a crisis, it could impact liquidity in traditional financial markets. She stated that supporters of the CLARITY Act believe the bill could establish a unified regulatory framework for the digital asset market, including core investor protection mechanisms such as customer asset segregation, conflict of interest management, capital requirements, and information disclosure. (CoinDesk)
WonderFi Founder Criticizes Canada's Innovation Environment: Struggling to Grow, Forced into Sale to Robinhood
Odaily News - Karia Samaroo, founder and former CEO of Canadian crypto company WonderFi, recently stated that the company's acquisition by US trading platform Robinhood Markets for CAD 250 million was not due to a lack of growth potential, but rather because Canada's market environment has restricted local tech companies from continuing to scale.Samaroo said that WonderFi was founded in 2021. After several years of development, the company consolidated Canada's fragmented crypto market, built a nationwide brand, and survived the QuadrigaCX collapse, the FTX crash, and Canada's strict crypto regulatory environment. By 2023, WonderFi had become a leading crypto platform in the Canadian market.However, he believes that succeeding in Canada was not the company's ultimate goal. WonderFi had originally hoped to grow into a global enterprise, and Robinhood saw WonderFi as a strategic gateway into the Canadian market, which led to the CAD 250 million acquisition. Samaroo pointed out that Canada has long faced structural issues that limit companies' ability to scale, including insufficient venture capital, weak public markets, regulatory fragmentation, and declining attractiveness of entrepreneurial returns.For the crypto industry, the challenges are even more pronounced. Samaroo noted that after the QuadrigaCX incident, Canadian regulators established one of the world's strictest crypto regulatory frameworks. While the original intent was to protect investors, it also increased operational costs for businesses. International trading platforms including Binance, OKX, Bybit, and Gemini all entered the Canadian market previously and then exited. He believes that Canada's crypto regulations are not only strict but also compounded by fragmented securities regulatory systems, leading to higher financing costs, increased operational complexity, and diminished interest from overseas investors.Samaroo said that WonderFi is not an isolated case—many Canadian tech companies have followed a similar trajectory: growing domestically until hitting market ceilings, then ultimately seeking overseas capital or strategic buyers. Shopify founder Tobi Lütke has also previously criticized Canada for repeatedly "nurturing important companies only to send them abroad." Restricting corporate sales can easily become a political statement, but the real key to solving the problem lies in building a business environment that supports companies in financing, expansion, and competing globally.Robinhood previously announced the acquisition of WonderFi for approximately CAD 250 million. This deal also reflects the accelerating consolidation in the North American crypto industry, as US platforms expand into other markets through M&A. (Fortune)
U.S. Appeals Court Upholds SBF's Conviction, 25-Year Sentence, and $11 Billion Forfeiture Order
Odaily News: The U.S. Court of Appeals for the Second Circuit has issued a formal order upholding the conviction and sentencing of former FTX CEO Sam "SBF" Bankman-Fried. The lower court previously found him guilty on seven felony counts and sentenced him to 25 years in federal prison. The three-judge panel rejected Bankman-Fried's appeal arguments that FTX had sufficient liquidity and that investors would be fully repaid without incurring losses, and upheld the $11 billion forfeiture order issued by the New York court in the criminal case. Circuit Judge Barrington D. Parker stated in the opinion that even if Bankman-Fried believed he would ultimately repay customers, it does not affect the applicability of wire fraud laws to the temporary misappropriation of funds or property. With the order now in effect, his legal avenues for seeking early release have narrowed, including options such as applying for a presidential pardon or appealing to the Supreme Court.
美上诉法院维持 SBF 定罪及 25 年刑期
美国第二巡回上诉法院正式发布指令，维持对前 FTX 首席执行官 Sam Bankman-Fried 的七项重罪定罪及 25 年刑期判决，并驳回其关于投资者可获全额赔偿的上诉主张。
Related news
a16z Pressures U.S. Senate: If the CLARITY Act Fails to Pass, the Next FTX-Style Collapse Could Be Worse
Odaily News: Miles Jennings, Head of Policy and Regulation at a16zcrypto, wrote that the U.S. Senate should push for the passage of the Digital Asset Market CLARITY Act. Jennings stated that the risks exposed by the FTX collapse—such as customer asset segregation, custody, and information disclosure—are not complex, yet the existing digital asset market still lacks regulatory safeguards similar to those in traditional financial markets. The CLARITY Act would require digital asset brokers, dealers, and exchanges to implement measures such as customer asset segregation, qualified custody, information disclosure, and insider trading restrictions, while also clarifying the regulatory boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).Miles Jennings warned that with stablecoin supply now exceeding $300 billion and the market value of tokenized assets surpassing $30 billion, if the Senate fails to act this time, the impact of the next market collapse could be greater than that of the FTX incident.
Alameda Research/FTX Unstakes and Transfers Approximately $20.62 Million in SOL
According to monitoring by Onchain Lens, Alameda Research/FTX-related addresses have unstaked and transferred 202,710 SOL worth approximately $20.62 million, with the corresponding tokens transferred to their bankruptcy asset staking wallet.
Caroline Ellison, former girlfriend of SBF, has joined the non-profit organization Manifund, where she will be responsible for developing a funding platform and participating in charitable projects.
According to The Block, Caroline Ellison, former girlfriend of FTX founder SBF and ex-CEO of Alameda Research, has joined the nonprofit Manifund to develop its funding platform and participate in charitable projects. Ellison began participating under the alias “Carol” in July and officially transitioned to a full-time role in August. Ellison was once SBF’s core business partner and had a romantic relationship with him. Following the collapse of FTX, she pleaded guilty to charges including fraud and conspiracy, and served as a key witness for the prosecution, testifying against SBF. Ellison began serving her sentence in November 2024 and was granted early release in January 2026. Manifund primarily funds projects related to AI safety and effective altruism.
Cobie: Jesse Pollak deserves to be seen by Coinbase as the "onchain savior," and Base arguably kicked off the wave of enterprises building their own chains
Odaily News: In response to the discussion about "why Coinbase would consider Jesse Pollak its onchain savior," Cobie said that although he does not agree with all of Jesse Pollak's views, he believes this assessment is well deserved.Cobie pointed out that Jesse Pollak drove Base's launch from scratch, and argued that Base arguably pioneered the trend of enterprises building their own chains that later followed from companies such as Stripe and Robinhood. Base's development predated the 2023 Solana meme coin wave, and Jesse Pollak kept pushing the project forward through the bear market after the FTX collapse until it launched.Cobie also said that Jesse Pollak has indeed made some mistakes over the past year, but what deserves respect is that even after facing long-term criticism from Crypto Twitter, he still keeps showing up and putting in the work every day.
FTX Founder SBF Loses Appeal, Awaits Final Ruling on Pardon
After his second appeal was dismissed, FTX founder Sam Bankman-Fried has withdrawn his motion for a new trial and submitted a clemency application. The final step of the legal proceedings now is awaiting the pardon decision and prison placement arrangements.
SBF petitions U.S. Supreme Court to overturn fraud conviction
According to Cointelegraph, FTX founder Sam Bankman-Fried has formally filed a petition with the U.S. Supreme Court, seeking to overturn his 2023 fraud conviction and 25-year prison sentence.