Advertise      Submit a Press Release
Advertisement
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Market
  • Regulations
  • Learn
  • Press Releases
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Market
  • Regulations
  • Learn
  • Press Releases
No Result
View All Result
No Result
View All Result
Home Market

FTX Saga Continues With An Advisor’s Emails To Voyager’s Restructuring Counsel

Muhammad Ali by Muhammad Ali
February 4, 2023
in Market
56 3
0
FTX
192
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

A recent discovery made people wonder if the current FTX advisers knew about emails sent between Voyager’s lawyer for restructuring and the current FTX advisers.

FTX Advisor And Voyager’s Lawyer’s Emails Were Released

The Voyager Creditors Committee reported communications from the partner representing FTX at Sullivan & Cromwell (S&C). These emails were submitted as evidence as part of the ongoing argument regarding FTX’s proof of claim in Voyager.

Related articles

Best Passive Earning Platform Via Yield Farming

Best Passive Earning Platform Via Yield Farming

March 4, 2023
Cryptoqueen

‘Cryptoqueen’ Boyfriend Gets Five Years in Onecoin Scam

February 20, 2023

Voyager chose Darren Azman, an attorney specializing in business restructuring, last year, and S&C partner Andrew G. Dietderich communicated with him via email. The emails submitted as proof all took place on November 7th and 8th, two days before news of FTX’s liquidity issues broke. After a few weeks, the exchange sought and was granted Chapter 11 bankruptcy protection.

Andrew G. seems to have convinced Darren Azman through a series of tweets that the rumors about FTX were false and likely made up by the Binance exchange to spread fear, uncertainty, and doubt (FUD).

S&C, via Andrew, falsely claimed in the study that the now-defunct exchange was extremely reliable just days before it collapsed. CEO and S & C client John Ray first testified that FTX had “an complete lack of record-keeping” and “no internal controls whatsoever.”

Darren Azman wrote Andrew on November 7 to discuss customer complaints about FTX and Alameda Research’s lack of liquidity. Darren also invited the law firm to join them and field questions on FTX. On the other hand, Andrew. chimed in, adding, “FTX doesn’t use customers’ funds or assume credit risks at all.” Another point made by the partner was that the defunct exchange could not have liquidity problems because it does not make loans.

Darren Azman expressed his continued worries in an email the following day. He questioned Andrew on whether or not the FTX pullout halt rumours were accurate. Although Andrew acknowledged that this was the first time he had heard the stories, he was sceptical. However, he dismissed the talk as “Binance Nonsense.”

The Legal Community Lacked FTX Expertise

Recent evidence suggests that the attorneys were woefully uninformed about FTX’s operations.

These are two E-Mails by Sullivan & Cromwell partner Andrew Dietderich, who is now advising FTX in the bankruptcy.

Question: If a highly successful $2165/h restructuring lawyer was fooled by a 30yo jittery gambling/drug addict to spout his BS, what does that say about him? pic.twitter.com/ifjG6HPZiV

— FTX Creditor (@AFTXcreditor) February 3, 2023

For example, the attorneys were unaware that FTX acted as a loan facilitator. A counterargument suggests the advisors may have been in on the scam all along and were just trying to keep their secrets to themselves. Either way, it seemed as though they had given a skewed version of events to a person who was potentially affected.

FTX bankruptcy saga just keeps getting stranger.

Emails from the lead Sullivan & Cromwell partner now representing FTX are cited by the Voyager Creditors Committee as evidence in a dispute over proofs of claim in Voyager.

These S&C conflicts keep surfacing.

Not normal. https://t.co/ykkdymIros

— MetaLawMan (@MetaLawMan) February 3, 2023

Share this:

  • Twitter
  • Facebook
  • Telegram
  • LinkedIn
  • Reddit
  • WhatsApp
  • Skype
  • Tumblr
  • Pinterest
Tags: cryptoFTXFTX USSullivan & Cromwell
Share77Tweet48

Related Posts

Best Passive Earning Platform Via Yield Farming

Best Passive Earning Platform Via Yield Farming

by Muhammad Ali
March 4, 2023
0

Creating wealth without effort has long been many people's ultimate financial dream. Yield farming is a relatively new idea in...

Cryptoqueen

‘Cryptoqueen’ Boyfriend Gets Five Years in Onecoin Scam

by Muhammad Ali
February 20, 2023
0

Gilbert Armenta, the former boyfriend of wanted criminal Ruja Ignatovia, received a five-year prison term for stealing over 300 million dollars worth of investments from the investors of the fake OneCoin investors' funds. Gilbert was charged with taking an active role in a conspiracy that defrauded the client's tens of millions in the one coin project where he held a significant position in the defrauding company. The 59- year- old Gilbert was found guilty in 2018 of intent to engage in extortion and money laundering. Who is Cryptoqueen? Ruja Iganatovia OneCoin founder. OneCoin was introduced in early 2014 by Ruja Ignatovia, a citizen of Bulgaria. The venture was a four-billion-dollar high-rise marketing business. According to its supporters, the one coin was the revolution waiting for the financial sector. Additionally, the coin creators said that gold reserves supported the coin and also the blockchain; the creator also said that one coin would become superior to Bitcoin. (BTC) OneCoin’s supporters claimed that the number of coins in circulation was one- hundred and twenty billion and that the coin would be among the most valued cryptocurrencies worldwide. However, all this turned out to be a pyramid scheme since the blockchain, or real cryptocurrency, did not back it up. OneCoin embezzled nearly four billion dollars from millions of investors between its conception and its discovery as a Ponzi scheme in 2016.  Among the ways the investors were scammed was through educational courses for trading cryptocurrencies, for which they had to pay between € 100 and 118000 Of this fraud, several investors lost their life savings with the development of Onecoin's case, which has been named one of the biggest and most complex fraud cases in history. Gilbert’s imprisonment has relieved the victims of the fraud, who haven't received reimbursement of their money. This is a step closer to the justice they hope to receive. As of the time of writing,...

Crypto

United States Treasury Bans Sanctions-Evading Crypto Addresses

by Muhammad Ali
February 1, 2023
0

The Office of Foreign Assets Control (OFAC) of the United States Treasury has blocked some cryptocurrency addresses as part of...

Binance

Lithuania’s Payment Provider Crackdown Affected Binance and Crypto.com

by Muhammad Ali
January 31, 2023
0

There is uncertainty in some crypto networks due to the recent publishing of a comprehensive list of payment service providers...

NFT

NFL Star Marshawn Lynch Is Considering A Switch To NFTs

by Muhammad Ali
January 25, 2023
0

Marshawn Lynch, a former NFL star, has submitted an application to trademark "BEASTMODE" for use in connection with NFTs and...

Load More

Recent Posts

  • BTC Price Hikes Above $26,000 Once Again
  • Cryptocurrency Regulation: Navigating The Legal Landscape
  • Crypto Trading Tips and Tricks: Maximizing Profits and Minimizing Risks
  • 7 Advantages of Cryptocurrencies: Why They’re More Than Just Digital Money
  • Best Passive Earning Platform Via Yield Farming

Recent Comments

  1. Third SBF Associate To Work With Prosecutors Will Be Nishad Singh | Coin Regency on FTX founder reportedly cashes out $690K after being released on bail

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022

Categories

  • Bitcoin
  • Blockchain
  • Ethereum
  • Learn
  • Market
  • Press Releases
  • Regulations
Coin Regency

© 2022 | All rights reserved.

Navigate Site

  • About Us
  • Advertise
  • Submit a Press Release
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Market
  • Regulations
  • Learn
  • Press Releases

© 2022 | All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$25,511.00-6.26%
  • ethereumEthereum(ETH)$1,802.96-5.32%
  • USDEXUSDEX(USDEX)$1.080.90%
  • tetherTether(USDT)$1.000.12%
  • binancecoinBNB(BNB)$275.67-9.89%
  • usd-coinUSD Coin(USDC)$1.000.05%
  • rippleXRP(XRP)$0.50-6.72%
  • staked-etherLido Staked Ether(STETH)$1,803.19-5.26%
  • cardanoCardano(ADA)$0.349897-8.28%
  • dogecoinDogecoin(DOGE)$0.066635-8.58%
  • solanaSolana(SOL)$19.86-10.62%
  • matic-networkPolygon(MATIC)$0.83-7.78%
  • tronTRON(TRX)$0.078384-4.26%
  • litecoinLitecoin(LTC)$86.97-9.10%
  • polkadotPolkadot(DOT)$5.04-5.84%
  • binance-usdBinance USD(BUSD)$1.00-0.14%
  • avalanche-2Avalanche(AVAX)$13.84-6.77%
  • shiba-inuShiba Inu(SHIB)$0.000008-9.02%
  • daiDai(DAI)$1.000.02%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$25,571.00-6.11%
  • uniswapUniswap(UNI)$4.71-6.69%
  • leo-tokenLEO Token(LEO)$3.52-2.49%
  • chainlinkChainlink(LINK)$6.05-7.22%
  • cosmosCosmos Hub(ATOM)$9.94-7.77%
  • okbOKB(OKB)$43.78-4.62%
  • moneroMonero(XMR)$141.17-5.20%
  • ToncoinToncoin(TON)$1.65-5.15%
  • ethereum-classicEthereum Classic(ETC)$16.87-8.16%
  • stellarStellar(XLM)$0.088320-4.16%
  • bitcoin-cashBitcoin Cash(BCH)$108.28-7.09%
  • true-usdTrueUSD(TUSD)$1.00-0.05%
  • internet-computerInternet Computer(ICP)$4.28-11.35%
  • lido-daoLido DAO(LDO)$2.10-8.67%
  • filecoinFilecoin(FIL)$4.19-11.06%
  • quant-networkQuant(QNT)$112.02-4.11%
  • AptosAptos(APT)$8.01-14.46%
  • crypto-com-chainCronos(CRO)$0.058586-5.02%
  • hedera-hashgraphHedera(HBAR)$0.048078-5.87%
  • GGTKNGGTKN(GGTKN)$0.1122930.86%
  • ArbitrumArbitrum(ARB)$1.12-7.92%
  • nearNEAR Protocol(NEAR)$1.49-10.06%
  • vechainVeChain(VET)$0.018566-7.22%
  • apecoinApeCoin(APE)$2.89-8.70%
  • the-graphThe Graph(GRT)$0.113381-10.58%
  • paxos-standardPax Dollar(USDP)$1.00-0.15%
  • fraxFrax(FRAX)$1.00-0.05%
  • algorandAlgorand(ALGO)$0.138184-10.13%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • the-sandboxThe Sandbox(SAND)$0.52-13.11%
  • eosEOS(EOS)$0.83-9.68%