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FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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By subscribing, you agree with our privacy and terms.

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\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Besides, the summons,\u00a0filed<\/a>\u00a0before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.<\/p>\n\n\n\n

Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

SBF And His Former Executives To Submit Relevant Documents Before February 20th<\/h2>\n\n\n\n

Besides, the summons,\u00a0filed<\/a>\u00a0before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.<\/p>\n\n\n\n

Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/strong><\/em> FTX Orders Beneficiaries of Its Political Donations to Return Money \u2013 Estimated at $93 million<\/a><\/p>\n\n\n\n

SBF And His Former Executives To Submit Relevant Documents Before February 20th<\/h2>\n\n\n\n

Besides, the summons,\u00a0filed<\/a>\u00a0before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.<\/p>\n\n\n\n

Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In light of the same, the individuals mentioned above must appear for a remote disposition on February 23, according to a court filing. The same creditors reportedly served similar summons to Bankman-Fried, Ellison, Wang, and FTX\u2019s head of product Ramnic Arora on February 6.<\/p>\n\n\n\n

See Related:<\/strong><\/em> FTX Orders Beneficiaries of Its Political Donations to Return Money \u2013 Estimated at $93 million<\/a><\/p>\n\n\n\n

SBF And His Former Executives To Submit Relevant Documents Before February 20th<\/h2>\n\n\n\n

Besides, the summons,\u00a0filed<\/a>\u00a0before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.<\/p>\n\n\n\n

Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In July last year, FTX\u00a0offered<\/a>\u00a0\u2018\u2018an early liquidity\u2019\u2019 <\/em>to the customers of Voyager Digital. The plan was declined by the firm, terming it as a \u2018\u2018low-ball bid dressed up as a white knight rescue.\u2019\u2019<\/em> Binance later acquired the now-bankrupt firm. <\/p>\n\n\n\n

In light of the same, the individuals mentioned above must appear for a remote disposition on February 23, according to a court filing. The same creditors reportedly served similar summons to Bankman-Fried, Ellison, Wang, and FTX\u2019s head of product Ramnic Arora on February 6.<\/p>\n\n\n\n

See Related:<\/strong><\/em> FTX Orders Beneficiaries of Its Political Donations to Return Money \u2013 Estimated at $93 million<\/a><\/p>\n\n\n\n

SBF And His Former Executives To Submit Relevant Documents Before February 20th<\/h2>\n\n\n\n

Besides, the summons,\u00a0filed<\/a>\u00a0before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.<\/p>\n\n\n\n

Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A team representing the unsecured creditors of Voyager Digital, the bankrupt crypto lender, have asked the former FTX executives \u2013 Sam Bankman-Fried, Samuel Tarbucco, Nishad Singh, Gary Wang, and Caroline Ellison \u2013 to appear before a bankruptcy court this week on questions around the attempted acquisition of the failed crypto lender.<\/p>\n\n\n\n

In July last year, FTX\u00a0offered<\/a>\u00a0\u2018\u2018an early liquidity\u2019\u2019 <\/em>to the customers of Voyager Digital. The plan was declined by the firm, terming it as a \u2018\u2018low-ball bid dressed up as a white knight rescue.\u2019\u2019<\/em> Binance later acquired the now-bankrupt firm. <\/p>\n\n\n\n

In light of the same, the individuals mentioned above must appear for a remote disposition on February 23, according to a court filing. The same creditors reportedly served similar summons to Bankman-Fried, Ellison, Wang, and FTX\u2019s head of product Ramnic Arora on February 6.<\/p>\n\n\n\n

See Related:<\/strong><\/em> FTX Orders Beneficiaries of Its Political Donations to Return Money \u2013 Estimated at $93 million<\/a><\/p>\n\n\n\n

SBF And His Former Executives To Submit Relevant Documents Before February 20th<\/h2>\n\n\n\n

Besides, the summons,\u00a0filed<\/a>\u00a0before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.<\/p>\n\n\n\n

Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

\u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

Enter Miami-Dade Arena<\/h2>\n\n\n\n

Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

\u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
  • The proposal failed, and Binance later got the approval to acquire the crypto lender.<\/li>\n<\/ul>\n\n\n\n

    A team representing the unsecured creditors of Voyager Digital, the bankrupt crypto lender, have asked the former FTX executives \u2013 Sam Bankman-Fried, Samuel Tarbucco, Nishad Singh, Gary Wang, and Caroline Ellison \u2013 to appear before a bankruptcy court this week on questions around the attempted acquisition of the failed crypto lender.<\/p>\n\n\n\n

    In July last year, FTX\u00a0offered<\/a>\u00a0\u2018\u2018an early liquidity\u2019\u2019 <\/em>to the customers of Voyager Digital. The plan was declined by the firm, terming it as a \u2018\u2018low-ball bid dressed up as a white knight rescue.\u2019\u2019<\/em> Binance later acquired the now-bankrupt firm. <\/p>\n\n\n\n

    In light of the same, the individuals mentioned above must appear for a remote disposition on February 23, according to a court filing. The same creditors reportedly served similar summons to Bankman-Fried, Ellison, Wang, and FTX\u2019s head of product Ramnic Arora on February 6.<\/p>\n\n\n\n

    See Related:<\/strong><\/em> FTX Orders Beneficiaries of Its Political Donations to Return Money \u2013 Estimated at $93 million<\/a><\/p>\n\n\n\n

    SBF And His Former Executives To Submit Relevant Documents Before February 20th<\/h2>\n\n\n\n

    Besides, the summons,\u00a0filed<\/a>\u00a0before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.<\/p>\n\n\n\n

    Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

    The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

    Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

    \u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

    The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

    For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

    FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

    See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

    A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

    See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

    Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

    Enter Miami-Dade Arena<\/h2>\n\n\n\n

    Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

    \u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

    See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

    FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

    FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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  • Before the collapse of FTX, the crypto exchange had proposed to acquire the assets of Voyager Digital.<\/li>\n\n\n\n
  • The proposal failed, and Binance later got the approval to acquire the crypto lender.<\/li>\n<\/ul>\n\n\n\n

    A team representing the unsecured creditors of Voyager Digital, the bankrupt crypto lender, have asked the former FTX executives \u2013 Sam Bankman-Fried, Samuel Tarbucco, Nishad Singh, Gary Wang, and Caroline Ellison \u2013 to appear before a bankruptcy court this week on questions around the attempted acquisition of the failed crypto lender.<\/p>\n\n\n\n

    In July last year, FTX\u00a0offered<\/a>\u00a0\u2018\u2018an early liquidity\u2019\u2019 <\/em>to the customers of Voyager Digital. The plan was declined by the firm, terming it as a \u2018\u2018low-ball bid dressed up as a white knight rescue.\u2019\u2019<\/em> Binance later acquired the now-bankrupt firm. <\/p>\n\n\n\n

    In light of the same, the individuals mentioned above must appear for a remote disposition on February 23, according to a court filing. The same creditors reportedly served similar summons to Bankman-Fried, Ellison, Wang, and FTX\u2019s head of product Ramnic Arora on February 6.<\/p>\n\n\n\n

    See Related:<\/strong><\/em> FTX Orders Beneficiaries of Its Political Donations to Return Money \u2013 Estimated at $93 million<\/a><\/p>\n\n\n\n

    SBF And His Former Executives To Submit Relevant Documents Before February 20th<\/h2>\n\n\n\n

    Besides, the summons,\u00a0filed<\/a>\u00a0before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.<\/p>\n\n\n\n

    Noteworthy, Alameda Research, FTX\u2019s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager \u2013 the amount it seeks to recover \u2013 on grounds that the payment was close to FTX\u2019s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried\u2019s bail could be revoked for witness tampering.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX<\/a><\/p>\n","post_title":"FTX\u2019s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-former-executives-subpoenaed-by-voyager-creditors-to-explain-failed-bailout-attempts","to_ping":"","pinged":"","post_modified":"2023-02-21 12:53:19","post_modified_gmt":"2023-02-21 01:53:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9493,"post_author":"13","post_date":"2023-01-20 19:11:59","post_date_gmt":"2023-01-20 08:11:59","post_content":"\n

    The US Securities and Exchange Commission (SEC) announced<\/a> Thursday that it had filed a complaint against FTX\u2019s former CEO Sam Bankman-Fried \u2018SBF\u2019 for defrauding equity investors of up to $1.8 billion, and estimated $1.1 billion from about 90 US-based investors, all raised in the period before May 2019.<\/p>\n\n\n\n

    Notably, according to the regulator, SBF acted contrary to Section 17 of the Securities Act of 1933, Section 10 (b) of the Securities Act of 1934, and Rule 10b-5 thereunder. According to the report, SBF concealed the whereabouts of investors\u2019 funds, and the funds were put in risky assets without their consent.<\/p>\n\n\n\n

    \u2018\u2018In his representations to investors, (SBF) promoted FTX as a safe, responsible crypto asset trading platform, specifically marketing it\u2019s sophisticated, automated risk measures to protect customer assets. In reality, (he) concealed the undisclosed diversion of FTX customers\u2019 funds to Alameda Research LLC, the undisclosed special treatment afforded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited line of credit, and the undisclosed risks from holding overvalued, illiquid assets (FTT).<\/em>\u2019\u2019 The statement read.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX<\/a><\/p>\n\n\n\n

    The US Regulator Is Demanding Restrictions Against the Disgraced Entrepreneur<\/h2>\n\n\n\n

    For this reason, the agency demands that SBF be barred from issuing, purchasing, or offering any security besides his account for sale. Further SEC wants all the ill-gotten profits to be reclaimed from the disgraced executive, including a civil penalty prohibiting him from occupying any office in the capacity of a director.\u00a0\u00a0<\/p>\n\n\n\n

    FTX investors got a ray of hope after the new CEO John Ray said there was a possibility of reviving the collapsed exchange. His statement was quickly criticized by SBF, who is currently out on a $250 million recognizance bond secured by his parent's property.<\/p>\n\n\n\n

    See Related:<\/em><\/strong> Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/TheDistributed_\/status\/1616138722835333120\n<\/div><\/figure>\n","post_title":"SEC Charges Sam Bankman-Fried for \u2018Orchestrating Year-Long Fraud\u2019 Against Equity Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sec-charges-sam-bankman-fried-for-orchestrating-year-long-fraud-against-equity-investors","to_ping":"","pinged":"","post_modified":"2023-01-21 17:35:05","post_modified_gmt":"2023-01-21 06:35:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9493","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9372,"post_author":"13","post_date":"2023-01-14 17:45:33","post_date_gmt":"2023-01-14 06:45:33","post_content":"\n

    A US federal court has agreed to a request by Miami-Dade County and FTX to end a naming rights deal worth $135 million for the exchange at the sporting venue of the NBA basketball team - Miami Heat. According to the ruling<\/a>, FTX Arena would no longer be referred to as such, and all the branding containing the logos of the bankrupt exchange would be removed.<\/p>\n\n\n\n

    See Related:<\/strong><\/em> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n

    Judge John Dorsey wrote on January 11 that the naming rights shall be effected \u2018\u2018immediately upon the entry of (the) order.<\/em>\u2019\u2019 That means the FTX branding would have to be removed from, among other places, the entrance of the sporting venue, on the polo shirts worn by the officials, and on the electronic cards for accessing the venue, which according to experts, would be a big undertaking.<\/p>\n\n\n\n

    Enter Miami-Dade Arena<\/h2>\n\n\n\n

    Miami Heat posted<\/a> on Twitter on January 14 that the new name for the former FTX Arena would change to Miami \u2013 Dade Arena until a new partner comes on board.<\/p>\n\n\n\n

    \u2018\u2018Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena. The removal of the facility\u2019s existing signage and the changeover of branding elements will be ongoing in the coming weeks.<\/em>\u2019\u2019<\/p>\n\n\n\n

    See Related:<\/em><\/strong> CryptoCom Arena: Reported $700m Deal Sealed For Clippers Arena<\/a><\/p>\n\n\n\n

    FTX and Miami \u2013 Dade Country \u2013 which owns the arena \u2013 agreed, effective June 2021, to extend the naming rights to the exchange for 19 years, where FTX would pay $2 million annually. The last payment was supposed to be $5.5 million on January 1 before the business went under. <\/p>\n\n\n\n

    FTX filed for bankruptcy<\/a> in November last year, collapsing with an estimated $10 billion worth of investors' funds. Its founder Sam Bankman-Fried was later arrested<\/a> and extradited to the US to face criminal charges relating to money laundering and financial fraud.<\/p>\n","post_title":"NBA\u2019s Miami Heat Ends $135M Deal With FTX Following Court Orders, Welcome Miami-Dade Arena","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"nbas-miami-heat-ends-135m-deal-with-ftx-following-court-orders-welcome-miami-dade-arena","to_ping":"","pinged":"","post_modified":"2023-01-15 02:59:30","post_modified_gmt":"2023-01-14 15:59:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9372","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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