SBF account claims FTX has never gone bankrupt: Lawyer filed a false bankruptcy claim after takeover for profit

SBF Denies FTX Bankruptcy in Prison, Reveals Truth, and $8 Billion Funding Gap Sparks New Crypto Controversy

On February 10th, Sam Bankman-Fried, who has been sentenced to 25 years in prison on multiple charges of fraud and conspiracy, spoke out again through his verified X account, claiming "FTX has never gone bankrupt," and accused the company's lawyers of submitting a "false bankruptcy petition." This statement starkly contrasts with the U.S. court rulings, regulatory documents, and financial audit results, and has quickly attracted attention within the crypto community. According to judicial records, SBF was involved in embezzling over $8 billion of customer assets, leading the platform to become insolvent by the end of 2022. The massive losses of his affiliated trading firm Alameda Research were the direct cause of the collapse. Although subsequent asset recoveries and market rebounds have improved creditor expectations in some cases, prosecutors and judges both emphasized that this does not change the established facts of fraud.

Six Arrested in France Over Crypto-Linked Kidnapping

French police arrested six suspects linked to the kidnapping of a magistrate and her mother, who escaped without paying a ransom. The incident highlights a rising trend of crypto-related crimes in France, prompting law enforcement action.

Xinbi is still operating after the crackdown, with a trading volume of $17.9 billion.

Xinbi, a Chinese online escrow marketplace, continues to thrive despite law enforcement efforts, demonstrating resilience in informal financial networks. With a transaction volume of approximately $17.9 billion, it has effectively adapted by shifting operations to less monitored platforms and launching XinbiPay for payment solutions. This adaptability complicates regulatory oversight of financial risks and fraud. The platform's ability to persist highlights the challenges regulators face in controlling unregulated financial activities. As Xinbi expands its reach, authorities find it increasingly difficult to track and prevent illicit transactions, which may include money laundering and other illegal activities. The ongoing growth of Xinbi underscores the need for enhanced monitoring and international cooperation to address the evolving landscape of online escrow markets.

Assisting Turkey in freezing $1 billion in assets, Tether's compliance approach has changed. The new measures aim to support Turkey's efforts to combat financial crimes and enforce sanctions. Tether is now implementing stricter verification processes and collaborating more closely with regulatory authorities to ensure compliance with international standards. This shift reflects a broader move within the industry to enhance transparency and accountability in digital asset management.

Turkish authorities have frozen assets worth over $500 million belonging to Veysel Sahin due to suspected involvement in illegal gambling operations and money laundering. The cryptocurrency company involved in the freezing operation is Tether Holdings. Tether actively assists in global efforts to combat crypto-related crime, having frozen $3.4 billion worth of USDT linked to illegal activities in recent years, demonstrating a strong partnership with law enforcement agencies.

Burglary in the premises worth 66 million! Two high school students drove 600 miles to kidnap a cryptocurrency holder

Two teenagers aged 16 and 17 from California drove 600 miles to Arizona, disguised as delivery personnel to commit a violent home invasion robbery targeting $66 million worth of cryptocurrency. After the police arrest, they confiscated restraints and 3D-printed firearms. The investigation revealed that a mysterious individual planned the crime via Signal and provided $1,000 in funding.

Former CFTC Chair: XRP Has Become a Symbol of U.S. Regulatory Suppression but Remains Resilient

Former CFTC Chairman Chris Giancarlo described XRP as a typical example of Washington regulatory suppression, but it has survived and remains standing. He emphasized the importance of regulatory clarity and warned that traditional American banks may fall behind. Ripple has received approval under Europe's MiCA regulation, allowing banks to hold and use it under regulation. Despite the advantages in Europe, the United States remains cautious due to uncertainty.