Bahamas-based Deltec Bank is under scrutiny for allegedly providing 'secret' credit to Sam Bankman-Fried (SBF) for the purchase of Tether, as reported by Bloomberg journalist Zeke Faux. This accusation comes amidst a broader legal drama involving the now-bankrupt FTX exchange, where investors have launched lawsuits against Sullivan & Cromwell (S&C), accusing the firm of aiding and abetting fraudulent activities that led to the exchange's downfall. FTX's legal issues extend to a new lawsuit alleging the firm secretly created and sold Tether stablecoins as part of a profit-making scam. Additionally, the Swiss crypto hedge fund Tyr Capital is facing legal challenges over its dealings with FTX, including accusations of criminal mismanagement and ignoring risk warnings, further complicating the scandal surrounding the crypto exchange.
Raided by a Swiss prosecutor, Tyr Capital Partners is facing accusations of criminal mismanagement due to its ties to FTX https://t.co/nueHtv1T33
Crypto hedge fund Tyr faces allegations of ignoring FTX risk warnings: FT https://t.co/PIUpkocSCn
Swiss crypto hedge fund Tyr Capital is battling its client, TGT, over its dealings with bankrupt crypto exchange FTX, according to a report. By @parikshitm899. https://t.co/BMLx0fNt8D
S&C Under Fire: FTX’s Bankruptcy Legal Counsel Faces Lawsuit The now-bankrupt exchange’s investors have filed lawsuits against S&C, accusing the law firm of aiding and abetting fraudulent activities that contributed to the exchange’s collapse. https://t.co/7wPP6P28AV
Don't worry guys, Tether fraudsters are working on a new market manipulation/damage control plan as we speak! Not to worry, billions of Tether fraud bucks are on their way to the rescue and calm everyone down from the FUD!
FTX's legal drama continues with a new lawsuit, alleging how the firm secretly created and sold Tether stablecoins as part of a profit-making scam https://t.co/nNuDO83aBL
FTX Investors Claim Sullivan & Cromwell 'Aided' and Encouraged Fraud https://t.co/JyMsDiIMi6
Bahamas Bank Deltec Accused of Giving SBF ‘Secret’ Credit to Buy Tether - Bloomberg https://t.co/rPTQnRAGc6
Bahamas Bank Deltec Accused of Giving Bankman-Fried ‘Secret’ Credit to Buy Tether https://t.co/cwzcYdX8ev
Bahamas Bank Deltec Accused of Giving SBF ‘Secret’ Credit to Buy Tether - Bloomberg at least @ZekeFaux is still grinding.. Better than that lame ass @business Crypto Team in London. https://t.co/kA4bpbU0op