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The Chinese government is scrutinizing PricewaterhouseCoopers (PwC), the audit firm implicated in a significant fraud case with the Evergrande Group, involving around $78 billion. Chinese officials have reached out to PwC accountants who audited the construction giant, seeking more insights. 
A handful of bold investors are seeking to acquire preferred shares of the defunct crypto exchange FTX, drawn by the rising value of assets held for compensation despite almost nonexistent prospects for payouts. Preferred creditors rank at the very bottom of the payout hierarchy in bankruptcy proceedings. 
LedgerPrime, previously a hedge fund within the collapsed crypto exchange FTX, has made a comeback under the new banner of MNNC Group, now officially registered in the Cayman Islands. Shiliang Tan, a principal partner, announced that not only has the group reclaimed most of its investor base, but it has also attracted a hefty investment sum in the process. 
Behind FTX's Downfall: The Role of Sam Bankman-Fried's Parents
Sam Bankman-Fried's parents did more than shape his personality; they played a significant role in FTX's journey, reportedly earning millions from the exchange. It seems FTX was more than just a business venture; it was a family enterprise. But who exactly were these family members? 
The U.S. Department of Justice has leveled charges against three American individuals for committing fraud through SIM card swaps. Bloomberg reports that among the companies affected was the cryptocurrency exchange FTX, which suffered a loss of over $400 million in client assets in the aftermath of its bankruptcy announcement. 
The parents of Sam Bankman-Fried, the founder of the now-defunct crypto exchange FTX (Joseph Bankman and Barbara Fried), are refusing to give back assets received from their son. They've requested the court to dismiss the lawsuit filed by the company, asserting their ignorance of any fraudulent activities and claiming that the exchange is unjustly trying to confiscate their property. 
The legal team of former FTX CEO Sam Bankman-Fried have challenged the prosecution's call for a maximum 50-year prison term, criticizing it as an outdated punishment method. This position was detailed in an official statement regarding the anticipated sentencing. The Support Campaign for SBF Continues
On March 28, the court is set to deliver its final sentence for SBF. The public is keenly waiting to see whether the life sentence for the former billionaire will be upheld or if his defense team can persuade the jury to reduce his sentence to 78 months in custody. 
The bankrupt cryptocurrency exchange FTX is set to sell Digital Custody Inc. (DCI), a subsidiary it acquired for $10 million, to CoinList for merely $500,000. The leadership deems this transaction favorable, given that DCI, a provider of custodial services, has lost its utility following the abandonment of plans to reboot the platform. 
John Reed Stark, a lawyer and former SEC enforcement chief, has labeled the effort by the leadership of the now-bankrupt crypto exchange FTX and its associated legal firms to relaunch the platform as blatant fraud. He predicts that by the end of 2024, each attorney involved in this case will afford to buy a luxury beach house, effectively financed by the funds of FTX users. 
The expanded investigation into the FTX bankruptcy, as directed by an appellate court, has been ordered to adhere to specified budgetary and temporal constraints. This ruling was issued by U.S. Federal Judge John Dorsey, aligning with the stance of the exchange's attorneys and creditors. 
Alan R. Rosenberg, an attorney with the American firm Markowitz Ringel Trusty & Hartog, believes the FTX bankruptcy process could extend over several years. The complexity is due to the vast number of creditors involved and the contentious nature of the claims. As an example, FTX's leadership continues efforts to reclaim substantial funds transferred to various entities just before its bankruptcy. Tom Farley: The New Face of FTX?
Tom Farley, CEO of the crypto exchange Bullish, made headlines on CNBC by expressing interest in acquiring the assets and brand of FTX. This announcement has stirred curiosity about Farley's identity and his journey in the financial world. So, who exactly is Tom Farley, and how serious are his aspirations?