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In a letter to the Financial Times, dated 17.11.22, Dr Stephen Castell, expert witness, discusses FTX Crypto Losses, and the Binance 'Recovery Fund':
- Nov 22, 2022
- Latest News
As an independent ICT professional in software and systems forensics and computer evidence, I am instructed as expert witness in the US Class Action in the Voyager case, now additionally including Defendants Mark Cuban and the Dallas Mavericks, for a $4 billion dollar crypto loss (UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA MIAMI DIVISION, Case No.: 22-CV-22538-ALTMAN/REID). My instructing attorneys, The Moskowitz Law Firm, Florida, have also just filed suit, the first and only US nationwide Class Action on behalf of all FTX investors, against former management of FTX and numerous celebrity endorsers for their $10 billion dollar loss; the Defendants include Tom Brady, Larry David, Gisele Bundchen, Stephen Curry, Shaquille O'Neil, Shohei Ohtani, Kevin O'Leary, William Trevor and Naomi Osaka (EDWIN GARRISON, et al., on behalf of themselves and all others similarly situated, Plaintiffs v. SAM BANKMAN-FRIED, et al., Defendants, Case 1:22-cv-23753).
From my long experience acting as an expert in digital litigation, the disclosure of FTX’s corporate documents, software, data, blockchain and other relevant evidence, pertaining both to the operation, management and administration of FTX, and to its crypto transactions and trading of digital assets on behalf of its customers and investors, should, through the formal court discovery processes in such legal proceedings, certainly assist in ‘Untangling the knotty empire of Bankman-Fried and FTX’ (Bryce Elder, Financial Times, November 10, 2022 https://www.ft.com/content/c28e0570-d4c4-433c-b0a0-c99fba613822), permitting expert examination of the issues and insightful expert testimony, and assisting in the reaching of judicial conclusions as to the liabilities involved.
It is also widely reported that Binance’s CEO Changpeng Zhao (‘CZ’) has announced plans to launch a ‘crypto recovery fund’ to help those affected by the wider liquidity crunch that has rapidly arisen as a result of the FTX collapse, and ameliorate the effects of the associated continuing, cascading contagious consequences throughout the crypto asset industry. CZ is to be applauded if he is here showing the responsibility that I suggested in my earlier letter (‘A crypto challenge for the Binance boss’, Financial Times, July 16 2021 https://www.ft.com/content/210b4123-ebf2-4933-a92f-da5da9616cbe), noting he should support my proposed CryptoSure Trust Model for crypto industry trust and self-regulation .
And CZ could of course tokenise such a recovery fund! If he wishes to do so, I have ContagionCoin.com available for him.
 Published March 2021: ‘Slaying the Crypto Dragons: Towards a CryptoSure Trust Model for Crypto-economics | Blockchain vs. Trust: The Expert’s View of the Crypto Scammers’,
by Dr Stephen Castell, CASTELL Consulting; Chapter in the Springer-SIST book “Blockchain Technology and Innovation in Business Process”:
Blockchain Technology and Innovations in Business Processes, 03/2021: pages 49-65; , ISBN: 978-981-33-6469-1, DOI:10.1007/978-981-33-6470-7_4
The eBook ISBN – 978-981-33-6470-7 (https://link.springer.com/book/10.1007/978-981-33-6470-7)
The DOI of my chapter – 10.1007/978-981-33-6470-7_4 (https://link.springer.com/chapter/10.1007/978-981-33-6470-7_4).
For more information please see https://www.yahoo.com/now/tom-brady-gisele-b-ndchen-154536813.html