After a tumultuous year, court cases inevitably follow. Bankruptcy, liquidity problems and fraud have created a high-power microscope for regulators in the field around the world.

Voyager Digital, FTX's investment arm Alameda Research and its cryptocurrency exchange Binance, the former digital money broker, eventually became targets for assets and borrowing by the Securities and Exchange Commission.

With the advance of 2023, there are too many login password court cases. The following is a brief and specific description of the status of some of the most urgent litigation in this field.

It all started when the Voyager went bankrupt.

The phenomenon of Voyager Digital officially began before the FTX liquidity crisis was exposed. On July 5, 2022, the company filed for bankruptcy, initially trying to "return use value" to 1.03 million customers who had damaged millions of dollars.

Nearly a month after filing for bankruptcy, according to media reports, Voyager has "strong contact" with Alameda Scientific Research. Alamada is the largest shareholder in Voyager, owning 11.56 per cent of the company after two cumulative $110 million project investments.

The auction of Voyager assets began on Sept. 13, with some key players in the industry vying for market share in the rest of the company's assets. It mainly includes companies such as Binance, CrossTower and FTX.

FTX won the auction after bidding for the company's property for $1.4 billion. At that time, I heard that after the FTX transaction was completed, Voyager users could get back 72% of their property-similar to the current statement made by some companies participating in Binance.US recycling Voyager.

But in mid-to-late October, federal prosecutors in Texas boycotted the Voyager auction and launched an investigation and analysis of potential securities irregularities in FTX.

The decline of FTX

Before all the deals were done, the login password field got one of the biggest flammability events of the year, when FTX, FTX US and Alameda Research filed for bankruptcy protection in the United States, and co-founder and former CEO Rob Bankman-Fred was slightly inferior and left on November 11th.

The incident caused shock waves throughout the market, and several companies were affected by their proximity to FTX.

After this unexpected collapse, SEC gradually doubted its supervision and development strategy for the login password industry. FTX's bid for Voyager has been rejected, and FTX itself is still bidding.

Binance intervention

When the liquidity crisis broke out, the co-founder of Binance and CEO Chang Peng "CZ" Zhao was the first person to explicitly put forward the definition of reserve confirmation after FTX. The trading center is also considering recycling FTX, although it didn't go well in the end.

Around December 19th, it is understood that Binance.US will recycle Voyager Digital Assets at a price of about $1 billion.

Soon after, on January 5, 2023, the SEC boycotted the recycling of Binanc.US because it wanted to use a $1 billion deal between the two physical lines to include more details.

While both SEC and Texas congressmen boycotted the Binance.US deal, about 97 per cent of Voyager clients surveyed supported the restructuring plan, according to a survey of data released in court documents.

On March 7, bankruptcy Chief Justice Michael Wiles approved the transfer and said the case could not be "permanently frozen" on the premise of tough regulatory problems. But the next day, with the U. S. Justice Department appealing the permission, the table tennis match continued.

Alameda returned to the scene.

In addition, on January 30, Alameda Scientific Research filed a lawsuit against Traveler data for $446 million, alleging that Traveler "intentionally or recklessly" shipped customer assets to Alameda.

After the lawsuit was concluded, the traveler's lawyer sent subpoenas to Sam Bankman-Fry and his former AlamedaCEOCaroline Ellison, FTX founder Gary Wang and FTX merchandise head Ramnic Arora.

On February 19th, the debtor of Voyager sent a subpoena to Bankman-Fry and asked to appear in court for "remote control to testify".

On March 8th, court documents announced that Delaware bankruptcy Chief Justice Robert Dorsey allowed Traveler data to set aside $445 million as a result of Alameda's lawsuit. The next day, Alameda revealed that it planned to sell the rest of its today's capital to an Abu Dhabi equity fund for $45 million.

The status of due process and regulatory authorities in the United States continues between these three entity lines.