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Former FTX CEO Sam Bankman-Fried is seeking to keep control over $450 million in shares of trading app Robinhood Markets. The 56 million shares, in principle owned by Bankman-Fried and FTX co-founder Gary Wang through a holding company called Emergent Fidelity Technologies, are the subject of a complex legal battle that also includes bankrupt crypto lender BlockFi and the U.S. Department of Justice. In a filing with a U.S. bankruptcy court in Delaware, FTX said the shares were only nominally held by Emergent Fidelity and should be frozen until they can be divided up fairly among FTX creditors. Bankman-Fried opposed that idea in a court filing made Thursday, arguing that he and Wang had legitimately bought the shares using money borrowed from FTX’s trading arm, Alameda Research, and that the loan was documented.

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Digital Currency Group, the cryptocurrency conglomerate whose Genesis Global Trading division announced more layoffs on Thursday, said it's shutting down its wealth-management division called HQ. "Due the state of the broader economic environment and prolonged crypto winter presenting significant headwinds to the industry, we made the decision to wind down HQ" as of Jan. 31, the company said in a statement. DCG is also the parent company of CoinDesk.

The price of tron, the 18th-largest token by market capitalization, tumbled Friday amid tensions stemming from crypto exchange Huobi as the broader crypto market held steady. Justin Sun, who is the founder of Tron, sits on Huobi’s advisory board. The exchange said Friday it will cut its headcount by 20% and also closed internal staff communication channels to quell a rebellion, according to reports on Twitter. TRX fell nearly 8% in the past 24 hours, data shows. Huobi’s native HT exchange tokens have lost as much as 11% in the past 24 hours. Tron’s troubles come amid the crypto winter and ahead of the U.S. jobs report for December, which is due to be released at 8:30 a.m. ET on Friday.

Derivatives giant Chicago Mercantile Exchange’s (CME) crypto-related trading volumes suffered a steep falloff in the last month of 2022.

Total crypto derivatives volume plunged 49.2% to $14.2 billion, according to CryptoCompare, the weakest since October 2020. Bitcoin futures volume was down 48.3% to $13.2 billion, with ether futures volume off 55.3% to $481 million.

The slump was in line with spot trading volumes across the industry, according to the report. That amount fell 48.4% to $544 billion, the lowest figure since December 2019.

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