The founder of FTX – Sam Bankman-Fried (SBF) – has reportedly pleaded not guilty in a Manhattan federal court to seven criminal charges in a new indictment. This was his first appearance since his bond was revoked earlier this month, leading to his imprisonment. SBF is expected to spend the days until his trial in...Read More
Less than two weeks after the court revoked Sam Bankman-Fried’s bail, his legal team has requested that his freedom be returned to him during weekdays, arguing that the confines of jail are, surprisingly, too restrictive and do not offer him the circumstances necessary to properly prepare for his upcoming trial. Improper Conditions SBF’s eye-watering $250...Read More
On the 14th of August, the prosecution in SBF’s ongoing court case produced the longest and most explicit list of charges so far. The document is 70 pages long and names legal precedents for most of the charges brought against him. However, special attention is given to the accusation of illegal political campaign contributions. It...Read More
Sam Bankman-Fried was reportedly sent to jail on Friday as US Judge Lewis Kaplan denied his lawyers’ request to delay detention. The former crypto mogul’s court date is set for October 2nd, and he could sit in a jail cell until then if the appeal is unsuccessful. CryptoPotato reported last month the allegations presented by...Read More
A group of customers of the once-prominent cryptocurrency exchange FTX has reportedly filed a lawsuit against the law firm Fenwick & West, insisting that it contributed to the alleged scam orchestrated by Sam Bankman-Fried (SBF) and the subsequent multi-billion losses it brought. The former leader of the exchange has pleaded not guilty to the fraud...Read More
Cohen & Gresser – an international law firm representing the former CEO of FTX Sam Bankman-Fried (SBF) – maintained that he did not attempt to intimidate Caroline Ellison (ex-leader of Alameda Research) or taint the jury’s sentiment when talking to a New York Times reporter. The 31-year-old, who faces several fraud charges and is accused...Read More
The U.S. Department of Justice (DOJ) has requested that the bail bond of Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, be revoked and that the court impose a detention order against him due to his attempts to tamper with witnesses. According to a letter submitted to Judge Lewis Kaplan...Read More
Following the leak of Caroline Ellison’s private diary to the New York Times, a flurry of accusations was served against SBF, as evidence at the time already pointed towards his identity as the source. Constant Communication With Reporters and Unidentified Guests Since then, SBF has been served a gag order meant to stop him from...Read More
U.S. Congress undertook its first-ever markup for digital asset legislation on Wednesday, attempting to establish clear jurisdiction for the nation’s chief market regulators. The bill was not well received by Democrats, however, many of whom find it overly friendly to the crypto industry, and similar to what disgraced FTX boss Sam Bankman-Fried had advocated for....Read More
As Sam Bankman-Fried’s trial draws ever closer, the prosecution has taken action to prevent him from tampering with witnesses in the case by attempting to influence them one way or another. SBF Suspected of Ellison Leak The moment FTX collapsed, Sam Bankman-Fried started an “apology tour,” telling various reporters and government representatives that he hadn’t...Read More
FTX Trading has reportedly filed a lawsuit against the former CEO of the exchange Sam Bankman-Fried (SBF), and some people from his inner cycle to recoup more than $1 billion, which they supposedly misappropriated before the company’s demise. Numerous regulators and fallen investors have accused the previous management team of the marketplace of orchestrating a...Read More
Major venture capital firm Sequoia Capital has seen the departure of five key partners, including two investors who were involved in the company’s failed investment in Sam Bankman-Fried’s bankrupt crypto exchange, FTX. While Sequoia claimed that the collapse of FTX had no significant impact on the firm, the VC was accused of promoting FTX. Sequoia...Read More
Lawyers representing Sam Bankman-Fried (SBF) requested Judge Lewis Kaplan to issue an order permitting certain people to visit their client without the necessity of security checks. Despite being allowed to reside at his parents’ house, the former CEO of FTX is subject to strict restrictions. He must wear an electronic monitoring bracelet, while a security...Read More
In a temporary respite for Sam Bankman-Fried, the disgraced founder of now-bankrupt cryptocurrency exchange FTX was able to block the addition of new charges in his United States indictment. The ruling comes as the former exec sought an opportunity to make arguments in the country to drop a few existing charges against him. The court...Read More
Unlike other FTX executives, who pleaded guilty to misdeeds while running FTX and have likely provided a treasure trove of information to the authorities in exchange for a lighter sentence, Sam Bankman-Fried has continued to maintain his innocence. However, as the date that his case gets sent to trial grows ever nearer, his legal team...Read More
In a recent interview, the former partner of Sam Bankman-Fried doubled down on his belief that the FTX founder is the crypto spin-off of Bernie Madoff. Nevertheless, Scaramucci added that he is sticking with crypto and bitcoin and provided his company’s intrinsic BTC value at the moment. The former White House Director of Communications for...Read More
Bankrupt cryptocurrency entities FTX, FTX.US, and Alameda Research have filed a lawsuit against former executives Sam Bankman-Fried (SBF), Nishad Singh, and Gary Wang for lavishly spending FTX Group’s assets on the acquisition of stock clearing firm Embed Financial Technologies. The move is the first formal action from FTX CEO John Ray against the company’s former...Read More
As Sam Bankman-Fried awaits his trial this autumn with Doordash as his only solace, his lawyers are busy attempting to get him as easy one as possible. After his antics nearly caused his bail to be reversed, ultimately leading to his ban from video games and most of the internet, SBF’s lawyers have spent countless...Read More
The US Federal Bureau of Investigation (FBI) reportedly searched the home of Ryan Salame – the former CEO of FTX’s Bahamian subsidiary. The raid comes several months after the gigantic collapse of the once-prominent crypto giant. Numerous agencies, prosecutors, and failed investors have claimed the exchange committed fraud against its customers, calling upon severe punishment...Read More
The Securities Commission of the Bahamas reportedly plans to strengthen the domestic cryptocurrency regulatory framework after the collapse of FTX, which was based in the island nation. One such amendment will be the prohibition of algorithmic stablecoins and privacy tokens. The Bahamas was also where Sam Bankman-Fried (SBF) – the former CEO of FTX –...Read More
Patrick Hilmann, the Chief Strategy Officer (CSO) of leading crypto exchange Binance, alleged that Sam Bankman-Fried (SBF), the founder and former CEO of the now-defunct rival exchange FTX, consistently criticized Binance’s CEO Changpeng Zhao (CZ) before FTX’s collapse, a behavior Hilmann referred to as “shading.” In a recent tweet, the CSO disclosed that SBF was...Read More
On April 9, FTX Trading and its affiliated debtors released their first report on the control failures at the embattled exchange. It details the lack of risk management, inadequate record keeping, poor cyber security, and Sam Bankman Fried’s overreaching role in any decision-making. The report is based on the debtors’ review of terabytes of electronic...Read More
Founder and former CEO of bankrupt FTX exchange, Sam Bankman-Fried, will again plead not guilty to recent charges brought against him by US prosecutors, which include unlawful political donations and alleged bribery of Chinese officials. He is scheduled to stand trial for various criminal charges in October. Bankman-Fried to Plead Not Guilty to 13-Count Charges...Read More
Buried in a mountain of charges from the Justice Department, Former FTX CEO Sam Bankman-Fried (SBF) is reportedly paying his legal fees with money gifted to his father that was initially borrowed from his trading firm, Alameda Research. The multi-million dollar revelation comes after Bankman-Fried claimed in late November that he had just $100,000 left...Read More
Former FTX boss Sam Bankman-Fried (SBF) has been slapped with another lawsuit from the Department of Justice (DOJ) for sending millions of dollars in bribe money to Chinese government officials The department claims that the bribe, worth $40 million, was to induce the government to unfreeze accounts connected to FTX’s sister trading firm, Alameda Research. ...Read More
In the race to untangle the FTX Group’s balance sheets – which were poorly kept at best and deliberately fraudulent at worst – the new leadership brought in to clean up the mess has uncovered $3.2 billion worth of direct payments to the former execs during the platform’s operation. Sum Represents Non-Operational Costs The figure...Read More
On March 8, attorneys working for former crypto billionaire Sam Bankman-Fried said his criminal trial scheduled for October 2 may need to be delayed. They argued that it may take more time than expected to review the evidence and prepare a defense, according to Reuters. The lawyers sent a letter to U.S. District Judge Lewis...Read More
Disgraced FTX founder Sam Bankman-Fried (SBF) is under yet another layer of legal pressure after a judge unsealed a superseding 12-count indictment against him on Thursday. The filing adds 4 new charges to an 8-count indictment introduced in December, and includes new details regarding illegal political donations made by SBF. Straw Donor Scheme As the...Read More
Sam Bankman-Fried (SBF), the founder and former CEO of the now-defunct cryptocurrency exchange FTX, is resisting an order to testify at the bankruptcy hearing of crypto broker Voyager Digital. On Tuesday, SBF’s attorneys asked a federal judge to quash the order because it was not served properly, Bloomberg reported Wednesday. SBF Fights Voyager’s Subpoena Recall...Read More
Nishad Singh, the former head of engineering at bankrupt crypto exchange FTX, is close to striking a plea deal with federal prosecutors in the ongoing case against the exchange and its execs. According to a Bloomberg report, which cited people familiar with the matter, Singh plans to plead guilty to criminal charges over his role...Read More
