Sam Bankman-Fried’s downfall sends shockwaves through crypto
2 years, 1 month ago

Sam Bankman-Fried’s downfall sends shockwaves through crypto

Associated Press  

NEW YORK — Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire. “This is the direct result of a rogue actor breaking every single basic rule of fiscal responsibility,” said Patrick Hillman, chief strategy officer at Binance, FTX’s biggest competitor. “I care because it’s retail investors who suffer the most, and because too many people still wrongly associate bitcoin with the scammy ‘crypto’ space,” said Cory Klippsten, CEO of Swan Bitcoin, who for months raised concerns about FTX’s business model. Zhao helped kickstart the withdrawals that doomed FTX when he said Binance would sell its holdings in FTX’s crypto token FTT.

Cryptocurrency Crypto New York Binance Zhao Sequoia Ftx Sam  bankmanfrieds  industry  bankmanfried  ftxs  sends  wrote  fund  withdrawals  crypto  ftx  sam  downfall  zhao  shockwaves  cryptocurrency

History of this topic

How Sam Bankman-Fried’s ex-girlfriend helped topple the crypto king
2 months, 4 weeks ago

How Sam Bankman-Fried’s ex-girlfriend helped topple the crypto king

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “He said that he was a …

What happened to FTX? The collapse of Sam Bankman-Fried’s crypto ‘house of cards’
8 months, 3 weeks ago

What happened to FTX? The collapse of Sam Bankman-Fried’s crypto ‘house of cards’

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The crypto magnate, whose wealth was estimated as high as $26bn, testified before Congress in December that …

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX
8 months, 3 weeks ago

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX

Associated Press  

Sam Bankman-Fried went from cryptocurrency golden boy to the face of the industry’s collapse. 2022 Nov. 2: Coindesk reports Alameda Reseach, Bankman-Fried’s cryptocurrency trading firm, holds a large amount of FTT, a token issued by FTX, suggesting the finances of the two are intertwined and Alameda faces a cash crunch. Nov. 17: Ray gives a damning description of FTX’s operations …

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX
8 months, 3 weeks ago

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The founder and former CEO of the massive cryptocurrency …

The Bankman-Fried verdict, explained
8 months, 3 weeks ago

The Bankman-Fried verdict, explained

Associated Press  

NEW YORK — Sam Bankman-Fried co-founded the FTX crypto exchange in 2019 and quickly built it into the world’s second most popular place to trade digital currency. FTX had two lines of business: a brokerage where customers could deposit, buy, and sell cryptocurrency assets on the FTX platform, and an affiliated hedge fund known as Alameda Research, which took speculative …

FTX founder Sam Bankman-Fried sentenced to 25 years for multi-billion dollar crypto fraud
8 months, 3 weeks ago

FTX founder Sam Bankman-Fried sentenced to 25 years for multi-billion dollar crypto fraud

Hindustan Times  

Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall. U.S. District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing after rejecting Bankman-Fried's claim that FTX customers did …

FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison
54 years, 11 months ago

FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison

Wired  

A US federal judge in the Southern District of New York has sentenced Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, to 25 years in prison. In a court filing, the US government described the affair as “one of the largest financial frauds in history.” Bankman-Fried had demonstrated “unmatched greed and hubris” and a “brazen disrespect for the rule of …

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison
8 months, 3 weeks ago

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

Associated Press  

NEW YORK — Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. Assistant U.S. Attorney Nicolas Roos had recommended a prison sentence of 40 to 50 years, saying …

Dethroned crypto king Sam Bankman-Fried to be sentenced for defrauding FTX investors
8 months, 3 weeks ago

Dethroned crypto king Sam Bankman-Fried to be sentenced for defrauding FTX investors

New Indian Express  

Two weeks ago, Bankman-Fried attorney Marc Mukasey attacked a probation office recommendation of 100 years in prison, saying a sentence of that length would be “grotesque” and “barbaric.” He urged the judge to sentence Bankman-Fried to a term of five to 6 1/2 years in prison. "Sam is not the ‘evil genius’ depicted in the media or the greedy villain …

Ex-crypto mogul Sam Bankman-Fried due to be sentenced for defrauding FTX
8 months, 3 weeks ago

Ex-crypto mogul Sam Bankman-Fried due to be sentenced for defrauding FTX

Al Jazeera  

The 32-year-old illegally used money from depositors of one of the world’s most popular platforms for trading digital currency to cover his expenses. Former crypto mogul Sam Bankman-Fried is due to be sentenced for his role in the 2022 collapse of FTX, once one of the world’s most popular platforms for trading digital currency. “Mr Bankman-Fried continues to live a …

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison
8 months, 3 weeks ago

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

LA Times  

Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. And it’s not a trivial risk at all.” He added that it was “for the purpose of disabling him to the extent that can appropriately …

“Lack of any remorse”: Judge tears into Sam Bankman-Fried as he sentences him to 25 years
8 months, 3 weeks ago

“Lack of any remorse”: Judge tears into Sam Bankman-Fried as he sentences him to 25 years

Salon  

FTX founder Sam Bankman-Fried was sentenced to 25 years on Thursday after he was convicted of defrauding the company’s customers. U.S. District Judge Lewis Kaplan ordered the crypto billionaire to more than two decades in prison after Bankman-Fried’s lawyers recommended a sentence of five to seven years, according to Axios. "He knew it was wrong," Kaplan said, rejecting SBF’s claims …

FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer
9 months ago

FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer

Associated Press  

NEW YORK — The chief executive of the cryptocurrency company Sam Bankman-Fried founded attacked the onetime crypto power player on Wednesday in a letter to a federal judge scheduled to sentence him next week, saying his claim that customers, lenders and investors were not harmed was callously false and he was living a “life of delusion.” FTX Trading Limited CEO …

FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer
9 months ago

FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The chief executive of the …

Prosecutors seek from 40 to 50 years in prison for Sam Bankman-Fried for cryptocurrency fraud
9 months, 1 week ago

Prosecutors seek from 40 to 50 years in prison for Sam Bankman-Fried for cryptocurrency fraud

Associated Press  

NEW YORK — FTX founder Sam Bankman-Fried’s orchestration of one of history’s largest financial frauds in his quest to dominate the cryptocurrency world deserves a prison sentence of 40 to 50 years, federal prosecutors on Friday told a federal judge. They said crimes reflecting a “brazen disrespect for the rule of law” had depleted the retirement funds and nest eggs …

FTX fraudster Sam Bankman-Fried convicted of all charges in $8bn case
1 year, 1 month ago

FTX fraudster Sam Bankman-Fried convicted of all charges in $8bn case

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy FTX founder Sam Bankman-Fried …

FTX’s Sam Bankman-Fried found guilty. A timeline of the events
1 year, 1 month ago

FTX’s Sam Bankman-Fried found guilty. A timeline of the events

Live Mint  

Sam Bankman-Fried, co-founder and former CEO of cryptocurrency exchange FTX, is convicted on seven charges of fraud and money laundering by a New York jury, as per an AP report. Speaking to reporters after the hearing, US Attorney Damian Williams said the FTX fraud perpetrated by Bankman-Fried is "one of the biggest financial frauds in American history". " A timeline …

Sam Bankman-Fried: All you need to know about FTX founder
1 year, 1 month ago

Sam Bankman-Fried: All you need to know about FTX founder

Live Mint  

Sam Bankman-Fried has been found guilty on all seven counts related to fraud and money laundering. Hence, the son of two Stanford Law School professors resigned from his Wall Street position and launched a cryptocurrency hedge fund in 2017, which sparked a series of events that led to his criminal conviction on Thursday for participating in what federal prosecutors have …

Ex-crypto mogul Sam Bankman-Fried convicted for FTX collapse, faces 110 years in prison
1 year, 1 month ago

Ex-crypto mogul Sam Bankman-Fried convicted for FTX collapse, faces 110 years in prison

Hindustan Times  

FTX founder Sam Bankman-Fried was found guilty on Thursday of defrauding customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire's fall from grace. Once the darling of the crypto world, Bankman-Fried - who was known for his mop of unkempt curly hair and for wearing shorts …

What to know about the Sam Bankman-Fried trial verdict
1 year, 1 month ago

What to know about the Sam Bankman-Fried trial verdict

Al Jazeera  

The FTX founder has been found guilty on seven charges, and he may face decades in prison. Sam Bankman-Fried’s fraud trial has ended with a guilty verdict for the crypto tycoon and the possibility that he spends decades behind bars. On Thursday, a New York federal court jury found Bankman-Fried guilty on all seven charges for fraud and conspiracy that …

Crypto tycoon Sam Bankman-Fried found guilty on all charges in fraud trial
1 year, 1 month ago

Crypto tycoon Sam Bankman-Fried found guilty on all charges in fraud trial

Al Jazeera  

Bankman-Fried faces up to 110 years behind bars following guilty verdict. Former crypto tycoon Sam Bankman-Fried has been found guilty on all charges after orchestrating what authorities have described as one of the biggest financial frauds in US history. Prosecutors accused Bankman-Fried, once the poster boy for virtual currencies, of stealing about $10bn, using customers’ funds to make risky investments, …

FTX founder Sam Bankman-Fried is found guilty of all charges including fraud
1 year, 1 month ago

FTX founder Sam Bankman-Fried is found guilty of all charges including fraud

NPR  

FTX founder Sam Bankman-Fried is found guilty of all charges including fraud A jury in New York found the so-called crypt king guilty of securities fraud and six other criminal counts. A jury in New York found Sam Bankman-Fried guilty of seven criminal counts, including securities fraud and money laundering. Prosecutors said a fraudster is a fraudster, and they pushed …

FTX founder Sam Bankman-Fried convicted of defrauding cryptocurrency customers
1 year, 1 month ago

FTX founder Sam Bankman-Fried convicted of defrauding cryptocurrency customers

Associated Press  

NEW YORK — FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl After the monthlong trial, jurors rejected Bankman-Fried’s claim during testimony in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world’s second-largest crypto exchange, collapsed …

Sam Bankman-Fried created a 'pyramid of deceit' because he 'thought he was smarter and better', prosecutor tells jury in closing statements of his $8 BILLION fraud trial
1 year, 1 month ago

Sam Bankman-Fried created a 'pyramid of deceit' because he 'thought he was smarter and better', prosecutor tells jury in closing statements of his $8 BILLION fraud trial

Daily Mail  

Sam Bankman-Fried created a 'pyramid of deceit' with his crypto empire before its spectacular collapse in November last year, prosecutors claimed at the finale of his $8 billion fraud trial. Sam Bankman-Fried created a 'pyramid of deceit' with his crypto empire which collapsed, prosecutors claimed in the closing statements of his $8billon fraud trial Prosecutor Nicolas Roos used his closing …

FTX founder Sam Bankman-Fried acknowledges in court that customers were hurt but denies fraud
1 year, 1 month ago

FTX founder Sam Bankman-Fried acknowledges in court that customers were hurt but denies fraud

The Hindu  

October 28, 2023 09:55 am | Updated 09:55 am IST Sam Bankman-Fried, testifying at his fraud trial Friday, cast himself as a bumbling cryptocurrency visionary who knew nothing about the industry when he started FTX or about marketing when he became the face of his company and not enough about his businesses to see they were $10 billion in the …

FTX’s Bankman-Fried admits ‘mistakes’, denies fraud at trial
1 year, 1 month ago

FTX’s Bankman-Fried admits ‘mistakes’, denies fraud at trial

Al Jazeera  

Sam Bankman-Fried says he never set out to steal from people while testifying in his own defence in Manhattan court. FTX founder Sam Bankman-Fried has admitted to making mistakes but denied defrauding customers while testifying in his own defence at his high-profile fraud trial in New York. Bankman-Fried said on Friday that a “lot of people got hurt” when FTX …

Sam Bankman-Fried DENIES stealing $10billion from FTX customers but admits he made 'large mistakes' in managing risks as he testifies in his own defense in fraud trial
1 year, 1 month ago

Sam Bankman-Fried DENIES stealing $10billion from FTX customers but admits he made 'large mistakes' in managing risks as he testifies in his own defense in fraud trial

Daily Mail  

Bankman-Fried faces 115 years behind bars if he's found guilty of fraud and conspiracy The founder of FTX denied stealing $10billion from customers as he took the risky decision to testify in his fraud trial today. Sam Bankman-Fried admitted that he made some 'large mistakes' and said 'a lot of people got hurt' when the crypto exchange collapsed last November. …

FTX founder Sam Bankman-Fried denies that he defrauded anyone
1 year, 1 month ago

FTX founder Sam Bankman-Fried denies that he defrauded anyone

Associated Press  

NEW YORK — Sam Bankman-Fried, testifying at his fraud trial Friday, cast himself as a bumbling cryptocurrency visionary who knew nothing about the industry when he started FTX or about marketing when he became the face of his company and not enough about his businesses to see they were $10 billion in the hole until shortly before they collapsed. Asked …

Sam Bankman-Fried gave fortunes to celebrities and politicians. Nishad Singh saw it up close.
1 year, 2 months ago

Sam Bankman-Fried gave fortunes to celebrities and politicians. Nishad Singh saw it up close.

Slate  

This is part of Slate’s daily coverage of the intricacies and intrigues of the Sam Bankman-Fried trial, from the consequential to the absurd. So yeah, Kives was quite connected, and Bankman-Fried noted that “he’s been very friendly to us, and already started to create valuable relationships,” linking to an Instagram post from Katy Perry captioned, “im quitting music and becoming …

Sam Bankman-Fried's lawyer says FTX investments were not 'reckless'
1 year, 2 months ago

Sam Bankman-Fried's lawyer says FTX investments were not 'reckless'

The Hindu  

FTX founder Sam Bankman-Fried's lawyer on Tuesday said the now-bankrupt cryptocurrency exchange's investments were not "reckless and frivolous," pushing back against testimony by former executive Nishad Singh portraying its spending on marketing and celebrity endorsements as excessive. Defence lawyer Mark Cohen on Tuesday asked Singh, one of three former members of Bankman-Fried's inner circle who have pleaded guilty to fraud …

Opinion: Why Sam Bankman-Fried’s aversion to ‘grownups’ will likely prove to be criminal
1 year, 2 months ago

Opinion: Why Sam Bankman-Fried’s aversion to ‘grownups’ will likely prove to be criminal

LA Times  

FTX founder Sam Bankman-Fried leaves court in New York following his extradition to the U.S. in December. Recognizing that the crypto market needed a better-designed exchange that professional traders would be willing to use, Bankman-Fried enlisted his friend Gary Wang to write the code for FTX. Bankman-Fried allowed it to borrow an unlimited amount of money from FTX, effectively using …

FTX co-founder testifies against Sam Bankman-Fried, saying they committed crimes and lied to public
1 year, 2 months ago

FTX co-founder testifies against Sam Bankman-Fried, saying they committed crimes and lied to public

Associated Press  

NEW YORK — Prosecutors went to the heart of their case against FTX founder Sam Bankman-Fried on Thursday as the company’s co-founder began his testimony, telling a New York jury that he and Bankman-Fried committed financial crimes and lied to the public before the cryptocurrency trading platform collapsed last year. Gary Wang, 30, said he committed wire, securities and commodities …

Sam Bankman-Fried: Key moments leading up to FTX founder’s trial
1 year, 2 months ago

Sam Bankman-Fried: Key moments leading up to FTX founder’s trial

Al Jazeera  

The former billionaire’s fraud trial stems from the dramatic collapse of the FTX cryptocurrency exchange he founded. Sam Bankman-Fried’s fraud trial, which kicked off on Tuesday in the United States, marks the culmination of a yearlong legal saga stemming from the dramatic collapse of the FTX cryptocurrency exchange he founded. The trial, expected to last about six weeks, comes nearly …

Sam Bankman-Fried must now convince a jury that the former crypto king was not a crook
1 year, 2 months ago

Sam Bankman-Fried must now convince a jury that the former crypto king was not a crook

Associated Press  

NEW YORK — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. Prosecutors from the Southern District of New York are expected to lay out a case against Bankman-Fried that shows he stole billions of dollars in FTX customer deposits and used the money to fund his hedge fund, buy …

Former crypto king Sam Bankman-Fried must now convince a jury he was not a crook
1 year, 2 months ago

Former crypto king Sam Bankman-Fried must now convince a jury he was not a crook

LA Times  

For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. Prosecutors from the Southern District of New York are expected to lay out a case against Bankman-Fried that shows he stole billions of dollars in FTX customer deposits and used the money to fund his hedge fund, buy real estate and …

FTX attorneys accuse Sam Bankman-Fried’s parents of unjustly enriching themselves with company funds
1 year, 3 months ago

FTX attorneys accuse Sam Bankman-Fried’s parents of unjustly enriching themselves with company funds

Associated Press  

— Lawyers for FTX Trading have filed a lawsuit accusing the parents of its founder Sam Bankman-Fried of exploiting their influence over their son to siphon millions of dollars from the company, while spending lavishly on a luxury home in the Bahamas and funneling contributions to their “pet causes” and Stanford University. “And together, Bankman and Fried siphoned millions of …

FTX attorneys accuse Sam Bankman-Fried's parents of unjustly enriching themselves with company funds
1 year, 3 months ago

FTX attorneys accuse Sam Bankman-Fried's parents of unjustly enriching themselves with company funds

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr. Ray and his massive team of lawyers, who …

FTX sues Sam Bankman-Fried’s parents to claw back funds
1 year, 3 months ago

FTX sues Sam Bankman-Fried’s parents to claw back funds

LA Times  

Barbara Fried, mother of former FTX Chief Executive Sam Bankman-Fried, leaves after a bail hearing for her son at Manhattan Federal Court on Aug. 11. The managers of bankrupt crypto exchange FTX sued the parents of co-founder and former Chief Executive Sam Bankman-Fried to “recover millions of dollars in fraudulently transferred and misappropriated funds.” Allan Joseph Bankman and Barbara Fried …

FTX’s Bankman-Fried faces new charges in updated indictment
1 year, 10 months ago

FTX’s Bankman-Fried faces new charges in updated indictment

Associated Press  

NEW YORK — FTX founder Sam Bankman-Fried faced new fraud charges Thursday, as prosecutors accused him of cheating thousands of investors out of billions of dollars while casting himself as a trustworthy ”savior of the cryptocurrency industry” — an image boosted by celebrity-studded Super Bowl advertising and big donations to political figures. Prosecutors said Bankman-Fried stole billions of dollars in …

Column: The government crackdown on crypto is well underway. Get out while you can
1 year, 10 months ago

Column: The government crackdown on crypto is well underway. Get out while you can

LA Times  

Sam Bankman-Fried, founder of the crypto firm FTX, appearing at a Senate committee hearing in February 2022, when he lobbied for looser regulations. “There’s no there there, and we have plenty of history to prove it,” Lee Reiners, a crypto expert at Duke and former regulatory official at the Federal Reserve Bank of New York, told the Senate Banking Committee …

FTX founder keeps talking, ignoring typical legal strategy
1 year, 10 months ago

FTX founder keeps talking, ignoring typical legal strategy

Associated Press  

NEW YORK — For federal prosecutors, Sam Bankman-Fried could be the gift that keeps on giving. Federal prosecutors have said Bankman-Fried devised “a scheme and artifice to defraud” FTX’s customers and investors right from FTX’s inception. For instance, Bankman-Fried says that when FTX collapsed, outside parties had made funding offers totaling billions of dollars, and if given a few weeks …

Sam Bankman-Fried’s latest defense, on Substack, is utterly unconvincing.
1 year, 11 months ago

Sam Bankman-Fried’s latest defense, on Substack, is utterly unconvincing.

Slate  

This article is from Full Stack Economics, a newsletter about the economy, technology, and public policy. So when panicked customers started trying to pull their money out of FTX in early November, FTX couldn’t get customer funds back from Alameda. Special Rules for Alameda One of FTX’s biggest selling points has always been that it has a sophisticated “liquidation engine” …

FTX collapse: Former CEO Sam Bankman-Fried pleads not guilty
1 year, 11 months ago

FTX collapse: Former CEO Sam Bankman-Fried pleads not guilty

Hindustan Times  

Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges that he cheated investors in his now-bankrupt FTX cryptocurrency exchange and caused billions of dollars in losses, in what prosecutors have called an "epic" fraud. Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves following a hearing at Manhattan federal …

FTX founder Sam Bankman-Fried pleads not guilty to charges of cheating and misleading investors
1 year, 11 months ago

FTX founder Sam Bankman-Fried pleads not guilty to charges of cheating and misleading investors

Firstpost  

FTX’s Sam Bankman-Fried has denied all charges against him and will start facing a trial on October 2. FTX founder Sam Bankman-Fried has pleaded not guilty in Manhattan federal court Tuesday to charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform as a judge set a tentative trial date for October. Bankman-Fried, 30, denied charges …

Former crypto titan Sam Bankman-Fried pleads not guilty to fraud
1 year, 11 months ago

Former crypto titan Sam Bankman-Fried pleads not guilty to fraud

Al Jazeera  

The 30-year-old FTX founder, formerly worth an estimated $26bn, could face a sentence of up to 115 years in US prison. In the United States, the former cryptocurrency magnate Sam Bankman-Fried has pleaded not guilty to charges of fraud, denying allegations that he cheated investors out of billions of dollars. On Tuesday, lawyers for the 30-year-old Bankman-Fried, founder of the …

Troubles at Sam Bankman-Fried’s Alameda began well before crypto crash
1 year, 11 months ago

Troubles at Sam Bankman-Fried’s Alameda began well before crypto crash

Live Mint  

Alameda was applying Wall Street-style wizardry to the crypto world—and outsiders thought it was winning big. When one prospective lender asked about Alameda’s financials, Mr. Bankman-Fried’s lawyer explained that the firm often handled large amounts of bitcoin but offered no detailed financial information, according to a document viewed by the Journal. Mr. Bankman-Fried devised a plan for Alameda to borrow …

Crypto Recap 2022: feats and clashes that defined the year
1 year, 11 months ago

Crypto Recap 2022: feats and clashes that defined the year

The Hindu  

As the year began, Bitcoin was already crashing but major investors - such as El Salvador’s President Nayib Bukele - were still positive that the largest cryptocurrency by market capitalisation would hit a price of $100,000 before 2023. 2022 predictions on #Bitcoin: •Will reach $100k •2 more countries will adopt it as legal tender •Will become a major electoral issue …

FTX's Bankman-Fried, charged with 'epic' fraud, released on $250 million bond
2 years ago

FTX's Bankman-Fried, charged with 'epic' fraud, released on $250 million bond

Hindustan Times  

Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial over the collapse of the FTX crypto exchange, which a U.S. prosecutor called a "fraud of epic proportions." U.S. Magistrate Judge Gabriel Gorenstein set Bankman-Fried's next court date for Jan. 3, 2023, before U.S. District Judge Ronnie Abrams, who will handle the case. In …

What went wrong at Sam Bankman-Fried’s FTX? Bill Ackman has a theory
2 years ago

What went wrong at Sam Bankman-Fried’s FTX? Bill Ackman has a theory

Live Mint  

FTX's Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial over the collapse of the FTX crypto exchange, which a U.S. prosecutor called a "fraud of epic proportions". Sharing his theory on the crisis, well-known American Investor and hedge fund manager Bill Ackman in a series of tweets said, “It appears that FTX …

FTX’s Bankman-Fried, charged with ’epic’ fraud, released on $250 million bond
2 years ago

FTX’s Bankman-Fried, charged with ’epic’ fraud, released on $250 million bond

Live Mint  

Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial over the collapse of the FTX crypto exchange, which a U.S. prosecutor called a "fraud of epic proportions". US Magistrate Judge Gabriel Gorenstein set Bankman-Fried's next court date for Jan. 3, 2023, before U.S. District Judge Ronny Abrams, who will handle the case. In …

Discover Related