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 he ran his empire with “complete transparency” and noted “there is a robust, consistent risk framework applied.” open image in gallery Sam Bankman-Fried once boasted a personal fortune of $26bn As crypto values plummetted during 2022, crypto exchanges Celsius and Voyager, and tokens Luna and terraUSD, collapsed. The unravelling In early November 2022, the spark that lit the fuse that would detonate FTX came from a report in CoinDesk, which noted that two parts of Bankman-Fried’s crypto empire, Alameda and FTX, had become “unusually close”. In illustrating FTX’s lack of proper record-keeping, Mr Ray said the crypto exchange used a basic accounting software Quickbooks which is designed for individuals and small businesses. open image in gallery Crypto exchange FTX CEO John Ray, testifies before the House Financial Services Committee on “Nothing against QuickBooks, it’s a very nice tool,” Mr Ray said.

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History of this topic

Column: Suing to recover billions, FTX’s receiver discloses the stunning scale of its grift — and stupidity
1 month, 1 week ago

Column: Suing to recover billions, FTX’s receiver discloses the stunning scale of its grift — and stupidity

LA Times  

Sam Bankman-Fried, founder of FTX, was a star speaker at a cryptocurrency conference just weeks before FTX went bankrupt. In the months before FTX collapsed and filed for bankruptcy court protection on Nov. 11, 2022, Bankman-Fried and his cohorts engaged in what the receivers call a “campaign of influence-buying” in which Bankman-Fried made “lavish and showy ‘investments’. The lawsuits underscore …

Caroline Ellison begins 2-year sentence for her role in Bankman-Fried’s FTX fraud
1 month, 2 weeks ago

Caroline Ellison begins 2-year sentence for her role in Bankman-Fried’s FTX fraud

Associated Press  

DANBURY, Conn. — Caroline Ellison, a former top executive in Sam Bankman-Fried ’s fallen FTX cryptocurrency empire, began her two-year prison sentence Thursday for her role in a fraud that cost investors, lenders and customers billions of dollars. At her sentencing hearing in New York in September, she tearfully apologized and said she was “deeply ashamed.” Ellison was chief executive …

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 …

FTX ordered to pay $12.7 billion in massive crypto fraud case
4 months, 2 weeks ago

FTX ordered to pay $12.7 billion in massive crypto fraud 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 A court has ordered …

Ryan Salame, part of the 'inner circle' at collapsed crypto exchange FTX, sentenced to prison
6 months, 3 weeks ago

Ryan Salame, part of the 'inner circle' at collapsed crypto exchange FTX, sentenced to prison

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 A federal judge on Tuesday …

Ryan Salame, part of the ‘inner circle’ at collapsed crypto exchange FTX, sentenced to prison
6 months, 3 weeks ago

Ryan Salame, part of the ‘inner circle’ at collapsed crypto exchange FTX, sentenced to prison

Associated Press  

NEW YORK — A federal judge on Tuesday sentenced former FTX executive Ryan Salame to more than seven years in prison, the first of the lieutenants of failed cryptocurrency mogul Sam Bankman-Fried to receive jail time for their roles in the 2022 collapse of the cryptocurrency exchange. While Salame was a high-level executive at FTX, he was not a major …

A timeline of the collapse at FTX
7 months, 2 weeks ago

A timeline of the collapse at FTX

Associated Press  

FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse. Here is a timeline of what led up to this week’s announcement after an implosion at FTX kicked off what many had expected to become a …

FTX will return money to most customers less than 2 years after catastrophic crypto collapse
7 months, 2 weeks ago

FTX will return money to most customers less than 2 years after catastrophic crypto collapse

Associated Press  

FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX was the third-largest cryptocurrency exchange in the world when it filed for bankruptcy protection in November 2022 after it experienced the crypto equivalent of a bank run. “We …

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  

NEW YORK: Former crypto mogul Sam Bankman-Fried faces the potential of decades in prison when he is sentenced Thursday for his role in the 2022 collapse of FTX, once one of the world's most popular platforms for trading digital currency. Bankman-Fried, 32, was convicted in November of fraud and conspiracy — a dramatic fall from a year earlier when he …

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 …

FTX Says It Expects to Repay Customers in Full. Some Are Suing for More
54 years, 11 months ago

FTX Says It Expects to Repay Customers in Full. Some Are Suing for More

Wired  

A group of former customers of bankrupt crypto exchange FTX are rebelling against a proposed plan that would return the entirety of the money they lost. The plan laid out by FTX in December to return customer funds does not reflect the full scope of the firm’s obligation to customers, claims Pat Rabbitte, one of the plaintiffs in the lawsuit—particularly …

Failed crypto exchange FTX’s debtors and liquidators reach a global settlement
1 year ago

Failed crypto exchange FTX’s debtors and liquidators reach a global settlement

The Hindu  

The debtors and liquidators of the failed crypto exchange FTX have reached a global settlement, that is due to be approved by a U.S. bankruptcy court and the Supreme Court of the Bahamas Court. According to the agreement, the FTX debtors and FTX Digital Markets are to “pool assets and coordinate the establishment of reserves and the timing and amount …

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History
1 year, 1 month ago

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History

Live Mint  

The king of crypto’s largest outlaw empire told employees for years that he would never turn himself in. Hours earlier, Zhao and his company, Binance, agreed to plead guilty to resolve a Justice Department criminal investigation that has dogged the world’s largest cryptocurrency exchange almost since its launch. Zhao also bowed to pressure in September from the DOJ to sell …

Largest crypto exchange Binance fined $4 billion, CEO Changpeng Zhao pleads guilty to not stopping money laundering
1 year, 1 month ago

Largest crypto exchange Binance fined $4 billion, CEO Changpeng Zhao pleads guilty to not stopping money laundering

The Hindu  

The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. As part of the settlement agreement, the U.S. Treasury said Binance will be …

Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money laundering
1 year, 1 month ago

Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money laundering

Associated Press  

WASHINGTON — The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. As part of the settlement agreement, the U.S. Treasury said Binance …

Binance crypto exchange founder to step down amid US illicit finance probe
1 year, 1 month ago

Binance crypto exchange founder to step down amid US illicit finance probe

Al Jazeera  

Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has stepped down as CEO and pleaded guilty to violating anti-money laundering laws. “Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed. “In just the past month, the Justice Department has successfully prosecuted the CEOs of two of the world’s largest cryptocurrency exchanges in …

One year after FTX imploded, here’s how crypto is changing
1 year, 1 month ago

One year after FTX imploded, here’s how crypto is changing

Live Mint  

For many who trade cryptocurrencies for a living, the events of a year ago are forever etched in memory. “The industry still primarily offers assets that can be made up out of thin air with values that are eminently manipulable,” said Hilary Allen, a law professor at American University Washington College of Law who has written about crypto’s impact on …

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 …

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 …

Closing arguments next in FTX founder Sam Bankman’s fraud trial after his testimony ends
1 year, 1 month ago

Closing arguments next in FTX founder Sam Bankman’s fraud trial after his testimony ends

Associated Press  

NEW YORK — FTX founder Sam Bankman-Fried underwent a final barrage of questions on Tuesday from a prosecutor aimed at showing that he’s not being honest about how much he knew about the disappearance of $8 billion from his customers’ accounts, setting the stage for final arguments in his fraud trial on Wednesday. Repeatedly, she asked him why he didn’t …

Disgraced FTX founder Sam Bankman-Fried testifies during his trial over crypto collapse that he thought company was 'okay'
1 year, 1 month ago

Disgraced FTX founder Sam Bankman-Fried testifies during his trial over crypto collapse that he thought company was 'okay'

Daily Mail  

Disgraced FTX founder and billionaire Sam Bankman-Fried has testified he thought his company was 'OK' before its stunning collapse and bankruptcy. FTX founder Sam Bankman-Fried was questioned by defense lawyer Mark Cohen as he testifies in his fraud trial Bankman-Fried appeared in court charged with two counts of fraud and five counts of conspiracy. Bankman-Fried admitted to making some 'large …

Sam Bankman-Fried Built a Crypto Paradise in the Bahamas—Now He's a Bad Memory
54 years, 11 months ago

Sam Bankman-Fried Built a Crypto Paradise in the Bahamas—Now He's a Bad Memory

Wired  

Each Sunday morning, the congregation of the International Deliverance Praying Ministry gathers in front of their church, ready to be let in. Led by Bishop Lawrence Rolle, known locally as the Singing Bishop for his animated vocal displays, the church relies on donations to fund its community feeding program, which serves thousands of people each year. “It helped a lot …

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 …

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'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 …

What’s Changed for Crypto After FTX? Not Much.
1 year, 2 months ago

What’s Changed for Crypto After FTX? Not Much.

Live Mint  

The collapse of crypto exchange FTX wiped out millions of its customers’ crypto holdings and turned its billionaire founder into a pariah now facing criminal fraud charges in New York. Instead, regulators have pursued a piecemeal enforcement campaign designed to impose Wall Street’s rules on crypto—a move the biggest crypto exchanges, such as Binance, are fighting in court. Another FTX …

Sam Bankman-Fried stole customer funds from the beginning of FTX, exchange's co-founder tells jury
1 year, 2 months ago

Sam Bankman-Fried stole customer funds from the beginning of FTX, exchange's co-founder tells jury

The Hindu  

Sam Bankman-Fried authorised the illegal use of FTX customers' funds and assets to plug financial gaps at an affiliated hedge fund from the exchange's earliest days, FTX's co-founder Gary Wang told a New York jury on Friday, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of the biggest frauds in U.S. history. “FTX was not fine,” …

Sam Bankman-Fried stole customer funds from the beginning of FTX, exchange’s co-founder tells jury
1 year, 2 months ago

Sam Bankman-Fried stole customer funds from the beginning of FTX, exchange’s co-founder tells jury

Associated Press  

NEW YORK — Sam Bankman-Fried authorized the illegal use of FTX customers’ funds and assets to plug financial gaps at an affiliated hedge fund from the exchange’s earliest days, FTX’s co-founder Gary Wang told a New York jury on Friday, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of the biggest frauds in U.S. history. “FTX …

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 …

Why Silicon Valley Falls for Frauds
1 year, 2 months ago

Why Silicon Valley Falls for Frauds

Wired  

Aditiya Baradwaj joined crypto-trading firm Alameda Research when it was run out of an anonymous first-floor office in downtown Berkeley, California. It was September 2021, and the day Baradwaj arrived, Sam Bankman-Fried, the company’s founder, was sitting in the middle of the trading floor playing League of Legends. “And it’s contrary to the mission of a lot of trading firms …

What is FTX founder Sam Bankman-Fried’s trial about?
1 year, 2 months ago

What is FTX founder Sam Bankman-Fried’s trial about?

Al Jazeera  

Bankman-Fried, who had his bail revoked in August, faces multiple charges of money laundering and fraud. While crypto fans can choose from several exchanges, FTX was promoted as a “safe, responsible crypto asset trading platform”, according to an SEC complaint, with Bankman-Fried “specifically touting FTX’s sophisticated, automated risk measures to protect customer assets” like a “proprietary ‘risk engine’”. Prosecutors, however, …

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 …

Former FTX crypto executive pleads guilty to making millions in illegal campaign contributions
1 year, 3 months ago

Former FTX crypto executive pleads guilty to making millions in illegal campaign contributions

Associated Press  

NEW YORK — A former top executive at the failed FTX cryptocurrency exchange pleaded guilty Thursday to making tens of millions of dollars in illegal campaign contributions to U.S. politicians and engaging in a criminal conspiracy to operate an unlicensed money transfer business. Ryan Salame, the former co-chief executive of FTX Digital Markets, is the fourth high-ranking official at the …

Judge sends FTX founder Sam Bankman-Fried to jail, says crypto mogul tampered with witnesses
1 year, 4 months ago

Judge sends FTX founder Sam Bankman-Fried to jail, says crypto mogul tampered with witnesses

Associated Press  

NEW YORK — FTX founder Sam Bankman-Fried left a federal courtroom in handcuffs Friday when a judge revoked his bail after concluding that the fallen cryptocurrency wiz had repeatedly tried to influence witnesses against him. The judge said he concluded there was a probability that Bankman-Fried had tried to influence both anticipated trial witnesses “and quite likely others whose names …

FTX sues Bankman-Fried, others to recoup more than $1 billion
1 year, 5 months ago

FTX sues Bankman-Fried, others to recoup more than $1 billion

The Hindu  

FTX Trading on Thursday sued founder Sam Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion they allegedly misappropriated before FTX went bankrupt. The complaint filed in Delaware bankruptcy court also names as defendants Caroline Ellison, who led Bankman-Fried's Alameda Research hedge fund; former FTX technology chief Zixiao "Gary" Wang; and former FTX …

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