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, allege that FTX’s real purpose was to prop up Bankman-Fried’s other company, Alameda Research, a cryptocurrency hedge fund he founded in 2017. Finally came Bankman-Fried rival, Changpeng Zhao, the CEO of the massive Binance crypto exchange, who sold the company’s share in FTX within days of the CoinDesk reports. They include FTX co-founder Gary Wang, top FTX executive Ryan Salame, FTX head of engineering Nishad Sing, and Alameda Research CEO Caroline Ellison, who was also Bankman-Fried’s romantic partner.

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History of this topic

FTX's Gary Wang avoids prison after cooperating in crypto fraud case
1 month ago

FTX's Gary Wang avoids prison after cooperating in crypto fraud case

Salon  

Gary Wang, co-founder and chief technology officer of FTX, was sentenced to no time in prison on Wednesday, two years after the cryptocurrency firm collapsed and faced accusations of defrauding customers. Wang testified over several days last year at the trial of FTX founder Sam Bankman-Fried, who was convicted of fraud and conspiracy and sentenced to 25 years in prison. …

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 …

Former FTX Lieutenant Nishad Singh Gets Probation in Crypto Fraud Case
Top News
1 month, 3 weeks ago

Former FTX Lieutenant Nishad Singh Gets Probation in Crypto Fraud Case

Live Mint  

Former FTX Lieutenant Nishad Singh avoids prison time in the FTX case. Singh, one of the three top executives who turned on Bankman-Fried, pleaded guilty to a six count indictment, including fraud and campaign finance law violations, in the hope of receiving a lighter punishment. Singh spent a lot of time thinking about what he should have done differently and …

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

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing
3 months, 1 week ago

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing

Associated Press  

NEW YORK — Caroline Ellison, a former top executive in FTX founder Sam Bankman-Fried ’s collapsed cryptocurrency empire and his former girlfriend, is seeking no prison time at her sentencing later this month. The lawyers cited her immediate and extensive cooperation with U.S. authorities when FTX and related companies collapsed in November 2022, and they noted that the court’s Probation …

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing
3 months, 1 week ago

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing

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 Caroline Ellison, a former top …

Former FTX executive Ryan Salame sentenced to 7.5 years in US prison
6 months, 3 weeks ago

Former FTX executive Ryan Salame sentenced to 7.5 years in US prison

Al Jazeera  

Ryan Salame pled guilty to tens of millions of dollars in unlawful campaign donations to boost causes supported by his boss. Ryan Salame, the former co-CEO of FTX’s Bahamian subsidiary and a top lieutenant of the bankrupt cryptocurrency exchange’s founder, Sam Bankman-Fried, has been sentenced to 90 months in prison, United States federal prosecutors have said. Prosecutors say Salame, Bankman-Fried …

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 …

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

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

The Hindu  

Sam Bankman-Fried was sentenced to 25 years in prison by a judge on March 28 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 …

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 …

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 …

“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 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 …

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 …

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 …

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 …

Prosecutor takes aim at Sam Bankman-Fried’s credibility at trial of FTX founder
1 year, 1 month ago

Prosecutor takes aim at Sam Bankman-Fried’s credibility at trial of FTX founder

Associated Press  

NEW YORK — A prosecutor began cross-examining Sam Bankman-Fried at a New York City trial on Monday, attacking his credibility by highlighting public statements he made before and after the FTX cryptocurrency exchange he founded filed for bankruptcy late last year when it could no longer process billions of dollars in withdrawals. Assistant U.S. Attorney Danielle Sassoon confronted Bankman-Fried with …

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 …

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 …

FTX case: Sam Bankman-Fried to testify in fraud trial after onslaught from inner circle
1 year, 1 month ago

FTX case: Sam Bankman-Fried to testify in fraud trial after onslaught from inner circle

Live Mint  

Sam Bankman-Fried will take the stand to defend his actions in the lead-up to the collapse of his digital-asset empire, after taking a beating from former colleagues who described him as the mastermind of a years-long scheme to defraud FTX customers and investors. Bankman-Fried’s lawyers said on a conference call with the judge Wednesday that their client will testify at …

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 …

Sam Bankman-Fried's former colleague Nishad Singh takes stand at fraud trial
1 year, 2 months ago

Sam Bankman-Fried's former colleague Nishad Singh takes stand at fraud trial

The Hindu  

Sam Bankman-Fried's former colleague and fellow political donor Nishad Singh took the witness stand on Monday at the 31-year-old former billionaire's fraud trial, becoming the third former member of his inner circle to testify against him. He also said he was aware that Alameda Research, Bankman-Fried's crypto-focused hedge fund, was borrowing money from FTX customers without their knowledge, and that …

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 …

Caroline Ellison, saying Sam Bankman-Fried corrupted her values, found relief when truth came out
1 year, 2 months ago

Caroline Ellison, saying Sam Bankman-Fried corrupted her values, found relief when truth came out

Associated Press  

NEW YORK — Sam Bankman-Fried’s former top executive, testifying in Manhattan federal court Wednesday, blamed the FTX founder for corrupting her values so she could lie and steal and got emotional when describing the cryptocurrency empire’s final days, saying the collapse of his businesses resulted in a “relief that I didn’t have to lie anymore.” Caroline Ellison, who eventually was …

Star witness Caroline Ellison says FTX founder Sam Bankman-Fried hoped to be U.S. president someday
1 year, 2 months ago

Star witness Caroline Ellison says FTX founder Sam Bankman-Fried hoped to be U.S. president someday

The Hindu  

Caroline Ellison, the tech executive who ran Sam Bankman-Fried’s hedge fund while sometimes dating him, testified Tuesday that he directed her to commit crimes before his cryptocurrency empire collapsed last November. With Bankman-Fried watching from his courtroom seat, Ellison, 28, said at the New York City trial that she committed fraud, conspiracy to commit fraud and money laundering with Bankman-Fried …

Star witness Caroline Ellison says FTX founder Sam Bankman-Fried hoped to be US president someday
1 year, 2 months ago

Star witness Caroline Ellison says FTX founder Sam Bankman-Fried hoped to be US president someday

Associated Press  

NEW YORK — Caroline Ellison, the tech executive who ran Sam Bankman-Fried ’s hedge fund while sometimes dating him, testified Tuesday that he directed her to commit crimes before his cryptocurrency empire collapsed last November. With Bankman-Fried watching from his courtroom seat, Ellison, 28, said at the New York City trial that she committed fraud, conspiracy to commit fraud and …

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's trial is shown dozens of photos of the luxurious Bahamas penthouse where the FTX founder lived with eight other employees who each paid $15k a MONTH
1 year, 2 months ago

Sam Bankman-Fried's trial is shown dozens of photos of the luxurious Bahamas penthouse where the FTX founder lived with eight other employees who each paid $15k a MONTH

Daily Mail  

The FTX employees living there complained about the rent on the penthouse, which appeared to be $15,000 each, one employee testified Thursday Prosecutors have filed into evidence photos of the Bahamas penthouse Sam Bankman-Fried lived with eight of his friends who who helped build FTX Sam Bankman-Fried's luxurious Bahamas penthouse has been submitted into evidence in his fraud trial that …

Jury sees FTX ads with celebrities as fraud case is rolled out against Sam Bankman-Fried
1 year, 2 months ago

Jury sees FTX ads with celebrities as fraud case is rolled out against Sam Bankman-Fried

The Hindu  

Splashy Assistant U.S. Attorney Nathan Rehn said in his opening statement in Manhattan federal court that it was only a year ago that Bankman-Fried seemed to be “on top of the world,” operating the multibillion dollar company he founded, FTX, a seemingly pioneering cryptocurrency trading platform. Bankman-Fried became a target of investigators when FTX collapsed last November amid a rush …

Jury sees FTX ads with Tom Brady, Larry David, as fraud case is rolled out against Sam Bankman-Fried
1 year, 2 months ago

Jury sees FTX ads with Tom Brady, Larry David, as fraud case is rolled out against Sam Bankman-Fried

Associated Press  

NEW YORK — Splashy Assistant U.S. Attorney Nathan Rehn said in his opening statement in Manhattan federal court that it was only a year ago that Bankman-Fried seemed to be “on top of the world,” operating the multibillion dollar company he founded, FTX, a seemingly pioneering cryptocurrency trading platform. Bankman-Fried became a target of investigators when FTX collapsed last November …

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 …

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 …

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 …

Stanford says it will return all gifts from FTX following suit against Sam Bankman-Fried’s parents
1 year, 3 months ago

Stanford says it will return all gifts from FTX following suit against Sam Bankman-Fried’s parents

Associated Press  

NEW YORK — Following a lawsuit against FTX Trading founder Sam Bankman-Fried’s parents alleging that Stanford University received millions of dollars in donations from the now-collapsed cryptocurrency exchange, the school says it will return the funds of all gifts collected from FTX and related companies. Lawyers for FTX on Monday accused Allan Joseph Bankman and Barbara Fried of exploiting their …

Business Highlights: The UAW prepares to expand its strike, Sam Bankman-Fried’s parents are sued
1 year, 3 months ago

Business Highlights: The UAW prepares to expand its strike, Sam Bankman-Fried’s parents are sued

Associated Press  

___ United Auto Workers threaten to expand targeted strike if there is no substantive progress by Friday DETROIT — The United Auto Workers union is preparing to expand its strike against Detroit’s Big Three unless it sees progress in contract negotiations. — Lawyers for collapsed cryptocurrency exchange FTX Trading are accusing Sam Bankman-Fried’s parents of exploiting their influence over their …

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