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On Tuesday, the former CEO of FTX, Sam Bankman-Fried (SBF), appeared in court with his newly appointed lawyer Mark Cohen, and his legal team asked the Bahamian judge Joyann Ferguson-Pratt to release SBF on bail with an ankle bracelet. Amid the lengthy court hearing reports detail that SBF’s parents Joseph Bankman and Barbara Fried attended … Read more
CFTC court filing outlines a murky relationship between FTX and Alameda Research, highlighting the latter’s unfair trading advantage and misappropriation of user funds. Go to Source Powered by WPeMatico
Bahamian regulators said that they were the first to take action against SBF, and recent actions of the current CEO hindered their investigation. Go to Source Powered by WPeMatico
On Dec. 13, 2022, the Southern District of New York (SDNY) prosecutor’s office and SDNY attorney Damian Williams revealed that the FTX co-founder Sam Bankman-Fried has been indicted for “fraud, money Laundering, and campaign finance offenses.” SDNY attorney Williams said that the case was not an issue of “mismanagement or poor oversight” but of “intentional … Read more
On Dec. 13, 2022, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Sam Bankman-Fried (SBF), FTX Trading LTD., and Alameda Research. The CFTC alleges that FTX customer deposits, “throughout the relevant period,” including both fiat currencies and cryptocurrencies, were reportedly “appropriated by Alameda for its own use.” U.S. Commodity Futures Trading Commission: … Read more
According to a statement published on Dec. 13, 2022, the U.S. Securities and Exchange Commission (SEC) has charged the disgraced FTX co-founder Sam Bankman-Fried (SBF) with defrauding investors. SEC chairman Gary Gensler explained that the U.S. financial regulator alleges that SBF “built a house of cards on a foundation of deception.” U.S. SEC Contends Former … Read more
According to the federal regulator, SBF and FTX companies “used FTX customer funds for a variety of personal expenditures” including real estate and private jets. Go to Source Powered by WPeMatico
The DAO was initially served with a lawsuit via a help chat box but a federal judge said the regulator “should serve at least one identifiable Token Holder.” Go to Source Powered by WPeMatico
The chairman of the Commodity Futures Trading Commission (CFTC) has revealed that he and his team met with Sam Bankman-Fried and other FTX executives 10 times before the crypto exchange filed for bankruptcy. The regulator sees the FTX collapse as “a classic run based on liquidity crunch.” CFTC’s Meetings With FTX and Sam Bankman-Fried The … Read more
CFTC chair Rostin Behnam appeared before a Senate Agriculture Committee to talk about how FTX happened and how it could have been prevented. Go to Source Powered by WPeMatico
