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Sam Bankman-Fried (SBF), the former FTX co-founder, allegedly paid $40 million in bribes to at least one Chinese government official. SBF wanted to unfreeze accounts According to allegations by federal prosecutors, SBF allegedly paid tens of millions of dollars worth of bribes to at least one Chinese government official.…
Sam Bankman-Fried (SBF), the former CEO of FTX, now faces a 13-count indictment as U.S. officials have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government officials.” Details of the Bribery Charges Against Sam Bankman-Fried Sam Bankman-Fried…
Key Takeaways Sam Bankman-Fried allegedly bribed Chinese officials to unfreeze Alameda funds on Chinese crypto exchanges. Prosecutors claim he transferred at least $40 million to unblock funds. Bankman-Fried is already being charged with twelve other counts. Share this article URL Copied U.S. prosecutors believe that Sam Bankman-Fried resorted to…
The legal saga surrounding FTX founder Sam Bankman-Fried continues as new developments arise in his case. On March 27, Bankman-Fried’s lawyers reportedly reached a new bail agreement with US prosecutors that would allow him to remain at home while restricting his use of electronic devices and apps. The proposed…
FTX founder, Sam Bankman-Fried, has agreed to new bail conditions with US prosecutors that will limit his access to technology, according to court documents filed on March 28. The proposed conditions were submitted for approval to District Judge Lewis Kaplan of the Southern District of New York. Under the…
The founder of the cryptocurrency exchange FTX, Sam Bankman-Fried, is facing a new 13-count indictment, including charges of bribery related to an alleged $40 million bribe to a Chinese government official. The charges stem from a court filing by United States attorney Damian Williams, which alleges that Bankman-Fried and…
FTX cryptocurrency exchange founder and former CEO Sam Bankman-Fried, or “SBF,” is facing a new 13-count indictment from authorities in the United States. According to a court filing by United States attorney Damian Williams, one of the new SBF’s charges includes an alleged $40million bribe to a Chinese government…
In a recent court filing, FTX founder Sam Bankman-Fried has been accused of bribing $40 million to Chinese officials to unfreeze crypto accounts. As the cryptocurrency industry continues to grow and evolve, so too do the challenges and controversies that surround it. One such controversy involves Sam Bankman-Fried (SBF),…
The story of FTX founder Sam Bankman-Fried continues to unfold as lawyers and the court continue to argue about SBF’s bail conditions. SBF lawyers have reportedly reached a new bail agreement with the United States prosecutors, allowing him to stay at home while restricting the use of some electronic…
People familiar with the matter have revealed that some of the executives at the bankrupt crypto lender Genesis Global Capital have received discounts on FTX’s native token, FTT, and serum (SRM), which was also launched with the help of the collapsed exchange and its hedge fund, Alameda Research. According…
It looks like the crypto contributions made to politicians by Sam Bankman-Fried – the former founder and chief executive of digital currency exchange FTX – are coming back to haunt him. Four new criminal charges have been filed against him, some of which stem from the political contributions he…
The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. UBS’ decision to acquire its rival, Credit Suisse, has, of course, shaken up the financial industry once again. It comes a week after the collapse of Silicon…
Nasdaq intends to launch its custody services for digital assets like bitcoin by the end of this year’s second quarter. The exchange operator is among those traditional financial firms that want to play a role as intermediaries in the crypto sector which saw the collapse of some major players.…
Former U.S. National Football League (NFL) quarterback Tom Brady’s estranged wife Gisele Bundchen has said she was “blindsided” by the collapse of crypto exchange FTX. Bundchen claimed that she only invested in FTX because her financial advisors recommended it. Bundchen and Brady’s Shareholding in FTX Gisele Bundchen, a fashion…
A market analyst, Conor Ryder, CFA, recently explored the liquidity state of the crypto markets. Parameters like market depth, spreads, slippage, and volumes helped expose the liquidity problem. Post-FTX-implosion liquidity gap not resolved Under market depth, the analyst realized that BTC pairs are currently at the lowest level of…
The debtors for defunct crypto exchange FTX have approved an agreement that would sell its preferred stock in Mysten Labs, the company behind the Sui blockchain. In a March 22 filing in United States Bankruptcy Court in the District of Delaware, FTX debtors proposed a deal in which Mysten…
Canada is cracking down on crypto trading and tightening its rules due to the FTX financial collapse. The country is allegedly trying to do all it can to protect investors and ensure nothing like the exchange’s debacle can affect people within its borders. Canada Is Fighting Potential Crypto Loopholes…
No doubt the FTX debacle and the arrest of its founder and chief executive Sam Bankman-Fried will go down as some of the biggest problems to ever strike the crypto space, but according to a new report, it appears the damage caused by FTX and its irresponsible (and selfish)…
A crypto trader with an address dubbed Smartestmoney has deposited 7,868 ETH tokens (roughly $14 million) on Binance. They also withdrew $19 million from FTX before its collapse last year. Blockchain analytics platform Lookonchain has revealed that a crypto trader that bills with an address named smartestmoney.eth moved $14…
Class action lawyers argue that Ben Armstrong, who stands behind BitBoy Crypto YouTube, often threatened them because they were suing them for advertising the fallen FTX cryptocurrency exchange. After being identified as a defendant in a class action lawsuit, Ben Armstrong began harassing the attorneys representing the plaintiffs, according to…
Lawyers representing a class-action lawsuit against “BitBoy Crypto” YouTuber Ben Armstrong and other crypto influencers for allegedly promoting crypto exchange FTX claimed Armstrong has made multiple threats against them. A March 20 court filing by the class action’s lawyers in a Florida District Court claimed Armstrong “began harassing” the…
Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur. Virtual Asset…
In March 2023, legal teams representing FTX US and Alameda Research filed a complaint against FTX Digital Markets, a Bahamas-based company, alleging that it was a fraudulent enterprise used to obscure the question of the firm’s ownership. The complaint was filed with the United States Bankruptcy Court for the…
The legal teams representing Alameda Research, FTX US, and FTX Trading have filed a complaint against the Bahamas-based FTX Digital Markets, claiming the company was a “fraudulent enterprise” used as a shell entity to obfuscate the question of the firm’s ownership. In a March 19 filing with the United…
Crypto exchange FTX has filed a lawsuit against the liquidators of its Bahamian affiliate, FTX Bahamas Ltd, claiming that they have wrongfully taken control of millions of dollars worth of digital assets, including bitcoin (BTC) and ethereum (ETH). According to Reuters, the lawsuit was filed in the US court…
FTX was one of the most important cryptocurrency exchanges prior to its failure, which coincided with the creator and CEO, Sam Bankman-Fried, resigning from his position. The platform’s image, on the other hand, was damaged by charges of the theft of cash belonging to its users. Despite this, it…
Before crypto exchange FTX and its founder Sam Bankman-Fried (SBF) got tied down around allegations of misappropriation of users’ funds, SBF was among the most influential crypto entrepreneurs. Long before FTX collapsed, an allegedly leaked email exchange with a top regulator shows SBF’s intent to get the exchange federally…
FTX, the cryptocurrency exchange founded by Sam Bankman-Fried, filed for Chapter 11 bankruptcy protection in November 2022 following allegations of fraudulent activities. In a recent filing with the United States Bankruptcy Court for the District of Delaware, FTX debtors reported more than $4 billion in scheduled assets across various…
FTX, the defunct crypto exchange, had a $6.8b hole in its balance sheet when it declared bankruptcy last year. According to the group’s advisors, FTX’s debt includes a $10.6b deficit for the main FTX.com business and an $87m short for FTX.U.S. Alameda Research, the trading wing of FTX, had…
According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims…
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