The former billionaire paid four “macks” for a haircut before his trial while staying at the Brooklyn Metropolitan Detention Center. The crypto trading days of former FTX CEO Sam Bankman-Fried are over, and the recently convicted founder has found a new thing to trade while in jail — fish. The Wall Street Journal reported on…
Read more
Source: AdobeStock / Rafael Henrique Ross Rheingans-Yoo, an employee of FTX Foundation has filed a response to FTX’s claim regarding his unpaid salaries and bonuses totaling $275,000. In a Nov 13 court filing, the foundation staff argued that he was entitled to $650,000 but was only paid $375,000 leaving an unpaid balance of $275,000 from…
Read more
Sam Bankman-Fried was convicted on all charges in the Department of Justice’s fraud case against the ex-FTX chief, but his legal woes are far from over. He is also under pressure from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), which have slammed him with accusations of both securities…
Read more
The November 2022 Alameda gap exposed vulnerabilities in the crypto market, shedding light on FTX and Alameda Research’s fraud. FTX collapse: Unraveling the cryptocurrency crisis of November 2022 In November 2022, the cryptocurrency world was rocked by the collapse of FTX, one of the largest cryptocurrency exchanges. The collapse was triggered by a liquidity crisis…
Read more
The U.S. Securities and Exchange Commission’s former head of internet enforcement says the conviction of ex-FTX CEO Sam Bankman-Fried (SBF) is “just the tip of the iceberg” for the entire crypto industry. “People should not think that it’s safe to go back in the water … It’s a mammoth House of Cards,” he stressed, asserting…
Read more
A jury has unanimously convicted Sam Bankman-Fried on a slew of charges, encompassing wire fraud, conspiracy to engage in wire fraud, and money laundering among the seven counts. The following is an in-depth look at what will happen between now and Bankman-Fried’s sentencing, which is scheduled for March 28, 2024. Before the Gavel — What…
Read more
The former FTX CEO is headed back to prison and awaits a potential second trial in March, while his lawyers pledged to “continue to vigorously fight the charges against him.” Sam Bankman-Fried is back in his federal prison cell in Brooklyn after being found guilty for all seven charges in his criminal trial. His lawyers…
Read more
U.S. Attorney Damian Williams called Bankman-Fried’s crimes “a multibillion-dollar scheme designed to make him the king of crypto” and one of the biggest financial frauds in American history. Former FTX CEO Sam Bankman-Fried was found guilty of all seven charges by a jury in his criminal trial in New York after about four hours of…
Read more
Sam Bankman-Fried, the disgraced former CEO of FTX, has been convicted on all seven charges, including wire fraud, securities fraud, commodities fraud, and money laundering. The jury reached a verdict at around 7:45 p.m. (ET) on Thursday evening according to an account shared by Matthew Russell Lee from the Inner City Press. Bankman-Fried Convicted on…
Read more
Sam Bankman-Fried’s lawyer Mark Cohen gave a final argument Wednesday, portraying the FTX founder as someone who “did his best” and made mistakes but did not commit crimes. Bankman-Fried’s Lawyer: ‘Mistakes Are Not a Crime’ Sam Bankman-Fried‘s attorney, Mark Cohen, is well-known for representing convicted sex offender Ghislaine Maxwell. This year, he is defending the…
Read more
