Adam Yedidia, a former developer at FTX, testified regarding his knowledge of the crypto exchange’s use of funds, claiming “Alameda had used customer deposits to pay its loans.” On the third day of the criminal trial for Sam “SBF” Bankman-Fried, the former CEO’s roommate at MIT and FTX developer Adam Yedidia testified about the $8-billion…
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London-based cocoa broker Marc-Antoine Julliard responded to questions from prosecutors on crypto he held on FTX in November 2022. The prosecuting attorneys in the criminal case against former FTX CEO Sam Bankman-Fried, also known as SBF, have started to call witnesses. According to an Oct. 4 X (formerly Twitter) thread by Inner City Press, the…
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According to reports from the courthouse, Assistant U.S. Attorney Danielle Sassoon named Caroline Ellison, Gary Wang and Nishad Singh among those who may offer testimony. Many former executives with cryptocurrency exchange FTX or its sister companies are on the list to testify in the United States Justice Department’s criminal case against Sam “SBF” Bankman-Fried. During…
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According to Deputy Treasury Secretary Wally Adeyemo, the sanctioned wallets “received millions of USD funds over hundreds of deposits” used for illicit drugs. The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury has sanctioned crypto wallets allegedly connected to individuals and companies involved in the production of fentanyl. In…
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The former FTX CEO was reportedly invited by Vogue editor-in-chief Anna Wintour to be her special guest at the Met Gala, only to cancel at the last minute. Michael Lewis, author of The Big Short, has painted an interesting picture of Sam Bankman-Fried (SBF) in his soon-to-be released book on the former FTX CEO. In…
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Judge Lewis Kaplan left the door open for SBF’s defense team to call some of the precluded witnesses in response to testimony presented by the government. A federal judge has sided with the United States Department of Justice in motions aimed at precluding the testimony of 7 witnesses on behalf of former FTX CEO Sam…
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The former FTX CEO will remain in jail following three judges with the 2nd U.S. Circuit Court of Appeals calling the arguments behind a motion for release “unpersuasive”. A three-judge panel from the United States Court of Appeals for the Second Circuit has denied a motion for early release for former FTX CEO Sam Bankman-Fried,…
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A panel of three judges at the 2nd U.S. Circuit Court of Appeals in New York reportedly will consider requests from Sam Bankman-Fried’s lawyers for early release from jail. A three-judge panel from the United States Court of Appeals for the Second Circuit has reportedly taken arguments from lawyers representing former FTX CEO Sam Bankman-Fried (SBF)…
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During the bill’s review phase, the House of Lords agreed on certain amendments to clarify its intent of targeting monetary proceeds from fraud or other financial crimes. A bill that aims to expand the ability of authorities in the United Kindom to target illicit cryptocurrency usage has been pushed to the final stages for approval…
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According to the Korea Customs Service report, the value of unlawful foreign exchange transactions made using digital currency was estimated to be worth $4 billion last year. South Korean regulators have turned their focus to over-the-counter (OTC) crypto trades amid growing concerns about their use for criminal activities. The financial regulators in the country are…
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