The former CEO of crypto exchange FTX also reportedly explored paying off Donald Trump from running for U.S. president again. Former FTX CEO Sam “SBF” Bankman-Fried had ambitions to become president of the United States, according to his former girlfriend and business associate Caroline Ellison. Appearing in court on Oct. 10 to testify against Bankman-Fried,…
Read more
Attorneys defending ex-FTX chief Sam Bankman-Fried are keen to interrogate the former CTO of the now-dissolved exchange concerning personal loans ranging from $200-300 million, a fresh letter from Cohen & Gresser LLP reveals. Former CTO Gary Wang is set to return to the stand on Tuesday, with reports suggesting that ex-Alameda Research CEO Caroline Ellison…
Read more
As the trial of Sam Bankman-Fried enters its second week, his lawyers are seeking to question FTX co-founder Gary Wang about his reliance on legal advice regarding loans from Alameda Research. In a legal filing made late Monday night, Bankman-Fried’s defense team requested permission from the judge to explore Wang’s understanding of these loans, which were used for venture investments and personal expenses,…
Read more
Cardano’s founder Charles Hoskinson has compared the embattled co-founder of FTX to infamous ponzi scheme boss, Bernie Madoff. In a post on X (formerly Twitter), Hoskinson stated that Sam Bankman-Fried’s actions can be likened to Bernie Madoff but the former is now getting a free pass by the media…. Read More: Cardano’s Hoskinson Likens Sam…
Read more
In a dramatic turn of events during the collapse of crypto exchange FTX last November, a heroic act by an adviser played a pivotal role in preventing what could have been one of the largest crypto heists in history. According to a Wired report from Monday, Kumanan Ramanathan, an adviser to FTX from consulting firm…
Read more
Binance-initiated IRI fund has only spent some 2.7% of the total of $1.1 billion committed to saving crypto in the aftermath of the FTX collapse, and has still not explained which entities benefited. Binance-spearheaded Industry Recovery Initiative (IRI), a co-investment project aiming to support the cryptocurrency industry in the aftermath of the FTX collapse, may…
Read more
Sam Bankman-Fried’s legal team is seeking permission to cross-examine Gary Wang over FTX lawyers’ involvement in Alameda loan approvals. Sam Bankman-Fried’s legal team is looking for permission to probe the alleged involvement of FTX lawyers in the issuance of $200 million worth of loans from Alameda that were approved by Gary Wang. As previously reported…
Read more
Amidst widespread media coverage highlighting Anthropic, the startup behind the generative artificial intelligence (AI) chatbot Claude and its pending multi-billion-dollar infusion, federal prosecutors overseeing the Sam Bankman-Fried case are pushing to sideline this subject during the trial. Thane Rehn, the assistant U.S. attorney, strongly asserted that it’s “immaterial whether some of those investments might ultimately…
Read more
Former FTX CEO Sam “SBF” Bankman-Fried has been on trial since Oct. 3, but his legal counsel has yet to present a compelling narrative to support his defense. Former FTX CEO Sam “SBF” Bankman-Fried has been on trial since Oct. 3 in a federal court in New York, accused of seven counts of fraud and…
Read more
Prosecutors are seeking to prevent Sam Bankman-Fried from mentioning AI startup Anthropic during the proceedings. The move comes in response to media reports of Anthropic securing billions in fundraising from Google, shortly after announcing a similar investment from Amazon. The news has generated optimism among FTX creditors, who anticipate a significant financial recovery due to Bankman-Fried’s investment in Anthropic…. Read More: Prosecutors…
Read more
