FTX debtors have disclosed a series of financial statements that show top executives used company funds to their own advantage shortly before the cryptocurrency exchange collapsed. In a recent court filing with the United States Bankruptcy Court for the District of Delaware, FTX debtors shed light on payments and property transfers directly benefiting senior executives at FTX and…
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Online broker Robinhood is going to buy back the stake purchased by a company of crypto exchange FTX founder Sam Bankman-Fried (SBF). The fintech intends to pay $605.7 million for the shares that were transferred to the custody of the U.S. government after the bankruptcy of SBF’s businesses. Robinhood to Proceed With Planned Buyback of…
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Sam Bankman-Fried’s potential expert witnesses could charge more than the U.S. prosecution witnesses, according to court filings. As the start date of the trial of FTX co-founder Sam “SBF” Bankman-Fried approaches, new court filings indicate that SBF could pay his expert witnesses more than $1,000 an hour should they testify on his behalf. SBF may call…
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The purchase of the 55 million Robinhood shares had been expected following approval from the company’s board and a U.S. district court. Cryptocurrency and stock trading platform Robinhood has announced the purchase of more than 55 million shares of the firm previously held by former FTX CEO Sam Bankman-Fried, also known as SBF. According to…
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A judge has denied a request by defense lawyers to release disgraced former FTX CEO Sam Bankman-Fried from jail to help him prepare for the upcoming court case. At a hearing on Wednesday, Bankman-Fried’s lawyers urged for his release, emphasizing the need to utilize his time more efficiently in preparing his defense…. Read More: Sam…
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The FTX bankruptcy claims agent reportedly confirmed that users’ personal data were leaked, contrary to earlier claims. It appears that a data breach involving FTX bankruptcy claims agent Kroll has resulted in the leak of sensitive information, contrary to earlier reports. In an alleged Kroll Q&A summary published on Aug. 30, FTX users’ email addresses,…
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The U.S. Department of Justice has issued a new court filing in its case against Sam Bankman-Fried in which it calls his planned defense “irrelevant” without additional details. The lawyers representing the United States Department of Justice (DOJ) filed a new court document on Aug. 29 arguing that Sam “SBF” Bankman-Fried should provide additional disclosures to…
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Sam Bankman-Fried’s legal team claimed last week that the FTX founder received assurances from lawyers his actions were lawful. However, federal prosecutors are now contesting the validity of Bankman-Fried’s defense strategy ahead of trial. Bankman-Fried’s Legal Defense in Question After DOJ Objection In a court filing published Tuesday, federal prosecutors questioned Bankman-Fried’s ability to rely…
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The US Department of Justice has asked a court to reject Sam Bankman-Fried’s planned defense to blame a law firm for the FTX fraud. In a Tuesday legal filing, the DOJ said Bankman-Fried’s defense, which argues that the disgraced crypto boss acted on the advice of previous counsel in regard to his alleged actions at FTX and Alameda Research,…
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The U.S. Department of Justice filed a motion on Monday seeking to bar all seven of Sam Bankman-Fried’s proposed expert witnesses from testifying in the former FTX CEO’s upcoming fraud trial. Federal prosecutors cited issues with the witnesses’ reliability and accused them of improperly offering opinions on Bankman-Fried’s state of mind. DOJ Seeks to Bar…
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