Venture capital giant Sequoia Capital has slashed the size of its cryptocurrency fund by over 65%, reducing it from $585 million to $200 million, Wall Street Journal reported citing sources familiar with the matter. The venture capital giant has also made corresponding cuts to its ecosystem fund, reducing it by half from $900 million to…
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Sam Bankman-Fried, the founder of now-defunct cryptocurrency exchange FTX, is facing tightened bail conditions and the possibility of jail time as he awaits trial over the collapse of his exchange. At a recent hearing, US District Judge Lewis Kaplan imposed a “gag order” on Bankman-Fried, restricting his ability to communicate publicly, Reuters reported Thursday. … Read More: FTX Founder Sam…
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In a court filing released Wednesday, the U.S. Department of Justice dropped campaign finance charges against disgraced FTX co-founder Sam Bankman-Fried. Prosecutors said the charges were dropped in accordance with U.S. treaty obligations to the Bahamas. Sam Bankman-Fried Cleared of Campaign Finance Charges Campaign finance charges against Sam Bankman-Fried, co-founder and former CEO of FTX,…
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U.S. prosecutors have asked a federal judge to put crypto exchange FTX founder Sam Bankman-Fried in jail over alleged witness tampering before his trial starts in October. While requiring the prosecution to formalize the request and giving the defense enough time to make its case, the judge issued a temporary gag order restricting their public…
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The FTX co-founder may be able to face one less charge relating to actions surrounding his alleged mismanagement of the cryptocurrency exchange. United States prosecutors are expected to drop one of the charges against FTX co-founder Sam Bankman-Fried, which had alleged he conspired to make unlawful campaign contributions. In a July 26 letter to District…
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Assistant U.S. Attorney Danielle Sassoon reportedly said SBF made roughly 100 calls to a reporter behind The New York Times story that revealed Caroline Ellison’s private journals. A federal judge overseeing the criminal case against Sam Bankman-Fried, also known as “SBF,” will reportedly consider revoking the former FTX CEO’s $250 million bail based on allegations…
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Recent court revelations surrounding Sam Bankman-Fried’s family have exposed a web of deceit. One such revelation concerned Samuel Bankman, Bankman-Fried’s father, who has been using the $10 million gifted to him by his son, which was allegedly looted from FTX customers, to pay for his legal defense. Moreover, it was revealed that he squandered at least a…
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A newly filed lawsuit has alleged that the FTX Foundation planned to use the island nation of Nauru as a safe refuge for effective altruists for “some event where 50% – 99.99% of people die.” According to the lawsuit, filed by FTX’s current management, the plan to use the island as a giant doomsday bunker…
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Crypto exchange FTX is trying to regain $1 billion in a lawsuit against founder Sam Bankman-Fried (SBF) and some former executives. FTX’s new management argues the funds were misappropriated through dubious deals and transactions made before the coin trading platform went bankrupt last fall. Failed Crypto Firm FTX Files New Lawsuit Against Founders and Chiefs…
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According to court documents, Gabriel Bankman-Fried wrote a memo to the FTX Foundation with a plan to build a bunker to survive “some event where 50%-99.99% of people die.” Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried, had a plan to survive a global catastrophe using funds from the now-defunct cryptocurrency exchange. According…
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