The fallen founder of FTX, Sam Bankman-Fried (SBF), broke his silence for the first time since being sentenced to 24.25 years in prison, engaging in an email conversation with ABC News. SBF expressed that he is “haunted” daily by the events that transpired, emphasizing his stance that he “never intended to hurt anyone.” Former FTX…
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FTX has challenged the potentially fatal tax claims levied by the IRS last month for $24 billion. Image by Michael O’Keene, Adobe Stock. According to a November 30 filing by FTX debtors, the IRS tax claims of $24 billion filed in early November are “completely unsubstantiated” and FTX has now requested that the claims be…
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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…
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A 75-minute recording obtained by Cointelegraph shows the exact moment former Alameda Research CEO Caroline Ellison told employees about their use of FTX customer deposits. A 75-minute secretly recorded audio clip of Caroline Ellison has revealed the exact moment 15 former Alameda Research staff found out the hedge fund was “borrowing” user funds from FTX. …
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Prosecutors in the ongoing Sam Bankman-Fried’s trial have requested the judge to prevent the defendant from presenting the current value of FTX’s $500 million investment in Anthropic, a startup artificial intelligence company. The government alleges that SBF used funds stolen from FTX customers to invest approximately $500 million in Anthropic back in April 2022…. Read…
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FTX’s so-called “Backstop Fund” figure was a big lie, according to the crypto exchange’s former chief technology officer. Crypto exchange FTX used hidden Python code to misrepresent the value of its insurance fund — a pool of funds meant to prevent user losses during huge liquidation events — according to testimony from FTX co-founder Gary…
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Matt Huang said he was led to believe that Alameda Research was not being provided any special treatment by FTX. Sam “SBF” Bankman-Fried was “very resistant” to having investors join the board of directors at FTX, claims Matthew Huang, co-founder and managing partner of crypto investment firm Paradigm. Paradigm and a number of venture capital…
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Sam Bankman-Fried, the former CEO of FTX, is set to face trial in federal court in Manhattan, starting with jury selection today. The 31-year-old is accused of being the architect behind one of the largest financial crimes in U.S. history, following the bankruptcy of his crypto platform FTX. The trial comes less than a year…
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Former FTX CEO Sam Bankman-Fried will remain in jail throughout his trial utnil mid-November after the District Judge Lewis Kaplan denied his temporary release to prepare for the trial. The trial, scheduled to run from October 4th until November 9th, comes after Judge Kaplan denied a motion for Bankman-Fried’s temporary release during a hearing on…
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“I think he’ll get the maximum sentence” — one lawyer predicts the former FTX CEO could look at life behind bars if convicted of all seven charges. FTX founder Sam “SBF” Bankman-Fried, once described as the “golden boy” of crypto, is set to stare down a jury next week for his role in the collapse…
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