Tag: FTX

US Government Seizes Robinhood Shares Linked to FTX Founder Sam Bankman-Fried – Regulation Bitcoin News

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The U.S. Department of Justice (DOJ) is in the process of seizing Robinhood shares, worth about $460 million, that are linked to former FTX CEO Sam Bankman-Fried (SBF). “We believe that these assets are not property of the bankruptcy estate or that they fall within the exceptions … of bankruptcy code,” a DOJ attorney told the judge overseeing the FTX bankruptcy case. DOJ Seizing Robinhood Shares Linked to FTX The U.S. government is in the process of seizing 56 million shares of Robinhood Markets Inc. (Nasdaq: HOOD), worth about $460…

Anyone Who Took Money From FTX Ought to Repay It

This is of course complicated by the fact that much of the capital has already been spent – like at Vox’s Future Perfect project, a recipient of funds from Sam and his brother Gabriel’s nonprofit Building a Stronger Future. Unlike, say, The Block’s former CEO Mike McCaffrey, who was essentially bribed with “loans” to fund the outfit and buy real estate, Vox cannot just liquidate an ill-gotten Bahamian apartment. Future Perfect’s reporting was paid for and published (and a lot of it is great). The project is on pause, but…

Unreported Transactions Linked to Disgraced FTX Co-Founder Revealed by Onchain Investigation – Bitcoin News

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According to onchain research, wallets connected to Sam Bankman-Fried, the disgraced co-founder of FTX, transferred a significant number of previously unreported transactions across various blockchains. The transfers were discovered by Conor Grogan, a director at Coinbase, and while most of the transactions took place on Dec. 28, there was some recent activity in the first few days of the new year. Onchain Discoveries Uncover Suspected Unreported Transactions Associated With SBF, FTX, and Alameda Roughly a week ago on Dec. 28, 2022, onchain investigators discovered that a number of funds linked…

US authorities are seizing $460M in Robinhood shares tied to FTX: Report

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The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as part of the case against the crypto exchange. According to a Jan. 4 report from Reuters, U.S. officials told a judge they were in the process of seizing assets tied to FTX and its former CEO Sam Bankman-Fried, which included 56 million shares of Robinhood — worth roughly $468 million at the time of publication. The report followed a judge in the…

US Congress investigations into FTX are in limbo without a House Speaker

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At the time of publication, the United States House of Representatives was at a historic standstill in its process of choosing a Speaker for the 118th Congress — a quagmire that could lead to lawmakers delaying committee hearings. As of Jan. 4, California Representative Kevin McCarthy lost the fifth round of votes to become the next Speaker of the House following Republicans taking majority control of the chamber in the 2022 midterm elections. This marked a rare occurrence — only 15 times in the entire history of Congress since 1789…

Indicted FTX Co-Founder Sam Bankman-Fried Discussed ‘Pandemic Prevention’ With Biden Administration Officials – Bitcoin News

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According to public filings, former crypto billionaire and FTX co-founder Sam Bankman-Fried met with senior Biden administration officials before he was indicted for financial fraud. When asked about the visits, White House press secretary Karine Jean-Pierre told the press the meetings involved discussions about “pandemic prevention.” Senior White House Staff Met With Former Billionaire Sam Bankman-Fried to Discuss ‘Crypto Industry’ and ‘Pandemic Prevention’ The disgraced FTX co-founder Sam Bankman-Fried (SBF), who is currently charged with eight counts of financial fraud and misconduct, met with the senior White House adviser Steve…

TradFi Fights for Tougher Crypto Rulebook in Wake of FTX Collapse

According to the World Federation of Exchanges, whose members include Nasdaq, the Intercontinental Exchange and the London Stock Exchange Group, the FSB should even “strengthen its stance in requiring separation of activities,” ensuring the same standards apply as would for TradFi players, when crypto companies simultaneously operate platforms, execute trades, and hold or issue cryptocurrency. Source

Former FTX CEO Sam Bankman-Fried Pleads Not Guilty to Criminal Charges, Bond Signees’ Names Remain Sealed  – Bitcoin News

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On Jan. 3, 2023, the former FTX CEO Sam Bankman-Fried (SBF) pleaded not guilty to eight criminal charges that involve two counts of wire fraud and six counts of conspiracy. In addition to the not guilty plea, SBF’s judge Lewis Kaplan granted the defendant’s request to keep the names of his $250 million bond signees redacted. Sam Bankman-Fried Pleads Not Guilty to Criminal Charges and Fights to Keep Bond Signees Anonymous in Court Disgraced FTX co-founder Sam Bankman-Fried (SBF) said he’s not guilty of the eight charges against him when…

US Feds put together ‘FTX task force’ to trace stolen user funds

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The United States Attorney’s Office for the Southern District of New York (SDNY) has formed an FTX Task Force to “trace and recover” missing customer funds, as well as handle investigations and prosecutions related to the exchange’s collapse.  The announcement came via a statement from U.S. Attorney Damian Williams who is the federal prosecutor in the FTX case involving founder Sam Bankman-Fried. Charges from the Manhattan attorney’s office against Bankman-Fried include wire and securities fraud, conspiracy to commit wire and securities fraud, money laundering and violation of campaign finance laws.…