Tag: FTX

SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’ – Bitcoin News

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On Tuesday, the former CEO of FTX, Sam Bankman-Fried (SBF), appeared in court with his newly appointed lawyer Mark Cohen, and his legal team asked the Bahamian judge Joyann Ferguson-Pratt to release SBF on bail with an ankle bracelet. Amid the lengthy court hearing reports detail that SBF’s parents Joseph Bankman and Barbara Fried attended the proceedings. Toward the end of the hearing, judge Ferguson-Pratt denied SBF’s request to be released on bail and remanded Bankman-Fried to the Bahamian jail until Feb. 8, 2023. Bankman-Fried’s Media Tour Comes to an…

If You Think Bitcoin Is the Only Crypto That Will Survive FTX, Tora Inu Might Shock You!

Place/Date: – December 14th, 2022 at 1:00 pm UTC · 4 min read Source: Tora Inu Photo: Tora Inu Bitcoin According to Jeff Booth, a proponent of Bitcoin and author of the book, The Price of Tomorrow, the demise of FTX and several other centralized finance platforms in 2022 confirms the theory that the majority of the crypto ecosystem will ultimately collapse due to its centralization with the exception of Bitcoin’s BTC. Booth thinks that centralized crypto platforms like FTX and Celsius have just mimicked the problems of the current…

Alameda had ‘unfair’ trading advantage, special access to FTX funds: CFTC filing

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Court filings continue to shed light on the dubious relationship between FTX and Alameda Research, in which the hedge fund was afforded an “unfair” trading advantage as well as unprecedented access to user holdings on the cryptocurrency exchange. The United States Commodities Futures Trading Commission filed a complaint in the Southern District Court in New York on Dec. 1, alleging a host of irregular business dealings between Sam Bankman-Fried’s cryptocurrency exchange FTX and his trading company Alameda Research. The complaint provides a raft of allegations detailing how the two companies and…

FTX Founder Sam Bankman-Fried Indicted on Eight Charges

Sam Bankman-Fried has been facing eight different charges and his punishment could total up to 115 years in prison. On Monday evening, December 12, the Bahamian authorities arrested FTX founder Sam Bankman-Fried as the US government filed for criminal indictment. A US grand jury has charged SBF with conspiring and committing wire fraud. The disgraced FTX founder has been facing eight separate charges from different US regulators. The eight-count indictment from the US Attorney’s Office for the Southern District of New York includes charges of money laundering and misusing customers’…

Silvergate Shares Slides 11%, FTX Exposure and Possible Testimony by SBF Makes SI Risky

Silvergate recently noted that its relation with FTX is limited to deposits and has no outstanding loans with FTX or Alameda. Silvergate Capital Corporation (NYSE: SI) continues to feel the effect of the 2022 cryptocurrency winter. Silvergate shares closed Tuesday’s market trading at $18.73, 11.90 percent down from the day’s opening price. Consequently, SI shares are down approximately 87 percent year-to-date, a similar decline recorded in the crypto market. Moreover, the company is heavily collateralized with crypto assets that institutional investors – including MicroStrategy – use to take fiat loans.…

Bahamian securities regulator slams new FTX CEO over ‘misstatements’

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The Securities Commission of Bahamas has slammed the current CEO of bankrupt crypto exchange FTX John J. Ray III for his statements regarding the ongoing investigation into FTX.  In a press release sent to Cointelegraph, the Bahaman regulator didn’t directly point toward the exact statements of the CEO, but addressed recent reports that suggest the Bahamas’ government asked former CEO Sam Bankman-Fried to create a new multi-million token and hand over the control to them. The said report also alleged Bahamas officials tried to help Bankman-Fried regain access to key…

FTX Co-Founder Indicted by Federal Grand Jury in Manhattan, Bahamian Magistrate Denies SBF’s Bail – Bitcoin News

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On Dec. 13, 2022, the Southern District of New York (SDNY) prosecutor’s office and SDNY attorney Damian Williams revealed that the FTX co-founder Sam Bankman-Fried has been indicted for “fraud, money Laundering, and campaign finance offenses.” SDNY attorney Williams said that the case was not an issue of “mismanagement or poor oversight” but of “intentional fraud, plain and simple.” SDNY Prosecutor’s Office and Attorney Williams Charge SBF With 8 Financial Crimes A federal grand jury in Manhattan unsealed an indictment on Dec. 13, 2022, tied to the disgraced former FTX…

CFTC Follows SEC by Filing a Lawsuit Against Disgraced FTX Co-Founder Sam Bankman-Fried – Bitcoin News

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On Dec. 13, 2022, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Sam Bankman-Fried (SBF), FTX Trading LTD., and Alameda Research. The CFTC alleges that FTX customer deposits, “throughout the relevant period,” including both fiat currencies and cryptocurrencies, were reportedly “appropriated by Alameda for its own use.” U.S. Commodity Futures Trading Commission: ‘FTX and Alameda Comingled, Mishandled, and Misappropriated FTX Trading Customer Funds’ From Day One The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit (Case 1:22-cv-10503) against SBF and his companies FTX and Alameda…

FTX Founder Sam Bankman-Fried Denied Bail in the Bahamas

Magistrate Judge Joyann Ferguson-Pratt ordered that there be an extradition hearing next year, on Feb. 8, 2023, at 10:00 a.m. ET. Bankman-Fried’s attorneys asked that he be released on a $250,000 bail, arguing he needed to be able to regularly take medication, including Zyrtec, an over-the-counter allergy medication, and keep to his vegan diet. Earlier in the day, police escorted Bankman-Fried’s parents to his home in Albany in the Bahamas to pick up Adderall, another medication. Source