Tag: FTX

SBF Planned to Blame Everyone Else but Himself for FTX Collapse, Leaked Documents Reveal

Disgraced FTX ex-CEO SBF was planning to blame everyone else except himself in a leaked testimony intended for a Congress hearing. Sam Bankman-Fried (SBF) reportedly planned to blame everyone, but himself, for FTX’s insolvency crisis and subsequent collapse. According to a leaked Congress testimony, the embattled former FTX CEO took aim at current CEO John Ray III, his legal counsel, the bankruptcy firm he appointed, and Binance CEO Changpeng Zhao. However, despite apportioning all-around blame, SBF did not admit any wrongdoing on his part. The disgraced former CEO’s planned testimony came to public knowledge amid his arrest in the Bahamas…

US Securities Watchdog Charges Sam Bankman-Fried With Fraud Over FTX Collapse – Bitcoin News

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According to a statement published on Dec. 13, 2022, the U.S. Securities and Exchange Commission (SEC) has charged the disgraced FTX co-founder Sam Bankman-Fried (SBF) with defrauding investors. SEC chairman Gary Gensler explained that the U.S. financial regulator alleges that SBF “built a house of cards on a foundation of deception.” U.S. SEC Contends Former FTX CEO SBF Committed Fraud, Crypto Firms Warned the ‘Sec’s Enforcement Division Is Ready to Take Action’ Following the arrest of the former FTX CEO Sam Bankman-Fried (SBF) in The Bahamas, the U.S. Securities and…

CFTC files lawsuit against Sam Bankman-Fried, FTX, and Alameda for fraud

The United States Commodity Futures Trading Commission, or CFTC, has filed a lawsuit against Sam Bankman-Fried, FTX and Alameda Research, claiming violations of the Commodity Exchange Act and demanding a jury trial. According to court records filed Dec. 13 in the Southern District of New York, the CFTC filed a complaint for injunctive and other equitable relief as well as civil monetary penalties against Bankman-Fried, FTX Trading, and Alameda Research. The complaint alleged that SBF personally directed FTC executives to set up features allowing Alameda to use the crypto exchange…

Citi Downgrades Robinhood, Says FTX Fallout Will Weigh on Crypto Trading Revenue

The collapse of FTX and the resulting fallout has a number of potential implications for Robinhood, the report said. These include the potential liquidation of 56.3 million shares owned by FTX founder Sam Bankman-Fried, the removal of FTX as a potential acquirer, and lower crypto trading revenue due to the “substantial price declines and material deterioration in investor confidence. Source

Bahamas reportedly asked SBF to mint new coin after FTX collapse

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The Bahamas government reportedly worked with former FTX CEO Sam Bankman-Fried to issue a new cryptocurrency controlled by local officials. Following the FTX collapse in November, Bahamas government officials reportedly asked Bankman-Fried to mint new digital assets worth “hundreds of millions of dollars,” lawyers for FTX said in a court filing, Bloomberg reported on Dec. 12. The authorities also reportedly asked the former FTX CEO to transfer the new tokens to the control of island officials. The report also suggests that Bahamas officials tried to help Bankman-Fried regain access to…

SEC charges former FTX CEO SBF for defrauding investors a day after his arrest

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The United States Securities and Exchange Commission (SEC) has filed charges against Sam Bankman-Fried, the former CEO of now-bankrupt crypto exchange FTX.  The SEC has charged Bankman-Fried with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC’s complaint seeks injunctions against future securities law violation that prohibits Bankman-Fried from participating in the issuance, purchase, offer, or sale of any securities except for his own personal account. Related: SBF planned to blame everyone but himself, shows leaked Congress testimony SEC charged Bankman-Fried…