Tag: FTX

Anthropic’s capital boost may secure full recovery for FTX customers

The recent surge in Anthropic’s valuation, following a new funding round, could spell financial recovery for FTX creditors. As artificial intelligence enterprise Anthropic recently securing additional investment, potentially elevating its worth to $30 billion, FTX customers may find reason to be optimistic. This development comes to light due to FTX founder Sam Bankman-Fried’s prior investment in the AI firm. Anthropic has successfully procured additional investment, with reports indicating that Google and undisclosed parties may be involved. Google, an existing investor with approximately a 10% share in the company as of…

FTX exploiter moves $36.8M in Ether as Sam Bankman-Fried’s trial starts

boss

The crypto wallet address linked to the FTX exploiter moved roughly $36.8 million worth of Ether (ETH) in the last 24 hours amid the ongoing court trials of the defunct crypto exchange’s ex-CEO, Sam Bankman-Fried (SBF). Accounts linked to FTX and FTX.US were drained of $600 million on Nov. 11, 2022, hours after the crypto exchange had filed for Chapter 11 bankruptcy. At the time, FTX general counsel Ryne Miller informed traders about the hack caused by malware: “FTX has been hacked. Chat is open. Please don’t go to the FTX site,…

FTX founder lied says prosecutors, defense blames Ellison and Bitcoin crash

boss

Federal prosecutors told jurors that Sam Bankman-Fried (SBF) lied to the world about FTX’s finances but confided in Ellison and his inner circle, while defense attorneys moved to shift the blame on Alameda’s former CEO and Bitcoin volatility during opening statements on trial day 2. On day 1 of the voir dire, eight prospective jurors cited the 60 Minutes interview with author Michael Lewis. A handful referenced Bernie Madoff and one juror’s company lost money to FTX/Alameda. 18 jurors -12 primary and 6 alternates, were assigned from a pool of…

12 people will decide the fate of former FTX CEO Sam Bankman-Fried

boss

A pregnant physician’s assistant, a train conductor and a retired investment banker are reportedly among the 12 individuals who will eventually decide on the fate of former FTX CEO Sam Bankman-Fried. As per a report from Cointelegraph’s on-the-ground reporter Ana Paula Pereira, the 12 jurors were narrowed down from a list of 45 on Oct. 4, the second day of trial in Manhattan. The potential jurors were each given a minute to introduce themselves by sharing their background, age, employment, education, relationship history and children. Pereira noted that one prospective…

FTX founder Sam Bankman-Fried’s trial day 2: Recap

FTX founder Sam Bankman-Fried’s criminal trial for fraud resumed at 10 a.m. New York time, as Federal Judge Lewis A. Kaplan moved to conclude jury selection and hear opening statements from attorneys on both sides. Senior District Judge Lewis A. Kaplan is presiding over the case, and Assistant U.S. Attorney Nicolas Roos is leading the prosecution. The defense is being led by Mark Cohen. Here are the latest live updates from inside the courtroom on day 2:  Judge Kaplan wrapped up initial juror picks around 11:20 a.m. ET, with 12…

Cocoa broker testifies to Bitcoin holdings on FTX in Sam Bankman-Fried trial

The prosecuting attorneys in the criminal case against former FTX CEO Sam Bankman-Fried, also known as SBF, have started to call witnesses. According to an Oct. 4 X (formerly Twitter) thread by Inner City Press, the Assistant United States Attorneys presented testimony from a London-based cocoa broker named Marc-Antoine Julliard who used FTX for crypto trading. Julliard spoke on learning about the crypto exchange from a friend, seeing advertisements for the firm by Gisele Bündchen, and using the FTX mobile app for trading cryptocurrencies including Dogecoin (DOGE). In testimony before…

Sam Bankman-Fried ‘Lied,’ DOJ Tells Jury; Defense Tries to Pin FTX Collapse on Caroline Ellison

The FTX app and terms of service told customers the money they put on the exchange was being kept for them “as if they were sitting right there” – but, in reality, Bankman-Fried diverted those funds to “smaller and secretive company” called Alameda Research and spent them on “luxuries” for himself, his friends and family members, Rehn told the court. In addition, Bankman-Fried used the money to make political donations that allowed him to curry favor with powerful people on Capitol Hill, Rehn said. Source

Alameda sent $4.1B of FTT tokens to FTX before crash: Nansen report

boss

Blockchain data analysts from Nansen have revisited the days leading up to the collapse of FTX, including the transfer of $4.1 billion worth of FTT tokens between the exchange and Alameda Research. A Nansen report shared with Cointelegraph reveals unique observations from the blockchain analytics firm, highlighting the close relationship between the two companies founded by Sam Bankman-Fried as the former FTX CEO appears in court to face a litany of charges relating to the collapse of the exchange. The collapse of FTX is widely reported to have been sparked…

U.S. Crypto Regulation Irrelevant to Sam Bankman-Fried FTX Allegations, DOJ Says in Fraud Trial Arguments

“While the existence of a law might be relevant to establish a statutory duty of care, the absence of regulation is not relevant to whether money was, in fact, entrusted to the defendant’s care by his victims,” the DOJ filing said, adding that the existing criminal rulebook is sufficient. “There are prohibitions on misappropriating customer assets – they are the very laws that the defendant has been charged for violating.” Source