Tag: FTX

FTX Founder Sam Bankman-Fried’s Ties to George Santos Are a Thread in a Web of Lies

This information was puzzling when it first emerged – Santos had no clear connection to FTX, and no apparent interest in crypto or any other issues Bankman-Fried feigned concern about. According to Puck News, though, the explanation for the Santos connection is relatively straightforward. Salame’s girlfriend, Michelle Bond, former CEO of the FTX-backed crypto trade group Association for Digital Asset Markets, ran for Congress in 2022 as a MAGA Republican, in a district near Santos’. Source

Lawsuit against FTX celebrity promoters gets backup from former exec

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A class action lawsuit against celebrities who allegedly promoted the now-bankrupt FTX has scored the cooperation of a former exchange executive — ex-compliance chief Daniel Friedberg. A May 11 proposed amended complaint filed in a Florida District Court from the class action lawyers said Daniel Friedberg provided evidence that promotional activity for FTX originated from Florida. Friedberg was the chief regulatory officer at FTX and the chief compliance officer of FTX US, the exchange’s United States arm. The declaration could potentially rebut a key defense made by some of the…

IRS Files Claim against FTX & Affiliates, Seeks $44B in Unpaid Taxes

In its claim, the IRS alleged that FTX, Alameda, and co failed to report transactions and activities for a sustained period.  The US Department of Treasury and Internal Revenue Service (IRS) has filed a $44 billion claim against FTX and its subsidiaries. In the documents, dated April 27th and 28th, the IRS alleged that the embattled crypto exchange and its affiliated entities owe the revenue service $44 billion. The Washington, DC-based federal revenue service agency said the unpaid claims were due to FTX failing to report several transactions properly. The single most significant…

IRS claiming $44B from FTX bankruptcy: Report

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The single biggest claim involves unpaid partnership and income taxes of $20.4 billion assessed against Alameda Research. The United States Department of Treasury and Internal Revenue Service (IRS) have filed 45 claims worth $44 billion against bankrupt cryptocurrency exchange FTX and its subsidiaries. In what appears to be a tax bill for FTX’s sister company Alameda Research LLC that circulated online on May 10, the IRS assessed the firm $20.4 billion due in partnership taxes and payroll taxes. The assessment appears to match the IRS claim found on the website of Kroll…

Shaquille O’Neal claims process servers ‘tossed’ FTX legal papers at his moving car

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Lawyers for NBA star Shaquille O’Neal, who previously endorsed the now-bankrupt crypto exchange FTX, have claimed two process servers inadequately delivered legal documents after previously failed attempts. In a May 8 filing for United States District Court in the Southern District of Florida, Shaq’s legal team said following “a failed motion to serve” the NBA star, two process servers “tossed” papers for a legal complaint in front of his moving car. According to the filing, Shaq did not stop to pick up the papers, but left them in the road.…

FTX Founder Bankman-Fried Seeks Dismissal of Charges Filed After Extradition – Exchanges Bitcoin News

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Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s Sam Bankman-Fried Urges Court to Drop Post-Extradition Charges Attorneys representing Sam Bankman-Fried (SBF), co-founder and ex-chief executive of the failed cryptocurrency exchange FTX, have filed a series of motions in Manhattan federal court on Monday, requesting the dismissal of a number of criminal charges against…

Former FTX CEO SBF Files Motion to Dismiss Fraud Charges

Meanwhile, the defunct FTX continues to pursue various options to recover customer funds. Former FTX CEO Sam Bankman-Fried has on Monday filed an ex parte motion before a Federal Court. The motion, as filed through the office, seeks to dismiss 10 out of 13 US charges against the former CEO. The remaining charges include conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering. Interestingly, the former CEO previously pled ‘Not guilty” to all the allegations laid against him. According to Bankman-Fried’s attorneys, the…

FTX founder Sam Bankman-Fried urges court to dismiss charges

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FTX founder and former CEO Sam Bankman-Fried (SBF) is seeking to have up to 10 criminal charges against him dismissed in court, arguing for several counts that there has been a failure to state an offense.  According to court documents filed in the southern district court of New York on May 8, SBF’s legal team has pushed to dismiss everything apart from three counts of conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering. Sam Bankman-Fried has filed motions to dismiss all but…

FTX bankruptcy judge approves sale of LedgerX

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The judge presiding over crypto exchange FTX’s bankruptcy case has given the green light to a motion allowing the sale of LedgerX. In a May 4 hearing in United States Bankruptcy Court for the District of Delaware, Judge John Dorsey approved a motion from the FTX debtors filed in April to sell LedgerX to M7 Holdings, an affiliate of Miami International Holdings. FTX said at the time of the purchase agreement that the total proceeds of the transaction would total roughly $50 million. According to lawyers speaking at the hearing,…