Tag: Parents

Bitcoin over a 529? Crypto parents rethink college savings

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Never mind that Bitcoin is extremely volatile. Some parents are seeing beyond that and opting to invest in cryptocurrency instead of traditional 529 college savings plans, hoping for higher returns despite the risks. According to Bloomberg, a growing number of families are banking on Bitcoin (BTC) as a hedge against inflation, which got worse in December, as consumer prices rose 2.6% compared to a year earlier. That’s up from a 2.4% annual pace in November. The bet is that Bitcoin is an asset with stronger long-term growth potential than conventional…

FTX Founder’s Parents Push for Pardon After Trump’s Ross Ulbricht Decision

Jailed FTX founder Sam Bankman-Fried’s (SBF) parents are reportedly seeking a pardon for their son from U.S. President Donald Trump. Trump’s Pardon Wave Sparks Frenzy—Is SBF Next in Line? The parents of jailed FTX founder Sam Bankman-Fried (SBF) are reportedly working to have U.S. President Donald Trump pardon their son. According to a Bloomberg report, […] Source CryptoX Portal

Stanford University, Home of Sam Bankman-Fried’s Professor Parents, Will Return ‘Gifts’ Donated by FTX: Report

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Parents of Sam Bankman-Fried Sued by FTX Estate Over Allegedly Siphoning Funds From Crypto Exchange: Report

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The parental guardians of former FTX CEO Sam Bankman-Fried are reportedly being sued by the crypto exchange’s bankruptcy estate for allegedly misappropriating funds. According to a new article from the Financial Times, Joseph Bankman and Barbara Fried are being sued by the FTX estate over allegedly siphoning funds from the now-bankrupt exchange. Says prosecutors, “As early as 2018, Bankman described Alameda as a ‘family business’ — a phrase he repeatedly used to refer to the FTX Group.” However, Bankman and Fried’s lawyers say the allegation is “a dangerous attempt to intimidate…

FTX founder’s parents sued, accused of stealing millions from crypto exchange

Debtors of the bankrupt cryptocurrency exchange FTX have launched action against the parents of FTX founder Sam Bankman-Fried, alleging that they misappropriated millions of dollars through their involvement in the exchange’s business. The counsel for FTX debtors and debtors-in-possession, represented by the law firm Sullivan & Cromwell, on Sept. 18 filed a lawsuit against SBF’s parents, Joseph Bankman and Barbara Fried. The plaintiffs argued that Bankman and Fried exploited their access and influence within the FTX empire to enrich themselves at the expense of the debtors in the FTX bankruptcy…

FTX Files Lawsuit against Founder’s Parents Over Alleged Fund Misappropriation

FTX’s lawsuit seeks redress for the alleged fraudulent financial activities undertaken by Joseph Bankman and Barbara Fried. In an expected turn of events, the bankrupt FTX Trading Ltd has filed a lawsuit against the parents of its founder and former CEO Sam Bankman-Fried. The lawsuit alleges that Joseph Bankman and Barbara Fried were involved in the fraudulent transfer and misappropriation of millions of dollars. FTX’s Allegations and Lawsuit against Bankman and Fried A recent report highlights that FTX’s court filing paints a troubling picture of Joseph Bankman and Barbara Fried,…

Judge approves taps on SBF’s parents’ phones to meet bail conditions

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Surveillance software has been successfully implemented on Sam Bankman-Fried’s parents’ cell phones to ensure he does not breach the conditions of his bail, with a Judge approving of the measure. Bankman-Fried’s lawyers requested an extension on April 19 for the enforcement of the FTX co-founder’s recently revised bail conditions, citing difficulties in finding the required surveillance software for his parents’ cell phones. Initially, Bankman-Fried’s lawyers suggested they would install software that would take a photo of the user “every five minutes.” In an April 21 filing in a New York…

SBF’s lawyers unable to tap his parent’s phones to meet bail conditions

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Sam Bankman-Fried’s legal team have requested a third extension on the enforcement of his revised bail conditions, citing difficulties in installing monitoring software on his parents cell phones to capture a photo of the user “every five minutes.” In an April 19 court filing in the Southern District of New York, Sam Bankman-Fried’s lawyers, Mark Cohen and Christian Everdell, stated that they have successfully implemented “all of the bail conditions set forth in the Order,” with the exception of monitoring the usage of Bankman-Fried’s parents’ cell phones. It was noted:…