Tag Archives: Sam Bankman-Fried (SBF)

Bitcoin has declined over the past several days as bears remained vigilant near $70,000. As a result, the premier cryptocurrency has shed more than 4% over the past week and was trading near $66,000 at the time of writing. Interestingly, wallets with 10 or more BTCs have collectively reached their highest holding level in two years. Data suggests that the absence of FTX’s influence may have potentially allowed the market to reflect demand more accurately. Whale Wallets Mirror...

Former FTX co-CEO Ryan Salame was sentenced yesterday to 90 months in prison, according to Damian Lewis, the United States Attorney for the Southern District of New York. Salame previously pled guilty to conspiring to make illegal political contributions and defraud the Federal Election Commission and to conspiracy to run an unlicensed money-transmitting business before US District Judge Lewis A. Kaplan, who handed down today’s sentence. Ryan Salame’s Sentencing As per the...

Disgraced FTX founder Sam Bankman-Fried revealed that he hasn’t experienced abuse and doesn’t “feel unsafe.” The only time he feels bothered is during the night when they ask about the rice bags they plan to use for trade. This was his first comprehensive interview since being imprisoned. SBF’s Prison Survival: Beans, Rice, and a Currency System The disgraced founder of FTX and co-founder of Alameda Research, who was found guilty of wire fraud, money laundering, and...

Following a couple of weeks of consolidation and correction, the cryptocurrency market is starting to heat up again. Most of the coins are trading well in the green, pushing the total capitalization to just shy of $2.8 trillion. Bitcoin’s price recorded an impressive performance, increasing by around 10% in the past seven days. It is currently trading at around $70,000, where it seems to have solidified throughout the past few days. The increase started at the beginning of...

The current CEO of FTX, John Ray, has disputed the former CEO Sam Bank Fried’s assertion that there was “zero” harm to customers during the platform’s collapse in 2022, labeling the claim as “reckless” and “false.” Ray’s criticism follows Bankman-Fried’s conviction in November for embezzling $8 billion from FTX customers. John Ray Challenges SBF’s Defense Strategy The former CEO’s defense strategy has relied heavily on the notion that since there might be a chance of customer...

In its letter to District Judge Lewis Kaplan on Tuesday, the legal team behind the disgraced FTX founder Sam Bankman-Fried has contested the sentencing recommendation put forth by the Department of Justice last week. The US prosecutors had previously proposed a prison term of 40 to 50 years for the former FTX CEO, but the lawyers deemed the memorandum “disturbing.” SBF Lawyers Cry ‘Not Justice’ In a letter submitted on March 19th, SBF’s lawyers argued that the memorandum...

Pantera Capital is reportedly in the process of securing funds from major investors to acquire heavily discounted Solana tokens from the bankruptcy estate of FTX. The company is raising capital for the Pantera Solana Fund, which presents an attractive opportunity to purchase up to $250 million worth of SOL tokens from the FTX estate. Marketing materials from February, obtained by Bloomberg, reveal that investors would have the option to buy SOL at a price 39% below the 30-day...

The popular actor and comedian Larry David has expressed remorse over participating in a high-profile 2022 Super Bowl commercial for the now-fallen cryptocurrency exchange FTX. Notably, Sam Bankman Fried, the FTX founder, was imprisoned after he was found guilty of fraud, conspiracy, and money laundering last year. Larry David Reflects on FTX Ad Regret Speaking to The Associated Press at the Los Angeles premiere of the final season of “Curb Your Enthusiasm,” a series he...

Joseph Bankman and Barbara Fried were always close to their son. A certain amount of interest in the well-being of their son and that of his business dealings is to be expected. However, the FTX estate, now led by bankruptcy specialist CEO John J Ray III, argues that SBF’s parents – particularly his father – had a much bigger presence in the FTX Groups’ dealings than it appears on paper. If the allegations can be proven true, benefits derived from FTX and its former CEO could...

As the crypto industry expands, the community stays on the lookout for significant events that can affect the growth trajectory of the ecosystem. From the look of things, 2024 happens to be full of them. One such event is the creation and implementation of clear crypto regulations in major regions like the European Union. The crypto community is also watching out for the approvals of several Ethereum exchange-traded products and the jail sentencing of the FTX founder and...