Tag Archives: Sam Bankman-Fried (SBF)

Patrick Hilmann, the Chief Strategy Officer (CSO) of leading crypto exchange Binance, alleged that Sam Bankman-Fried (SBF), the founder and former CEO of the now-defunct rival exchange FTX, consistently criticized Binance’s CEO Changpeng Zhao (CZ) before FTX’s collapse, a behavior Hilmann referred to as “shading.” In a recent tweet, the CSO disclosed that SBF was fond of spreading fake rumors about CZ and often called him an “evil Chinese.” SBF Constantly Shaded CZ A great...

Founder and former CEO of bankrupt FTX exchange, Sam Bankman-Fried, will again plead not guilty to recent charges brought against him by US prosecutors, which include unlawful political donations and alleged bribery of Chinese officials. He is scheduled to stand trial for various criminal charges in October. Bankman-Fried to Plead Not Guilty to 13-Count Charges According to Reuters on Thursday (March 30, 2023), an anonymous source said that Sam Bankman-Fried is planning to...

Buried in a mountain of charges from the Justice Department, Former FTX CEO Sam Bankman-Fried (SBF) is reportedly paying his legal fees with money gifted to his father that was initially borrowed from his trading firm, Alameda Research.  The multi-million dollar revelation comes after Bankman-Fried claimed in late November that he had just $100,000 left in his bank account.  SBF’s Legal Defense Fund In a report published on Tuesday, Forbes claimed to have received information...

Former FTX boss Sam Bankman-Fried (SBF) has been slapped with another lawsuit from the Department of Justice (DOJ) for sending millions of dollars in bribe money to Chinese government officials The department claims that the bribe, worth $40 million, was to induce the government to unfreeze accounts connected to FTX’s sister trading firm, Alameda Research.  SBF Bribing China In an updated, superseding indictment shared Tuesday, the DOJ alleged that SBF “directed and caused...

The lawyers of Sam Bankman-Fried (SBF) have reportedly shaken hands with US prosecutors on amended bail conditions.  The authorities will give the former crypto mogul a new phone with no Internet capability and prohibit him from using online messaging applications. A recent Reuters coverage informed that SBF’s attorneys and American prosecutors involved in his case had revised his bail agreement.  The former CEO of FTX will have a new laptop with limited functions. It will...

Disgraced FTX founder Sam Bankman-Fried (SBF) is under yet another layer of legal pressure after a judge unsealed a superseding 12-count indictment against him on Thursday.  The filing adds 4 new charges to an 8-count indictment introduced in December, and includes new details regarding illegal political donations made by SBF. Straw Donor Scheme As the government alleges, Bankman-Fried “corrupted” the operations of both crypto exchange FTX and its sister trading firm Alameda...

Nishad Singh, the former head of engineering at bankrupt crypto exchange FTX, is close to striking a plea deal with federal prosecutors in the ongoing case against the exchange and its execs. According to a Bloomberg report, which cited people familiar with the matter, Singh plans to plead guilty to criminal charges over his role in the FTX saga. Singh to Strike Plea Deal With US Prosecutors The report noted that Singh has been negotiating a deal with Manhattan prosecutors as...

Bankrupt crypto lender BlockFi has filed a motion to dismiss the bankruptcy case for Emergent Fidelity Technologies, the holding firm owned by Sam Bankman-Fried (SBF), founder and former CEO of FTX. In the motion, filed on Thursday in the United States Bankruptcy Court for the District of Delaware, BlockFi argued that Emergent is not eligible for a bankruptcy case as it has no other assets than 56 million Robinhood shares. BlockFi Seeks to Dismiss Emergent’s Bankruptcy Case...

The guarantors behind Sam Bankman-Fried (SBF)’s $250 million bail package have been revealed after news organizations gained court approval to unseal their names in early January.  Both individuals are high-ranking academics at Stanford, where the disgraced CEO’s parents are law professors. Who Granted SBF Bail? The signatories’ names are Larry Kramer and Andreas Paepcke – a former Stanford law school dean and computer scientist, respectively.  Kramer is president of the...

Leading venture capital firms such as Sequoia Capital, Thoma Bravo, and Paradigm were reportedly indicted for adding an “air of legitimacy” to the bankrupt cryptocurrency exchange FTX. Sam Bankman-Fried, accused of committing several crimes such as fraud and money laundering, received a subpoena as part of the case against the organizations he found and will have to present a range of documents on February 17. His father – Joseph Bankman – and Alameda Research’s former bosses...