Tag Archives: sam bankman-fried

The possibility of FTX reopening its crypto exchange services under the new management has been tagged feasible by some industry observers. The FTX derivatives exchange, the bankrupt cryptocurrency trading platform, has recently unveiled its plans to revive its international crypto exchange, according to reports by Wall Street Journal. This decision comes in the face of a tarnished reputation, as its bankruptcy caused a series of setbacks and challenges that have affected its standing...

The suit was filed at the United States Bankruptcy Court for the District of Delaware. Bankrupt FTX exchange has filed a lawsuit against K5 Global – an investment firm owned by a former aide to Hillary Clinton. According to a Reuters report, the suit was filed at the United States Bankruptcy Court for the District of Delaware. It contains 16 counts against the defendants and seeks to recover about $700 million from them. According to the filing, the defendants include K5 Global, Mount...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Sam Bankman-Fried – the former head of the digital currency exchange FTX, which collapsed into a burning heap of bankruptcy and fraud last November – is asking the judge overseeing his case to dismiss most of the criminal charges against him. Bankman-Fried Seems to Imply Things Are Rigged Against Him Right now,...

The DoJ prosecutors have eliminated five charges relating to fraud, conspiracy, and bribery initially levied against the disgraced FTX founder. In a court filing on Wednesday, June 14, prosecutors with the US Department of Justice (DoJ) told the district judge that they would be proceeding with eight charges in the trial levied against FTX founder Sam Bankman-Fried back in December 2022. The DoJ lawyers also cited a motion filed by SBF in the Bahamas wherein he argued that the 13 charges...

The Metropolitan Museum of Art in New York City cited ethical concerns surrounding the cryptocurrency exchange’s operations while has announcion its decision to return $550,000 in donations received from FTX. The Metropolitan Museum of Art (Met Museum), renowned as one of the United States’ most esteemed cultural institutions, has made the decision to return a substantial donation of $550,000 that was generously contributed by the cryptocurrency exchange FTX. Court filings to the United...

The Bahamas government’s response will determine whether to go on with or drop some of the cases. Sam Bankman-Fried was apprehended last year in the Bahamas and subsequently transferred to the United States. The allegations against him involve multiple charges relating to financial fraud and the collapse of FTX. Bankman-Fried is charged with engaging in illegal activities, including allegedly working with former FTX executives to persuade American legislators to pass legislation that would...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up A new report has emerged talking about what it was that really led to the destruction and collapse of the FTX digital currency exchange. Why Did FTX Really Fall? Everyone would like to think it was heavy corruption or something similar, but per the words of the report, it was merely “hubris and greed.” Hubris...

Telegram has implemented various security features to enhance user privacy and data protection. Popular messaging app Telegram has addressed a recent camera and security exploit that could allow attackers to gain control of a macOS device’s camera. A spokesperson for Telegram Remi Vaughn mentioned that Telegram users are not at risk by default because the exploit requires malware to be installed on the system. Notably, Software engineer Dan Revah drew attention to this exploit in a blog...

The ultimatum highlights the growing pressure on the SEC to take a more transparent approach to its regulatory activities. The US House Committee on Financial Services has given the Securities and Exchange Commission (SEC) Chair, Gary Gensler, an ultimatum to respond to its requests. The committee is asking for access to internal documents concerning the SEC’s activities, especially about the agency’s proposed climate rule and charges against the former FTX CEO. Despite the congressional...

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...