Tag Archives: SBF

CoinspeakerFTX Seeks Exclusion of Dubai Unit from US Bankruptcy Proceedings The attorneys claimed that FTX Dubai has a solvent balance sheet. FTX Seeks Exclusion of Dubai Unit from US Bankruptcy Proceedings

CoinspeakerFormer FTX CEO’s Defense Slams DOJ’s Attempt to Revoke Bail The DOJ claims that Bankman-Fried's actions amounted to witness tampering and obstruction of justice and that he should be remanded. Former FTX CEO’s Defense Slams DOJ’s Attempt to Revoke Bail

CoinspeakerUS DoJ Accuses Sam Bankman-Fried of Leaking Ellison’s Diary to Press The DoJ said that SBF was trying to discredit Ellison, who has already pleaded guilty of the charges and showed willingness to cooperate in the investigation. US DoJ Accuses Sam Bankman-Fried of Leaking Ellison’s Diary to Press

CoinspeakerFTX Exchange Files to Reclaim $71M from Its Philanthropic and Life Science Subsidiaries  FTX's new administration has continued to make significant efforts to reclaim funds the former CEO spent during his time at the firm. FTX Exchange Files to Reclaim $71M from Its Philanthropic and Life Science Subsidiaries 

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...

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 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...

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...