In a surprising turn of events, bankrupt cryptocurrency exchange FTX recently announced a new repayment plan to reimburse creditors and customers in full. The plan also includes a substantial compensation offer to account for the time value of their investments. While customers initially expected to be the primary beneficiaries, the biggest winners in this repayment […]
Sam Bankman-Fried Cites Autism Disorder As Reason To Avoid 100 Years In Prison | Bitcoinist.com
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In a high-profile case that has garnered considerable attention, Sam Bankman-Fried, the disgraced CEO of the now-bankrupt FTX crypto exchange, is seeking a lighter sentence, citing his autism spectrum disorder. Bankman-Fried’s lawyers argue that his condition makes him “uniquely vulnerable” in a prison environment and should result in a reduced sentence of five to six […]
FTX-Linked Billionaire Joe Lewis Pleads Guilty To 19 Fraud Charges In The US | Bitcoinist.com
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In a significant development, billionaire Joe Lewis, formerly associated with bankrupt crypto exchange FTX and known for owning a Premier League football club, has pleaded guilty to 19 fraud charges related to insider trading in the United States. Lewis, who had sold over $76 million worth of property in the Bahamas to Sam Bankman-Fried, the […]
FTX Digital Markets Secure Global Settlement: Positive Outcome For Customers? | Bitcoinist.com
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In a significant development, FTX Debtors and FTX Digital Markets have announced a global settlement agreement with the Joint Official Liquidators (JOLs) representing FTX Digital Markets. The settlement, subject to court approvals, addresses the complex legal challenges arising from the collapse of the FTX group and proposes a mutually beneficial solution. Consensual Resolution Achieved The […]
FTX Founder Sam Bankman-Fried Admits Limited Cryptocurrency Knowledge During Fraud Trial | Bitcoinist.com
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During the ongoing trial of Sam Bankman-Fried, co-founder of the now-defunct FTX crypto exchange, startling revelations have emerged regarding his understanding of cryptocurrency. FTX Co-Founder’s Shocking Testimony According to live coverage of the trial by The Guardian, Bankman-Fried confessed to knowing “basically nothing” about cryptocurrency before launching FTX and its affiliated hedge fund, Alameda Research. […]
Alameda Research’s $190 Million Loss Linked To Inadequate Security, Insider Reports | Bitcoinist.com
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Amidst the ongoing legal proceedings, a fresh wave of testimonies has emerged against Sam Bankman-Fried (SBF) and his operations. In this particular instance, outside the courtroom, a former engineer at Alameda Research, the sister hedge fund of FTX, has come forward with revelations of substantial losses in trading funds totaling at least $190 million. Aditya […]
In a dramatic turn of events involving the Bitcoin price (BTC) during the trial of Sam Bankman-Fried, founder of FTX, shocking revelations have emerged from the testimony of his ex-girlfriend and former head of Alameda Research, Caroline Ellison. The crucial highlight of her statements centers around an alleged conspiracy to manipulate Bitcoin prices by selling […]
FTX Founder Sam Bankman-Fried Accused Of Inducing Criminal Behavior By Caroline Ellison | Bitcoinist.com
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The trial of Sam Bankman-Fried (SBF), the founder of FTX, has entered its second week, with key witnesses closely associated with the bankrupt exchange testifying against him in court. Today, Caroline Ellison, Bankman-Fried’s ex-girlfriend and former head of Alameda Research, FTX’s trading arm, brought serious allegations in the courtroom. Trial Reveals FTX-Alameda Connection In Fund […]
In the wake of FTX’s collapse, the crypto industry was plunged. Prices plummeted, investors scrambled to cut their losses, and startup funding evaporated. Amid the chaos, the spotlight turned to Changpeng Zhao, the founder of Binance, as the last remaining tycoon in the crypto world after the swift fall of Sam Bankman-Fried. With a grand […]
The trial of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX and hedge fund Alameda Research, is set to commence in New York on Tuesday, October 3. This comes almost a year after the collapse of both FTX and Alameda Research. The events leading up to the trial paint a picture of alleged fraudulent activities […]
The trial of the former CEO of defunct crypto exchange FTX Sam Bankman-Fried (SBF) has taken full shape with just less than a week before it commences. In preparation, the court has released the trial calendar, which shows how long the case is expected to last. A Close Look At The Calendar According to the […]