FTX Founder Accused of Embezzling Customer Funds for Political Contributions

Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has been charged with stealing customer funds for political campaign donations. Prosecutors claim that Bankman-Fried used funds stolen from FTX sister company Alameda Research to make campaign contributions before the 2022 US midterm elections. He allegedly directed the money into the personal accounts of FTX executives, who […]

Explained In 30 Seconds: Why Sam Bankman-Fried Is Finally Behind Bars After A Year

Former FTX CEO, Sam Bankman-Fried, finds himself in the Metropolitan Detention Center (MDC) in Brooklyn after his bail was revoked by Judge Lewis Kaplan. The MDC, known for its lack of comforts, is currently housing over 1,500 inmates, exceeding its capacity of 1,000. Bankman-Fried, who previously resided in a luxurious Stanford home, is expected to […]

FTX CEO’s Freedom Derailed: Sam Bankman-Fried Faces Jail Time

The bail of Sam Bankman-Fried, founder and former CEO of cryptocurrency exchange FTX, has been revoked by the Federal Court and he has been ordered to be sent to jail. Federal Court Judge Lewis Kaplan made this decision in response to allegations that Bankman-Fried, also known as SBF, had been attempting to intimidate witnesses related […]