Highlights of day 2 of Bankman-Fried fraud trial.
Sam Bankman-Fried, accused of multiple counts of fraud and conspiracy, including wire fraud and conspiracy to commit money laundering, attended the second day of his much-awaited trial on Wednesday. On 2nd day of trial the prosecution and defense presented their opening statements. Prosecutor Thane Rehn put forth allegations that Bankman-Fried misappropriated FTX customer funds for […]
Binance CEO turned down $40 million offer to launch crypto Futures Exchange
In a surprising revelation from 2019, it has been disclosed that Binance CEO Changpeng “CZ” Zhao declined a $40 million proposal from then FTX CEO Sam Bankman-Fried to establish a cryptocurrency futures exchange. The offer from Bankman-Fried came in March 2019, as chronicled in Michael Lewis’ book “Going Infinite.” Binance at that time was operating […]
FTX founder lost millions in early days of trading, claims biographer Michael Lewis
Michael Lewis, renowned author, claimed in his biography of Bankman-Fried “Going Infinite.” that Sam Bankman-Fried, founder of Alameda Research, nearly lost millions from initial fundraising efforts. Bankman-Fried raised nearly $170 million from investors who were part of the ‘Effective Altruism’ community. With the intention to invest these funds in the growing, yet inefficient, crypto markets, […]
High-profile crypto trial ex-FTX CEO’s begins
On October 3, the trial of former CEO of FTX, Sam “SBF” Bankman-Fried, commenced, drawing significant attention and activity in a Manhattan courtroom that was filled to capacity. Bankman-Fried, who appeared noticeably slimmer and without his distinctive curly hair, was present for the trial’s opening day. He was seen in a navy suit, accompanied by […]
Sam Bankman-Fried’s lawyers granted unlimited prison visits
FTX founder Sam Bankman-Fried’s lawyers have been granted permission to visit him in prison as they prepare for his defense, following the denial of his request for daily meetings at their Manhattan office. A federal judge issued an order stating that Bankman-Fried’s lawyers can take full advantage of legal visitation hours at the Metropolitan Detention […]
FTX founder Sam Bankman-Fried pleads not guilty to fraud charges
Sam Bankman-Fried, the founder of FTX, pleaded not guilty to seven fraud and conspiracy charges in a Manhattan federal court on Tuesday. These charges were brought against him after prosecutors alleged that he had used over $100 million in stolen customer funds for the benefit of electoral candidates and politicians. His bail was revoked due […]
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 […]