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Tag: SBF

January 3, 2024

FTX Bankruptcy Saga: A Legal Labyrinth That Could Outlast the Next Crypto Bull Run Amid Controversial Legal Decisions!

The prolonged legal battles surrounding the bankruptcy of FTX highlight that the resolution process could extend beyond the duration of the next anticipated crypto bull run. According to Alan R. Rosenberg, a Markowitz Ringel Trusty & Hartog partner, the FTX case is poised to be more protracted than other crypto bankruptcies like Celsius and BlockFi, primarily due to the complex clawback claims being pursued.

December 30, 2023

U.S. Prosecutors Forego Second Trial Against FTX Founder Sam Bankman-Fried

am Bankman-Fried (SBF), the founder of the now-bankrupt crypto exchange FTX. In November 2923, Jurors convicted SBF on all seven fraud and conspiracy counts he faced. Prosecutors had accused him of looting $8 billion from FTX customers out of sheer greed. A second trial with further charges was originally planned. The prosecutors have now canceled this.

December 19, 2023

FTX’s Amended Bankruptcy Plan: Clients May Lose Billions!

As FTX navigates its way out of bankruptcy, the shadow of its founder, Sam Bankman-Fried's (SBF) conviction, looms large. The once-celebrated crypto exchange, now under the leadership of CEO John J. Ray III, recently filed an amended reorganization plan, a critical step towards resolving its bankruptcy and compensating investors and customers. However, the path forward is fraught with complexities and uncertainties.

November 14, 2023

Interesting: FTX Estate Sues Bybit to Return $953M In Allegedly ‘Misappropriated Funds’

In a recent development in the cryptocurrency sector, the estate of the now-bankrupt U.S. crypto firm FTX has initiated legal action against Bybit, a competing exchange platform. The lawsuit, filed in Delaware, seeks the recovery of approximately $953 million. This sum represents assets and cash that FTX alleges were improperly withdrawn by Bybit’s investment arm, Mirana Corporation, prior to FTX’s bankruptcy declaration.

November 6, 2023

Sam Bankman-Fried’s Legal Troubles Deepen After Conviction – The FTX Case Continues Unfolding

In the Aftermath of a high-profile conviction, the FTX drama persists. The crypto universe watched in disbelief as one of its most iconic figures, Sam Bankman-Fried (SBF), faced the full force of the law with a potential century-long prison sentence hanging over his head. The co-founder and one-time CEO of the now-defunct crypto FTX exchange was convicted on an array of charges, including fraud and money laundering, with a sentencing date set for March 28, 2024.

November 3, 2023

As Expected: FTX Founder Sam Bankman-Fried Found Guilty!

In the New York District Court, after a trial lasting one month, Sam Bankman-Fried (SBF), 31, founder and former CEO of the globally prominent crypto exchange FTX, was convicted on charges of fraud and money laundering. The determination of the jury was reached swiftly, following a mere four and a half hours of deliberation.With the conviction, the crypto industry can also lock up a capital and hope for a fresh start.

November 1, 2023

Crypto Trial: Final Cross-Examination Concludes The Trial Against FTX Founder Sam Bankman-Fried!

In the ongoing criminal fraud trial of FTX founder Sam Bankman-Fried (SBF), he faced a rigorous cross-examination by federal prosecutor Danielle Sassoon during a second consecutive day of testimony. The cross-examination on Tuesday centered on SBF's actions and statements leading up to the collapse of FTX in November. Repeatedly, he denied any knowledge of the misappropriation of billions of dollars in customer funds until shortly before the company's downfall last year.

October 31, 2023

Crypto Trial: FTX Founder Sam Bankman-Fried Questioned By Prosecutors!

Monday was another crypto trial day in New York. FTX founder Sam Bankman-Fried (SBF) was questioned by the prosecutor. As FTX CEO, SBF used to be very active on Twitter and in TV interviews. However, these public statements have now become a focal point in the trial against him. On Monday, the federal prosecutor extensively questioned him about any discrepancies between his public remarks and the actual FTX operations.

October 28, 2023

FTX Founder Sam Bankman-Fried Denies Fraud Allegations Amidst High-Profile Crypto Trial!

The trial against Sam Bankman-Fried (SBF), the founder of the collapsed crypto exchange FTX, saw SBF facing the court on Thursday and Friday this week. He defended himself against a myriad of fraud charges.The U.S. prosecutors accuse him of diverting billions from FTX customers to address a deficit at Alameda Research, an affiliated hedge fund. SBF has entered a not guilty plea to all allegations. Here are the key takeaways from the trial:

October 27, 2023

Binance Founder’s Fortune Dips and Legal Challenges Surge Amid Broader Crypto Industry Strains!

Crypto founder Sam Bankman-Fried (SBF) is facing fraud charges but he isn't the only one in the crypto industry under scrutiny. Recent data led the Bloomberg Billionaires Index to reduce its revenue estimate for the crypto exchange Binance by 38%, which took away $11.9 billion from the wealth of Binance's founder, Changpeng Zhao (CZ), also known as CZ, leaving him with $17.2 billion.

October 12, 2023

Crypto Trial: The Second Day of the Questioning of Caroline Ellison by the Prosecution in the FTX Trial!

On Wednesday, the FTX trial continued with the prosecution questioning Carolin Ellison. The ex-girlfriend of FTX founder Sam Bankman-Fried (SBF) is a key government witness in the indictment against SBF and has already pleaded guilty to financial crimes. SBF, on the other hand, has pleaded not guilty to the seven counts. The defense's questioning of Ellison continues Thursday.

October 6, 2023

The Crypto Trial: FTX Co-Founder Takes The Stand And Explains The Financial Crime!

In a significant development in Sam Bankman-Fried (SBF)'s ongoing crypto fraud trial, Gary Wang, co-founder of the now-defunct crypto exchange FTX, took the stand as a prosecution witness. Wang's testimony on Thursday afternoon in Manhattan federal court revealed startling details about the operations of FTX and its ties to sister crypto firm Alameda Research. Wang has pleaded guilty to financial crimes as a prosecution witness.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.

Prison Update: Sam Bankman-Fried Transferred to Low-Security Federal Prison in Los Angeles!

Sam Bankman-Fried (SBF), the founder of the now-defunct cryptocurrency exchange FTX, has been transferred to the Federal Correctional Institution (FCI) Terminal Island in Los Angeles, California. This low-security facility is known for housing non-violent offenders and has previously held notable inmates such as Ramesh "Sunny" Balwani, former COO of Theranos.