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Tag: SBF

September 22, 2023

Additional Lawsuits Filed By FTX Estate Against Former Partners For Alleged Misuse Of Funds.

The insolvency proceedings concerning the U.S. digital currency platform FTX continue to evolve. As reported, FTX has initiated legal action against the parents of its founder and former CEO, Sam Bankman-Fried (SBF), alleging misappropriation and seeking restitution of funds. Prior to the formal declaration of FTX's insolvency, termed the "Preference Period," the named parties allegedly benefited from transactions deemed as preferential transfers, as per the legal documentation.

September 21, 2023

A Steep Fall From Grace: Standford University To Return FTX Donations!

Stanford University allegedly plans to return substantial charitable donations it received from collapsed crypto exchange FTX, founded Sam Bankman-Fried (SBF). The contributions, amounting to over $5.5 million, were allegedly influenced by Joseph Bankman and Barbara Fried, both professors at Stanford Law School and parents of SBF. Allegedly, these donations were made to enhance the professional and social standing of the professors at the expense of FTX Group.

September 19, 2023

Parents Of Jailed FTX Founder Sued By FTX To Recover Misappropriated Funds!

The ongoing legal battle involving the FTX crypto exchange has taken a new twist as the U.S. Securities and Exchange Commission (SEC) intensifies its investigation. The latest development involves the parents of Sam Bankman-Fried (SBF), the founder of FTX. John Jay Ray III, the corporate turnaround expert overseeing FTX's bankruptcy, has previously accused SBF of "old-fashioned embezzlement." Now, SBF's parents, Stanford law professors Joseph Bankman and Barbara Fried, are sued by FTX.

Court Cases

August 29, 2023

The Preparation Of The October Trial Against FTX Founder Sam Bankman-Fried Intensifies!

The lawyers representing Sam Bankman-Fried, founder of FTX, have formally submitted a motion seeking his "interim release" or, at a minimum, a provision allowing him to confer with his defense team five days a week. The motion refers to the Sixth Amendment and SBF's constitutional right to participate in preparing his defense and his right to receive effective assistance of counsel. They also objected to the Government’s production of an additional 4 million pages of discovery.

August 22, 2023

Former Crypto King Sam Bankman-Fried And His Perfect Fall From Grace!

Mythology also knows these individuals who, driven by their own hubris, want to get too close to the sun and then crash with burnt wings. The comparison with Icarus is probably the most apt one you can find for FTX founder Sam Bankman-Fried (SBF). Just 18 months ago, he was the US crypto mogul that politicians and celebrities bowed down to. Today he sits in jail waiting for his trial. A perfect fall from grace.

August 12, 2023

FTX Founder Sam Bankman-Fried Sent To Jail For Violating Bail Conditions: What You Need To Know!

Sam Bankman-Fried (SBF) had been under house arrest at his parent’s home as he awaited trial on charges stemming from the collapse of his crypto company, FTX. However, the 31-year-old founder of the now-defunct crypto exchange FTX was sent to jail after a federal judge in New York revoked his bail. The decision came after accusations that SBF attempted to influence witnesses for his upcoming trial in October 2023.

August 3, 2023

Binance Possibly Faces The Next US Legal Challenges With Massive Impact On Crypto Market

The potential legal repercussions faced by Binance, the world's largest crypto exchange, in the U.S. are under scrutiny. According to a CoinDesk report, the U.S. Department of Justice is considering fraud charges against the crypto giant. However, the potential impact on the broader crypto market is causing hesitation, with officials contemplating alternative actions such as fines or deferred/non-prosecution agreements.

July 27, 2023

U.S. Prosecutors Ask For Pre-Trial Detention Of FTX Founder Over Witness Tampering!

U.S. prosecutors have requested the pretrial detention of FTX founder and former CEO Sam Bankman-Fried (SBF) ahead of his scheduled trial in October related to the exchange's collapse. During a court hearing, the prosecutor argued that "no set of release conditions can ensure the safety of the community," Reuters reports. SBF has been actively communicating with the public and reporters, raising concerns about the potential impact on the case.

July 14, 2023

Former CEO Of Bankrupt Crypto Scheme Celsius Networks Arrested On Fraud Charges

In a significant development, U.S. prosecutors have charged Alexander Mashinsky, 57, the former CEO of Celsius Network, with defrauding customers and providing misleading information about the company's operations. He has pleaded not guilty and was released on a $40 million bond. His attorney, Jonathan Ohring, stated that Mashinsky vehemently denies the allegations and looks forward to a robust defense in court.

June 23, 2023

Embattled SEC Chair Gary Gensler Faces Ethics Scrutiny Over His Handling Of The FTX Case!

The 45-minute Zoom call between SEC Chair Gary Gensler and the disgraded FTX co-founder Sam Bankman-Fried (SBF) in March 2022 raises questions. New York Post's On The Money revealed that Gensler did not seek approval from the SEC's Office of the Ethics Counsel for the meeting, which goes against the agency's protocol. Experts suggest that it likely would have been denied if he had sought permission.

June 12, 2023

Interesting Opinion On Why The U.S. Prosecutors Will Go Against Crypto Exchange Binance!

The former SEC executive and law John Reed Stark turned to Twitter to explain why he thinks that the U.S. Department of Justice (DOJ) will go against the crypto exchange Binance. He thinks that the U.S. DOJ has either filed or is planning to file a criminal indictment related to Binance. Money laundering entails concealing financial assets to enable their use without detection of the illicit activities that generated them.

Crypto
SEC

April 19, 2023

Embattled SEC Chair Gary Gensler Defended His Crypto Crackdown Policy!

In a House hearing, Gary Gensler, the U.S. Securities and Exchange Commission (SEC) Chair, defended his agency’s crackdown on crypto markets, saying that he had never seen an industry so routinely break securities laws. Gensler’s approach has been called “regulation by enforcement," which would not be sufficient nor sustainable. His approach would drive innovation overseas and endanger the U.S. competitiveness, one Republican said.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

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.