Tag: SBF

FTX Bankruptcy case continues with sell-offF
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March 3, 2023

FTX Bankruptcy: $8.9 Billion Worth Of Customer Funds Are Missing!

The crypto exchange FTX was the latest of the big crypto bankruptcies in 2022 but certainly the most prominent one. In the last few weeks, the U.S. DoJ, CFTC, and SEC regulators filed criminal charges and fraud complaints against the FTX top executives around Sam Bankman-Fried, Nishad Singh, and Gary Wang. A recent report from the Wall Street Journal pointed out that $8.9 billion worth of customer funds have been unaccounted for and therefore missing.
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CFTC Commissioner Caroline D. Pham an Mark Wetjen with FTX founder Sam Bankman-FriedD
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March 2, 2023

Disgraced Regulators, Embarrassed CFTC Commissioners, And Their FTX Worship!

FTX founder Sam Bankman-Fried (SBF) was the darling of U.S. politicians and regulators until just before the crypto scheme collapsed. FTX was seen as the U.S. answer to the "Chinese" threat posed by Binance. With the criminal and regulatory charges, some regulators are embarrassed, like the CFTC Commissioner Caroline D. Pham or the former CFTC Commissioner Mark Wetjen. CFTC recently filed a fraud lawsuit against FTX and those responsible. Pham took to Twitter to comment.
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FTX Bankruptcy case continues with sell-offU
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March 1, 2023

U.S. Prosecutors And Regulators Charge FTX Executive With Fraud!

Nishad Singh, 27, co-founder of collapsed crypto exchange FTX and close confident to founder Sam Bankman-Fried (SBF) pleaded guilty to six criminal counts, including conspiring to commit securities and commodities fraud. Moreover, the U.S. regulators SEC and CFTC announced fraud complaints against Singh. The FTX scheme was founded by Singh along with Samuel Bankman-Fried (SBF) and Gary Wang. U.S. Prosecutors allege that SBF stole billions of dollars of FTX customer funds.
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FTX Bankruptcy case continues with sell-offA
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January 12, 2023

A Crypto Miracle? Bankrupt Crypto Exchange FTX Found $5 Billion!

Hard to believe but evidently true. Collapsed cryptocurrency exchange FTX has located more than $5 billion of assets. "We have located over 5 billion dollars of cash, liquid cryptocurrency and liquid investment securities," Andy Dietderich, an attorney for FTX, told US Bankruptcy Judge John Dorsey in Delaware. However, a US bankruptcy court was told on Wednesday that the extent of customer losses is still unknown.
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US trial against Serbian boiler room operators and binary options fraudstersF
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January 5, 2023

FTX Founder Sam Bankman-Fried Pleaded Not Guilty! Prosecutors Seized His Robinhood Shares!

FTX founder and former CEO Sam Bankman-Fried aka SBF pleaded not guilty to charges related to the “fraud of epic proportions.” The judge set an..
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FTX Bankruptcy case continues with sell-offU
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December 22, 2022

U.S. Regulators & Prosecutors Charge FTX Executives Caroline Ellison And Gary Wang!

The U.S Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in fraudulent FTX crypt scheme co-founded by Sam Bankman-Fried (SBF) and Wang. Ellison and Wang pleaded guilty to the criminal charges and cooperate with the authorities.
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Disgraced former crypto mogul Sam Bankman FriedF
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December 21, 2022

FTX Founder Sam Bankman-Fried Extradited To The U.S.

Sam Bankman-Fried aka SBF, founder and former CEO of the bankrupt crypto exchange FTX, was arrested in the Bahamas last week at the request of U.S. authorities. Since the court denied him the requested release on bail, he had to sit in the notorious Fox Hill prison. This is likely to have led him not to invoke extradition to the U.S. He is expected to be flown to the U.S. today where he will face trial on the charges, according to a CNBC report. A release on bail does not seem likely.
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Binance may face criminal charges in the UST
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December 19, 2022

The Great FTX Disappointment & The Binance War On Twitter!

In December 2019, Binance announced a strategic partnership with FTX, allegedly acquired 20% in FTX, and took a long-term position in the FTX token, FTT. The initial investment allegedly was in the range of "tens of millions" at a valuation of $1.2 billion. In July 2022 Binance exited and received $2.1 billion. A huge profit for Binance. The break was reportedly over regulatory issues. Sam Bankman-Fried (SBF) accused Changpeng Zhao (CZ) of causing him problems with regulators.
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Sam Bankman-Fried may agree to his extraditionF
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December 18, 2022

FTX Court Case: Crypto Enemy #1, Sam Bankman-Fried, Allegedly Agrees To Extradition!

Crypto enemy #1, Sam Bankman-Fried, aka SBF, the disgraced founder and former CEO of crypto exchange FTX, is expected to agree to extradition to the United States, according to an NYT report. In the U.S., SBF, 30, has been charged with fraud, misappropriating customers’ FTX funds to make lavish real estate purchases, invest in other companies, and donate funds to politicians. SBF was arrested last Monday in the Bahamas. He was denied bail and transferred to the notorious Fox Hill prison.
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Sam Bankman-Fried lied, manipulated and defraudedF
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December 14, 2022

Fraud! Sam Bankman-Fried And FTX People Manipulated Its Software To Divert Customer Assets!

According to the SEC fraud complaint and a Reuters report, FTX manipulated its software to grant Alameda Research, the hedge fund owned by FTX founder Sam Bankman-Fried (SBF), special treatment, including a feature on that prevented the automatically sale of Alameda's assets if it was losing too much borrowed money. If these revelations are true, it disproves SBF's previous strategy that losing customer assets would have been just a mistake. This is classic fraud.
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Law enforcement actions against cybercrime organizations in Israel Cyprus and UkraineT
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December 13, 2022

The Arrest Of FTX Founder Sam Bankman-Fried May Set Stage For Next-Generation Crypto Scene!

That came as a surprise. For a long time, the Twitter community demanded the arrest of FTX founder Sam Bankman-Fried (SBF) after around a million customers had lost billions with the collapsed crypto exchange. Monday evening, he was now arrested by police in the Bahamas after U.S. prosecutors brought a still-sealed indictment. He is now apparently to be quickly extradited to the U.S. to answer questions from prosecutors there. It's time for a reboot of the crypto scene.
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Binance fights against Reuters and bank runF
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December 13, 2022

FTX Founder Arrested & Binance Fights Against Reuter Attacks And Bank Run!

For a few days, there has been massive firing on Twitter and in the mainstream media (MSM) against the world's largest crypto exchange Binance. The (rightly) criticized Proof of Reserves makes the public nervous. Especially after the collapse of FTX, whose founder and former CEO Sam Bankman-Fried (SBF) was recently arrested in the Bahamas. Most recently, Reuters reported that Binance could soon face criminal charges in the U.S. Binance and its founder Changpeng Zhao (CZ), are now fighting back to avoid panic and another bank run.
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