Bankrupt crypto trading platform, FTX Derivatives Exchange is doing all it can to claw back all the funds that were donated under the leadership of its founder and former CEO, Sam Bankman-Fried (SBF). In one of the latest moves by the digital currency trading firm, confidential letters have been sent to political beneficiaries seeking a refund.

The firm confirmed sending the letters, with February 28 placed as the deadline for the politicians to refund the sum. When FTX was still in its prime, the trading platform was a known mega-donor to US election campaigns through Political Action Committees (PACs). Tagged as one of the biggest donors to President Joe Biden’s campaign, FTX under Sam Bankman-Fried has spent almost $93 million in supporting choice candidates across political lines.

The exchange in its Press Release revealed that the FTX donations might have been made by either the disgraced former CEO or any of the firm’s subsidiaries. The announcement reads.

FTX Debtors are sending confidential messages to political figures, political action funds, and other recipients of contributions or other payments that were made by or at the direction of the FTX Debtors, Samuel Bankman-Fried, or other officers or principals of the FTX Debtors (collectively, the “FTX Contributors”). These recipients are requested to return such funds to the FTX Debtors by February 28, 2023,.

The company said the deadline placed is a result of an earlier notice pushed out back in December last year in which it request such political donations to be returned voluntarily. 

FTX Ready to Seek Legal Option to recoup Donations

In the call for a refund of the donated funds, FTX said it is ready to explore legal options should the beneficiaries of the political donation refuse to make the refunds as demanded. According to the firm, it will also seek interest in the donated funds starting from the date the legal action commences.

The trading platform also said it reserves the right to request the repayment of the donations even though the beneficiaries have sent the funds to charities or other third-party beneficiaries. The announcement reads,

To the extent such payments are not returned voluntarily, the FTX Debtors reserve the right to commence actions before the Bankruptcy Court to require the return of such payments, with interest accruing from the date any action is commenced, [..] Recipients are cautioned that making a payment or donation to a third party (including a charity) in the amount of any payment received from a FTX Contributor does not prevent the FTX Debtors from seeking recovery from the recipient or any subsequent transferee.

Journey to repay creditors

Though the process may look slow to creditors whose funds are locked up on FTX, it is still relatively faster than other known bankruptcies such as that of Celsius Network and Voyager Digital. 

When it filed for bankruptcy, FTX declared it has a total number of creditors ranging from 100,000 to 1 million. The journey to repay these investors has been bumped by discoveries of misappropriated funds. At the moment, the current CEO John Ray III is trying to pool this together and with targeted proposed sales of some subsidiaries, he plans to make full repayment as soon as possible.

Der Beitrag FTX asks politicians to return donations received by SBF for starting to refund customers – Report erschien zuerst auf Crypto News Flash.

Andrew Dietderich, an attorney for now bankrupt cryptocurrency exchange FTX, has revealed further details of the events that led to the firm’s demise.

According to a New York Post report, Dietderich told the Delaware bankruptcy court that FTX’s collapse ties back to former CEO Sam Bankman-Fried. SBF, as he is commonly called, ordered FTX co-founder Gary Wang to create a “secret” backdoor that allowed his hedge fund Alameda Research to borrow funds.

Using this, Alameda borrowed $65 billion of FTX clients’ money without their permission, according to Dietderich’s testimony. His testimony marks the first time an FTX official has placed a dollar value on the FTX-Alameda line of credit.

“Mr. Wang created this backdoor by inserting a single number into millions of lines of code for the exchange, creating a line of credit from FTX to Alameda, to which customers did not consent. And we know the size of that line of credit. It was $65 billion,” Dietderich said.

During the hearing Adam Landis, a Landis Rath & Cobb attorney representing FTX, also shed light on what Alameda did with the line of credit. Landis told Judge John Dorsey that Alameda used the FTX customer funds to buy planes and houses, host parties, and make political donations.

The funds also went to personal loans for Alameda founders, as well as to sponsoring FTX’s marketing campaign. Court filings also reveal that SBF spent nearly $40 million on hotels, travel, food, and luxury items in nine months.

FTX employees in the Bahamas also had access to perks including free travel to anywhere in the world. While millions of dollars were spent on meals and entertainment just a few months before FTX filed for bankruptcy in November 2022.

However, the attorneys have revealed that funds tracing and recovery efforts are advancing. FTX has recovered around $5 billion in cash and liquid crypto assets with which it intends to repay creditors. The recovered funds exclude assets confiscated by the Securities Commission of the Bahamas, and also illiquid crypto tokens.

Can SBF beat the charges?

The testimony echoes allegations made against FTX and Alameda executives by the Commodities Futures Trading Commission (CFTC). In December, the U.S. derivatives market regulator accused Wang of creating a “virtually unlimited” secret line of credit between FTX and Alameda.

The CFTC also filed charges against Alameda Research’s former CEO Caroline Ellison at the time. Notably, the duo pleaded guilty to the charges according to a statement by attorney Damian Williams, the U.S. Attorney for the Southern District of New York (SDNY).

Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang pic.twitter.com/u1y4cs3Koz

— US Attorney SDNY (@SDNYnews) December 22, 2022

Regardless, SBF has continued to profess his innocence as he awaits the trial scheduled for October 2023. He wrote in a lengthy blog post that he did not steal funds or stash billions away. He added that all his assets “were and still are utilizable to backstop FTX customers.”

Der Beitrag FTX: SBF asked CTO to create ‘secret backdoor’ to trade with billions of $ of customer funds – Report erschien zuerst auf Crypto News Flash.

The criminal trial of executives of the collapsed cryptocurrency exchange FTX continues in the U.S. In the latest turn of events FTX former CEO Sam Bankman-Fried has pleaded not guilty to all charges leveled against him.

According to a Reuters report, the former CEO entered the plea during the Jan. 3 hearing in Manhattan federal court. The 30-year-old, popularly known by his initials SBF, is facing eight charges including wire fraud, securities fraud, and violations of campaign finance laws. If convicted, he could face up to 115 years imprisonment.

During the hearing, prosecutors reiterated that SBF cheated FTX investors and users in what they call an ‘epic’ fraud. He is accused of looting FTX customers’ deposits to support his Alameda Research hedge fund.

Customer funds were also used and laundered through political donations, charitable donations and a variety of venture investments,

Danielle Sassoon, a federal prosecutor, said at the hearing.

Sassoon hinted that the government has amassed hundreds of thousands of evidence documents against SBF. The prosecutors intend to turn over the documents close to the trial date which has been set for Oct. 2, 2023. According to Sassoon, the trial could last up to four weeks.

Additionally, Sassoon accused SBF of recently carrying out transfers of Alameda-related crypto assets. In response, Mark Cohen, Bankman-Fried’s lawyer, said his client did not carry out the Alameda transfers.

However, the accusation prompted the U.S. District Judge, Lewis Kaplan, to impose a new bail condition on SBF. Judge Kaplan stated that SBF cannot access FTX or Alameda assets while on bail.

Can SBF beat the criminal charges?

His Dec. 22 release on a $250 million bond already stipulates that he will be subject to electronic monitoring. He is also required to live with his parents, Joseph Bankman and Barbara Fried, who are both professors at Stanford Law School in California.

Meanwhile, in the latest court filings attorneys asked to keep the identities of the other backers of SBF’s bail bond secret. The court granted the request noting that his parents have been facing harassment that could be transferred to the other backers.

Despite his pleading not guilty to the criminal charges, the net still seems to be closing in on the MIT graduate. Prosecutors have already secured guilty pleas from FTX co-founder and former CEO Gary Wang, as well as former Alameda CEO Caroline Ellison.

The two executives agreed to responsibility for the fraud-related charges and have agreed to cooperate with prosecutors. This means that they could also likely testify during the trial. Similarly, the current CEO and Chief Restructuring Officer of FTX John Ray has revealed that the exchange extensively commingled user funds with Alameda’s assets.

Der Beitrag FTX CEO SBF faces 115 years in prison but pleads not guilty – What higher power protects him? erschien zuerst auf Crypto News Flash.

Sam Bankman-Fried (SBF), the former Chief Executive Officer of the now-defunct FTX Derivatives Exchange is reportedly planning to plead not guilty to the fraud charges Federal Prosecutors have levied against him in his next hearing. 

As reported by Reuters, the hearing, scheduled for Tuesday, January 3, will see SBF backpedal on the setup from his two other former executives Caroline Ellison and Gary Wang, both of whom have already pleaded guilty to aiding the 30-year-old in defrauding FTX customers, and investors.

SBF’s life post-bankruptcy

Since FTX filed for bankruptcy last year, a series of events keep emerging as the media generally pored over the proceedings in which about a million customers are waiting to be paid. The exchange’s former boss saw a tumultuous 4th quarter after being imprisoned in the Bahamas before being extradited to the United States.

In the States, Sam Bankman-Fried was placed on an expensive bail bond of $250 million and he remains on house arrest in his parent’s home in California. Despite earlier speculations that he was billed to spend the Christmas and New Year Holidays in jail, his release shows the leniency of the US Justice system.

While Reuters was sure of its sources concerning his plans to plead not guilty to the ongoing case, only the proceeding will show how much innocence SBF will claim at the end of the day. The preliminary not-guilty plea may still be changed along the line when the proceedings progress, however, the notion further hangs Caroline and Gary in the balance for masterminding the collapse of the platform.

The community reacted to the claims that SBF will plead not guilty with some in the community noting that his not-guilty plea will not reduce the years he will be sentenced behind bars for. 

Twitter User, @MaskedEcon said;

I guess he wants more time in his parents basement before going to prison for decades. Might as well take a gamble on a trial with the years he is facing in prison. A plea deal would still be decades behind bars,

In the crypto ecosystem of today, the ongoing SBF trial is one of the most followed proceedings despite other high-profile bankruptcy cases involving Celsius Network and Voyager Digital still ongoing.

Refuting wallet activity claims

One notable event in FTX post-bankruptcy is the unexplainable movement of funds from some of Alameda Research’s wallets. From the more than $370 million hacking in November last year to the recent funds worth almost $700,000 flagged by Arkham Intelligence, the community’s speculations that SBF has a hand in these events have continued to rise.

Taking to Twitter, SBF has refuted these claims noting that he currently has no access to these wallets in question.

“None of these are me.  I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore,” he said in his tweets, adding that;

believe it is likely the case that various legit legs of FTX have the ability to access these funds; hopefully that’s what’s happening here.  If not, hopefully one steps in soon to do so.  I would be happy to help advise regulators on this if any wanted.

Despite his innocent stance, Bloomberg reports that US Prosecutors are actively investigating the fund’s movement.

Der Beitrag FTX Ex-CEO SBF not guilty and US authorities to probe Alameda wallet transfers – Monster saga update erschien zuerst auf Crypto News Flash.

The crypto market bloodbath does not spare even the strongest among the industry players. Some of the wealthiest investors have witnessed their net worth plummet in 2022. Founders and key investors are seeing their wallets drained by a bear market and a series of bankruptcies. According to a Forbes report, the largest crypto investors have collectively lost about $116 billion in personal wealth since the beginning of March 2022.

Source: Forbes

The Biggest Losers

In addition, the report indicates that the loss represents the combined total equity of 17 influential people in the digital asset space. However, of the total number of individuals affected, more than 15 have lost over half of their funds since the start of March, with ten names leaving the list of billionaires in the crypto industry. Sam Bankman-Fried (SBF), the former FTX boss, is one of the biggest losers as his net worth fell from $24 billion within this time frame to zero in December, as revealed by the Forbes report.

With the spectacular collapse of the FTX empire, reports indicate that SBF is likely without any funds to show for his time. Of the losers, none is more profound than that Changpeng Zhao (CZ), who is reported to have suffered personal losses more than others. At the beginning of March, CZ’s stake in Binance was about 70 percent with a valuation of $65 billion, which has now dropped to $4.5 billion in December.

Furthermore, Forbes revealed that Brian Armstrong, Coinbase’s CEO, had a net worth of $6 billion in March, which has significantly decreased to $1.5 billion this month. Chris Larsen, Ripple’s co-founder, saw his worth drop to $2.1 billion from $4.3 billion. In comparison, Gemini founders Cameron and Tyler Winklevoss are now worth $1.1 billion each, down from their previous $4 billion net worth as of March 2022.

Former Crypto Billionaires and Market Uncertainty

The latest Forbes report shows the scary events occurring in the digital asset industry for months, with billions of dollars worth of assets down the drain.

Apart from those that lost a significant portion of their net worth, a handful of other industry players no longer belong to the billionaire category. Michael Saylor, founder of MicroStrategy, Devin Finzer, and Alex Atallah, owners of the popular NFT marketplace, OpenSea, and Fred Ehrsam of Coinbase, are notable names that no longer belong to the crypto billionaire club.

It is difficult to predict with accuracy what will happen to the crypto market in the coming year due to the volatile nature of virtual assets. In addition, the liquidity crisis, worsened by the FTX collapse, has left many exchanges on the brink of bankruptcy or already bankrupt.

Nevertheless, the crypto market bear trend is likely to continue, given the impact of the FTX debacle on investors’ confidence in the industry. However, given the regulatory challenges that have been part of the broader digital ecosystem, a quick positive turn of events is still far away.

Der Beitrag Changpheng Zhao, SBF, Brian Amstrong, Chris Larsen, and Barry Silbert lost $116,000,000,000 – Report erschien zuerst auf Crypto News Flash.

• Statements from US prosecutors have disclosed that Caroline Ellison, the former CEO of FTX’s sister company Alameda Research, and Gary Wang, the co-founder of FTX, pleaded guilty to charges relating to securities violations.

Former CEO of the bankrupted FTX empire Sam Bankman-Fried was arrested in the Bahamas on charges of orchestrating fraud and masterminding the illicit movement of customers’ funds. On Wednesday, his extradition was cleared and brought to the U.S. federal court in New York on Thursday.

According to the latest reports, SBF has been released on bail in his recent appearance at the court. His bail was set at $250 million. The bail was reportedly secured by the equity in his “parents’ Palo Alto, California, home”. In addition, a list of requirements was added to set him free while facing the charges. 

SBF has been ordered not to leave the house unless for exercise. He has also been asked to go through substance abuse and mental health treatment. In addition, he has been banned from creating new lines of credit and facilitating financial transactions of more than $1000. When asked whether he agrees to these conditions, SBF nodded. It is reported that the judge asked him to answer aloud, to which he said “yes, I do” after looking at his lawyer. He would be fitted with a tracking device. According to Judge Gabriel Gorenstein, this would provide enough assurance that SBF would stay put, and his fame would not make it easy for him to flee. The court also believes that SBF is not a threat to anyone since his crimes were financial. 

Former CEO of FTX sister company pleads guilty

Statements from US prosecutors have disclosed that Caroline Ellison, the former CEO of FTX’s sister company Alameda Research, and Gary Wang, the co-founder of FTX, pleaded guilty to charges relating to securities violations. According to U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, both Ellison and SBF manipulated the price of FTT. 

Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards. Until crypto platforms comply with time-tested securities laws, risks to investors will persist.

The guilty plea of Ellison and Wang is likely to play a huge role in the case as they admitted that the senior management was aware of lawbreaking in moving customers’ funds between the two firms. Ellison has reportedly unsealed a plea agreement that says that she will not face further criminal prosecution except for potential tax violations as long as she helps the Southern District of New York and any other law enforcement agency involved in the case with the investigation. Ellison has forfeited her travel documents with her bail set at $250,000. Ellison and Wang have settled enforcement actions with SEC and Commodity Futures Trading Commission (CFTC).

Der Beitrag FTX CEO SBF released on $250M bail with customer funds? Crypto Community is on fire erschien zuerst auf Crypto News Flash.

Former Alameda Research CEO Caroline Ellison, as well as FTX co-founder Gary Wang, have pleaded guilty to charges tied to FTX’s collapse. The development was revealed by Attorney Damian Williams, the U.S. Attorney for the Southern District of New York (SDNY).

In his video statement, Attorney Williams did not specify what the charges they pleaded guilty to are. However, he notes that the charges are in connection to their role in the fraud that contributed to FTX’s collapse. He also added that the two executives are cooperating with prosecutors.

Ilan Graff, a lawyer for Wang, told Reuters that the FTX co-founder has accepted responsibility for his actions. He also takes his obligations as a cooperating witness seriously, Graff added. An attorney for Ellison was yet to respond.

Meanwhile, Williams also gave an update on the status of the disgraced former CEO of FTX Sam Bankman-Fried (SBF). He announced that SBF is now in the custody of the FBI in the Bahamas. He will be transported to the U.S. to stand trial for multiple charges once his extradition processing is complete.

Read more: FTX CEO SBF going to jail, but wants to attack Binance CEO and others from crypto market

The U.S. attorney took the chance to give a stark warning to all other participants in the misconduct committed by FTX and Alameda Research. He said:

“If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it. We are moving quickly and our patience is not eternal.”

Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang pic.twitter.com/u1y4cs3Koz

— US Attorney SDNY (@SDNYnews) December 22, 2022

What’s next for the FTX executives?

The latest developments are the culmination of weeks of swift legal proceedings. SBF was arrested earlier this month in the Bahamas after receiving notification that the SDNY had filed criminal charges against him.

The New York Times reports that SBF agreed to extradition voluntarily. This was due to the U.S. agreeing to grant him bail with house arrest. Going by Business Insiders’ coverage, SBF’s charges include two counts of wire fraud conspiracy, two counts of wire fraud, and one count of conspiracy to commit money laundering. SBF could face up to 115 years imprisonment if convicted of all charges.

Meanwhile, the SEC and the CFTC have also announced charges against Gary Wang, and Caroline Ellison. Both regulators accuse the duo border of colluding with SBF to commit multi-year fraud through FTX and Alameda.

Additionally, the SEC has charged FTX with selling FTT as an unregistered security in a new filing. The complaint is bound to have far-reaching consequences for the crypto industry if it is upheld in court.

Der Beitrag FTX news: Caroline Ellison & Gary Wang plead guilty, SBF extradited to FBI erschien zuerst auf Crypto News Flash.

The founder of the now-bankrupt FTX crypto exchange, Sam Bankman-Fried, SBF, has indicated that he plans to establish a new business that will enable him to repay all FTX creditors. While speaking at a recent BBC interview, FTX’s former CEO said he would do anything to make that happen.

He further said he started thinking about what he and his team could do to help users who haven’t received much of their money back. “I believe I owe it to FTX users to do the right thing for them,” SBF added. Based on the exchange’s bankruptcy filing last month, FTX’s creditors might be over a million.

Hence, FTX would repay its creditors between $10 billion and $50 billion. In one of his statements during his media apology tour, SBF argued that he wouldn’t commit fraud deliberately. But then, he acknowledged that FTX’s failure proved that he wasn’t as competent as he had imagined.

House Committee adds SBF as a witness

In a related development, the US House Committee on financial services has officially confirmed that SBF would be a witness in the December 13 hearing on the FTX saga. The confirmation follows several days of argument and counter-arguments between the FTX founder and Maxine Waters, a US House representative.

SBF’s name is among the witnesses listed to participate in the hearing, known as “Investigating FTX’s Collapse, part 1.” Furthermore, FTX’s new CEO (John Ray) is also listed to appear at the hearing. The list is being updated regularly as the FTX founder’s name was included on December 11, while ray’s name has been on the list since December 9.

However, whether SBF would appear as a witness in the hearing is uncertain, given that he failed to confirm that he would appear at a December 14 Senate committee hearing on the FTX crash. Meanwhile, the FTX founder failed to respond to the Senate committee’s testimony request.

The Senate committee hearing regarding the FTX collapse is slated for December 14. Committee chair Sherrod Brown warned SBF in a letter dated December 7 that the Senate won’t hesitate to issue a subpoena to compel SBF to testify. In an updated statement two days later, Brown and Senator Pat Toomey confirmed that SBF never responded to the testimony request.

However, the statement adds that the committee will make all efforts to ensure the appearance of SBF at the hearing. On December 9, Toomey tweeted that he’s happy SBF is among the list of witnesses at the House hearing. Hence, he is convinced that the former FTX CEO would appear at the Senate hearing, which comes the next day.

Time will tell whether SBF’s repayment of FTX creditors or his appearance at the Senate and House committees’ hearing will positively impact the crypto market.

Der Beitrag SBF will start a new business to repay all FTX and Alameda customers – Will it save the crypto market? erschien zuerst auf Crypto News Flash.

Last week on Friday, December 2, Congresswoman Maxine Waters invited FTX founder Sam Bankman-Fried to testify. The goal was to let the public understand what led to the collapse of one of the world’s largest crypto exchanges in just a week’s time.

In a joint tweet from Maxine Waters, and the U.S. House Committee on Financial Services, she wrote:

@SBF_FTX, we appreciate that you’ve been candid in your discussions about what happened at #FTX. Your willingness to talk to the public will help the company’s customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th.

SBF has responded to this, however, the chances of him making an appearance before Congress, are unlikely on the 13th. Interestingly, the disgraced FTX founder has been making multiple public appearances over the last week. 

SBF said that he’s himself trying to figure out yet on what led to the collapse of the exchange. However, he added that he would be open to testifying in the future. Responding to Maxine Water’s tweet, SBF wrote:

Rep. Waters, and the House Committee on Financial Services: Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain. I’m not sure that will happen by the 13th. But when it does, I will testify.

Rep. Waters, and the House Committee on Financial Services:

Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.

I'm not sure that will happen by the 13th. But when it does, I will testify. https://t.co/c0P8yKlyQt

— SBF (@SBF_FTX) December 4, 2022

Coinbase CEO slams FTX and SBF

While Sam Bankman-Fried has been recently making some public interviews, he recently said that the $8 billion hole in FTX’s balance sheet was due to improper accounting measures. While it is quite out there in the open that FTX was moving customers’ funds to its sister concern Alameda Research, SBF seems to be doing some covering up now.

Coinbase chief Brian Armstrong slammed the disgraced FTX founder over his recent claims. Armstrong said that there was no way that billions of dollars simply slipped out of SBF’s notice. In a message on Twitter, the Coinbase chief wrote:

I don’t care how messy your accounting is (or how rich you are) – you’re definitely going to notice if you find an extra $8B to spend. Even the most gullible person should not believe Sam’s claim that this was an accounting error. It’s stolen customer money used in his hedge fund, plain and simple.

There have been serious allegations that SBF and his team transferred $10 billion worth of customer funds from the FTX accounts, to Alameda Research. However, SBF said that he didn’t “knowingly commingle funds”.

Der Beitrag SBF not sure if he attends court on 13th, Coinbase CEO doesn’t believe story of missing $8B erschien zuerst auf Crypto News Flash.

The controversy around Sam Bankman-Fried (SBF as he is also known) keeps building up as the former FTX CEO is still set to speak at the New York Times’ DealBook Summit 2022 later today, Nov. 30.

Andrew Ross Sorkin, NYT journalist, and CNBC co-anchor stated in a tweet that the speaking engagement will not be canceled as there are a lot of important questions to be asked and answered.

“A lot of folks have been asking if I would still be interviewing SBF at the NYT Dealbook Summit on Nov 30. The answer is yes. There are a lot of important questions to be asked and answered. Nothing is off-limits. Looking forward to it,” he said.

A lot of folks have been asking if I would still be interviewing @SBF_FTX at the @nytimes @dealbook Summit on Nov 30…

The answer is yes. 👇

There are a lot of important questions to be asked and answered.

Nothing is off limits.

Looking forward to it… https://t.co/lShAqXLKGS

— Andrew Ross Sorkin (@andrewrsorkin) November 23, 2022

In response to the development, the crypto community has expressed its strong disgruntlement with both the media outlet and other ‘powers that be such as law enforcement agents. The community has argued that SBF has no business speaking at conferences when he should be behind bars for defrauding customers of billions of dollars.

One critic, popular American communications and public affairs strategist who worked on Republican political campaigns, Steve Schmidt, wrote that the way things are being handled in the case indicates that SBF was an agent of the government.

Schmidt added that SBF’s continued inclusion in the DealBook Summit at which other speakers include the CEOs of Meta and BlackRock, as well as the U.S. Treasury Department secretary and the president of Ukraine is a perfect example of the protection that the disavowed crypto founder enjoys from the government. Schmidt asserted;

A perfect example would be the marquee The New York Times DealBook Summit, scheduled for November 30, 2022, and sponsored by Accenture. They have come together in partnership to monetize the gathering of the notorious Sam Bankman-Fried, who was referred to by crypto players as the ‘J.P. Morgan of their times.’ He was featured on the August 1, 2022 edition of Fortune magazine and celebrated as likely to be Earth’s first trillionaire,

U.S. courts already going after SBF

Calls for SBF’s prosecution, meanwhile, have been yielding results in the U.S. The Texas State Securities Board’s (SSB’s) director of enforcement, Joe Rotunda has served a Notice of Hearing to SBF.

The document states that SBF is to attend a hearing scheduled for Feb. 2, 2023. The Texan securities regulator says the hearing will look into whether SBF and FTX.us have violated the state’s securities laws. The regulator also alleges that FTX.us offered unregistered securities to Texans through its ‘EARN’ product.

Der Beitrag SBF ordered to court but attends meeting with Meta, FED, BlackRock – Community upset with institutions erschien zuerst auf Crypto News Flash.