Tag: FTX
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FTX founder Sam-Bankman-Fried convicted of defrauding cryptocurrency customers
[ad_1] FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before the U.S. Congress, a Super Bowl advertisement and dreams of a future run for president — hit a new bottom Thursday when a New York jury convicted him of fraud in a scheme that cheated…
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Sam Bankman-Fried found guilty of defrauding FTX customers
[ad_1] His defence lawyers, who objected to several rulings by Judge Kaplan before and during the trial, are expected to appeal the verdict. Once the darling of the crypto world, Bankman-Fried – who was known for his mop of unkempt curly hair and for wearing shorts and t-shirts rather than business attire – instead joins…
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FTX founder Sam Bankman-Fried is guilty of fraud
[ad_1] Let’s be honest: The facts are bad for Sam Bankman-Fried. The prosecution, in the closing statement delivered by Nicolas Roos (pronounced “Rose”, though he won’t correct you if you get it wrong, as Judge Lewis Kaplan did for most of the trial) today, went through a lot of contemporaneous written evidence that suggested that…
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Former FTX Lobbyist Contrasts Sam Bankman-Fried’s House Testimony With His Dangerous Secrets
[ad_1] The truth, according to prosecutors and FTX insiders who have testified after pleading guilty, was very different: poor financial recordkeeping and improper siphoning of customer money to Bankman-Fried’s nominally separate trading firm, Alameda Research. And once that started coming to light, the company fell apart in a rapid, 2008-style collapse. [ad_2] Source link
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Caroline Ellison Starts Day 3 of Testimony Against Former FTX Crypto Titan
[ad_1] “Bankman-Fried relied on Ellison and he trusted her to act as the CEO and manage the day-to-day,” Cohen said in his opening statement last week. “… As the majority owner of Alameda, he spoke to Ms. Ellison, the CEO, and he urged her to put on a hedge, something that would protect against such…
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Transcript: Michael Lewis on SBF & FTX
[ad_1] The transcript from this week’s, MiB: Michael Lewis on SBF & FTX, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ This is Masters in…
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What to Expect When Caroline Ellison Takes Stand in FTX Founder’s Sam Bankman-Fried’s Trial
[ad_1] Ellison was far from an unwitting front-person during her time at Alameda, said Mark Cohen, Bankman-Fried’s lead attorney, in his opening argument in defense of Bankman-Fried. Instead, she was firmly in control of the reins at the trading fund – and her poor leadership, according to Bankman-Fried’s lawyers, is what ultimately placed the firm…
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FTX Customers, Investors Will Testify Against Sam Bankman-Fried, DOJ Says
[ad_1] “To obtain likely less than 30 minutes of testimony from overseas FTX customer witnesses, however, requires, for at least some countries, coordinating with local authorities, arranging multi-day travel itineraries to accommodate varying time changes and travel delays, and incurring significant costs associated with such arrangements. Notwithstanding those hurdles, the Government is in the process…
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Crypto’s Wild D.C. Ride: From FTX at the Fed to a Scramble for Access
[ad_1] Cryptocurrency lobbyists were riding so high in early 2022 that an FTX executive felt comfortable directly emailing Jerome H. Powell, the chair of the Federal Reserve, to ask him to meet with Sam Bankman-Fried, the soon-to-be-disgraced founder of the cryptocurrency exchange. It worked. “The day that would work for me is February 1,” Mr.…
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Coinbase (COIN) Has Recently Held Talks to Buy FTX Europe: Fortune
[ad_1] Derivatives, which are financial contracts that derive their value from an underlying asset such as bitcoin (BTC), can be lucrative for both traders and the exchanges that serve them. FTX Europe, like other European exchanges, offered a range of derivatives products, but it also was the only firm with a license to offer perpetual…