Bankman-Fried

Hey wait, we really didn’t mean to donate all that money.Illustration: ABSEE HOUSE (Shutterstock)Bankrupt crypto exchange FTX is asking politicians and charities that received millions in donations from its former CEO, Sam Bankman-Fried, to please give them back so it can pay off its debts. On Monday evening, FTX said some of those campaigns and organizations were eager to return the cash from the now-toxic crypto entrepreneur. The company disclosed that it had been approached by a number of people who had received…

House Financial Services Committee Chairwoman Maxine Waters told Reuters on Thursday that she is prepared to subpoena FTX founder Sam Bankman-Fried, if he does not agree to appear before the panel next week, and she is working out the best way to do it."We've made it clear that we want Sam at our hearing on December 13. If he does not cooperate, then we are prepared to subpoena," Waters said in an interview in the US Capitol.Regulators around the globe, including in the Bahamas where FTX is based and in the United…

In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange's software.He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off Alameda's assets if it was losing too much borrowed money.In a note explaining the change, the engineer, Nishad Singh, emphasised that FTX should never sell Alameda's positions. "Be extra careful not to liquidate,” Singh wrote in the comment in the…

The SEC alleges FTX’s founder Sam Bankman-Fried had conducted multiple years of fraud by lying to investors about customer funds being funneled between his crypto exchange and Alameda Research. Photo: Poetra.RH (Shutterstock)As more evidence comes to light about the collapse of Sam Bankman-Fried’s darling two-headed child—one face being the crypto exchange FTX and the other the hedge fund Alameda Research—recent allegations about SBF’s multi-billion crypto empire makes it clear his baby had been force-fed a diet of user…

John J. Ray III, CEO of FTX Group, testifies during the House Financial Services Committee hearing titled Investigating the Collapse of FTX Part I, on December 13, 2022 Photo: Nathan Howard (Getty Images) The House Financial Services Committee began one of its most dramatic hearings in recent memory Tuesday, while its main subject, disgraced crypto exchange founder Sam Bankman-Fried, sat behind bars in a cell nearly 1,000 miles away.Instead, lawmakers questioned court-appointed FTX CEO John Ray III who said he had never…

Sam Bankman-Fried, the embattled co-founder of bankrupt crypto exchange FTX, has retained New York defense attorney Mark Cohen to represent him. Sam Bankman-Fried, the embattled co-founder of bankrupt crypto exchange FTX, has retained New York defense attorney Mark Cohen to represent him, according to Bankman-Fried's spokesperson Mark Botnick. Cohen was previously part of the team that represented convicted sex trafficker Ghislaine Maxwell. He also successfully defended analyst Peter Black against a Securities and…

File photo of Sam Bankman-Fried testifying during a House Financial Services Committee hearing on digital assets on December 8, 2021.Photo: Tom Williams/CQ Roll (AP)Sam Bankman-Fried, the founder of FTX, says he donated equally to both Democratic and Republican politicians before his cryptocurrency platform filed for bankruptcy earlier this month, wiping out billions of dollars in customer deposits. And that fact is going to come as a real shock to right-wing political operatives on Fox News who’ve tried to claim…

John J. Ray III, the new FTX CEO in charge of handling the company’s bankruptcy, wrote this was the one of the worst cases he’s had to struggle through, calling it ‘a complete failure of corporate controls.’Photo: Sergei Elagin (Shutterstock)Just how bad do you have to be for a 40-year veteran of corporate undoings to call you one of the most faulty, most compromised entities he’s ever seen? John J. Ray III was tapped to handle the chapter 11 bankruptcy proceedings of FTX’s multiple major corporate entities. In his latest…

Photo: Alex Wong (Getty Images)Once upon a time, the cryptocurrency exchange FTX was a jewel of the web3 world. Now, in the span of a week, its reputation has transformed from shooting star to sinking ship. After admitting to mismanaging large amounts of customer money, the exchange’s founder and CEO, Sam Bankman-Fried (also known by his initials “SBF”) ignominiously stepped down, and the company filed for bankruptcy. Now, as the dust settles and the air clears, the adults in the room are trying to pick up the pieces and…

FTX disabled users from withdrawing their funds last week before finally declaring bankruptcy. U.S. officials are investigating founder Sam Bankman-Fried over potentially illicit transfers he made between FTX and his other firm Alameda.Photo: Leon Neal (Getty Images)Sam Bankman-Fried, who was once considered the real ”wunderkind” of the crypto world, is desperately trying to defend his public image despite federal law enforcement investigations and U.S. lawmakers closing in.Bloomberg reported Tuesday that the U.S. and the…