BankmanFrieds

Bankrupt cryptocurrency exchange FTX sued one of its former top lawyers, accusing him of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company.The complaint, filed on Tuesday in US Bankruptcy Court in Delaware, describes Daniel Friedberg, a former chief compliance officer at FTX and general counsel of its related crypto hedge fund Alameda Research, as a "fixer" for Bankman-Fried and other FTX executives who enabled the "wholesale raiding" of customer funds.…

FTX, the defunct cryptocurrency exchange, is finally being forced to publicly detail its spending habits in the company’s ongoing Chapter 11 bankruptcy proceedings. And the resulting documents are illuminating.The crypto exchange, founded and formerly owned by fallen blockchain golden boy, Sam Bankman-Fried, spent hundreds of thousands of dollars on extraneous food and fun purchases over the course of just a couple of months—presumably for employees. Previously unsealed court filings have shown that the debtors owed by…

A federal judge doesn’t think proposed changes to Sam Bankman-Fried’s bail conditions will be enough to address the disgraced FTX founder’s messy online behavior while awaiting trial, according to a Friday Reuters report.Per the outlet, Judge Lewis Kaplan said he had continuing concerns about Bankman-Fried’s access to technology and communication devices as the former crypto golden boy is out on bond and residing at his parent’s multi-million dollar California home. Recently suggested, additional tech restrictions…

A US judge is expected on Friday to consider what restrictions Sam Bankman-Fried should face while free on bail, and whether the FTX cryptocurrency exchange founder's Oct. 2 fraud trial should be pushed back.Bankman-Fried is fighting to stay out of jail after US District Judge Lewis Kaplan raised concerns last month that the 31-year-old former billionaire wunderkind was testing the limits of his $250 million bail package by communicating in ways that could not be monitored. Federal prosecutors in Manhattan have charged…

Photo: AP News (AP)Lawyers representing FTX founder Sam Bankman-Fried announced on Wednesday that his October trial might need to be delayed. The lawyers said they were still waiting for important documents to be handed over and claimed the hold-up could hinder their ability to review the evidence and create a proper defense.Bankman-Fried’s lawyers, Mark S. Cohen and Christian R. Everdell, sent a letter to U.S. District Judge Lewis Kaplan arguing in favor of a delay. They told the judge that federal prosecutors had not…

US prosecutors urged a judge to impose tight restrictions on indicted FTX cryptocurrency exchange founder Sam Bankman-Fried's internet use, arguing existing conditions "leave too much room for inappropriate conduct." Separately, court documents earlier on Wednesday revealed that a former Stanford University law school dean and a computer science researcher at the school co-signed Bankman-Fried's bond alongside his parents. He is out on $250 million bond after pleading not guilty to fraud charges stemming from now-bankrupt…

Early last year, Sam Bankman-Fried told an FTX all-hands meeting about an addition to the company’s staff.It wasn’t a head of accounting. It wasn’t a risk manager. Instead, it was a psychiatrist who would serve as coach for stressed-out employees at the fast-growing crypto exchange. Dr. George Lerner introduced himself on the video meeting and encouraged workers to consult with him, meeting attendees recalled. FTX collapsed in November, brought down by…

Shortly before Christmas, FTX founder Samuel Bankman-Fried, indicted on federal charges of fraud and money laundering, was released on a $250-million bail bond that was secured by his parents’ Palo Alto-area home. The size of the bail bond — 25 times bigger than Bernie Madoff’s — garnered considerable attention. The prosecution termed it “the largest ever pretrial bond.” What hasn’t drawn notice is the fact that Joseph Bankman and Barbara Fried, who are professors at Stanford Law School, are not typical homeowners. Their…

A Sam Bankman-Fried trip to the Middle East intended to raise capital for FTX hastened the collapse of the cryptocurrency exchange, according to Anthony Scaramucci. Scaramucci told Business Insider he believes the October Mideast jaunt he took with Bankman-Fried led to the “immediate downfall” of FTX, because the co-founder spent much of their trip in Saudi Arabia criticizing rival crypto exchange Binance and its founder CEO Changpeng “CZ” Zhao. That prompted Zhao to sell a large portion of his holdings in…

Just before crypto markets plunged last year, Sam Bankman-Fried ‘s hedge fund made a $1 billion bet on Genesis Digital Assets, a Cyprus-registered bitcoin miner rigged to consume a small city’s worth of electricity in Kazakhstan.The cash injection from Mr. Bankman-Fried’s Alameda Research LLC was supersized even for the red-hot crypto startup world, and it dwarfed the FTX founder’s other investments in private companies. Genesis Digital is now one of the largest assets in the FTX bankruptcy,…