FTXs

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…

FTX founder Sam Bankman-Fried oversaw one of the biggest financial frauds in American history, a top federal prosecutor said in charging that the former chief executive stole billions of dollars from the crypto exchange’s customers while misleading investors and lenders.An indictment by the U.S. attorney’s office for the Southern District of New York, unsealed Tuesday, charges Mr. Bankman-Fried with eight counts of fraud. Prosecutors allege that he took FTX.com customers’ money to pay the…

NEW YORK — The U.S. government charged Samuel Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes on Tuesday, alleging he intentionally deceived customers and investors to enrich himself and others, while playing a central role in the company’s multibillion-dollar collapse. Federal prosecutors say that beginning in 2019 Bankman-Fried devised “a scheme and artifice to defraud” FTX’s customers and investors. He diverted their money to cover expenses, debts and risky…

Photo: Craig Barritt (Getty Images)Sam Bankman-Fried, the founder and former CEO of collapsed cryptocurrency exchange FTX, has been arrested in the Bahamas at the request of U.S. authorities.Officials in both the U.S. and the Bahamas confirmed Monday that Bankman-Fried (commonly known by his initials, SBF) had been taken into custody. So far, it’s unclear exactly what charges have been leveled against the disgraced tech executive. A sealed indictment related to the case will be unsealed tomorrow in the Southern District…

Sam Bankman-Fried, founder of the collapsed exchange FTX, always stood apart from other cryptocurrency entrepreneurs, and it wasn’t for his baggy shorts or taste in videogames.Both his parents, as Mr. Bankman-Fried would note in meetings with Washington policy makers, are professors at Stanford Law School. Their reputations were a credential to their son as he grew his crypto empire, even to those inclined to see little value in the industry. FTX failed last month, brought down after…

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…

LedgerX, one of the few solvent pieces of Sam Bankman-Fried’s crumbled FTX empire, is for sale and attracting interest. LedgerX, one of the few solvent pieces of Sam Bankman-Fried's crumbled FTX empire, is for sale and attracting interest from would-be buyers including crypto giants Blockchain.com and Gemini, according to people familiar with the matter. The unit, which is registered with the US Commodity Futures Trading Commission as a derivatives exchange, was a cornerstone of Bankman-Fried's efforts in…

A seasonal cryptocurrency pattern points to more losses for Bitcoin in December in the wake of the seismic collapse of the FTX exchange. A seasonal cryptocurrency pattern points to more losses for Bitcoin in December in the wake of the seismic collapse of the FTX exchange. The largest token sank 16% in November and over the past decade it always went on to have a weak December following declines in the prior month, according to data compiled by Bloomberg. The pattern was evident in 2018, 2019 and 2021, leaving an…

Rostin Behnam, chairman of the Commodity Futures Trading Commission, will testify at the first congressional oversight hearing on the spectacular implosion of crypto platform FTX. If one of the chief US financial watchdogs has his way, the collapse of Sam Bankman-Fried's FTX will shift into high gear a push to make his agency the main Bitcoin regulator and give it oversight of crypto exchanges.On Thursday, Rostin Behnam, chairman of the Commodity Futures Trading Commission, will testify at the first congressional…