FTX Trading on Thursday sued founder Sam Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion they allegedly misappropriated before FTX went bankrupt. The complaint filed in Delaware bankruptcy court also names as defendants Caroline Ellison, who led Mr. Bankman-Fried’s Alameda Research hedge fund; former FTX technology chief…
Sam Bankman-Fried Attorneys Ask Judge to Remove Security Measures for ‘Close Friends’ Visiting
Lawyers for Sam Bankman-Fried on July 13 asked the judge overseeing his criminal prosecution to allow “close friends and colleagues” of the former FTX founder’s parents to visit him at his home without a security guard having to be present or conduct security checks. Mr. Bankman-Fried was extradited to the United States from the Bahamas in…
Tom Brady Lost $30M in FTX Collapse
Tom Brady lost millions in the collapse of cryptocurrency company FTX, for which he served as an “ambassador,’ The New York Times reported Friday. Under an agreement the retired NFL quarterback made with FTX in 2021, he received $30 million in now-worthless stock for his work pitching the company in television ads and at its…
Bankman-Fried Loses Bid for Documents From Former FTX Law Firm
NEW YORK—A U.S. judge on Friday denied Sam Bankman-Fried’s push to get a law firm that advised his now-bankrupt FTX cryptocurrency exchange to hand over documents he says can help him beat fraud charges. The onetime billionaire, who has pleaded not guilty to charges of stealing from FTX customers and lying to investors and lenders,…
Bankman-Fried to Get 2nd Trial on Bank Fraud, Bribery Counts
June 15, 2023
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NEW YORK—A U.S. judge on Thursday granted a request from prosecutors to try some of their charges against Sam Bankman-Fried in a second trial next year separate from his scheduled Oct. 2 trial over the collapse of now-bankrupt cryptocurrency exchange FTX. Bankman-Fried, 31, will be tried on March 11, 2024, on five counts, including bank…
FTX Celebrity Promoters Say Crypto Investors Cannot Sue Over Accounts
Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange’s collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States, which required the…
NTD Business (April 13): FTX Recovers $7.3 Billion in Assets; US Producer Prices Unexpectedly Fall in March
Some welcome news for inflation: U.S. wholesale producer prices fell unexpectedly in March. What contributed to the drop? Twitter takes a step closer to becoming the “everything” app. It’s now teaming up with a stock trading company. Amazon cranks up AI competition against Microsoft and Google, launching a set of tools to help companies develop…
Bankrupt Crypto Exchange FTX Has Recovered $7.3 Billion in Assets
Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, the company’s attorney said on Wednesday at a U.S. bankruptcy court hearing in Delaware. FTX attorney Andy Dietderich said the company is starting to think about its future after months of…
FTX Failure Rooted in ‘Hubris,’ ‘Greed,’ Debtors Report Says
Failed crypto exchange FTX Trading Ltd. lacked a control framework, and collapsed due to “hubris, incompetence, and greed,” according to a new review of FTX, which mentioned that the previous management “stifled dissent” and “joked internally about their tendency to lose track of millions of dollars in assets.” The review was published as an interim…
What Is This FTX/CCP Connection?
Commentary There has always been a great deal of fishiness surrounding the blowup of the crypto exchange FTX and its founder Sam Bankman-Fried. The company seemed to appear out of nowhere. In the crypto industry, in which I’ve been hanging around for 10 years, he was a complete unknown. And yet his company quickly became…
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