After weeks of speculation as to whether former billionaire, now hapless participant, Sam Bankman-Fried would be arrested for fraud surrounding FTX, the cryptocurrency exchange he ran into the ground, the mystery is over. The crypto exchange founder surrendered to Bahamian custody last week and is now awaiting extradition to the United States. Following a grand…
FTX Dust Settles, Soiling Everyone
December 19, 2022
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The SBF Scandal: The Players and the Money
News Analysis The complexities of the FTX scandal with Sam Bankman-Fried at the helm boggles the mind. Unlike the Madoff scandal, which was incredibly simple, the funding, influence, and political networks sounding the $32 billion collapse of FTX is byzantine by design. Just have a look at the org chart of the company to get…
Two Antithetical Billionaires
Commentary Before the midterm November elections, Sam Bankman-Fried was a left-wing billionaire heartthrob. He properly grew up on the Stanford campus, where his parents were well-known left-wing activist law professors. He went to a tony prep school and on to MIT. Bankman-Fried mocked society’s bourgeois capitalist conventions by dressing and looking like a slob in…
FTX Collapse Heightens Anxiety Over Binance
After the FTX collapse, Binance co-founder and CEO Changpeng Zhao is grappling with challenges on numerous fronts. As the industry deals with the high-profile fallout from FTX, billions of dollars are fleeing Binance, one of the world’s largest cryptocurrency exchanges. Further, Zhao has recently come under fire for being responsible for the FTX’s collapse, and…
Senate Panel Told FTX Crash Not a ‘One-Off’ Amid Debate Over Tighter Crypto Regulation
At a Senate hearing Wednesday on the collapse of crypto platform FTX, expert testimony provided differing views on the loosely regulated crypto industry, with some arguing it poses big risks to customers and financial stability and must be more tightly controlled or banned outright, while others calling for a softer touch. The Senate Committee on…
The Corruption of Charity
Commentary Nothing is corruptible as a motivation that is universally celebrated as perfect. There will always be a danger that such an unquestioned motivation works as a perfect cover for egregious moral harm. The writings of H.L. Mencken on puritanism comes to mind. In his literary career, he cultivated a keen awareness of how and…
Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers: Senate Hearing
December 14, 2022
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The Senate Committee on Banking, Housing and Urban Affairs will conduct a hearing entitled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers.” at 10:00 a.m. ET on Dec. 14. The webcast hearing will be held in the Dirksen Senate Office Building G50. Witnesses: Professor Hilary J. Allen, American University Washington College…
NTD Good Morning (Dec. 14): Indictment Against FTX Founder Unsealed, Charges Include Campaign Finance Violations; Tiktok Problem
U.S. prosecutors unsealed the indictment against FTX founder Sam Bankman-Fried on Dec. 13. Find out what charges he’s facing in a case the company’s new CEO calls ‘plain old embezzlement.’ TikTok has been getting a lot of negative attention in the news lately. Fears of inappropriate content for children and worries about data security are widespread. Three lawmakers…
FTX Boss Sam Bankman-Fried Denied Bail in Bahamas After Arrest, Faces up to 115 Years in Jail
December 14, 2022
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Sam Bankman-Fried, the owner of the failed cryptocurrency exchange FTX, has been denied bail after his arrest in the Bahamas at the request of the U.S. government on Monday. In a hearing that lasted more than three hours on Tuesday, Chief Magistrate Joyann Ferguson-Pratt ruled that Bankman-Fried’s $250,000 bail request would be denied on the basis that Bankman-Fried…
FTX Founder Sam Bankman-Fried Denied Bail in Bahamas After Arrest, Faces up to 115 Years in Jail
December 14, 2022
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AmericasBusiness & MarketsCompaniesCrime and IncidentscryptocurrencyeconomyFTXMarketsSam Bankman-FriedUSUS Newswire fraudWorld
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Sam Bankman-Fried, the owner of the failed cryptocurrency exchange FTX, has been denied bail after his arrest in the Bahamas at the request of the U.S. government on Monday. In a hearing that lasted more than three hours on Tuesday, Chief Magistrate Joyann Ferguson-Pratt ruled that Bankman-Fried’s $250,000 bail request would be denied on the basis that Bankman-Fried…
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