Sam Bankman-Fried, the founder of FTX, pleaded not guilty to fraud and money laundering charges related to the collapse of his cryptocurrency empire, with the new indictment accusing him of misusing customer funds for personal purposes.
Former FTX founder Sam Bankman-Fried received nearly $1 billion in cash payments from the crypto exchange before its collapse, while other ex-executives also benefited from the funds, court filings reveal.
Crypto executive Sam Bankman-Fried, founder of the collapsed FTX exchange, is fighting with prosecutors over his access to a laptop as he faces criminal charges, with the U.S. Department of Justice stating that he has sufficient access to a laptop and hard drives for his defense.
Crypto exchange FTX has filed a lawsuit against LayerZero Labs, seeking the return of $21 million in funds that were allegedly illegally withdrawn prior to FTX's shutdown in November 2022.
The collapsed crypto exchange FTX has been granted permission to liquidate its digital assets to repay creditors, including Bitcoin, Ether, and Solana, amounting to around $3.4 billion. The founder of FTX, Sam Bankman-Fried, is facing charges of fraud and conspiracy, with his bail being revoked last month.
Stanford law professors Joseph Bankman and Barbara Fried, parents of the disgraced ex-CEO of FTX, were more involved with the crypto company than they claimed, with court documents revealing their influence and $26 million in profits from FTX in 2022 alone.
Trevor Lawrence, Tom Nash, and Kevin Paffrath have settled lawsuits related to sponsorship deals with FTX, a failed crypto-exchange, before its collapse, with the terms remaining undisclosed.
Lawyers handling FTX's bankruptcy case are suing Sam Bankman-Fried's parents, accusing them of siphoning millions of dollars from company funds and violating federal campaign finance disclosure rules.
Sam Bankman-Fried, founder of bankrupt cryptocurrency exchange FTX, has been upheld in jail by a U.S. appeals court ahead of his fraud trial for tampering with witnesses and looting customer funds.
Bankrupt crypto exchange FTX is suing former employees of its Hong Kong affiliate company, Salameda, to recover $157.3 million that was allegedly fraudulently withdrawn before the exchange's bankruptcy filing.
Sam Bankman-Fried's parents, Barbara Fried and Joseph Bankman, are being sued by FTX for millions of dollars in compensation and benefits allegedly received from their involvement in their son's crypto empire.
Sam Bankman-Fried, the former CEO of FTX, has filed a lawsuit against Continental Casualty insurance company, claiming that the company has refused to pay his defense costs as part of the directors and officers (D&O) coverage provided to FTX Trading.
Former FTX developer Adam Yedidia testified that crypto exchange FTX used customer deposits to pay its loans, revealing an $8 billion deficit that led to the exchange's bankruptcy during the criminal trial of former CEO Sam Bankman-Fried.
FTX co-founder Gary Wang testified that the insurance fund balance of the crypto exchange did not match the actual funds held by the exchange, revealing it to be a fake number generated using an unconventional method, during the trial of Sam Bankman-Fried, who faces multiple charges including wire fraud and money laundering.
Sam Bankman-Fried, the founder of bankrupt crypto exchange FTX, is facing his ex-girlfriend, Caroline Ellison, in court, where she is expected to testify against him on accusations of stealing billions from customers.
FTX co-founder Sam Bankman-Fried has been accused by Caroline Ellison of instructing her to steal money from FTX's customers in order to repay loans made to Alameda Research, with Ellison testifying that Bankman-Fried directed her to commit fraud; Bankman-Fried, who faces multiple federal charges including wire fraud and money laundering, has pleaded not guilty to all charges.
Lawyers for FTX founder Sam Bankman-Fried are seeking to expand their questioning of government witnesses in order to strengthen their defense theories and prevent further damage to their client's image, as his trial enters its third week. They are also attempting to argue that FTX complied with its own terms of service to counter accusations of fraud. Meanwhile, prosecutors assert that Bankman-Fried misused client funds and repeatedly misrepresented FTX's handling of them.
Summary: Sam Bankman-Fried, the founder of crypto trading firm FTX, is currently on trial for allegedly defrauding customers of billions of dollars; a new book by Michael Lewis provides an inside look at Bankman-Fried's rise and fall, revealing a complex character driven by a desire to make a fortune and bring about positive change through philanthropy.
