Sam Bankman-Fried could take the stand at his fraud trial as soon as Thursday, when prosecutors are set to finish presenting their case accusing the founder of now-bankrupt cryptocurrency exchange FTX of stealing billions of dollars from customers. Defense lawyer …
FTX founder Sam Bankman-Fried’s lawyer on Tuesday said the now-bankrupt cryptocurrency exchange’s investments were not “reckless and frivolous,” pushing back against testimony by a former executive who called its spending on marketing and celebrity endorsements excessive. Nishad Singh, FTX’s former …
Sam Bankman-Fried’s lawyer laid out his defense case at his fraud trial on Oct. 4, portraying the 31-former billionaire as a “math nerd” who overlooked risk management in building his FTX exchange, but did not steal customer money. Bankman-Fried has …
The managers of bankrupt crypto exchange FTX sued the parents of co-founder and former Chief Executive Officer Sam Bankman-Fried to “recover millions of dollars in fraudulently transferred and misappropriated funds.” Allan Joseph Bankman and Barbara Fried allegedly exploited their access …
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 …
Globally agreed rules leave crypto firms with no option but to introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, the G20’s Financial Stability Board said on Monday. The FSB published on Monday final …
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 …
US prosecutors were investigating Signature Bank’s work with crypto clients before regulators suddenly seized the lender this past weekend, according to people familiar with the matter. Justice Department investigators in Washington and Manhattan were examining whether the New York bank …
Crypto-focused bank Silvergate Capital Corp. said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto exchange FTX, sending its shares down 35% in after-hours trade. The …
A long road lies ahead to repair confidence in crypto after unprecedented bankruptcies and hacks, including the major challenge of giving investors a way of insuring against such events. Stock brokerage accounts often come with some cover against outcomes like …
