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Supreme Court Rules Against Coinbase in Dogecoin Sweepstakes Case
1 year ago•Source: Quartz
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3.425 min•2 years ago
Binance Founder CZ Barred from Leaving US Until Sentencing
A US federal judge has ruled that Changpeng Zhao, the founder of cryptocurrency exchange Binance, must remain in the United States until his sentencing on criminal charges related to anti-money laundering violations. The judge granted prosecutors' request for travel restrictions, citing Zhao's significant wealth overseas and the lack of an extradition treaty between the US and the United Arab Emirates, where Zhao resides. Zhao pleaded guilty to failing to maintain an effective anti-money laundering program and faces 10 to 18 months in prison. Prosecutors argued that he could easily flee and sustain financial losses, while Zhao's attorneys emphasized his willingness to surrender and admit wrongdoing.
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Binance CEO CZ pleads guilty, sentencing set for February
Cointelegraph•2 years ago
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"Binance's Ex-CEO Zhao Seeks Permission to Depart US Ahead of Sentencing"
Reuters•2 years ago
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Binance's Former CEO Seeks Permission to Leave US Ahead of Sentencing
Lawyers for former Binance CEO Changpeng Zhao are urging a U.S. judge to reject the Justice Department's request to bar him from returning to his home in the United Arab Emirates until he is sentenced for violating anti-money laundering requirements. Zhao's lawyers argue that he is not a flight risk and should be allowed to return home to take care of his family and prepare for his sentencing. Zhao stepped down as CEO of Binance after pleading guilty to causing the cryptocurrency exchange to fail to maintain an effective anti-money laundering program.
Sam Bankman-Fried's Criminal Trial: Closing Arguments and Testimony Conclude
The defense has rested its case in the criminal trial of FTX founder Sam Bankman-Fried, who faces potential life imprisonment if convicted on fraud charges related to the collapse of FTX and sister hedge fund Alameda Research. Bankman-Fried's testimony concluded on Tuesday, with the defense relying on his ability to convince the jury that he did not intentionally misuse customer funds. Closing arguments are set to begin on Wednesday, after which the jury will deliberate.
"FTX Fraud Trial: Cross-Examination of Sam Bankman-Fried Unveils Surprising Testimony"
The cross-examination of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, began in his fraud trial. Assistant US Attorney Danielle Sassoon questioned Bankman-Fried about his public statements regarding the safety and transparency of FTX, highlighting inconsistencies in his responses. The prosecutor also raised his controversial comment about regulators and questioned his motives for expressing support for regulation. Bankman-Fried's defense attempted to shift blame to Binance's treatment of FTX and emphasized his efforts to improve the company's safety. Bankman-Fried admitted to making management mistakes but denied defrauding customers or misappropriating funds. The trial continues.
Sam Bankman-Fried's High-Stakes Testimony: A Make or Break Moment
Former crypto billionaire Sam Bankman-Fried took the stand in a New York courtroom as his defense team attempted to showcase their strongest arguments of his innocence. Bankman-Fried faces seven criminal counts, including wire fraud and money laundering, that could result in over 100 years in prison if convicted. The defense's case hinges on whether the jury believes Bankman-Fried's testimony, but legal experts believe the evidence against him is overwhelming. Bankman-Fried's defense team has struggled to undermine the allegations and witness testimonies presented by prosecutors. The judge will rule on the admissibility of certain topics, and Bankman-Fried's testimony before the jury is expected soon.
"Bankman-Fried's Trial Testimony: Dodging, Waffling, and a Brutal Cross-Examination"
Sam Bankman-Fried, former crypto executive, faced cross-examination during a trial hearing on criminal fraud charges. The judge expressed frustration with Bankman-Fried's evasive answers, and the defendant may have to give his testimony twice depending on the judge's ruling. Bankman-Fried's defense team aims to prove he acted in good faith, but former prosecutors believe he will struggle to convince the jury. Bankman-Fried is accused of using stolen customer funds to finance risky investments, political contributions, and personal expenses.
"High-Stakes Drama Unfolds as 'King of Crypto' Fraud Trial Continues"
The jury in the fraud trial of Sam Bankman-Fried, former CEO of cryptocurrency exchange FTX, has been sent home after he briefly took the stand but did not speak. Bankman-Fried was instead asked to testify in private before the judge to determine the admissibility of his testimony. He is accused of lying to investors and lenders and stealing money from customers of FTX. Bankman-Fried denies the charges. Prosecutors have built their case on statements from former colleagues who have already pleaded guilty. If found guilty, Bankman-Fried could face a life sentence in prison.
Sam Bankman-Fried faces intense cross-examination in crypto fraud trial
Sam Bankman-Fried, former CEO of bankrupt cryptocurrency exchange FTX, testified in his crypto fraud trial without the jury present, allowing the judge to determine the admissibility of his testimony. Prosecutors have accused Bankman-Fried of diverting customer funds to his hedge fund, lying to investors and lenders, and using the funds for personal expenses. Bankman-Fried's decision to testify gives prosecutors the opportunity to cross-examine his claims. He faces charges of wire fraud and conspiracy to launder money, which could result in lengthy prison sentences if convicted.
Sam Bankman-Fried Faces Intense Cross-Examination in Crypto Fraud Trial
Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, is expected to testify in his criminal fraud case after weeks of testimony from witnesses who accused him of using customer deposits for personal gain. Bankman-Fried is accused of orchestrating a scheme to use up to $10 billion in customer funds for venture investments, real estate purchases, and lavish spending. The defense argues that Bankman-Fried acted in good faith and did not intend to defraud customers. Prosecutors have presented a strong case, and Bankman-Fried's decision to testify is seen as a risky move.
Sam Bankman-Fried to Take the Stand in FTX Trial
Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, plans to testify at his criminal fraud trial in Manhattan. Bankman-Fried, who is charged with orchestrating a scheme to steal up to $10 billion from FTX customers, has pleaded not guilty to seven charges. Prosecutors have called witnesses who testified that Bankman-Fried lied about the exchange's use of customer money. The defense plans to call three witnesses, including a financial services consultant and a Bahamian lawyer involved in the case. Bankman-Fried is expected to testify after these witnesses.
Sam Bankman-Fried to Defend Himself in Fraud Trial, Takes the Stand
Former FTX CEO Sam Bankman-Fried is expected to testify in his own defense as his fraud trial resumes in Manhattan federal court. Bankman-Fried faces seven counts of fraud, conspiracy, and money laundering related to the alleged misuse of customer deposits on the FTX crypto trading platform. Prosecutors have accused him of using customer funds to cover losses at his hedge fund, Alameda Research, and for personal expenses such as buying real estate. Bankman-Fried has pleaded not guilty to all charges and could face up to 110 years in prison if convicted.