All articles tagged with #ftx
Caroline Ellison, former Alameda Research head and on‑again partner of Sam Bankman-Fried, was released from federal custody after serving about 14 months for seven charges tied to the FTX fraud; she testified against Bankman‑Fried, who received a 25‑year sentence, and Ellison was ordered to forfeit $11 billion, marking a late chapter in one of the largest U.S. financial-fraud investigations.
Caroline Ellison, former Alameda Research CEO and star witness in Sam Bankman-Fried’s trial, has been released from federal custody after roughly 14 months and will serve the remainder of her two-year sentence under community confinement (home confinement or a halfway house) with three years of supervised release; Bankman-Fried remains imprisoned on a 25-year sentence.
Sam Bankman-Fried, the former FTX CEO serving 25 years for crypto fraud, is reportedly giving legal advice to fellow inmates, including high-profile figures like Juan Orlando Hernandez and Sean Combs, sparking public criticism about his credibility and judgment.
Caroline Ellison, former CEO of Alameda Research and involved in the FTX fraud scheme, has been moved from federal prison to community confinement, with her projected release date moved up to February 2026, after serving about 11 months of her two-year sentence.
Sam Bankman-Fried's lawyer claims that his trial related to FTX was 'fundamentally unfair,' highlighting concerns about the legal process surrounding the FTX founder.
A court is reviewing whether Sam Bankman-Fried's trial was fair after his lawyers argue that he was unfairly given an early preview of his testimony, which they claim influenced the verdict. Bankman-Fried was convicted of multiple fraud charges related to the collapse of FTX, and his legal team is seeking a new trial, citing procedural errors and unfair practices during his original trial.
Sam Bankman-Fried's last legal hope to overturn his 2023 fraud conviction will be heard on November 4th, with his lawyers arguing that his trial was unfair due to judge bias and procedural issues. If the appeal fails, his sentence may become permanent, though some speculate he might seek a pardon through political connections.
Sam Bankman-Fried, the former CEO of FTX, admitted that his biggest mistake was handing control of the company to new management before its bankruptcy, which he claims cost him a chance to save the firm. Following the collapse of FTX and its sister company Alameda Research, Bankman-Fried is serving a 25-year sentence for multiple felony charges. The company has since been working to repay creditors, with billions already distributed, and is estimated to have up to $16.5 billion in recoverable assets.
FTX is set to distribute $1.6 billion to creditors on September 30th, slightly less than initially promised, which could potentially boost altcoin markets amid high optimism, although the impact depends on how much funds re-enter the crypto space. Meanwhile, Sam Bankman-Fried plans to appeal his conviction, adding to the ongoing developments in the crypto world.
FTX will distribute approximately $1.6 billion to creditors in its third distribution on September 30, 2025, following its Chapter 11 reorganization plan. Eligible creditors must complete KYC, tax forms, and onboarding with designated service providers (Bitgo, Kraken, Payoneer) to receive funds, which will be paid directly to these providers. The distribution includes various classes of claims, with some receiving up to 120%.
Shaquille O'Neal settled claims related to the FTX collapse for $1.8 million, just before a court order dismissing many claims was issued, while Tom Brady continues to face ongoing litigation. The case highlights the risks celebrities face when endorsing controversial financial products, with potential billions in exposure for remaining defendants, including Brady.
Sam Bankman-Fried, convicted of crypto fraud and sentenced to 25 years, is expected to be released over four years early due to good conduct and participation in prison programs, with an estimated release date in December 2044.
Paul Atkins, Donald Trump's choice for SEC Chair, has controversially blamed the US government for the collapse of the FTX crypto exchange. Atkins' consulting firm, Patomak Global Partners, was involved with FTX as a creditor and lobbyist before the exchange's downfall, highlighting his close connection to the incident.
Paul Atkins, Donald Trump's nominee for SEC Chair, has controversially blamed the US government for the collapse of the FTX crypto exchange, suggesting that inadequate regulatory frameworks contributed to the disaster. Atkins, whose consulting firm was involved with FTX, argues that the US should create more accommodating rules for digital assets. His nomination signals a potential shift in regulatory approach, contrasting with the Biden administration's stricter stance on crypto. The announcement led to a surge in Bitcoin prices, reflecting optimism in the crypto community.
Gary Wang, former CTO of FTX, avoided prison time due to his cooperation with authorities, despite pleading guilty to fraud and conspiracy charges. His testimony was crucial in the trial against former FTX CEO Sam Bankman-Fried, who received a 25-year sentence. FTX and its affiliate Alameda Research filed for bankruptcy in 2022 amid fraud revelations.