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Ftx Exchange

All articles tagged with #ftx exchange

cryptocurrency-crime1 year ago

"FTX CEO Sam Bankman-Fried's Legal Battle Over 50-Year Sentence"

Sam Bankman-Fried's lawyers argue against the proposed 40 to 50-year sentence, stating it portrays him as a "supervillain" and is excessively harsh. They advocate for a 5¼ to 6½-year imprisonment instead. Bankman-Fried was convicted of stealing $8 billion from FTX cryptocurrency exchange customers and faces a $11 billion forfeiture. Prosecutors allege he used the stolen funds for personal gain and political donations. The sentencing is set for March 28, and Bankman-Fried's side plans to appeal the conviction and sentence.

via New York Post |
#cryptocurrency#cryptocurrency-crime#fraud
business2 years ago

Caroline Ellison Exposes Sam Bankman-Fried's Scandalous Actions

Caroline Ellison, the former CEO of Alameda Research, testified in the criminal fraud trial of Sam Bankman-Fried, stating that he made "terrible mistakes" that led to the collapse of FTX and Alameda. Ellison, the prosecution's star witness, maintained her account during cross-examination, despite attempts by Bankman-Fried's defense lawyer to undermine her testimony. She claimed that Bankman-Fried knew about the misuse of billions of dollars in customer funds and directed her to tap into FTX customer money. Ellison, along with two other FTX executives, pleaded guilty to fraud and agreed to cooperate with the government.

via The New York Times|
#alameda-research#business#caroline-ellison
cryptocurrencyfinance2 years ago

FTX Founder Sam Bankman-Fried Accused of Directing Fraud and Crimes

Caroline Ellison, the former CEO of Sam Bankman-Fried's hedge fund, testified in court that Bankman-Fried instructed her and others to defraud FTX exchange customers by taking their money without their knowledge. Ellison revealed Bankman-Fried's obsession with rival Binance and his belief that he could become the US president. She admitted her involvement in fraud, conspiracy to commit fraud, and money laundering alongside Bankman-Fried. Ellison portrayed him as ambitious and the mastermind behind illicit activities, including siphoning funds from customers and investors. Bankman-Fried faces charges of fraud and conspiracy but maintains his innocence.

via IndiaTimes|
#cryptocurrencyfinance#fraud#ftx-exchange
cryptocurrency2 years ago

FTX Customers' Identities Protected in Bankruptcy Proceedings

A bankruptcy judge in Delaware ruled that the names of customers who used the collapsed cryptocurrency FTX Exchange can remain secret permanently, as they are considered a "trade secret" and revealing them could lead to personal information theft by scammers. The judge also ruled that the names of creditors or equity holders from the U.K. and European Union can be released. FTX filed for bankruptcy in November, and its founder Sam Bankman-Fried has been accused of misleading investors and stealing billions of dollars in customer funds.

via Fox Business|
#bankruptcy#cryptocurrency#customer-privacy