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Sam Bankman-Fried’s testimony in his own trial was not good
Sam Bankman-Fried, the former CFO of failed hedge fund FTX, has testified that his company didn’t “have a chief risk officer”. He added that he never asked where $8 billion worth of client funds went. FTX’s former co-founder Michael Dell is accused of helping Bankman-Fried and others to defraud FTX’s customers of $8 billion.
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Bankman-Fried’s fortune fell in less than a week.
US Securities and Exchange Commission (SEC) has charged FTX Founder Sam Bankman-Fried with eight counts of fraud and conspiracy. The SEC alleged that Bankman-Fried and his partners manipulated the price of one of FTX’s security tokens, FTT, to prop up the value of their houses of cards. FTX and its sister hedge fund Alameda filed…
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The IRS took another Silk Road Hacker’s $3.36 billion currency haul.
FTX Co-founder Sam Bankman-Fried and his hedge fund Alameda Research sent over $185 million to cover a shortfall in FTX US, the US government has alleged. Bankman-Fried directed Alameda traders to prioritise meeting FTX US capital requirements and send excess capital to FTX US, it added. Alameda also diverted FTX’s customers’ funds to its funds,…
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Sam Bankman-Fried wrote a novel called House of Cards.
US Securities and Exchange Commission (SEC) has accused FTX’s CEO Sam Bankman-Fried of deceiving investors by claiming that FTX was one of the safest crypto-currencies. It further said Bankman-Fried misled investors about the risks involved in investing in Crypto. The SEC also accused Bankman-Fried of misusing customer deposits held in FTX to cover the expenses…