With SBF’s trial due to start in less than a week, the court has released guidelines for admissible evidence, both for the prosecution and the defense. The vast majority of requests from the government’s side were granted, with some notable exceptions. Meanwhile, none of the defense’s requests for preclusion were accepted. Excessive Evidence Defense Denied...Read More
A United States judge has approved the Justice Department’s (DOJ) motion to bar all witnesses proposed by Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, from testifying at his upcoming trial. According to an order filed with the U.S. District Court for the Southern District of New York, Judge Lewis...Read More
SBF had previously violated his bail conditions in minor ways, such as by using VPNs to watch football games. Although the court did not constitute such relatively innocuous breaches as enough of a reason to reverse his bail, it nevertheless put them on guard against further infractions. However, it later turned out that he had...Read More
In a new turn of events, the defunct crypto exchange platform FTX earmarked September 29, 2023, at exactly 4 PM ET as the final deadline for creditors registering their proofs of claims through the designated portal. This strategizing maneuver forms part of FTX’s blueprint to streamline the claims process and ensure that all stakeholders have...Read More
Incoming reports indicate that Sam Bankman-Fried’s legal team is readying their arguments for a pretrial release hearing before the U.S. appeals court on Tuesday as the billionaire founder of the defunct exchange FTX prepares for his trial on Oct. 3. Bankman-Fried’s initial plea was overruled last month as the prosecutors argued that the defendant had...Read More
With about two weeks to go until the start of Sam Bankman-Fried’s trial, yet another trove of documents replete with everything from his early life to unverifiable attempts at exonerating himself has surfaced. Lots of Words, Little Substance Sticking to the tone of his lengthy – yet ultimately trite – substack posts and interactions with...Read More
Bankrupt cryptocurrency exchange FTX has been approved by the bankruptcy court to liquidate its crypto assets worth $3.4 billion. Meanwhile, the company’s former CEO, Sam Bankman-Fried, may stay in prison until his scheduled trial in October after a US Judge denied his requests for a pretrial release. Judge John Dorsey of the US Bankruptcy Court...Read More
The US Judge in charge of Sam Bankman-Fried’s case has denied the former FTX CEO’s repeated requests for a temporary release from jail to make adequate preparations ahead of his upcoming trial. Sam Bankman-Fried, who maintains his not-guilty plea to all charges levied against him, is scheduled to appear in court in October. No Pretrial...Read More
With less than a month left before Sam Bankman-Fried’s court case is due to begin, DOJ officials have been rushing to put the final touches to their arguments. Since the outcome will be decided by a jury, the DOJ has spent a while formulating questions for members of the jury to ensure that they are...Read More
The world’s most valuable company – Apple, with market cap nearing $3 trillion, has reportedly secured the rights to the upcoming book about FTX’s founder – Sam Bankman-Fried. The book will likely be one of the many documentaries, including short TV series, to be released about SBF and his former empire. Apple Gets the Book...Read More
Sam Bankman-Fried’s trial is one of the biggest cases of white-collar securities fraud in Manhattan, with billions of dollars having gone astray from the defunct cryptocurrency platform FTX, causing significant financial distress to former users (and employees). In the latest development, the lawyers representing the disgraced founder objected to the four million pages of discovery...Read More
Since his bail was revoked, Sam Bankman-Fried has been pleading for everything between “temporary” re-release, more computers, and more time to review the prosecution’s evidence. FTX’s current defense strategy is to claim he acted in good faith, taking the advice of FTX’s legal team. Naturally, this would imply a lack of knowledge regarding the misdeeds...Read More
The US Department of Justice (DOJ) is seeking additional disclosures about Sam Bankman-Fried’s planned defense. According to a Tuesday filing, the lawyers representing the agency responded to the disgraced exec’s plan to use an advice-of-counsel defense during his scheduled trial in October. If this request is not met, the DOJ asked the court to restrict...Read More
Crypto and stock trading platform Robinhood (HOOD) has executed a nine-figure buyback of its own shares from FTX’s former executives, including disgraced boss Sam Bankman-Fried and his fellow co-founder Gary Wang. The purchase secured 55,273,469 HOOD shares worth $605.7 million. Robinhood entered into the purchase agreement with the United States Marshal Service (USMS) on August...Read More
A former engineer at Alameda Research has come forward with claims on X that his entire life savings were stolen by Sam Bankman-Fried (SBF), his former boss. Aditya Baradwaj paints a vivid picture of the rise and fall of FTX, exposing the contradictions, grand visions, and heartbreaking consequences that ensued. As an engineer at Alameda...Read More
The founder of FTX – Sam Bankman-Fried (SBF) – has reportedly pleaded not guilty in a Manhattan federal court to seven criminal charges in a new indictment. This was his first appearance since his bond was revoked earlier this month, leading to his imprisonment. SBF is expected to spend the days until his trial in...Read More
Less than two weeks after the court revoked Sam Bankman-Fried’s bail, his legal team has requested that his freedom be returned to him during weekdays, arguing that the confines of jail are, surprisingly, too restrictive and do not offer him the circumstances necessary to properly prepare for his upcoming trial. Improper Conditions SBF’s eye-watering $250...Read More
On the 14th of August, the prosecution in SBF’s ongoing court case produced the longest and most explicit list of charges so far. The document is 70 pages long and names legal precedents for most of the charges brought against him. However, special attention is given to the accusation of illegal political campaign contributions. It...Read More
Sam Bankman-Fried was reportedly sent to jail on Friday as US Judge Lewis Kaplan denied his lawyers’ request to delay detention. The former crypto mogul’s court date is set for October 2nd, and he could sit in a jail cell until then if the appeal is unsuccessful. CryptoPotato reported last month the allegations presented by...Read More
A group of customers of the once-prominent cryptocurrency exchange FTX has reportedly filed a lawsuit against the law firm Fenwick & West, insisting that it contributed to the alleged scam orchestrated by Sam Bankman-Fried (SBF) and the subsequent multi-billion losses it brought. The former leader of the exchange has pleaded not guilty to the fraud...Read More
Cohen & Gresser – an international law firm representing the former CEO of FTX Sam Bankman-Fried (SBF) – maintained that he did not attempt to intimidate Caroline Ellison (ex-leader of Alameda Research) or taint the jury’s sentiment when talking to a New York Times reporter. The 31-year-old, who faces several fraud charges and is accused...Read More
The U.S. Department of Justice (DOJ) has requested that the bail bond of Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, be revoked and that the court impose a detention order against him due to his attempts to tamper with witnesses. According to a letter submitted to Judge Lewis Kaplan...Read More
Following the leak of Caroline Ellison’s private diary to the New York Times, a flurry of accusations was served against SBF, as evidence at the time already pointed towards his identity as the source. Constant Communication With Reporters and Unidentified Guests Since then, SBF has been served a gag order meant to stop him from...Read More
U.S. Congress undertook its first-ever markup for digital asset legislation on Wednesday, attempting to establish clear jurisdiction for the nation’s chief market regulators. The bill was not well received by Democrats, however, many of whom find it overly friendly to the crypto industry, and similar to what disgraced FTX boss Sam Bankman-Fried had advocated for....Read More
As Sam Bankman-Fried’s trial draws ever closer, the prosecution has taken action to prevent him from tampering with witnesses in the case by attempting to influence them one way or another. SBF Suspected of Ellison Leak The moment FTX collapsed, Sam Bankman-Fried started an “apology tour,” telling various reporters and government representatives that he hadn’t...Read More
FTX Trading has reportedly filed a lawsuit against the former CEO of the exchange Sam Bankman-Fried (SBF), and some people from his inner cycle to recoup more than $1 billion, which they supposedly misappropriated before the company’s demise. Numerous regulators and fallen investors have accused the previous management team of the marketplace of orchestrating a...Read More
Major venture capital firm Sequoia Capital has seen the departure of five key partners, including two investors who were involved in the company’s failed investment in Sam Bankman-Fried’s bankrupt crypto exchange, FTX. While Sequoia claimed that the collapse of FTX had no significant impact on the firm, the VC was accused of promoting FTX. Sequoia...Read More
Lawyers representing Sam Bankman-Fried (SBF) requested Judge Lewis Kaplan to issue an order permitting certain people to visit their client without the necessity of security checks. Despite being allowed to reside at his parents’ house, the former CEO of FTX is subject to strict restrictions. He must wear an electronic monitoring bracelet, while a security...Read More
In a temporary respite for Sam Bankman-Fried, the disgraced founder of now-bankrupt cryptocurrency exchange FTX was able to block the addition of new charges in his United States indictment. The ruling comes as the former exec sought an opportunity to make arguments in the country to drop a few existing charges against him. The court...Read More
Unlike other FTX executives, who pleaded guilty to misdeeds while running FTX and have likely provided a treasure trove of information to the authorities in exchange for a lighter sentence, Sam Bankman-Fried has continued to maintain his innocence. However, as the date that his case gets sent to trial grows ever nearer, his legal team...Read More
