One billion dollars is a lot of money to spend. But it reportedly took FTX’s 31-year-old co-founder and former CEO, Sam Bankman-Fried, barely two years to burn through more than that 10-figure amount on celebrity endorsements and sponsorship deals for his failed cryptocurrency exchange. Only...
Right out of the gate, Caroline Ellison admitted to stealing billions of dollars. Of course, she has already pleaded guilty to four criminal counts related to doing just that. The maximum total sentence carried by her crimes is 110 years. She is hoping for far less. On...
Sam Bankman-Fried wants another shot at mounting a “bad legal counsel” defense. In a filing Monday (Oct. 9) evening, attorneys for the former FTX head have asked the court’s permission to question company co-founder Gary Wang about legal advice he received when agreeing to loans from Alameda Research, FTX’s...
Sam Bankman-Fried allegedly lied about many things over the course of his cryptocurrency exchange’s collapse. But when the since-indicted FTX co-founder first heard about the $8 billion deficit that would later sink his crypto empire, all he said was “that sounds correct.” And despite being...
October 06, 2023
Sam Bankman-Fried allegedly lied about many things over the course of his cryptocurrency exchange’s collapse. But when the since-indicted FTX co-founder first heard about the $8 billion deficit that would later sink his crypto empire, all he said was “that sounds correct.” And despite being aware of the multi-billion-dollar deficit at Alameda Research and FTX, […]
July 09, 2024
Two former FTX executives who testified against the cryptocurrency exchange’s co-founder, Sam Bankman-Fried, now know when they will face sentencing hearings. Nishad Singh will be sentenced on Oct. 30 and Gary Wang will be sentenced on Nov. 20, with both having pleaded guilty to fraud, Reuters reported Tuesday (July 9). Prosecutors are expected to ask […]
October 10, 2023
Sam Bankman-Fried wants another shot at mounting a “bad legal counsel” defense. In a filing Monday (Oct. 9) evening, attorneys for the former FTX head have asked the court’s permission to question company co-founder...
September 07, 2023
Former FTX executive Ryan Salame reportedly plans to plead guilty to criminal charges related to the collapse of the cryptocurrency exchange. This development comes just weeks before the trial of FTX co-founder...
February 05, 2023
Federal prosecutors are reportedly widening the scope of their investigation into FTX. The Department of Justice (DOJ) is scrutinizing a growing range of people with connections to the failed cryptocurrency...
