Tag: FTX Token
Sam Bankman-Fried’s associates turn on him, extending his prison sentence
After the failure of the cryptocurrency exchange he cofounded and led until recently, FTX, am Bankman-problems Fried’s have only worsened. The former FTX CEO was arrested in the Bahamas at the request of US authorities last week on criminal charges that could lead to a life sentence. New calls for government regulation have been made…
Sam Bankman-Fried’s 78-year-old Judge is known for being irritable after 30 years on the bench
On Tuesday, the cryptocurrency case brought by Sam Bankman-Fried was assigned to a federal judge in Manhattan known for making quick decisions and having a no-nonsense attitude during his three decades of overseeing numerous high-profile cases. After the original judge recused herself from the case because her husband was employed by a law firm that…
Bankman-Fried’s ‘Epic’ Legal Battle
The disgraced cryptocurrency entrepreneur was released on $250 million bond but must return to court in early January on federal fraud charges. Free on bail, Bankman-Fried faces “epic” legal fight Even though Sam Bankman-Fried, a former crypto mogul who reported to The Times last month that he was worth only $100,000, will not be spending…
FTX stake in US bank raises concerns about banking loopholes
Many more of FTX’s unethical practices were revealed when it declared bankruptcy. Concerns have been raised again about the company’s business practices and whether or not FTX is taking advantage of banking loopholes after it was revealed that it owns a small bank in a small town in rural Washington. The renamed Farmington State Bank…
Teams and Athletes rush to cancel FTX contracts
It’s been a bad month for FTX so far, with the company’s former CEO, SBF, filing for Chapter 11 bankruptcy a week ago. The now-defunct cryptocurrency exchange and its disgraced founder paid about $375 million for long-term FTX contracts with teams and athletes. Athletes were also offered a stake in the company. Most of them…
Forbes Calls Almeda Research CEO Caroline Ellison a “Math Whiz”
Forbes has written an article calling Alameda Research CEO Caroline Ellison a “math whiz,” which is hard to believe. while she was responsible for the loss of over $9 billion in FTX customer funds. The cryptocurrency market has been devastated by her role in the FTX collapse. A recent Forbes article, however, appears to have…
Andrew Yang says the FTX collapse could spur harsher regulation
In the wake of the FTX collapse, calls for stricter regulations around cryptocurrencies and digital assets are likely to grow louder. However, as former US presidential candidate Andrew Yang has pointed out, such regulations are not conducive to turning the US into a hub for blockchain innovation. On November 18th, Yang spoke at the Texas…
The FTX fallout is bloody
Bitcoin (BTC) is the most revolutionary currency since the advent of modern currency. Citizens are protesting the indentured servitude brought on by fiat economics by purchasing and holding Bitcoin. One of the largest wealth transfers in history has been set in motion, and its full effects will not be felt for decades. Bitcoin’s inspiring and…
Proof of Reserves: key to crypto trust?
After FTX’s catastrophic failure, the cryptocurrency industry was in shambles. destroying not only a wide variety of systems but also the public’s conception of the market as a whole. Is Proof of Reserves, however, really the answer to restoring people’s faith in crypto? The market could use more transparency, and with so many players focusing…
Sam Bankman-Fried got $3.3 billion from Alameda Research
It’s an ongoing debate that seems to have gotten more heated over time. Filings for bankruptcy have revealed that FTX founder Sam Bankman-Fried received a loan of $3.3 billion from Alameda Research. One of the most prominent global marketplaces to buy and sell cryptocurrencies has been brought down by this scandal. The cryptocurrency market has…
