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United States federal prosecutors have reportedly begun investigating whether the collapse of the Terra ecosystem was in fact triggered by market manipulation tactics by former FTX CEO Sam Bankman-Fried.According to a Dec. 7 report from The New York Times (NYT), the prosecutors — as part of a broader inquiry into
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Normally witnesses appear voluntarily, the lawmakers said in the letter. If Bankman-Fried does not confirm his participation by Thursday, "I am prepared, along with Ranking Member Pat Toomey, to issue a subpoena to compel your testimony," the letter signed by Brown said. Original Source
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A hearing on what happened to FTX is scheduled to take place on Tuesday. Source
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Here’s the thing: It seems impossible that FTX could have afforded those investments, along with its other vast expenditures, simply from three years of exchange revenue and its own venture capital inflows of $1.8 billion. Maybe some of the FTX Ventures stakes used fake FTX money like FTT, so there’s
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Congresswoman Maxine Waters, chair of the House Committee on Financial Services, has politely asked former FTX CEO Sam Bankman-Fried (SBF) to attend a congressional hearing on the collapse of his cryptocurrency exchange. Bankman-Fried says he will testify when he has finished “learning and reviewing what happened.” Bankman-Fried Responds to Rep. Waters’
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The chief executive of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, has slammed former FTX CEO Sam Bankman-Fried (SBF) for claiming that FTX is missing $8 billion due to an “accounting error.” He stressed: “It’s stolen customer money used in his hedge fund, plain and simple.” Brian Armstrong on SBF’s ‘Accounting
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Former FTX chief executive officer Sam Bankman-Fried has reportedly hired Mark Cohen, a former federal prosecutor, to act as his defense attorney.According to a Dec. 6 report from Reuters, Bankman-Fried's spokesperson Mark Botnick said the former FTX CEO has retained Cohen amid a flurry of civil litigation from investors in
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Since the collapse of FTX, Bankman-Fried – against what might be typical legal advice to keep one's mouth shut – has submitted to extensive questioning in numerous forums, describing his actions as leader of the exchange as possibly stupid but not criminal. The stakes, though, have been upped somewhat of
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Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation.There was some substantial good news for crypto last week, but the prevailing storyline is still the unfolding of FTX. While the extradition of the failed exchange’s founder Sam Bankman-Fried seemed pretty logical from
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Bankman-Fried is coming under fire for his attempts at using the media to form his own version of events. That comes as crypto exchange FTX faces bankruptcy proceedings after a CoinDesk report revealed that Alameda Research, an affiliated trading firm that Bankman-Fried also owned, held substantial amounts of FTX’s native
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