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Sam “SBF” Bankman-Fried, the founder of cryptocurrency exchange FTX, claims that spending clients’ fiat deposits was just part of “risk management” for his intertwined crypto hedge fund Alameda Research.During the former crypto executive's court testimony on October 31, prosecutor Danielle Sassoon of the Southern District of New York asked SBF
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The failed cryptocurrency exchange's founder has so far tried to present an alternative explanation of how one of the world's better-known trading platforms collapsed, suggesting it grew too quickly and without sufficient oversight or risk planning. However, prosecutors – led by Assistant U.S. Attorney Danielle Sassoon – have quickly sought
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According to SBF, Ellison’s failure to hedge Alameda’s financial positions was a major contributing factor in the FTX’s financial troubles. In a dramatic turn of events at the ongoing criminal trial of FTX founder Sam Bankman-Fried, the renowned crypto entrepreneur pointed fingers at his former close associates, especially Caroline Ellison, his
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Brand ambassadors for FTX Africa are now facing life-threatening situations and public backlash following the platform’s financial collapse. Brand representatives for the bankrupt FTX Africa are encountering life-endangering challenges, with several reporting serious threats against them. The representatives were initially tasked with increasing the user base for FTX Africa, receiving a
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FTX’s founder stuck to his guns on who to blame for Alameda’s spending and use of customer funds during the third day of his testimony in United States v Sam Bankman-Fried. Day 15 and Sam Bankman-Fried’s third day on the stand displayed numerous questions from assistant United States attorneys. Simultaneously, the
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Sam Bankman-Fried will continue his defense Monday against allegations he committed fraud and conspired to commit other forms of fraud in operating FTX and Alameda Research. Source
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According to the latest on-chain data, wallet addresses linked to the now-bankrupt FTX exchange and Alameda Research have transferred substantial amounts in
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Sam “SBF” Bankman-Fried took the stand this week to testify in his ongoing criminal trial in the Southern District of New York, denying any wrongdoing between FTX and Alameda Research, while acknowledging making "big mistakes" during the companies’ fast-paced growth. His official testimony started on Oct. 27, after a hearing on
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The jury overseeing the criminal trial of Sam “SBF” Bankman-Fried listened to the former FTX CEO’s testimony for the first time, which involved largely denying knowledge of fraudulent activities at the crypto exchange.According to reports from the New York courtroom on Oct. 27, Bankman-Fried suggested Wang, the former chief technology
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"Friedberg, the chief regulatory officer of FTX International, in combination with Fenwick & West, one of our outside law firms, was – were the ones who drafted the incorporation documents, had incorporated and also corresponded with banks about opening up bank accounts for it," Bankman-Fried said about North Dimension on
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