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Michael Lewis, the author of “The Big Short,” says the disgraced crypto entrepreneur was exploring the legality of such a move. Sam Bankman-Fried (aka SBF), founder and former CEO of the now-bankrupt cryptocurrency exchange FTX, was considering paying Donald Trump $5 billion not to run for re-election. In an interview with CBS,
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“Even his best friends, inside the company said, ‘Sam is just not built to manage people,’” Lewis said, adding that Bankman-Fried didn’t know the names of other members of the board of directors, and appears to have viewed their role as mere rubber-stamping. Original Source
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The United States Securities and Exchange Commission (SEC) has initiated legal proceedings against an accounting firm that had previously provided services to the now-defunct cryptocurrency exchange FTX.According to a September 29 statement, the SEC alleged that Prager Metis provided auditing services to its clients without maintaining the necessary independence, as
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Part of Kaplan’s rationale for denying the release request came from his belief, as a seasoned jurist, that Bankman-Fried might present a flight risk. “Your client could be looking at a very long sentence,” Kaplan told Bankman-Fried’s lawyers. “If things look bleak […] if he had that opportunity, maybe he
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A law firm that previously provided services to the now-defunct cryptocurrency exchange FTX has refuted a class-action lawsuit brought against them claiming that it assisted in the exchange's alleged fraudulent activities. According to a Sept. 21 court filing, Fenwick & West, a United States law firm, denies all accusations of misconduct
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Coinbase recently considered buying FTX Europe, highlighting the growing significance of crypto derivatives in global trading strategies. In the crypto trading space, derivatives have grown in significance, outpacing the popularity of spot trading. This trend is demonstrated by Coinbase’s recent interest in acquiring FTX Europe on Sept. 22, further underlining the
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The sale of tokens won’t flood the market because liquidations are bound by sell limits, the report said. Source
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Most notably, Bankman-Fried still seems unwilling to take any responsibility for what happened — or even register that $8 billion *somehow* went missing, people lost life savings or that he could spend the next decades of his life rotting in prison. And, somehow, his biggest regret still seems wrapped up
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The global crypto market cap is rising despite the US Consumer Price Index (CPI) coming higher than expected and FTX’s liquidation approval. According to a report by CNN, data from the US Bureau of Labor Statistics shows the CPI, used to measure inflation in the country, registered a 0.6% hike in
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In a completely unexpected move, Justin Sun, Founder of Tron and Advisor to Huobi Global has expressed his interest in acquiring FTX’s
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