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Tag: FTX

Ex-FTX exec causes stir on LinkedIn with inmate position declaration
News

Ex-FTX exec causes stir on LinkedIn with inmate position declaration

Former FTX executive Ryan Salame took to LinkedIn to humorously announce his new position as an inmate at FCI Cumberland, where he will serve a seven-and-a-half-year prison sentence that began on Friday, according to the Daily Mail. “I’m happy to share I’m starting a new position as an inmate at FCI Cumberland,” the 31-year-old wrote […]

FTX bankruptcy plan approved, customers set to be repaid
News

FTX bankruptcy plan approved, customers set to be repaid

FTX received court approval for its bankruptcy plan on Monday, paving the way for the beleaguered crypto exchange to repay customers using up to $16.5 billion in assets recovered since its collapse. U.S. Bankruptcy Judge John Dorsey endorsed the wind-down plan during a court hearing in Wilmington, Delaware, calling FTX’s case “a model” for complex […]

FTX moves to repay investors with interest
News

FTX moves to repay investors with interest

FTX has submitted a proposal to a bankruptcy court outlining a plan to refund creditors who held cryptocurrency at the troubled exchange. The majority of customers are slated to receive their funds back with interest, although both creditors and debtors missed out on substantial gains in the crypto market following FTX’s dramatic collapse in November […]

FTX CEO Sam Bankman-Fried appeals imprisonment
News

FTX CEO Sam Bankman-Fried appeals imprisonment

Sam Bankman-Fried has initiated an appeal against his conviction and 25-year prison term for embezzling $8 billion from customers of the now-defunct FTX cryptocurrency exchange, which he established. Defense attorney Marc Mukasey announced the intention to appeal to the Manhattan-based 2nd U.S. Circuit Court of Appeals during Bankman-Fried’s sentencing hearing on March 28. The 32-year-old […]

FTX CEO Bankman-Fried breaks silence after bagging 25-year jail term
News

FTX CEO Bankman-Fried breaks silence after bagging 25-year jail term

The former crypto CEO, Sam Bankman-Fried, has expressed remorse for his actions that led to a 25-year prison sentence for fraud last week. “It’s what I think about most each day,” he confessed to ABC News. Bankman-Fried’s sentencing concluded a 17-month ordeal that commenced in November 2022 when FTX, a global cryptocurrency exchange he co-founded […]

Disgraced crypto tycoon Bankman-Fried jailed 25-year
Crypto featured

Disgraced crypto tycoon Bankman-Fried jailed 25 years

Disgraced cryptocurrency wunderkind Sam Bankman-Fried was sentenced to 25 years in jail on Thursday following his conviction in one of the biggest financial fraud cases in history. US prosecutors were seeking a prison term of 40-50 years after a New York jury found Bankman-Fried, known by his initials SBF, guilty in November following a five-week […]

Jailed FTX boss gives prisoners crypto investment tips
Crypto

Jailed FTX boss gives prisoners crypto investment tips

Former CEO of the now bankrupt FTX, Bankman-Fried is reportedly offering cryptocurrency investment advice, promoting investments in the cryptocurrency Solana, to prison guards, as reported by The Times. Since August, Bankman-Fried has been incarcerated at Brooklyn’s Metropolitan Detention Center, known for its subpar living conditions. Bankman-Fried faces challenges beyond hygiene concerns in prison. Inmates lack […]

Fraud: FTX CEO pleads for leniency, cites fund recovery
Tech

Fraud: FTX CEO pleads for leniency, cites fund recovery

In a detailed sentencing submission, Sam Bankman-Fried’s lawyer, Marc Mukasey, presented a compelling case before U.S. District Judge Lewis Kaplan, advocating for a lenient sentence for the FTX founder. Bankman-Fried stands convicted of orchestrating the misappropriation of $8 billion from customers of the now-bankrupt cryptocurrency exchange, a case that prosecutors have deemed one of the […]

FTX moves to repay investors with interest
Tech

FTX moves to sell shares in AI startup Authropic

Bankrupt crypto exchange FTX has received approval from U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, to sell its shares in artificial intelligence startup Anthropic. The decision followed a compromise between FTX and a group of customers opposing the sale. FTX’s initial $500 million investment in Anthropic in 2021 gave it a 13.56% equity stake, […]

FTX CEO Sam Bankman-Fried appeals imprisonment
News Tech

FTX’s Sam Bankman-Fried will not face second trial – Prosecutors

Sam Bankman-Fried, who was found guilty last month of stealing from clients of his now-bankrupt cryptocurrency exchange FTX, will not face a second trial, according to U.S. authorities. Prosecutors claimed that the advantages of a second trial were outweighed by the “strong public interest” in a speedy settlement of their case against the 31-year-old former […]

Disgraced crypto tycoon Bankman-Fried jailed 25-year
News Tech

FTX co-founder convicted, faces 115 years in prison

Co-founder and former CEO of trading company Alameda Research and cryptocurrency exchange FTX, Sam Bankman-Fried, was convicted on all seven counts of fraud and money laundering. According to a statement from the U.S. attorney’s office in the Southern District of New York, the defendant is “charged with a wide-ranging scheme to misappropriate billions of dollars […]

Fraud: FTX CEO pleads for leniency, cites fund recovery
News Tech

Bankrupt FTX CEO Sam Bankman-Fried sent to jail

Sam Bankman-Fried, one of the founders of the defunct cryptocurrency business FTX, has been imprisoned as he waits for his October 2 criminal trial to begin. He was accused of attempting to tamper with a witness not once, but twice, and the judge agreed with the federal prosecutors who argued that his bail should be […]