Court filings continue to shed light on the dubious relationship between FTX and Alameda Research, in which the hedge fund was afforded an ‘unfair’ trading advantage as well as unprecedented access to user holdings on the cryptocurrency exchange. The United States Commodities Futures Trading Commission filed a complaint in the Southern District Court in New York on Dec. 1, alleging a host of irregular business dealings between Sam Bankman-Fried’s cryptocurrency exchange FTX and his trading company Alameda Research. The complaint provides a raft of allegations detailing how the two companies and select insiders including Bankman-Fried violated the Commodity Exchange Act …
Eight major media companies including Bloomberg, The Financial Times and Reuters have demanded public disclosure of the two individuals responsible for guaranteeing FTX former CEO Sam Bankman-Fried's $250 million bond. In a Jan. 12 letter addressed to New York District Court Judge Lewis Kaplan, attorneys from Davis Wright Tremaine LLP — acting on behalf of the media giants — argued that “the public’s right to know Bankman-Fried's guarantors outweighed their privacy and safety rights.” Media organizations looking to persuade the judge to unseal the identities of Bankman-Fried's guarantors include the Associated Press, Bloomberg, CNBC, Dow Jones, The Financial Times, Insider …
Sam Bankman-Fried, the former CEO of crypto exchange FTX may no longer be able to play League of Legends and other video games if newly proposed changes to his bail conditions from United States prosecutors are approved. In a Feb. 15 letter to United States District Judge Lewis Kaplan, U.S. Attorney Damian Williams asked the courts to further expand restrictions surrounding Bankman-Fried’s electronic device usage. They pointed to Bankman Fried’s recent device usage as cause for concern, and agreed with the court’s intuition that it was “shortsighted” by focusing only on apps, adding: “There is now a record before the …
Lawyers representing former FTX CEO Sam Bankman-Fried in federal court have requested an extension to file a proposal related to his bail conditions. In a Feb. 24 filing with the United States District Court for the Southern District of New York, Mark Cohen of Cohen & Gressler said the legal team wanted until March 3 to file a proposal for additional bail conditions for Bankman-Fried as well as find a suitable candidate to act as a technical expert in the case. The lawyers agreed to hire an expert following a Feb. 16 hearing discussing the former FTX CEO’s use of …
Former FTX CEO Sam Bankman-Fried (SBF), currently free on a $250 million bail bond, will reportedly plead not guilty to the alleged FTX and Alameda-related financial frauds in court on Jan. 3. SBF was arrested in the Bahamas at the request of the U.S. government under suspicion of defrauding investors and misappropriation of funds held on the FTX crypto exchange. Following a court hearing on Dec. 22, SBF was released on bail and is slated to appear on court on Jan.3 before U.S. District Judge Lewis Kaplan in Manhattan. During the hearing, SBF is expected to enter a plea of …