A group of former customers of bankrupt crypto exchange FTX are rebelling against a proposed plan that would return the entirety of the money they lost. In a lawsuit filed this week, the customers argue they are due a whole lot more. The plan laid out by FTX in December to return customer funds does … Read more
When more than $400 million worth of crypto was mysteriously pulled out of the coffers of what was once the world’s biggest cryptocurrency exchange, FTX, on the very day that it declared bankruptcy in November of 2022, many initially suspected insiders at the company—including, potentially, then CEO Sam Bankman-Fried, now convicted of fraud. But clues … Read more
Photo: TIMOTHY A. CLARY / AFP (Getty Images) It’s official: There will be no further attempts to salvage FTX. The once popular but now defunct crypto exchange that “misplaced” billions of dollars in user assets before collapsing in a heap of scandal is officially headed to the corporate graveyard. The Biggest Crypto Heists of 2022…So … Read more
The X account belonging to the Securities and Exchange Commission was hacked on Tuesday, allowing a fake announcement to be posted to the web concerning a much-awaited happening in the crypto world: the first Bitcoin ETFs. The announcement claimed the ETFs had been approved but, as it turns out, that’s not true. When it became … Read more
Sam Bankman-Fried once faced 13 criminal charges relating to his massive fraud scheme at the crypto exchange FTX. However, he’ll only face consequences for the seven charges he was found guilty of in November. Sam Bankman-Fried Using a VPN, McDonald’s AI Drive Thru Fails, Buzzfeed AI Quizzes Suck | Editor Picks The United States Department … Read more
Sam Banman-Fried (left) image by ED JONES / Contributor/Getty Images. Mackerel image (right) image by Anadolu / Contributor/Getty Images Sam Bankman-Fried quickly figured out that mackerel fish is the currency of choice among inmates. He recently used it to pay for a haircut. The food item has been a popular means of exchange in federal … Read more
Sam Bankman-Fried may be headed to prison but the story of FTX is far from over. Indeed, like an evil spirit, the exchange seems destined to haunt the crypto community for the rest of its days. The Biggest Crypto Heists of 2022…So Far Not only has the company’s downfall shattered faith in what was once … Read more
FTX founder Sam Bankman-Fried is not going to the moon, instead he appears headed for prison … he’s been found guilty on all counts against him in his federal cryptocurrency fraud case. Federal law enforcement sources tell TMZ … a jury in New York City convicted the disgraced “Crypto King” on all seven counts of … Read more
Sam Bankman-Fried is guilty on all seven federal charges in his criminal trial for defrauding customers of his crypto exchange out of billions of dollars with his crypto empire, jurors decided on Thursday night in a Southern District of New York court, Reuters reports. Jurors reached a verdict at 7:40 p.m., according to CoinDesk, that … Read more
In crypto circles, the trial of Bankman-Fried was considered a “galactic embarrassment,” a sideshow whose outcome would have little effect on the prospects or trajectory of remaining crypto businesses, but cast a dark cloud over the industry and attracted a torrent of unflattering press. Its conclusion marks an opportunity for the crypto sector to start … Read more