Prosecutors in New York asked a court on Friday to sentence crypto fraudster Sam Bankman-Fried to between 40 and 50 years in prison for defrauding crypto investors and extracting billions of dollars from his companies FTX and Alameda Research. FTX imploded in 2022, turning a high-flying company once valued at $32 billion into a worthless … 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
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 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
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
Photo: Victor J. Blue/Bloomberg (Getty Images) Sam Bankman-Fried testified before a jury for the first time on Friday saying he did not defraud FTX customers or take their funds, according to Bloomberg’s live reporting of the trial. The FTX and Alameda’s founder said that Alameda “borrowed” them, but admitted “a lot of people got hurt.” … Read more