Gary Wang, co-founder of FTX, testified in the SBF trial that in November 2022, FTX's customer balance was equal to the assets held in the hot wallet, with one important exception: a hidden debt of $8 billion called "fiat@". As customers began withdrawing assets from FTX in November 2022, SBF asked Gary Wang to calculate how much money Alameda Research needed to deposit into the exchange to cover the outflow of funds.

At his fraud trial, Sam Bankman-Fried's lawyer argued that he did not steal customer money from FTX but rather overlooked risk management while building the business. The defense acknowledged that FTX lent money to Bankman-Fried's hedge fund, Alameda Research, but argued that he believed the loans were permitted and backed up by collateral.

Binance.US and its CEO, Changpeng Zhao, are facing a collective lawsuit in the Northern California District Court. The suit accuses the cryptocurrency exchange of unfair competition and attempts to monopolize the market, specifically by undermining its rival, FTX.

Former SEC attorney John Reed Stark has predicted that Sam Bankman-Fried, the founder of defunct crypto exchange FTX, is unlikely to be acquitted of sweeping fraud charges that could result in a lifetime in prison. Stark cited the unprecedented level of access to witnesses and evidence possessed by the DOJ team, as well as the many high-profile executives close to Bankman-Fried who have already pled guilty to reduce their criminal sentences.

Sam Bankman-Fried, the founder of FTX, is set to stand trial next week over his alleged role in the collapse of his $32 billion cryptocurrency exchange. He faces seven charges and could potentially receive a sentence of up to 115 years in prison if found guilty on all counts. Legal experts suggest that a fraud conviction could result in a life sentence. Bankman-Fried has pleaded not guilty to all charges. The defense may argue that he was a scapegoat or incompetent, but this may not be persuasive to a jury.

According to Seth Melamed, the Chief Operating Officer of FTX Japan, FTX Japan will provide Proof of Solvency to verify the assets deposited by customers on their exchange in a tamper-proof and verifiable manner.

Sam Bankman-Fried, the former CEO of FTX, will face a criminal trial starting on October 4 and lasting until November 9. The trial will consist of 15 full days in October and six in November, with breaks on weekends and public holidays. Bankman-Fried has been denied temporary release from pre-trial detention due to concerns that he may be a flight risk, and could face a maximum of 110 years in prison if convicted of the seven fraud and conspiracy charges against him.

Judge Lewis Kaplan of the Southern District of New York ruled that Sam Bankman-Fried's lawyers can question witnesses from the Department of Justice about their use of recreational drugs during the fraud trial in October. Kaplan also denied the DOJ's motion to prevent the defense team from cross-examining witnesses on privilege issues and rejected the SBF team's motion to prevent any evidence related to the bankruptcy of a cryptocurrency exchange. The trial is set to begin on October 3.

Sam Bankman-Fried, the former CEO of FTX, has been denied temporary release by the US Court of Appeals for the Second Circuit. Bankman-Fried's legal team had argued for his release on First Amendment grounds, but the court rejected their arguments. Bankman-Fried is facing charges of witness tampering and fraud, and his trial is set to begin on October 3. If convicted, he could face a prison sentence of over 100 years.

The U.S. Department of Justice has requested an extension to the trial date of FTX co-founder Sam Bankman-Fried. The trial is set to begin on October 3rd, but prosecutors believe more time is necessary for witness hearings and to ensure an efficient pace of the trial. The government is also scheduling travel for out-of-town witnesses and is requesting an additional sitting to help with the jury's time, witnesses' travel schedules, and trial pace. Meanwhile, Sam Bankman-Fried's attorneys and prosecutors will present their arguments to a three-judge panel of the 2nd U.S. Circuit Court of Appeals on Tuesday regarding a potential bail.

FTX founder Sam Bankman-Fried's defense team has raised concerns about his lack of access to defense material due to poor internet access and limited air-gapped computer access. The defense team has argued that this violates Bankman-Fried's Sixth Amendment rights and has requested his temporary release or greater computer access.

According to CoinDesk, the US Department of Justice (DOJ) stated in a letter on Tuesday that the incarcerated former CEO of FTX, SBF, can use a laptop and three hard drives containing defense materials seven days a week. SBF's defense team had previously argued that SBF "needed" to be released to prepare for his defense and informed Judge Lewis Kaplan, who is responsible for the case, that poor internet speed and battery life limited SBF's ability to prepare for the criminal trial next month.

According to Solscan data, confirms that FTX cold wallets began transferring their SOL yesterday. Multiple FTX cold wallets collectively hold nearly 7 million SOL (valued at approximately $134 million). Solana co-founder Anatoly Yakovenko tweeted that he would prefer to distribute SOL to former FTX customers.

Lawyers from the US Department of Justice stated in legal documents submitted on Tuesday that SBF plans to argue that his lawyer approved his alleged fraudulent behavior during his time at FTX, and that it should be dismissed as "irrelevant." US prosecutor Damian Williams stated in the documents that if further details are not provided, the court should exclude inquiries, evidence, and arguments related to the lawyer's involvement and consider that SBF should specify the legal advice or waive the defense he has raised.

Bankrupt cryptocurrency exchange FTX is seeking to hire Galaxy Digital, an investment advisor part of Mike Novogratz's crypto conglomerate, to help sell, stake, and hedge its $3 billion crypto holdings. FTX hopes to return funds to creditors in fiat currency and generate low-risk returns on idle digital assets through staking.

BlockFi, a bankrupt cryptocurrency lender, is opposing attempts by FTX and Three Arrows Capital (3AC) to retrieve hundreds of millions of dollars to pay back their creditors. BlockFi claims that its own creditors should not be pushed to the back of the line because FTX's creditors were allegedly harmed by the exchange misappropriating $5 billion BlockFi lent it.

According to Bloomberg News on August 19th, former CEO of FTX, SBF, requested to be released for five days every week to prepare for his defense case. SBF's lawyer, Christian Everdell, stated that it is necessary to allow SBF to meet with his lawyers and use a laptop with internet access in court to expedite the litigation process.

Prosecutors have revealed evidence they plan to use against SBF, founder of FTX, in relation to the November collapse of his crypto exchange. The evidence includes personal notes from Caroline Ellison, former CEO of his trading firm, Alameda Research, and his ex-girlfriend. Ellison's documents will be used to prove that&nbsp;SBF directed employees to illegally use FTX customer funds to plug holes in Alameda's balance sheet. <br>

Crypto lawyer John Deaton has raised concerns about the involvement of&nbsp;SBF's parents in the collapse of FTX last year. Deaton has highlighted instances where&nbsp;SBF's parents benefited financially from the crypto exchange before its bankruptcy, leading to suspicions of their involvement in the alleged fraud.&nbsp;SBF had transferred $10 million to an FTX account under his name, which he then gifted to his father, Joseph Bankman, taking advantage of a lifetime estate and gift tax exemption. <br>

August 15th, according to Cointelegraph's report, in order to conduct criminal defense, SBF's defense legal team has requested that the federal judge allow this former CEO of FTX to take antidepressants in prison.