Lawyers have accused the government of The Bahamas of asking SBF to mint new digital tokens worth millions of U.S. dollars. The tokens were allegedly given to Bahamian officials, FTX’s legal team said. FTX’s new CEO John J. Ray III and his team noticed that new tokens were being issued and suspected that SBF and FTX co-founder Gary Wang were the executives who worked on orders stemming from Bahamian officials. 

Sam Bankman-Fried (SBF), the disgraced founder and former CEO of bankrupt FTX, has continued to blame Changpeng Zhao (CZ), of Binance, for the downfall of FTX despite reports that confirm SBF mismanaged users’ funds.

The <a href="https://coingape.com/tag/ftx/">FTX</a> founder has found himself in a whirlwind of federal indictments today, with the Securities And Exchange Commission charging <a href="https://coingape.com/tag/sam-bankman-fried/">Sam Bankman-Fried</a> with defrauding investors by using billions of dollars of customer funds for undisclosed venture capital and now also by the Manhattan federal court where SBF has been charged with conspiracy to commit wire fraud.

U.S derivatives regulator Commodity Futures Trading Commission (CFTC) is planning to sue the co-founder of bankrupt crypto exchange FTX, Sam Bankman-Fried, for fraud, Bloomberg reported, citing a source.

The United States House Financial Services Committee plans to move forward with FTX’s hearing scheduled for Tuesday, December 13, despite the arrest of the company’s disgraced founder and former CEO, Sam Bankman-Fried (SBF).

The United States Securities and Exchange Commission (SEC) has filed charges against Sam Bankman-Fried, the former CEO of now-bankrupt crypto exchange FTX.&nbsp;

Upon the news that the founder of the collapsed crypto trading platform FTX has been arrested, many cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) included, are recording modest gains, whereas FTX Token (FTT), the native token of the crypto derivatives trading platform, keeps losing ground.

Attorneys representing the current leadership of FTX, those representing the Bahamas-based trading operation still controlled by former CEO Sam Bankman-Fried, and the Bahamian government are all wrangling over hundreds of millions of dollars' worth of assets kept in the island nation.

The Bahamas liquidators are seeking to exclude over $200 million worth of luxury properties in the country from the estate of FTX, as the bankrupt crypto exchange seeks to wind up and repay creditors in the U.S., court documents filed on Monday revealed.

The United States Government has finally filed formal charges against the ex-chief of the now-defunct and discredited FTX. Since the very time FTX filed for bankruptcy, it has been under the scanner of the US authorities. These were the innocent persons who seemingly had burnt their fingers due to his fraudulent activities. They wanted their pound of flesh and fast.

FTX CEO John Ray III Dec. 13 testimony to the U.S. Congress revealed that the bankrupt exchange commingled assets and stored wallets’ private keys without encryption.

The former billionaire, Sam Bankman-Fried (Founder and former CEO of FTX), was arrested on Monday in the Bahamas based on criminal charges filed in the United States, announced the Office of the Attorney General of The Bahamas.

Bahamas government officials worked closely with Sam Bankman-Fried and tried to help him regain access to key computer systems of bankrupt FTX Trading, lawyers for FTX said in a court filing before the failed crypto magnate was arrested on Monday.

FTX CEO John Ray III is scheduled to testify before the House Financial Services Committee on Tuesday.

Whether or not FTX executives played a role in client withdrawals that took place after the exchange saw its assets frozen is now under investigation by Bahamian authorities, Bloomberg News reported, citing sources.

Following the collapse of FTX and its bankruptcy filing on Nov. 11, $73 million worth of its political donations are currently at risk of being recalled to repay the failed exchange’s creditors, according to a report by Bloomberg.

Goldman Sachs published a research note on Friday covering blockchain technology and the recent demise of the crypto exchange FTX.

Disgraced FTX co-founder Sam Bankman-Fried (SBF) has been arrested in The Bahamas, according to local reports citing the country’s attorney general Ryan Pinder. According to Pinder, SBF’s arrest “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.”

<a href="https://coingape.com/sbf-resigns-john-ray-iii-joins-as-new-ftx-ceo/">John J. Ray III</a>, the official who is responsible for reorganizing the fallen cryptocurrency behemoth FTX informed lawmakers that the catastrophic collapse of the company was due to failings on the part of its former management. The new CEO of FTX has released his prepared remarks ahead of tomorrow’s <a href="https://coingape.com/just-in-sam-bankman-fried-to-testify-before-house-committee-on-december-13/">Congressional hearing</a>, which SBF has confirmed to testify, although virtually.

Former U.S. SEC Chairman and American attorney Walter “Jay” Clayton III has condemned how Sam Bankman-Fried, the founder of now-bankrupt exchange FTX, handled the firm. According to Clayton, there was a <i>great deal</i> of bad behavior regarding how SBF handled customer funds from a general perspective.