FTX Co-Founder Requests Long-Release Adderall for Concentration During Criminal Trial
Sam Bankman-Fried, co-founder of FTX, has requested a long-release Adderall prescription from a US judge, claiming he is struggling to concentrate during his criminal trial. His lawyers have asked if he can take a 12-hour extended-release 20mg dose of Adderall before being transported to trial. They have also requested that the trial be stopped for one day if Bankman-Fried is unable to take the medication or if it doesn't work. The lawyers claim they have attempted to solve the issue with the Bureau of Prisons but have not received a response.
Bloomberg: SBF's comments in tweets and group chats used as evidence in his historic fraud trial
SBF's comments in tweets and group chats were used as evidence in his historic fraud trial. Prosecutors provided screenshots of messages, social media posts, and internal documents showing how SBF and his trading company Alameda Research planned a plan worth billions of dollars on his FTX cryptocurrency exchange. These documents reveal the mechanisms of his alleged fraud and the differences between his public statements and private instructions to his inner circle. (Bloomberg)
FTX pledged more than 5.5 million Solana today, worth $122 million.
On October 14th, according to The Block, SolanaFM's on-chain data shows that earlier today, FTX assets pledged over 5.5 million Solana (SOL) tokens worth $122 million from a major wallet on the Solana blockchain. On-chain analyst ashpool pointed out that one of the wallet addresses managed by FTX assets delegated the tokens to Figment, which is one of the network validators used for staking.
Haseeb Qureshi, managing partner of crypto venture fund Dragonfly: “I don’t want to invest in the next FTX”
Haseeb Qureshi, managing partner of the cryptocurrency risk fund Dragonfly, discussed the recent SBF and FTX bankruptcy cases in a recent interview. He stated that the venture capital has changed its investment approach due to the FTX incident, but problems will still arise in the future cryptocurrency market, although they may not be similar to FTX due to human greed. As a native cryptocurrency venture capital company, Dragonfly's approach is to "not invest in the next FTX" and ensure that invested projects/companies do not become FTX. Haseeb Qureshi also stated that investment giants such as Sequoia Capital, Tiger Global Fund, and SoftBank did indeed lose money in the FTX investment, but there are still cryptocurrency funds active in this industry, and venture capital firms such as Paradigm and Pantera Capital have not left.
FTX cold wallet pledged over US$121 million in SOL to Figment this morning
According to Whale Alert monitoring, at 09:34:41 Beijing time today, 5,546,217 SOL tokens (equivalent to $121,255,031) were transferred from an unknown wallet starting with 9uyDy9 to another newly created unknown wallet starting with 5eUEWs. Solscan data shows that the 9uyDy9 wallet is an FTX cold wallet.
Blockchain data analyst Ashpool stated that this transfer was made by FTX estate for staking SOL, which will ultimately be staked with Figment.
FTX estate (bankruptcy trustee) is responsible for overseeing the bankruptcy and restructuring of FTX exchange. According to data disclosed in September, FTX estate holds over $1.16 billion in SOL, accounting for approximately 16% of its total market value. (Coin Edition)
Previously, FTX creditor @sunil_trades released an updated FTX shareholder report on X platform on September 11th.
The report shows that as of August 31st, FTX (including FTX.com, FTX.US, Alameda) holds approximately $3.4 billion worth of crypto assets.
Ranked by position value, the holdings are SOL (with a position value of approximately $1.162 billion), BTC (with a position value of approximately $560 million), ETH (with a position value of approximately $192 million), APT (with a position value of approximately $137 million), USDT (with a position value of approximately $120 million), XRP (with a position value of approximately $119 million), BIT (with a position value of approximately $49 million), STG (with a position value of approximately $46 million), WBTC (with a position value of approximately $41 million), WETH (with a position value of approximately $37 million).
Analyst: FTX assets are staking 5.5 million SOL
According to on-chain data analyst Ashpool, FTX assets are currently staked with 5.5 million SOL. Ashpool referenced another post from Whale Alert, which showed a SOL transaction between two unknown wallets for 5,546,217 SOL, equivalent to $121,255,031. Ashpool's alert sparked discussion among many cryptocurrency users, with many trying to understand the narrative behind FTX's recent actions. A respondent named "rpcmert" under Ashpool's post recalled a statement from Caroline Ellison, a close partner of SBF, who stated that FTX has locked SOL tokens on the network of the project.
BlockFi CEO: Alameda and FTX are to blame for BlockFi’s collapse
BlockFi CEO Zac Prince testified in the SBF trial that Alameda and FTX were the main culprits behind BlockFi's collapse, and stated that he would never have issued loans if he had known that Alameda's balance sheet contained false information.
Sam Bankman-Fried's Attorneys Seek to Cross-Examine Every Witness After Former Alameda CEO's Testimony
Attorneys representing Sam Bankman-Fried have requested to cross-examine all witnesses following former Alameda CEO Caroline Ellison in a letter motion submitted to Judge Lewis A. Kaplan on October 12. The motion addresses evidence-related issues that have arisen during the trial and are likely to occur again with subsequent witnesses.
Secretly Recorded Audio Reveals Alameda Research "Borrowed" User Funds from FTX, Leading to Collapse
A secretly recorded audio clip lasting 75 minutes has been released, revealing the moment 15 former Alameda Research staff learned that the hedge fund was "borrowing" user funds from FTX. The recording, obtained by Cointelegraph, sheds new light on the tension felt by Caroline Ellison and Alameda staff leading up to FTX's collapse.
Former Alameda CEO: Changpeng Zhao’s tweets “contributed” to FTX’s collapse
Former CEO of Alameda Research, Caroline Ellison, testified that a tweet from Binance CEO Changpeng Zhao (CZ) caused the collapse of the cryptocurrency exchange FTX. In the tweet on November 6, 2022, CZ announced that Binance would liquidate its holdings of FTX tokens (FTT). Many reports claim that the liquidation of the tokens caused retail investors to follow Binance in withdrawing from FTX. The platform's run on withdrawals led to FTX ceasing withdrawals and filing for bankruptcy on November 11th.
Ellison stated that while CZ's tweet "contributed" to the collapse of FTX, the main reason was that Alameda borrowed 10 billion US dollars from the exchange that they were "unable to repay".
Russian Cybercriminal Groups Suspected in $400 Million FTX Crypto Exchange Heist
Elliptic, a research firm, has traced stolen assets worth $400 million from the now-defunct FTX crypto exchange to Russia-based cybercriminal groups. The attackers used RenBridge to move 65,000 ETH to the Bitcoin blockchain and employed a blockchain-based tool called a mixer to cover their tracks. However, at least $4 million of these assets made their way to various exchanges, hinting at a possible cash-out attempt. Elliptic's analysis suggests a Russian connection, as a significant portion of the stolen assets merged with funds linked to Russian criminal syndicates.
Sam Bankman-Fried's Lawyers Request Clarification and Reconsideration on Rulings in FTX Trial
Sam Bankman-Fried's legal team has requested clarification and reconsideration on certain aspects of the court's rulings following testimony from former FTX CTO Gary Wang and former Alameda CEO Caroline Ellison. The defense seeks clarification on the ruling to preclude Bankman-Fried from arguing that FTX was not regulated in the US and that he followed rules for FTX US.
Former Alameda Research CEO testifies that crypto trading firm paid Chinese officials to unlock trading accounts on OKX and Huobi
Former Alameda Research CEO Caroline Ellison testified during the Sam Bankman-Fried trial that the crypto trading firm paid Chinese officials to unlock their Alameda trading accounts on OKX and Huobi in China. However, Bankman-Fried is not charged with bribery of Chinese officials in this case, and the evidence was presented for limited purposes of displaying trust and confidence as well as motive between Bankman-Fried and Ellison. Ellison testified that Bankman-Fried and Trabucco told her via a Signal chat to make the payments, and the accounts were reopened after she made about $100 million to $150 million in payments of "crypto transfers" to accounts. During the trial, it was revealed that Alameda employees tried various strategies to open the accounts, including getting Thai prostitutes to open accounts on the exchanges, but these efforts were unsuccessful.
SBF’s Draft Tweet Was Exposed in September Last Year, and It Had Planned to Announce the Closure of Alameda Research
October 11th, in the SBF trial, a tweet draft edited by SBF in September last year was adopted as evidence by the court. The draft shows that SBF planned to announce the closure of Alameda Research to the world in this way.
In the draft, SBF described Alameda Research as "one of my biggest successes" and referred to it as "one of the supports of the ecosystem". SBF also stated "Alameda Research is dead. Long live FTX."
Sam Bankman-Fried's Defense Team Seeks to Question Caroline Ellison on Legal Counsel Dependence and FTX's Anthropic AI Stake Valuation
Sam Bankman-Fried's defense team has filed motions to question Caroline Ellison about her reliance on legal counsel while CEO of Alameda Research and the valuation of FTX's stake in Anthropic AI. Ellison is the star witness in the criminal fraud case against Bankman-Fried, and the defense wants to address the "advice-of-counsel" argument.
Gary Wang received a $35 million loan from Alameda to purchase a property
FTX co-founder Gary Wang testified that he received a $35 million loan from Alameda to purchase real estate, and SBF deposited $1 million into Wang's FTX account to pay the loan interest. Wang stated that FTX lawyer Dan Friedberg, referred to as SBF's "mediator" in previous FTX bankruptcy filings, signed the check recording the loan.
Sam Bankman-Fried Seeks Permission to Question FTX Co-Founder Gary Wang's Reliance on Legal Advice in Loan Arrangements
Sam Bankman-Fried's lawyers have requested permission from Judge Lewis Kaplan to question FTX co-founder Gary Wang about his reliance on legal advice when agreeing to loans from Alameda Research. The letter seeks carve-outs from the judge to allow Bankman-Fried to argue that lawyers' involvement shows he did not realize the loans were improper.
FTX Hacker Uses Sam Bankman-Fried's Trial to Obfuscate Stolen Funds, Says CertiK Director
The hacker who stole over $400 million from FTX and FTX US in November may be using the attention surrounding Sam Bankman-Fried's fraud trial to further hide the funds, according to CertiK's director of security operations Hugh Brooks.
Former Alameda Research CEO Will Testify Today, Testimony May Have Potentially Damaging Revelations
The trial of the SBF fraud case is underway, and Caroline Ellison, the former lover of the CEO of Alameda Research and SBF, will testify in court today. The testimony may provide the most in-depth and potentially destructive disclosure of FTX and Alameda financial transactions. Due to Ellison's close relationship with SBF and her position at Alameda, she has even become the focus of the trial before her scheduled testimony.
Former FTX CEO Sam Bankman-Fried faces fraud charges in federal court trial with weak defense narrative
Sam "SBF" Bankman-Fried, the former CEO of FTX, is currently facing seven counts of fraud and conspiracy to commit fraud against FTX investors and customers in a federal court in New York. The Department of Justice has presented a strong legal case against him, while his defense team has offered minimal resistance. Prosecutors have presented evidence, including changes made to FTX's code by Bankman-Fried's request, to show that he deliberately lied to investors, journalists, and clients. If Bankman-Fried's defense team decides to appeal the case, they would need to identify legal errors or misconduct during the trial, which can be a lengthy process.
