FTX’s Bankman-Fried Gave Ex-Jane Street Traders Who Formed Modulo Capital $400M
When a spreadsheet listing Sam Bankman-Fried’s venture investments were published by the Financial Times earlier this month, a couple of lines stood out. They showed the former cryptocurrency kingmaker’s hedge fund, Alameda Research, had invested a total of $400 million into a company called Modulo Capital. Though this amounted to one of Bankman-Fried’s largest venture capital bets, Modulo’s identity was a mystery, giving rise to plenty of speculation. (Coindesk)
Sam Bankman-Fried Extradition in Doubt After Confused Court Hearing in Bahamas
Sam Bankman-Fried, the founder of the bankrupt cryptocurrency exchange FTX who has been charged with fraud, appeared in court in the Bahamas on Monday amid reports he would agree to be extradited to the U.S. However, that is now in doubt after a confused hearing that the judge called a waste of time and ordered him back to a Bahamian prison, according to a report from local outlet Eyewitness News Bahamas. (forkast)
FTX Founder Sam Bankman-Fried To Be Extradited to United States on This Date
According to the latest reports, the convicted FTX co-founder Sam Bankman-Fried has given clear indications that he is getting ready to be extradited to the United States from the Bahamas, as early as Monday. After being detained in Nassau the previous week, Bankman-Fried is scheduled to appear in a court in the Bahamas, where it is anticipated that he would consent to be extradited to the United States in order to face allegations of fraud.
Bitvavo Claims DCG Has Liquidity Issues, Exchange Funds Unaffected
As the fallout from the FTX implosion continues to unfold across the pond, DCG Group is also said to be dealing with liquidity issues and has halted repayments “until liquidity issues have been resolved.”
SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stressed the importance of bringing “intermediaries and issuers of crypto securities” into compliance. In addition, the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) has recommended that regulatory agencies continue to “enforce existing rules and regulations applicable to the crypto-asset ecosystem.” (Bitcoin.com)
Riot Games To Terminate FTX Sponsorship Due to “Reputational Harm”
North America (NA) League of Legends Championship Series, LLC (Riot) has made a filing in the FTX bankruptcy case requesting that the court either “compel FTX to reject the Agreement” or allow Riot to terminate the Strategic Sponsorship Agreement it has with FTX.
Shark Tank Star Kevin O'Leary Defends Support of Crypto Exchange FTX and Sam Bankman-Fried
Shark Tank star Kevin O’Leary, aka Mr Wonderful, has defended his support of the collapsed crypto exchange FTX and its former CEO Sam Bankman-Fried (SBF). “This is America. The justice system provides the presumption of innocence unless proven otherwise,” he stressed. O’Leary also denied the accusation by Binance CEO Changpeng Zhao (CZ) that he perjured himself in a U.S. Senate hearing over why FTX failed. (Bitcoin.com)
Texas Congressman States SEC Was “Asleep” During FTX Crisis
Congressman Pete Sessions stated in the Saturday Report on December 17 that the Securities and Exchange Commission (SEC) was “asleep at the wheel” questioning how FTX Group and its subsidiaries satisfied the requirements for financial and corporate control.
Inside Kevin O’Leary and Binance’s CZ Hot Exchange Over FTX’s Collapse
Despite the arrest of Sam Bankman-fried “SBF”, the ex-CEO of FTX in the Bahamas on Dec 12, Congressional hearings on the FTX debacle kicked off as planned mid-week. Kevin O’Leary, accused of receiving $15 million to promote FTX despite allegedly knowing the exchange’s fraudulent activities testified on Dec 14. When asked by Senator Pat Toomey why he thought FTX failed, he noted that FTX and Binance were at war with each other, putting the other out of business intentionally. “Binance is a massive unregulated global monopoly now. They put FTX out of business,” he said.
Federal Prosecutors Probe Democrats Over Donations From Sam Bankman-Fried
Several members of the U.S. Democratic Party and campaign committees are reportedly being probed by federal prosecutors over donations from former FTX CEO Sam Bankman-Fried (SBF) and another executive of the collapsed cryptocurrency exchange. “To any person, entity, or political campaign that has received stolen customer money, we ask that you work with us to return that money to the innocent victims,” said a U.S. district attorney following the arrest of Bankman-Fried.
