FTX CEO John Ray’s Congressional Testimony Reveals SBF’s Poor Management
The United States House Committee on Financial Services heard the testimony of John Ray III, the man in charge of cleaning up the mess at the bankrupt crypto exchange FTX. As the new CEO and Chief Restructuring Officer, Ray has been going through the company’s records since 11 November.
CFTC Reveals Alameda Had “Speed” Advantage On FTX
The US Commodity Futures Trading Commission asserts that Sam Bankman-trading Fried’s firm Alameda Research had a covert speed advantage when processing orders on his now-defunct FTX cryptocurrency exchange.
Bahamian Securities Regulator Slams New FTX CEO Over ‘Misstatements’
The Securities Commission of Bahamas has slammed the current CEO of bankrupt crypto exchange FTX John J. Ray III for his statements regarding the ongoing investigation into FTX.
FTX Founder Sam Bankman-Fried Was Arrested in Bahamas and Charged by the SEC
It looks like the final chapter in the SBF-FTX story is finally in as Bankman-Fried has officially been arrested by the Royal Bahamas Police Force after the US filed criminal charges. It is expected that the US will soon request the extradition of SBF.
Ripple’s General Counsel Says SEC Is Focused on Recovering FTX Funds For Large Investors, Not “Consumers”
In a recent tweet, Ripple’s general counsel Stuart Alderoty shed more light on the charges filed by the SEC against the former CEO of the former second-largest cryptocurrency exchange by trading volume.
The Bahamas Judge Denies Bail to Disgraced FTX Founder
A day after FTX founder Sam Bankman-Fried was arrested by the Bahamian authorities, SBF has been denied bail by the judge. Soon after his arrest, SBF’s attorney requested to release his client after paying $250,000 in cash along with an ankle bracelet. However, Chief Magistrate Joyann Ferguson-Pratt said that there’s a major flight risk behind releasing SBF. (coingape)
FTX an ‘Old-fashioned Embezzlement’ Says New CEO as US Authorities Charge Bankman-Fried with Fraud
Members of a U.S. Congressional hearing expressed frustration about the timing of Bankman-Fried’s arrest, saying they wanted him to testify under oath so the public could get the answers they are seeking about the collapse of FTX. (forkast)
Bahamian Regulator Rejects New FTX CEO's Bankruptcy Coordination Allegations
The Securities Commission of The Bahamas rejected recently appointed FTX chief John Ray's allegations that Bahamian officials worked with former CEO Sam Bankman-Fried to shelter the failed crypto exchange's assets from the U.S. bankruptcy process. The regulator issued a statement claiming Ray cited redacted email correspondence between Bankman-Fried and Bahamian officials "to create a false impression of communications between Mr. Bankman-Fried and the Commission." (The Block)
US Lawmaker Calls on SEC Chair Gensler to Testify About His Crypto Regulatory Failures
U.S. Congressman Tom Emmer has called on the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, to testify before Congress and “answer questions about the cost of his regulatory failures.” The lawmaker stressed: “Gensler has repeatedly dodged Congress at the expense of investors … leaving us to learn about the SEC’s crypto investigations, like the one into FTX, through the media.” (Bitcoin.com)
Bankman-Fried Lawsuits Expose FTX’s ‘Special Treatment’ of Alameda Research
Court filings against alleged crypto fraudster Sam Bankman-Fried are shedding more light on the cozy relationship that burned down his empire: the one between crypto exchange FTX and its sister hedge fund Alameda Research.
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