Waters 'Disappointed' Bankman-Fried Will no Longer Testify Before Congress
House Financial Services Committee Chair Maxine Waters, D-Calif., says she’s “disappointed” and “surprised” at the timing of Sam Bankman-Fried’s arrest, due to his scheduled appearance before her committee tomorrow. “It’s about time the process to bring Mr. Bankman-Fried to justice has begun,” said Waters in a statement released in reaction to Bankman-Fried’s arrest. “However, as the public knows, my staff and I have been working diligently for the past month to secure Mr. Bankman-Fried’s testimony before our Committee tomorrow morning.” (TheBlock)
Sam Bankman-Fried Arrested in Bahamas; Could Other FTX Executives be Next?
Sam Bankman-Fried, former chief executive officer of the FTX.com cryptocurrency exchange, was arrested by the Royal Bahamas Police on Monday at the request of U.S. authorities, in another step in the saga of a US$32 billion company that imploded in bankruptcy in a matter of days last month. The arrest was based on an indictment that will be unsealed on Tuesday, said Damian Williams, the U.S. attorney for the Southern District of New York, on Twitter. The New York Times reported the charges to include wire fraud, securities fraud, and money laundering, citing a person familiar with the matter. (forkast)
FTX US ‘Was Not Independent’ of Parent Company, New FTX CEO Will Say in House Testimony
FTX CEO John Ray III is scheduled to testify before the House Financial Services Committee on Tuesday.
Sam Bankman-Fried Wants to Start New Business to Repay FTX Users — 'I'm Going to Try if I Can'
Former FTX CEO Sam Bankman-Fried (SBF) has revealed that he wants to start another business in the hope of earning money to repay FTX customers. “I would give anything to be able to do that. And I’m going to try if I can,” he said. (Bitcoin.com)
Sam Bankman-Fried Blames CZ For The FTX Collapse
In an interview with Forbes on December 12, Sam Bankman-Fried, the former CEO of FTX, once again blamed Binance CEO Changpeng Zhao for the failure of his exchange. Bankman-Fried claimed that Zhao had intentionally plotted to sabotage FTX in order to eliminate competition. Sam Bankman-Fried doubled down on his allegations that CZ was lying and claimed the was unaware of the negative impact this would have on the crypto market and the broader industry. (cryptopotato)
SBF Charged with Conspiracy, Wire Fraud, Money Laundering by Justice Department, Securities Violations by SEC
After weeks of speculation, the U.S. Department of Justice has officially filed criminal charges against Sam Bankman-Fried, the former CEO and founder of FTX. Bankman-Fried was arrested on Monday in the Bahamas related to charges by U.S. officials. U.S. Attorney Damian Williams posted on Twitter that the indictment would be unsealed Tuesday morning. Citing a person with knowledge of the matter, the New York Times reports that prosecutors for the Southern District of New York have charged Bankman-Fried with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering. (Decrypt)
Bahamas regulators investigate FTX client withdrawals: Bloomberg
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.
$75M worth of FTX’s political donations at risk of being recalled due to bankruptcy
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 Explains How To Regulate Crypto After FTX
Goldman Sachs published a research note on Friday covering blockchain technology and the recent demise of the crypto exchange FTX.
Bahamian AG and Prime Minister Announce Sam Bankman-Fried’s Arrest in the Bahamas
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.”
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