BankmanFried | Digital Money Times

Why Sam Bankman-Fried Is Getting A ‘Non-Internet’ Phone While Out On Bail

March 5, 2023 By Mark Lyford Leave a Comment

Sam Bankman-Fried will be allowed to use a non-internet-connected flip phone under new bail conditions that include restrictions on internet usage, according to prosecutors cited by Bloomberg.

The former FTX CEO is still free on a $ 250 million bail but is being held at his parents’ home with an ankle monitor. Prosecutors stated in a letter to U.S. District Judge Lewis Kaplan late Friday that the parties had agreed to changes in the terms of Bankman-Fried’s release.

Did Sam Bankman-Fried Try To Contact Witnesses?

According to Bloomberg, the request was submitted before Kaplan of the Southern District of New York courthouse in response to accusations that Sam Bankman-Fried tried to contact witnesses. Read more...

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Bankman-Fried Should Have Only Flip Phone, Website Whitelist, DOJ Says

March 4, 2023 By Mark Lyford Leave a Comment

Sam Bankman-Fried’s bail conditions should restrict his use of the internet, including the use of a non-internet connected flip phone, an attorney to the U.S. Department of Justice has proposed in court filings made late Friday.
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Sam Bankman-Fried Charged With New Crimes As Prosecutors Detail Illegal Political Deals

February 24, 2023 By Mark Lyford Leave a Comment

Bankman-Fried’s charges have been expanded in the latest indictment brought forth by federal prosecutors.

Federal prosecutors have announced a new indictment of Sam Bankman-Fried with four additional criminal charges.

The document alleging these new charges starts with the claim that “From at least in or about 2019, up to and including in or about November 2022, Samuel Bankman-Fried, a/k/a ‘SBF,’ the defendant, corrupted the operations of the cryptocurrency companies he founded and controlled.” Read more...

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Voyager Bankruptcy: Former FTX CEO Sam Bankman-Fried Served Deposition Subpoena By Creditors

February 19, 2023 By Mark Lyford Leave a Comment

The current legal saga facing FTX former CEO Sam Bank-Friedman shows no signs of abating, with new cases weekly. The latest reports say that the FTX founder has been served a subpoena to testify at a deposition about bankrupt crypto firm Voyager Digital.

Sam Bankman-Fried To Testify In Court Deposition

This development was confirmed in a court filing on February 18. According to the details, Sam Bankman-Fried, alongside Alameda CEO Caroline Ellison, FTX co-founder Gary Wang and FTX’s head of product Ramoc, must appear for a remote deposition on February 23. Read more...

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DOJ Claims Sam Bankman-Fried Tried to Influence Witness Testimony, Asks for Communications Ban

January 29, 2023 By Mark Lyford Leave a Comment

Federal prosecutors wrote a letter to U.S. District Court Judge Lewis Kaplan on Friday, requesting that he modify the conditions of Sam Bankman-Fried’s bail to include ban on private communications with current and former employees of FTX and Alameda Research.
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Sam Bankman-Fried Seeks Right to Transfer FTX’s Crypto

January 28, 2023 By Mark Lyford Leave a Comment

Lawyers for the bankrupt crypto exchange’s founder said there was no evidence for restricting access to crypto held by FTX as part of bail conditions in a fraud trial.
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Bloomberg, WSJ and CoinDesk Among Media Orgs Seeking to Know Who Bailed Out Sam Bankman-Fried

January 13, 2023 By Mark Lyford Leave a Comment

Bloomberg, Reuters and the Wall Street Journal also cite a public interest given the scale of alleged fraud from the FTX collapse
CoinDesk

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Sam Bankman-Fried Denies Stealing FTX Funds in New Online Post

January 12, 2023 By Mark Lyford Leave a Comment

The former FTX CEO ascribed the exchange’s collapse to a targeted attack by Binance, Alameda’s poor hedging and the crypto market meltdown.
CoinDesk

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Sam Bankman-Fried Might Lose Robinhood Assets To FTX Debtors

January 6, 2023 By Mark Lyford Leave a Comment

In the latest update, Sam Bankman-Fried (SBF), former CEO of a bankrupt crypto exchange FTX, requests the court to block debtors’ access to his Robinhood shares. A report announced by US prosecutors revealed the Robinhood shares are worth $ 450 million.

SBF has been under house arrest since his apprehension by the Royal Bahamas Police Force after the U.S. filed criminal charges against him. All these took place in December 2022, weeks after the crash of his crypto exchange, leaving many with multiple losses. Read more...

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Alameda Wallets Swap Altcoins For Bitcoin, Days After Bankman-Fried Bail

December 28, 2022 By Mark Lyford Leave a Comment

The FTX/Alameda saga continues to keep the crypto industry on its toes. Just before Christmas, Sam Bankman-Fried (SBF) was released on a $ 250 million bail under house arrest, which his parents secured with the equity in their home.

A few hours ago, former Alameda Research wallets came to life, as noted by several on-chain analysts. Oddly enough, the transfers of altcoins come just shortly after Bankman-Fried was allowed to make himself comfortable in his parents’ home, equipped with an Internet connection. Read more...

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Sam Bankman-Fried Indicted And Charged With Fraud

December 19, 2022 By Mark Lyford Leave a Comment

U.S. regulators have filed eight separate charges against SBF according to an unsealed indictment.

Sam Bankman-Fried, the disgraced former CEO of collapsed cryptocurrency exchange FTX, has been formally indicted on charges of fraud, money laundering and others. The unsealed document reveals eight charges from the United States Southern District Court of New York, including: Read more...

Conspiracy to commit wire fraud on customers
Wire fraud on customers
Conspiracy to commit wire fraud on lenders
Wire fraud on lenders
Conspiracy to commit commodities fraud
Conspiracy to commit securities fraud
Conspiracy to commit money laundering

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Sam Bankman-Fried To Spend Christmas In Jail After Bahamas Judge Denied Him Bail

December 14, 2022 By Mark Lyford Leave a Comment

Things are not looking good for Sam Bankman-Fried ahead of Christmas. Well, what’s there to be excited about when spending the Yuletide season behind bars now becomes a reality?

Bankman-Fried, the brains behind the defunct cryptocurrency exchange FTX, was detained in The Bahamas on Tuesday, Bitcoinist reported. One day after he was collared, the government of the Bahamas chose to refuse him the option of temporary freedom.

The counsel for Bankman-Fried asked his client’s release upon payment of $ 250,000 in cash. According to various news sources, however, Chief Magistrate Joyann Ferguson-Pratt stated that there is a significant flight risk associated with releasing SBF. Read more...

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How Bankman-Fried Wanted To Attack Binance And Others In Today’s Hearing

December 13, 2022 By Mark Lyford Leave a Comment

Even though Sam Bankman-Fried has finally been arrested, the founder of FTX continues to make headlines.

Crypto Twitter is currently philosophizing that it is strange timing that SBF is arrested by Bahamian authorities the day before his hearing in front of the US Congress.

Bankman-Fried is reportedly in custody awaiting extradition to the United States. As a result, Bankman-Fried will not be able to give his testimony before the U.S. House of Representatives Financial Services Committee.

Instead, new FTX CEO John Ray will replace his predecessor. Remarkably, however, SBF already had a speech prepared to give today. Forbes managed to get a hold of that document. Read more...

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Class Action Lawsuit Against FTX’s Celebrity Promoters and Sam Bankman-Fried Is Quietly Dropped

December 10, 2022 By Mark Lyford Leave a Comment

A class action lawsuit filed against former FTX CEO Sam Bankman-Fried and a host of paid celebrity promoters for the now-defunct crypto exchange has been dropped.
CoinDesk

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FTX’s Sam Bankman-Fried to Testify in Front of US House Financial Committee

December 9, 2022 By Mark Lyford Leave a Comment

The chair of the House Financial Services Committee, Maxine Waters, said SBF’s attendance was “imperative.”
CoinDesk

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FTX Shopping Spree: Sam Bankman-Fried Bought Employees Homes In The Bahamas

November 19, 2022 By Mark Lyford Leave a Comment

FTX, the cryptocurrency exchange platform being held responsible for the recent crash of the crypto market, once again found itself in the dark side of the news following a (not surprising!) discovery that involved its employees and advisors.

In his attempt to help shed light on how the Sam Bankman-Fried-owned company operated and proceeded with its dealings, new FTX CEO John Ray submitted a 30-page document to the United States Bankruptcy Court for the District of Delaware.

In his filing, Ray stated:

“In the Bahamas, I understand that corporate funds of the FTX group were used to purchase homes and other personal items for employees and advisors.” Read more...

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Sam Bankman-Fried Not In The Bloomberg’s Billionaire Club Anymore

November 10, 2022 By Mark Lyford Leave a Comment

Following the crisis in FTX, the firm’s CEO, Sam Bankman-Fried (SBF), has been trying to salvage the exchange. He has been gathering resources and funds from other subsidiaries and SBF-owned companies like Alameda to support FTX.

FTX crypto exchange has been struggling recently due to liquidity issues. As a result, the firm is gradually sinking as its reserve balances keep moving to the south. Also, the native token, FTT, has lost over 20% of its value within a few days. Read more...

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Crypto Billionaire Sam Bankman-Fried, Justin Sun Reportedly Eyeing Majority Takeover Of Huobi

August 13, 2022 By Mark Lyford Leave a Comment

The founder of crypto exchange Huobi Global, Leon Li, is in discussions to sell nearly 60% of his investment in Huobi, which accounts for 5% of all crypto trading volume. Reports on Saturday indicate the deal is priced between $ 2 and $ 3 billion.

Existing investors in Huobi, including Sequoia China and ZhenFund, were reportedly notified of Li’s decision during a shareholder meeting in July of this year.

Based on initial reports, Li views the new shareholders as “powerful and resourceful.” Moreover , potential investors must place a high premium on the Huobi brand and devote adequate funding to fostering its expansion. Read more...

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