Imprisoned FTX founder Sam Bankman-Fried is reportedly hoping to secure a pardon from President Donald Trump. The New York Times, citing “six people with knowledge of the matter,” reports that Bankman-Fried has talked to a lawyer affiliated with Trump, reached out to DC lobbyists and interviewed with Tucker Carlson in an effort to appeal to […]
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FTX and Alameda Research collapsed in November 2022, causing approximately $8 billion in losses to customers of the now-bankrupt exchange.
The FTX bankruptcy estate seeks to recover over $100 million from SkyBridge Capital and founder Anthony Scaramucci to recoup funds spent by former FTX CEO Sam Bankman-Fried (SBF) on sponsorship and investment deals with Scaramucci and SkyBridge dating back to 2022.
According to the November 8 legal filing, Bankman-Fried made a series of investments and collaborative partnerships with SkyBridge Capital and Scaramucci before the collapse of FTX — beginning with a $12 million sponsorship of Scaracmucci's SALT conference in January 2022. Shortly after, in March 2022, SBF directed Alameda Research to invest $10 million in the SkyBridge Coin Fund.
FTX lawsuit against SkyBridge and Scaramucci. Source: Kroll
During a recent appearance on Tucker Carlson's podcast, Salame claimed federal prosecutors unfairly targeted him for political reasons.
Convicted, former FTX executive Ryan Salame submitted himself to prison custody on October 11, 2024, at FCI Cumberland, according to Bureau of Prison records viewed by Cointelegraph.
Salame was sentenced to 90 months in prison for his role in the 2022 FTX collapse after pleading guilty to operating an unregulated money-transmitting business and campaign finance charges in 2023.
The former FTX executive attempted to delay his October 11 surrender date until December 7, 2024 — citing ongoing medical treatment for a dog bite — a motion strongly opposed by prosecutors and denied by Judge Lewis Kaplan in an October 10 ruling.
Following the collapse of the FTX exchange, the FTT token collapsed by more than 80% and wiped away over $2 billion in customer value.
FTX creditors will only get 10-25% of their cryptocurrency back, according to newly revised bankruptcy documents shared by FTX creditor Sunil Kavuri.
The FTX creditor-activist explained that the creditors would receive reimbursements according to the petition date when cryptocurrency prices were much lower than today. To put this into perspective, the price of Bitcoin (BTC) was approximately $16,000 at the time the legal petition was filed.
The decision to reimburse creditors and customers using petition date prices sparked outrage among FTX creditors, Kavuri told Cointelegraph:
The court and jury could have misunderstood Sam Bankman-Fried’s behavior during his criminal trial due to his autism and attention deficit disorders, doctors wrote in a recent amicus brief.
Sam Bankman-Fried’s criminal trial could have been hurt because of his neurodivergence disorders, leading to “longwinded answers” that frustrated the court, says a group of doctors in an amicus brief supporting his appeal.
The FTX co-founder is diagnosed with autism spectrum disorder (ASD) and attention-deficit/hyperactivity disorder (ADHD) that “posed serious challenges during proceedings in this case,” eight doctors focused on the field of neurodivergence told the Second Circuit Appeals Court in a Sept. 20 amicus brief supporting Bankman-Fried.
They claimed several rulings were detrimental to Bankman-Fried “because of his neurodivergence,” in particular the Manhattan district court’s ruling that government prosecutors could cross-examine him without a jury before he sat before jurors.
A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of Enforcement, emphasized that this multibillion-dollar recovery is the largest recovery in CFTC history. FTX and Alameda Ordered […]
According to the Wall Street Journal, the convicted FTX co-founder Sam Bankman-Fried (SBF) is being transferred from the Metropolitan Detention Center in Brooklyn to an undisclosed location. Sources speculate that SBF might be headed to the Federal Correctional Institution in Mendota, California (FCI Mendota). SBF’s Potential Transfer to FCI Mendota Speculated A Wall Street Journal […]
Ten days ago, the FTX estate overseeing the bankrupt company’s proceedings informed customers they would receive more than 100% repayment. Following this announcement, the exchange token FTT from the defunct trading platform rose above $2 per unit. Astonishingly, despite being tied to a failed crypto exchange, this token still holds a market valuation of $535 […]
The founder and former CEO of the now-collapsed FTX crypto exchange is speaking out from behind bars. Last week, a US judge sentenced disgraced FTX founder Sam Bankman-Fried (SBF) to 25 years in prison after the former crypto tycoon was convicted of fraud charges last year. Now, in the first week of his 25-year sentence, SBF says […]
The post Sam Bankman-Fried Speaks From Prison, Says FTX Victims Deserve To Be Paid in Full at Current Prices: Report appeared first on The Daily Hodl.
The fallen founder of FTX, Sam Bankman-Fried (SBF), broke his silence for the first time since being sentenced to 24.25 years in prison, engaging in an email conversation with ABC News. SBF expressed that he is “haunted” daily by the events that transpired, emphasizing his stance that he “never intended to hurt anyone.” Former FTX […]