FTX

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SBF's Ex-Girlfriend: He 'Directed' Me to Break Law

Caroline Ellison, who ran his Alameda trading platform, pins the blame on Sam Bankman-Fried

(Newser) - The government's star witness in its case against alleged crypto swindler Sam Bankman-Fried took the stand on Tuesday—and she pinned the blame squarely on him. "He directed me to commit these crimes," said Caroline Ellison, 28, per the New York Times . Ellison has a singular role...

SBF Made the Decisions, Former Executive Testifies

Gary Wang says FTX founder was behind the misuse of customers' $8B

(Newser) - There was no doubt about who made the major calls at FTX, a former top executive has testified in the federal fraud trial of Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange. "In the end, it was Sam's decision," Gary Wang, who took the stand for six...

One Journalist Was Beside SBF as FTX Boomed and Collapsed
His Access to
SBF Was Wild.
This Is the Result
longform
Oct 4, 2023 3:23 PM CDT

His Access to SBF Was Wild. This Is the Result

Michael Lewis' latest is 'Going Infinite: The Rise and Fall of a New Tycoon'

(Newser) - "Michael's got a horseshoe in his underwear," is how Billy Beane put it to the Guardian . He's talking about Michael Lewis, the acclaimed journalist of Moneyball (Beane was a "character" in that one), Big Short, and Liar's Poker fame. He also happened to have...

SBF Shows Up in Court With Very Different Hair

FTX founder Sam Bankman-Fried boasted surprising new coif during Tuesday court showing

(Newser) - Sam Bankman-Fried's wild mane of hair has earned almost as much notice as his alleged crimes, but we'll now have to get used to seeing him without it. The Guardian reports that the FTX founder, accused of fraud and money laundering, showed up for the first day of...

Biggest Surprise of SBF Trial? That It's Happening at All

Former poster boy for cryptocurrency is in court this week, and crypto world is rooting against him

(Newser) - This week brings a milestone in the world of cryptocurrency—the trial of accused fraudster Sam Bankman-Fried begins Tuesday in New York. Bankman-Fried, or SBF, founded the FTX exchange that famously went belly-up and cost a lot of people—many of them everyday investors swayed by celebrity endorsements—a lot...

FTX Is Taking Bankman-Fried's Parents to Court

Lawsuit seeking to claw back funds alleges Bankman, Fried 'ignored bright red flags'

(Newser) - Joe Bankman and Barbara Fried are being sued by the company their son used to run. FTX filed a lawsuit against the couple late Monday, seeking to reclaim funds it claims were "fraudulently transferred and misappropriated" by Sam Bankman-Fried's parents, CNN reports. The lawsuit filed in a Delaware...

Lawyer: SBF Is Living on Bread, Water, PB

Vegan is having a hard time behind bars, lawyer says

(Newser) - Sam Bankman-Fried is living entirely on bread, water, and occasionally peanut butter, according to a lawyer for the FTX founder. Bankman-Fried was earlier this month ordered to spend the time leading up to his October fraud trial in a Brooklyn jail rather than at his parents' house in Palo Alto,...

Judge Orders SBF Jailed Until Fraud Trial Begins

Sam Bankman-Fried tried to intimidate a potential witness, court rules

(Newser) - Accused of attempting to intimidate a witness, Sam Bankman-Fried was ordered Friday to await his fraud trial in jail rather than in his parents' home. US District Judge Lewis Kaplan made his decision after prosecutors told the Manhattan court the founder of FTX had acted to intimidate a witness. "...

Suit: SBF Had Eye on Buying Money-Laundering Haven

FTX founder wanted to scoop up island nation of Nauru, build bunker for the apocalypse, per suit

(Newser) - Sam Bankman-Fried likely had a lot of plans for the billions of dollars once in his digital wallet, but one that hasn't been talked about yet was his idea to scoop up an island nation, build a bunker for himself and other elites in his movement, and ride...

SEC Sues World's Biggest Crypto Exchange

Binance denies wrongdoing, but move rattles Bitcoin investors

(Newser) - It's another big jolt to the world of crypto: The Securities and Exchange Commission on Monday accused Binance, the world's largest cryptocurrency exchange, of engaging in a slew of shady financial practices, reports the Wall Street Journal . In all the SEC filed 13 charges against Binance and co-founder...

After 6-Month Attempt, Shaq Gets Served

TNT analyst was served 2 complaints Tuesday in FTX case while covering NBA in Miami: lawyer

(Newser) - Shaquille O'Neal denied a law firm's claim that it served legal papers to him in April after five months of trying, thereby clearing the final hurdle to launching a lawsuit against FTX's celebrity endorsers . A month later, however, the Moskowitz Law Firm says there can be no...

Celebs: We Shouldn't Be Liable for FTX Endorsements

The idea is 'nonsense,' Tom Brady, Larry David, others claim in court docs

(Newser) - After five months of trying, lawyers for a group of FTX investors who are suing celebrity endorsers say they've finally managed to serve the last of them: Shaquille O'Neal. "Plaintiffs in the billion $ FTX class action case just served @SHAQ outside his house," the Moskowitz...

More Bad News for SBF
More Bad News
for SBF
Mar 28, 2023 11:40 AM CDT

More Bad News for SBF

FTX founder has been indicted on charges of bribing Chinese officials to unlock $1B in crypto

(Newser) - If indictments were worth money, Sam Bankman-Fried might be accumulating enough of them to fix the failure of FTX . Feds on Tuesday announced that they've indicted the erstwhile 31-year-old billionaire on charges of conspiring to bribe Chinese government officials to unlock some $1 billion in cryptocurrency held by his...

Latest Crypto Failure Is Especially Troubling
Latest Crypto Failure
Touches 'Real' Bank System
the rundown
Mar 9, 2023 9:45 AM CST

Latest Crypto Failure Touches 'Real' Bank System

Silvergate Bank, called a 'cornerstone' of the industry, is shutting down

(Newser) - It's a familiar story of late: Bitcoin and other cryptocurrencies were sinking in value on Thursday after a financial entity's high-profile collapse. In this case, the entity is Silvergate Bank. But this one is different from the collapse late last year of crypto exchange FTX, as Elizabeth Lopatto...

Another Member of Bankman-Fried&#39;s Inner Circle Pleads Guilty
FTX Co-Founder
Pleads Guilty
Mar 1, 2023 6:40 PM CST

FTX Co-Founder Pleads Guilty

'I am unbelievably sorry for my role in all of this,' says Nishad Singh

(Newser) - FTX co-founder Nishad Singh pleaded guilty to six fraud and money laundering charges Tuesday, becoming the third exec from the collapsed cryptocurrency to agree to cooperate with prosecutors. The 27-year-old admitted that he knew founder and former CEO Sam Bankman-Fried was cheating customers by sending their funds, without their knowledge,...

Bankman-Fried Faces More Charges, Time

Potential prison sentence for conviction on all counts reaches 155 years

(Newser) - FTX founder Sam Bankman-Fried was hit with new fraud charges when an updated indictment was unsealed Thursday in Manhattan federal court. Prosecutors accuse him of cheating thousands of investors out of billions of dollars while casting himself as a trustworthy "savior of the cryptocurrency industry"—an image boosted...

FTX Would Like Its Donations Back, Please

Vaporized crypto exchange wants something on the order of $93M returned by Feb. 28

(Newser) - In the election cycle just past, then-wunderkind crypto gazillionaire Sam Bankman-Fried and his FTX cronies opened up their wallets and showered candidates with cash in what CoinDesk calls "a monumental influence campaign that crossed party lines." Now that FTX is bankrupt, and SBF's wallet is pretty much...

Fox Says There's Big Change in Super Bowl Ads This Year

Exactly zero ads for crypto, while Anheuser-Busch no longer is sole alcohol advertiser

(Newser) - The hottest advertising ticket in town is officially sold out. Fox said Monday that in-game ads for Super Bowl LVII have all been sold. The game between the Kansas City Chiefs and the Philadelphia Eagles is Sunday, with advertisers jockeying to get their products in front of the more than...

SBF's Lawyers Say Parents Are Now Targets

Lawyers want names redacted on court documents related to FTX founder's bail

(Newser) - FTX founder Sam Bankman-Fried pleaded not guilty in Manhattan federal court Tuesday to charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform. Bankman-Fried, 30, is accused of illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to...

Former SBF Partner in Court: 'I Knew It Was Wrong'

Caroline Ellison is cooperating in case against former business and romantic partner

(Newser) - One of the key parts of the case against disgraced crypto entrepreneur Sam Bankman-Fried may come from a former business and romantic partner. Caroline Ellison, 28, told a federal judge this week that she knew the way they were shifting money around was illegal, reports the Wall Street Journal . SBF...

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