FTX
Finally, some good news! This week, we were pleasantly surprised to see that FTX’s fraud victims would be getting some money back — even if…
Bankruptcy lawyers representing customers impacted by the dramatic crash of cryptocurrency exchange FTX 17 months ago say that the vast majority of victims will receive their money back — plus interest. The…
TechCrunch Minute: Sam Bankman-Fried’s sentencing marks an end to the FTX saga
After a lengthy trial and conviction, we finally learned how long former crypto baron Sam Bankman-Fried will be behind bars: up to 25 years. It’s a lengthy sentence, but one…
SBF’s prison sentence marks the end of the crypto grift era — so what’s next?
Nearly everything else that’s being built on or enabled by blockchains replaces something that’s already being done fairly well.
Sam Bankman-Fried gets 25 years in prison for fraud and money laundering at FTX, ordered to pay $11B in forfeiture
Before sentencing, Bankman-Fried acknowledged in court that he made a “series of bad decisions,” but argued they were not “selfish” ones.
Rails launches with $6.2M round for its decentralized FTX alternative
Rails, a decentralized crypto exchange, has raised $6.2 million in attempts to fill the void FTX left behind after crashing in 2022, the startup’s co-founder and CEO Satraj Bambra exclusively…
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How crypto exchange Backpack climbed its way to success after its major investor FTX died
Backpack’s founders, who are building a crypto exchange and wallet, have experienced strong growth since launching in 2022. But the road wasn’t easy. FTX co-led Backpack’s $20 million strategic investment round in September 2022. Less than two months later, in November 2022, FTX collapsed. “We lost 80% of the operating…
Prosecutors will likely proceed with SBF’s second trial in March
Bankman-Fried won’t be sentenced till March, but he also has a second trial where he faces additional charges, including for foreign bribery.
Sam Bankman-Fried, the co-founder and former CEO of crypto exchange FTX and trading firm Alameda Research, has been found guilty on all seven counts related to fraud and money laundering. The…
Welcome back to Chain Reaction. It’s week five of the Sam Bankman-Fried trial and a lot has happened for the former CEO of FTX.
SBF’s prosecutors emphasize the case is not about crypto: ‘It’s about lies. It’s about stealing, greed.’
Assistant U.S. attorney Nicolas Roos stood in front of jurors from 10 a.m. ET until the court broke for lunch around 1 p.m., reiterating the prosecution’s case: Bankman-Fried lied.
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SBF said nothing and everything in his testimony, all at the same time
Bankman-Fried was seemingly incapable of answering the prosecution’s questions clearly, or speaking plainly about his activities when he was CEO of FTX.
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SBF’s defense puts forth a 35-minute last-ditch effort to show his goodwill
Contrary to the picture prosecutors tried to paint, Bankman-Fried insisted that he was not involved in the day-to-day trading operations of Alameda or its “core operations.”
The prosecution brought up a number of Bankman-Fried’s statements, videos and interviews, both before and after he stepped down as CEO of FTX.
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Sam Bankman-Fried says he didn’t defraud FTX customers or take their funds
“I made a number of small mistakes,” Bankman-Fried said Friday. The main one being not having a risk management team at FTX.
The judge sent the jury home. He first wanted to review Sam Bankman-Fried’s comments before determining whether that testimony could be shared with jurors.
SBF testifying, bitcoin rises amid spot ETF speculation and Walmart’s web3 accelerator surfaces
It’s week four of the Sam Bankman-Fried trial…and he’s taking the stand today at 2 p.m. So keep an eye out for additional coverage.
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SBF trial: Everything to know from the FTX courtroom ahead of his testimony
The trial of Bankman-Fried, the former CEO and co-founder of collapsed crypto exchange FTX, is entering its next chapter as proceedings resume Thursday. As confirmed during a teleconference Wednesday, SBF will be taking the stand, along with a handful of other witnesses as the onus shifts toward the defense after…
As SBF plans to testify, former SDNY federal prosecutor sees it as a ‘Hail Mary’
Bankman-Fried testifying comes with risk of more evidence mounting against him.
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Ex-SDNY prosecutor says Caroline Ellison, Gary Wang and Nishad Singh probably won’t get jail time
Gary Wang, co-founder and CTO of FTX; Caroline Ellison, CEO of Alameda; and Nishad Singh, FTX head of engineering, all pleaded guilty to charges a month after the crypto exchange and sister company’s downfall in November 2022. In recent weeks, all three parties took the stand to testify against Sam…
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Third Point managing director doubles down on SBF investor fraud in trial testimony
Robert Boroujerdi, managing director at Third Point, testified on Thursday at Sam Bankman-Fried’s trial in assistance with the government’s case to try and find the defendant guilty on seven counts related to fraud and money laundering. Boroujerdi formerly served as the head of global securities research at Goldman Sachs. He…
SBF trial brings in FTX exec and experts, NY AG sues three crypto firms for fraud, Reddit kills blockchain program and FTC sues bankrupt Voyager
Welcome back to Chain Reaction. It’s week three of the Sam Bankman-Fried trial…how are you holding up?
SBF asked FTX general counsel to create ‘legal justification’ for using billions in customer funds amid collapse
Can Sun, former FTX general counsel, took the stand on Thursday to testify on behalf of the prosecution’s case against Sam Bankman-Fried. Sun has a non-prosecution agreement in exchange for…
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FTX misused customer funds, accounting expert who assisted in Enron prosecution testifies
The Sam Bankman-Fried trial is 11 days in and witnesses continue to take the stand on behalf of the prosecution’s case. The defamed former co-founder of FTX and Alameda is on trial for seven criminal charges related to fraud and money laundering. On Wednesday, Peter Easton, an accounting professor at…
Sam Bankman-Fried and other FTX executives spent $8 billion worth of customer funds on real estate, venture capital investments, campaign donations, endorsement deals and even a sports stadium, according to…
Alameda Research allegedly paid Chinese officials around $150M to regain $1B worth of exchange accounts
The accounts were reopened to Alameda after Ellison made about $100 million to $150 million in payments of “crypto transfers” to accounts.
On January 14, 2022, former crypto mogul Sam Bankman-Fried tweeted: “First, we’re launching a $2 billion venture fund, FTX Ventures. As a founder, it’s important to support other founders creating…
Alameda Research’s ex-CEO Caroline Ellison testifies, claims SBF directed her to commit crimes
Caroline Ellison, the ex-CEO of Alameda Research, took the stand as the fifth witness for the prosecution in Sam Bankman-Fried’s six-week trial.
As SBF’s trial heads into its second week, here’s what we know so far
Here are the juicy details we gleaned from the first week of testimonies.
‘Marked to zero’: Paradigm testimony at SBF trial points to investor fraud
The testimony of Matt Huang, co-founder and managing partner of crypto investment firm Paradigm, at Sam Bankman-Fried’s trial may help the prosecution convince jurors that the former crypto mogul defrauded…
