A group of FTX investors has agreed to drop legal claims against Sam Bankman-Fried. In exchange, the disgraced former crypto exchange CEO will cooperate in the investors’ suits against other defendants stemming from FTX’s collapse, including various celebrities paid to promote the exchange, according to court documents filed Friday (April 19). The settlement, first reported by Bloomberg News, comes weeks
Disgraced entrepreneur Sam Bankman-Fried agreed to help FTX investors in their legal spat with the company’s celebrity endorsers, including Tom Brady, Shaquille O’Neal, Stephen Curry, and Shohei Ohtani, as well as supermodel Gisele Bundchen and actor Larry David. Bankman-Fried, who founded FTX in 2019 and caused its bankruptcy in 2022, has agreed to cooperate in
The final word in Sam Bankman-Fried’s criminal fraud case came down last week, with the disgraced crypto king receiving a 25-year prison sentence and an $11 billion forfeiture. It was not only an end to the most high-profile corporate fraud trial of the past several years. It was also a final judgment on one of
Solana, the cryptocurrency platform that FTX fraudster Sam Bankman-Fried has recommended to his jail guards as a red-hot investment, has become ridden with racist and antisemitic coins. Sleazy crypto entrepreneurs — looking to grab cash in the middle of the massive Bitcoin rebound — are using Solana’s blockchain platform to mint a slew of crypto
Real Estate By Mary K. Jacob Published March 29, 2024, 3:50 p.m. ET All of Sam Bankman-Fried’s Bahamas real estate assets are about to be sold off. Sam Bankman-Fried, once hailed as a crypto prodigy, now faces a 25-year sentence for his role in an $8 billion fraud that rocked the cryptocurrency world. But while
NEW YORK (AP) — Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. Though he described Bankman-Fried as “extremely smart,” U.S. District Judge
Former cryptocurrency billionaire Sam Bankman-Fried was sentenced Thursday to 25 years behind bars for his role in perpetrating one of the largest financial crimes in U.S. history. Bankman-Fried, 32, was convicted in November of seven counts of fraud, conspiracy and money laundering, along with other charges of conspiracy to commit commodities and securities fraud. Bankman-Fried
Sam Bankman-Fried. File Photo Sam Bankman-Fried, once hailed as a cryptocurrency prodigy, is slated for sentencing on Thursday after being found guilty in a significant financial fraud case. US prosecutors are pushing for a 40-50 year prison term following a New York jury’s conviction of Bankman-Fried, also known as SBF, in November. The trial, lasting
Sometime between FTX’s collapse and Sam Bankman-Fried’s fraud conviction a year later, a consensus formed about the onetime boy genius of cryptocurrency: His wild, curly hair and beanbag chair naps at the office were largely for show, but his company FTX, which had been used by millions of people to buy and sell digital currencies,
Earlier this year, bankrupt cryptocurrency firm FTX called off plans to resurrect its exchange. And that was a missed opportunity, some of the company’s creditors told The Wall Street Journal in a report published Thursday (March 27). “They are responsible for destroying billions of dollars in value,” said Arush Sehgal, one of those creditors. “They had a thriving business