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According to Ellison, SBF had instructed her to divert billions of dollars from FTX customer funds, which Alameda used for failed investments, to pay off its debt.
After the FTX fiasco, regulators are out for blood.
After the November collapse of FTX, the cryptocurrency exchange he founded in 2019, Bankman-Fried unexpectedly gave a series of interviews intended to present his version of events.
Source: https://www.artesianews.com/2136730/ftx-founder-keeps-talking-ignoring-typical-legal-strategy.html
Alameda, at the direction of FTX founder Sam Bankman-Fried, had paid $25 million to acquire a stake in Modulo and contributed $450 million to an investment fund managed by Modulo, according to the filings.
Alameda Research was then discovered to be $8 billion in debt, with FTX having transferred customer funds to Alameda to plug the hole, leading to the exchange's inability to service customer withdrawals.
Source: https://www.cnet.com/culture/sbf-donated-millions-to-politicians-now-ftx-wants-that-money-back/
Around half (54%) say breaking news on companies involved in the sector such as the collapse of FTX or Genesis is the biggest factor while 51% say regulatory changes,” according to the poll.
Source: https://www.etftrends.com/crypto-channel/etfs-can-help-crypto-traders-get-hold-emotions/
A series of revelations late last year depicted sketchy maneuvers between FTX and Alameda Research, Bankman-Fried’s slightly older crypto hedge fund.
Source: https://wwd.com/business-news/technology/does-ftx-demise-matter-for-digital-fashion-1235461961/
ASIC did not answer questions about whether its suspension and liquidation of FTX had been poorly structured and could have even provided a path for any director of a company determined to hide money from creditors.
Source: https://thenewdaily.com.au/news/politics/2023/01/31/ftx-billions-australian-odyssey/
A spokesperson for Victory Fund did not immediately respond to VTDigger’s request for comment Monday on whether the organization had received the FTX letter.
At FTX, though, Ellison’s job was less about dodging authoritarian governments and more about making money from the explosion of interest and investment in cryptocurrencies.
At least three other FTX executives have pleaded guilty to US charges.
Bankman, a tax attorney, was accused of showering gifts upon his friends and family using FTX funds.
Source: https://www.chiangraitimes.com/business/ftx-sues-sam-bankman-frieds-parents/
Bankman-Fried, 30, has pleaded not guilty to charges that he illegally diverted massive amounts of customer money from FTX to Alameda Research, his cryptocurrency hedge fund trading firm.
Bankman-Fried, 31, had earlier pleaded not guilty to eight counts of fraud and conspiracy for allegedly stealing billions in FTX customer funds to plug losses at his hedge fund, Alameda Research.
Bankman-Fried, along with Gary Wang, co-founder of FTX, and Caroline Ellison, the former head of FTX's sister hedge fund Alameda Research, have all pleaded guilty in the ongoing case.
Bankman-Fried and FTX decamped to the Bahamas the same year.
Bankman-Fried is awaiting trial on criminal charges of stealing billions of dollars from FTX customers.
Bankman-Fried made a sizeable financial gift to his father, Stanford Law professor Joseph Bankman, in 2021 while still acting as CEO of FTX.
Bankman-Fried was extradited from the Bahamas on eight criminal charges stemming from the collapse of FTX, the crypto-exchange he founded.
Source: https://abcnews.go.com/Business/us-offers-drop-charges-now-sam-bankman-fried/story?id=100108547
Bankrupt crypto exchange FTX has sued the liquidators overseeing the wind-down of its Bahamian affiliate FTX Digital Markets, accusing them of wrongly claiming ownership of the exchange’s assets.