Fried Financial News

Bankrupt crypto exchange FTX is seeking to recover $460 million of allegedly misappropriated customer funds from venture capital (VC) firm Modulo Capital, which received a sizeable investment from Alameda Research last year.

The lawyer representing crypto entrepreneur Sam Bankman-Fried (SBF) in the ongoing FTX case will soon present a revised bail package to Judge Lewis Kaplan of the Southern District of New York. The move comes after Kaplan expressed displeasure about SBF’s use of encrypted-messaging apps and virtual private network (VPN) services while out on bail.

Sam Bankman-Fried is seeking to use FTX's insurance policies to cover his legal expenses, according to a court filing on March 15. 

On Mar 10, Reuters reported that the U.S. District Judge Lewis Kaplan has expressed concerns over the proposed bail conditions for former FTX cryptocurrency exchange founder Sam Bankman-Fried. 

Prosecutors and attorneys for FTX founder Sam Bankman-Fried are requesting the disgraced cryptocurrency entrepreneur be allowed a flip-phone or another device thats not a smartphone while on bail.

The United States Department of Justice has proposed new bail conditions for former FTX CEO Sam Bankman-Fried (SBF), a court filing made late March 3 shows. 

FTX founder Sam Bankman-Fried may face additional restrictions on his internet usage as part of his bail conditions. The United States Department of Justice has recommended a flip phone with no internet connectivity for the disgraced founder.

Nishad Singh, the former director of engineering at now-defunct crypto exchange FTX, has pleaded guilty to U.S. criminal charges, agreeing to cooperate with the investigation into FTX founder Sam Bankman-Fried.

Lawyers representing former FTX CEO Sam Bankman-Fried in federal court have requested an extension to file a proposal related to his bail conditions.

Disgraced FTX founder Sam Bankman-Fried is facing more criminal charges, including charges for concealing information from banks.

Federal prosecutors charged Sam Bankman-Fried with several additional financial crimes and offered expansive new details about the FTX founder's alleged conduct before the collapse of his cryptocurrency exchange.

Federal prosecutors filed more criminal charges against Sam Bankman-Fried, who is already accused of stealing billions from investors and customers of the collapsed FTX cryptocurrency exchange, which he co-founded and where he served as CEO until its bankruptcy last November.

According to prosecutors, Bankman-Fried conspired with two former FTX executives to donate tens of millions of dollars in an effort to influence politicians to pass legislation that would help the company.The donations were made through "straw" donors or with corporate funds, helping Bankman-Fried to evade contribution limits, says the indictment.Bankman-Fried was arrested in December and in January pleaded not guilty to charges including wire fraud, conspiracy to commit money laundering and conspiracy to misuse customer funds.Two high-level associates, Carolyn Ellison and Gary Wang, had already pleaded guilty to several charges and are co-operating with a wide-ranging investigation into criminal activities at the bankrupt exchange."Exploiting the trust that FTX customers placed in him and his exchange, Bankman-Fried stole FTX customer deposits, and used billions of dollars in stolen funds for a variety of purposes," says the new indictment.A trial date has been set for October, with Bankman-Fried facing more than 100 years in prison if convicted.

In a superseding indictment filed with the United States District Court for the Southern District of New York on Feb. 22, U.S. Attorney Damian Williams alleged Bankman-Fried’s actions in the matter involving FTX and Alameda warranted 12 charges. According to the indictment, these included:

FTX founder Sam Bankman-Fried was a major donor to the Democratic Party in the US, but the politicians who received the donations have so far only promised return a fraction of what they got.

Nishad Singh, the former director of engineering for collapsed crypto exchange FTX and Sam Bankman-Fried's right-hand man, is preparing to reach a plea deal with U.S. prosecutors

Sam Bankman-Fried, the man behind the bankrupt crypto exchange FTX, is facing increasing scrutiny from a federal judge over his use of electronic devices while out on bail.

Former FTX CEO Sam Bankman-Fried could “conceivably” have his bail revoked after a federal judge said there was “probable cause” to believe he may have engaged in attempted witness tampering. 

Judge Lewis Kaplan reportedly targeted Sam Bankman-Fried’s internet usage in a hearing aimed at reviewing the former FTX chief executive officer use of a virtual private network, or VPN.

For the time being, neither of the two guarantors who endorsed a portion of Sam Bankman-250 Fried's million dollar bail bond will have their identities revealed to the public.

The names of two of FTX co-founder Sam Bankman-Fried's guarantors were revealed on Wednesday, after an unsealing motion from media companies including CNBC was granted by a Manhattan federal judge.