FTX Founder Sam Bankman-Fried Objects to Stricter Bail, Says Prosecutors Put Him in ‘Worst Possible Light’

FTX Founder Sam Bankman-Fried Objects to Stricter Bail, Says Prosecutors Put Him in ‘Worst Possible Light’

ByNews Polite

Lawyers for Sam Bankman-Fried on Saturday urged a US judge not to ban the indicted FTX cryptocurrency executive from communicating with former colleagues as part of his bail, saying prosecutors “sandbagged” the process to put their client in the “worst possible light.” The lawyers were responding to a Friday night request…

Sam Bankman-Fried Said to Reverse Decision to Contest Extradition to the US

Sam Bankman-Fried Said to Reverse Decision to Contest Extradition to the US

ByNews Polite

Former FTX Chief Executive Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday. The 30-year-old cryptocurrency mogul was indicted in federal…

FTX Aftermath: Canada Introduces Stringent Rules for Crypto Trading Platforms

FTX Aftermath: Canada Introduces Stringent Rules for Crypto Trading Platforms

ByNews Polite

The Canadian Securities Administrators (CSA) has spelled out a set of rules that must be abided by all platforms that offer crypto trading, in a bid to safeguard its residents from financial risks associated with crypto. The global crypto community is trying to overcome a major shake-up, in the aftermath…

FTX Crypto Collapse: At Least $1 Billion Client Fund Said to Be Missing

FTX Crypto Collapse: At Least $1 Billion Client Fund Said to Be Missing

ByNews Polite

At least $1 billion (nearly Rs. 8,050 crore) of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter. The exchange’s founder Sam Bankman-Fried secretly transferred $10 billion (nearly Rs. 80,500 crore) of customer funds from FTX to Bankman-Fried’s trading company Alameda Research,…