Caroline ellison

Sam Bankman-Fried am Bankman-Fried, the disgraced cryptocurrency executive, on Thursday made his first detailed response to the criminal charges filed against him last month, arguing that the millions of customers of his collapsed exchange, FTX, could still get their money back. In a statement published on Substack, Bankman-Fried said that “very substantial recovery remains potentially available.” “I didn’t steal funds, and I certainly didn’t stash billions away,” he wrote. “Nearly all of my assets were and still are utilizable to backstop FTX customers.” His statement came a day after the lawyers overseeing FTX’s bankruptcy said in court that they had recovered at least $5 billion in funds. Bankman-Fried cited that announcement to try to bolster his case that FTX customers could still be made “substantially whole.” It was not clear whether he had vetted his statement with his legal team before publishing it. FTX filed for bankruptcy in November after a run on customer … [Read more...] about FTX founder makes first detailed response to fraud charges

The loan was among several deals struck with Jean Chalopin, the head of Deltec and Moonstone banks — and co-creator of Inspector Gadget — who forged a lucrative relationship with FTX. I n late 2021, Deltec was well on its way to becoming one of the world’s most consequential crypto banks — but it needed money. An obscure Bahamian bank born from private wealth management, it had found a profitable, yet risky new role as the banker of choice for crypto giants. After signing on Tether, a wildly popular "asset-backed" stablecoin that had been dropped by traditional financiers, Deltec amassed a roster of white hot clients, among them the $32 billion crypto exchange FTX, then one of the largest. Before FTX collapsed in November, it appeared flush with cash, spending lavishly across the Bahamas, while its founder Sam Bankman-Fried was lauded as a “future trillionaire.” Amid the dollar signs surrounding his new client, Deltec chairman Jean Chalopin saw an answer to his … [Read more...] about FTX Secretly Channeled A $50 Million Loan To Its Bahamian Bank Through An Executive’s Company

Failed crypto tycoon Sam Bankman-Fried invested $1 billion into Genesis Digital Assets, a bitcoin miner in Kazakhstan, just months before the collapse of his FTX platform heralded a crypto winter that's looking more like an ice age. Key Takeaways Former FTX CEO Sam Bankman-Fried’s Alameda Research invested about $1 billion in Kazakh bitcoin miner Genesis Digital Assets, bankruptcy disclosure has shown. Bankman-Fried joined the board of the mining firm in October 2021, but resigned in November 2022, a day before FTX filed for bankruptcy protection. The sizable investment, one of FTX's largest assets, is yet another insight into the FTX collapse, which has irked the crypto community as about 1 million FTX creditors await repayment. Bankman-Fried has defended his dealings as the head of FTX on social media, saying he "didn't steal funds." $1 Billion On Mining Firm Alameda invested $1 billion between August 2021 and April 2022 four times: $100 million … [Read more...] about Bankruptcy Reveals $1 Billion FTX-Tied Stake in Bitcoin Miner

FTX FTX's former top lawyer Daniel Friedberg has cooperated with U.S. prosecutors as they investigate the crypto firm's collapse, a source familiar with the matter said, adding pressure on founder Sam Bankman-Fried who was arrested on criminal fraud charges last month. Friedberg gave details about FTX in a Nov. 22 meeting with two dozen investigators, the person said. The meeting, held at the U.S. Attorney for the Southern District of New York's office included officials from the Justice Department, Federal Bureau of Investigation, and the U.S. Securities and Exchange Commission, the source said. Emails between attendees scheduling the meeting with those agencies were seen by Reuters. At the meeting, he told prosecutors what he knew of Bankman-Fried's use of customer funds to finance his business empire, the source said. Friedberg recounted conversations he had with other top executives on the subject and provided details of how Bankman-Fried's hedge fund Alameda Research … [Read more...] about FTX’s former top lawyer Daniel Friedberg aided US authorities in Sam Bankman-Fried case

Share to Twitter Share to Linkedin The Academy of Motion Picture Arts and Sciences announced their nominations for the 95th annual Academy Awards, and the selection of 2022 films and filmmaking has once again snubbed Black films, filmmakers, and lead actors in favor of mostly white nominees. Acclaimed and previously anticipated major contenders like The Woman King ( the best film of 2022 in my estimation ) and Till were completely ignored and received zero nominations. I realize this conversation will inherently make many if not most of the nominees uncomfortable, specifically the white nominees who want to celebrate their nomination and be proud of their own work. But changing these things starts with talking about these things and calling out when it happens, and that is inherently going to make a lot of white people uncomfortable but it also inherently has to happen and white people have to understand their own discomfort in this context is nothing … [Read more...] about Oscars Snub Black Cinema, Filmmakers, And Leads In 2022 Nominations [UPDATED]