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Top related persons:
Bernie Madoff’s - 3 Sam Bankman - 2 Fried - 2 Elizabeth Holmes - 1 John Carreyrou - 1 meritocracy - 1 Madoff - 1 Holmes - 1
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New York FTX Bahamas Alameda Silicon America cryptocurrency United States
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New - 2 New York CNN - 2 Alameda Research - 2 Apple - 1 Miami Heat - 1 American Airlines - 1 FTX - 1 New Orleans Saints - 1

Search resuls for: "Bernie Madoff’s"


5 mentions found


☆ Reading List: Scams and Scammers
  + stars: | 2023-11-08 | by ( Amanda Taub | ) www.nytimes.com   time to read: +2 min
In financial frauds, the core promise is always essentially the same: profit without risk. But the details of how that promise gets packaged are telling. Madoff and Holmes profited by promising wealth and validation to elites who feared that not having enough of one meant they couldn’t really have the other. Bankman-Fried, by contrast, seems to have invented himself as the fulfillment of a very different desire: success outside the bounds of powerful institutions. In retrospect it was a perfect pitch for cryptocurrency speculators who wanted to believe that they, too, could make a fortune without any traditional financial background or connections.
Persons: Bernie Madoff’s, Elizabeth Holmes, John Carreyrou, meritocracy, Madoff, Holmes, Zeke Faux Organizations: Apple Locations: Silicon, America, cryptocurrency
☆ The 5 most memorable moments from the Sam Bankman-Fried trial
  + stars: | 2023-11-03 | by ( Jordan Valinsky | Allison Morrow | ) edition.cnn.com   time to read: +5 min
New York CNN —Sam Bankman-Fried was found guilty Thursday following a monthlong trial that was almost as wild as the rapid rise and fall of cryptocurrency exchange FTX itself. He was found guilty of stealing billions of dollars from accounts belonging to customers of FTX. During the trial, Bankman-Fried took the unusual – and risky – decision to testify in his own defense. “I was kind of busy and lazy and didn’t bother getting a haircut for long periods of time,” Bankman-Fried said. “No offense to the Kansas City Royals, but we didn’t want to be known as the Kansas City Royals of crypto exchanges,” SBF testified.
Persons: Sam Bankman, Fried, Bernie Madoff’s, Caroline Ellison, SBF’s, Mark Cohen, ” Cohen, “, ”, Cohen, SBF, Ellison, ” SBF, Lewis Kaplan, Kaplan interjected, Bankman, Danielle Sassoon, …, Sassoon, ’ Organizations: New, New York CNN, Alameda Research, Miami Heat, American Airlines, FTX, New Orleans Saints, Kansas City Chiefs, Kansas City Royals, Kaseya, PR, Alameda Locations: New York, FTX, Bahamas, United States, Kansas City, Bankman, China, Alameda
☆ Verdict reached in Sam Bankman-Fried fraud trial
  + stars: | 2023-11-02 | by ( Allison Morrow | ) edition.cnn.com   time to read: +4 min
New York CNN —Sam Bankman-Fried was found guilty on Thursday for his role in the collapse of crypto exchange FTX. Bankman-Fried looked sunken as the verdict was read out. Bankman-Fried was found guilty of stealing billions of dollars from accounts belonging to customers of his once-high-flying crypto exchange FTX. During his trial, Bankman-Fried said he learned in 2020 that FTX customer funds were held by Alameda but he did not take action to safeguard them. But, unlike bank customers, FTX depositors had no federal insurance fund to compensate them when the cash dried up.
Persons: Sam Bankman, Fried, Joe Bankman, Barbara Fried, Bernie Madoff’s, FTX, Tom Brady, Gisele Bundchen, Gary Wang, Nishad Singh, Wang, Singh Organizations: New, New York CNN, Alameda Research, Bankman, Miami, Chief Locations: New York, Alameda, FTX, Bahamas
☆ Bernie Madoff’s Former Hamptons Home Sells for $14 Million
  + stars: | 2023-03-21 | by ( Sarah Paynter | ) www.wsj.com   time to read: 1 min
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. The former Hamptons home of late disgraced financier Bernie Madoff has sold for $14 million, according to the local Multiple Listing Service.
☆ FTX flop evokes history’s great financial swindles
  + stars: | 2022-11-18 | by ( Edward Chancellor | ) www.reuters.com   time to read: +7 min
As Walter Bagehot wrote in “Lombard Street” in 1873, “The good times too of high price almost always engender much fraud. As cryptocurrencies declined in value, FTX provided a line of credit to BlockFi, a stricken crypto-lender. He talked about Three Arrows Capital, the failed crypto hedge fund, as engaged in “punting”. His firm launched a product based on a basket of crypto assets that it called Shitcoin Index Perpetual Futures, with the unsubtle ticker SHIT-PERP. He commissioned an advertisement, aired during the Super Bowl, in which the comedian Larry David casts doubt on the viability of FTX.
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