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The witnesses painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. She was apprehensive about the move, she said, because she knew that would mean borrowing $1 billion in FTX customer funds for the transaction. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. But Mr. Sun, who testified after securing an agreement that prosecutors would not pursue charges against him, said he had once again told Mr. Bankman-Fried that none of those options were supported “by the facts.” Mr. Bankman-Fried responded by saying “something like, ‘Got it,’” Mr. Sun testified.

Persons: Sam Bankman, Fried, Bankman, Caroline Ellison —, Adam Yedidia, Mr, Yedidia, FTX, ” Caroline Ellison Ms, Ellison, Ms, Gary Wang Mr, Wang, ”, coder, Nishad Singh Mr, Singh, Gabe, Gabe Bankman, ” Mr, Prosecutors, Barbara Fried, Nishad Singh, Sun, ’ Organizations: Alameda Research, Massachusetts Institute of Technology, Stanford, Mr, Prosecutors, America Locations: Bahamas, Alameda, Binance, Pandemics

The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. But Mr. Sun, who testified after securing an agreement that prosecutors would not pursue charges against him, said he had once again told Mr. Bankman-Fried that none of those options were supported “by the facts.” Mr. Bankman-Fried responded by saying “something like, ‘Got it,’” Mr. Sun testified. Prosecutors then played a clip from an interview that Mr. Bankman-Fried gave ABC’s “Good Morning America” days before FTX filed for bankruptcy in November.

The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. She was apprehensive about the move, she said, because she knew that would mean borrowing $1 billion in FTX customer funds for the transaction. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. Prosecutors then played a clip from an interview that Mr. Bankman-Fried gave ABC’s “Good Morning America” days before FTX filed for bankruptcy in November.

☆ 'I'd been suicidal for days': Sam Bankman-Fried lieutenant testifies about immense pressure to keep FTX crypto scam going — before it all crashed
▼ + stars: | 2023-10-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +13 min

He testified at the Sam Bankman-Fried trial that he was 'suicidal' over the crypto scam. AdvertisementAdvertisement"I've always been intimidated by Sam," Singh testified Monday. Before the September 2022 realization that Alameda was taking FTX customer money, Singh had participated in fraudulent activity in other ways. When he returned, the FTX CEO told Singh that he believed he could get $5 billion more in investments, Singh testified. As the chaos continued to roil FTX, Bankman-Fried, Ellison, and other executives pointed fingers at each other while employees and customers demanded answers, Singh said.

Persons: Nishad Singh, Sam Bankman, —, Singh, Gary Wang, Caroline Ellison, Wang, Fried, unsurprised, Ellison —, Ellison, FTX wouldn't, he'd, Gabe Bankman, Adam Yedidia, Singh —, Ryan Salame —, Singh's, Sam, FTX, Mary Altaffer, Anthony Scaramucci, Seth Wenig, Salame —, funneling, Coindesk, FTX —, Binance, Jane Rosenberg Bankman, Bankman, I'd, roil Organizations: Service, Alameda Research, Bankman, Alameda, AP, Democratic, Prosecutors, REUTERS Locations: Alameda, FTX, Bahamas, Manhattan, New York, Bankman

☆ Sam Bankman-Fried's lieutenant Nishad Singh said he was embarrassed by 'flashy' FTX spending
▼ + stars: | 2023-10-16 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +8 min

Singh testified at Bankman-Fried's trial that his concerns were almost always rebuffed. In Manhattan federal court Monday, Singh testified about how he frequently questioned and pushed back against Bankman-Fried's spending sprees and investment decisions — and was almost always rebuffed. "I would hear that my opinions were already factored in, and I didn't need to continue sharing them," Singh testified. Singh testified that he came to know Bankman-Fried through a friendship with the FTX founder's younger brother, Gabe Bankman-Fried. Infighting over expensesThe pair often disagreed on money, Singh testified.

Persons: Nishad Singh, Sam Bankman, Singh, —, Fried, Bill Clinton, Tony Blair, spender, Caroline Ellison, Gary Wang, Gabe Bankman, FTX, SBF, I've, Sam, Tom Brady, Gisele Bündchen, Steph Curry, Kevin O'Leary, Larry David, Jon Kopaloff, Fatih Aktas, Getty Images Singh, Michael Kives, Hillary Clinton, Katy Perry, Orlando Bloom, Ted Sarandos, Jeff Bezos, Kate Hudson, Leonardo DiCaprio, Corey Gamble, Kendall Jenner, Singh wasn't, Kris Organizations: Service, Bankman, Alameda, US Securities and Exchange Commission, University of California, Facebook, Engineering, Sequoia Capital, Yuga, Miami, Major League Baseball, of Legends, Getty Images, Anadolu Agency, K5 Global Locations: Bankman, FTX, Manhattan, Berkeley, Alameda, Bahamas, Kazakhstan, Albany

☆ FTX lobbyist tried to buy Pacific island of Nauru to create a new superspecies, lawsuit says
▼ + stars: | 2023-07-21 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried's younger brother, who was a top lobbyist for failed crypto exchange FTX, considered purchasing the island nation of Nauru in the Pacific to create a fortified apocalypse bunker-state, a lawsuit filed in Delaware bankruptcy court shows. There's also a fascination with buying large estates in the Pacific, and even owning small islands there. In his years running FTX, the elder Bankman-Fried brother touted a philanthropic lifestyle called effective altruism and established the philanthropic arm with that in mind. Along with an unnamed philanthropic officer of FTX, he considered buying Nauru, in part to foster "sensible regulation around human genetic enhancement, and build a lab there." A representative for Nauru confirmed the island nation was not and has never been for sale.

Persons: Sam Bankman, Gabe Bankman, Fried, Cromwell, There's, FTX, Clinton Organizations: Sullivan, Washington , D.C, Nauru, Fried Locations: Nauru, Delaware, Washington ,, Brisbane, Australia

☆ FTX planned to purchase the Pacific island nation of Nauru to build an apocalypse bunker, lawsuit says
▼ + stars: | 2023-07-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

FTX is suing Sam Bankman-Fried and other former bosses for $1 billion. SBF's brother discussed turning the island country of Nauru into an apocalypse bunker, the suit says. FTX wanted to purchase the Pacific island nation of Nauru to build a bunker in case of an apocalyptic event, according to a new lawsuit. The complaint says that the FTX founder's brother, Gabriel Bankman-Fried, discussed with an officer for the FTX Foundation a scheme to purchase the country of Nauru. A spokesperson for Sam Bankman-Fried did not immediately return Insider's request for comment.

Persons: FTX, Sam Bankman, John J, Ray III —, Gabriel Bankman, Gabe Bankman, Fried Organizations: FTX, EA, FTX Foundation, Twitter Locations: Nauru, It's, Australia

☆ FTX’s Rise and Fall in Washington Shows You Just How Lost D.C. Is Without Trump - The New York Times
▼ + stars: | 2023-06-15 | by ( Ben Terris | ) www.nytimes.com time to read: +1 min

Before everything fell apart, Gabe Bankman-Fried believed he had a superpower that could help him deal with Washington’s many blowhards and suck-ups. “I spent a lot of the last year staring into the eyes of politicians,” he told me in October 2022. And thanks to Gabe’s brother, Sam Bankman-Fried, the then-billionaire and head of the FTX cryptocurrency exchange, GAP had plenty of that. Sam Bankman-Fried dropped $27 million into Protect Our Future, a super PAC with similar stated goals. This kind of money made Gabe a big deal in Washington.

Persons: Gabe Bankman, Fried, “, ”, Sam Bankman, Gabe Organizations: GAP, Washington Locations: Washington

☆ How FTX founder SBF and friends quietly donated to political groups and relatives
▼ + stars: | 2022-12-19 | by ( Brian Schwartz | ) www.cnbc.com time to read: +10 min

FTX founder Sam Bankman-Fried is led by officers of the Royal Bahamas Police force following his arrest. The disgraced CEO donated to his brother Gabe Bankman-Fried's nonprofit organization, Guarding Against Pandemics. Alameda Research donated more than $12 million to Gabe Bankman-Fried's nonprofit since late last year, according to California state campaign finance records. California state campaign finance records show Alameda donated $5 million to Guarding Against Pandemics last year and $7.1 million this year. Guarding Against Pandemics also paid political communications and media company GMMB just over $690,000 last year for advertising and production, its tax form says.

☆ PHOTOS: Inside the $3 million DC townhouse where FTX founder Sam Bankman-Fried's brother hosted parties for his COVID-19 nonprofit
▼ + stars: | 2022-11-27 | by ( Jordan Hart | ) www.businessinsider.com time to read: 1 min

The organization, aimed at preventing another pandemic, was partly funded by SBF. The move to the US capital was meant to send the message that the FTX founder "and his network were in DC to stay," according to a report from Puck. Living room in the townhouse owned by Gabe Bankman-Fried's nonprofit. Bright MLSSource: Puck

☆ Vegan canapes and fat donations: How Sam Bankman-Fried won Washington before he lost everything
▼ + stars: | 2022-11-16 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +13 min

Everybody was trying to get in,” said one source close to the Bankman-Frieds’ political operation who requested anonymity to speak candidly. Attempts to contact Sam Bankman-Fried for this article were unsuccessful. Sam Bankman-Fried’s mentor and the spiritual leader of Effective Altruism has disowned him. Sam Bankman-Fried is a Democrat, and he spent at least $40 million supporting the party. Some of the biggest recipients of Bankman-Fried’s money did not respond to NBC News when asked about donations they received.

☆ Former FTX CEO Sam Bankman-Fried and allies lose influence in Washington as company collapses
▼ + stars: | 2022-11-14 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

Former FTX CEO Sam Bankman-Fried and his allies are losing advocates in Washington, as the company hits rock bottom. 2 Senate Democrat told CNBC on Monday that the contribution "will be donated to an appropriate charity." It was announced in February that FTX and FTX US were joining the group's board of directors. A spokesman for the crypto trade group told CNBC that "on Thursday, ADAM removed FTX.com and FTX.US from its membership." The lobbying group is led by the former Secretary of Homeland Security Tom Ridge.

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