DIRS.INFO The most relevant business & tech news

☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

☆ Sam Bankman-Fried was the 'the poster child' of the effective altruism movement, now the charity he bankrolled is shutting down
▼ + stars: | 2024-04-06 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

An "effective altruism" charity backed by Sam Bankman-Fried is set to close. The jailed former crypto billionaire was a major proponent of effective altruism. AdvertisementA UK-based "effective altruism" charity funded by the disgraced former cryptocurrency billionaire Sam Bankman-Fried is set to close. Effective Ventures Foundation UK, originally incorporated in 2012, reported income of more than £140 million in 2022, which is around $177 million as of April 2024. The UK Charity Commission also opened an inquiry into Effective Ventures UK in December 2022 in order to assess any potential risks to the charity's assets.

Persons: Sam Bankman, —, Luke Kemp, Michael Lewis, Fried Organizations: Service, Ventures Foundation, University of Oxford, University of Cambridge's, Harvard Law School, Alameda Research, Financial Times, UK, Commission, Ventures UK Locations: Oxford, Silicon Valley, FTX

☆ Sam Bankman-Fried could go to a low-security prison and get out early if he plays his cards right, prison consultants say
▼ + stars: | 2024-03-29 | by ( Katie Balevic | ) www.businessinsider.com time to read: +5 min

A court sentenced Sam Bankman-Fried, the fallen king of crypto, to 25 years in prison on Thursday. Advertisement"In my opinion, he's going to a low-security facility, not to a medium. It would be a PR disaster if he went to a medium and got hurt," prison consultant Sam Mangel told BI. I don't think he's going to have a problem with physical harm or rape or anything like that. "He's going to want to do things to pass the time."

Persons: Sam Bankman, he'll, SBF's, Lewis Kaplan, he's, Sam Mangel, Mangel, Fried, Maureen Baird, Baird Perdue, Baird, Judge Kaplan, Jane Street, Kaplan Organizations: Service, Business, Federal Bureau of Prisons, San Francisco Bay Area, Prisons, Baird Perdue & Associates, Jane, Capital Locations: Manhattan, San Francisco Bay, New York, California

☆ It's sentencing day for Sam Bankman-Fried
▼ + stars: | 2024-03-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, disgraced crypto executive Sam Bankman-Fried finds out how long he's going to prison . Sam Bankman-Fried, the ex-CEO of FTX and former face of crypto, will be sentenced in a Manhattan courtroom today. An FTX debtor lawyer told the bankruptcy court that FTX customers and creditors "will eventually be paid in full." AdvertisementGetty Images; Alyssa Powell/BIBut according to some, FTX customers getting their money back is despite SBF, not because of him. Almost a third of young people reported using ChatGPT "for tasks at work."

Persons: —, Sam Bankman, Fried, Chelsea Jia Feng, Lewis Kaplan, E, Jean Carroll, Donald Trump, Insider's Jacob Shamsian, FTX, Alyssa Powell, John J, Ray III, SBF, What's, Bernstein, Toni Sacconaghi, they've, Dan DeFrancesco, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Prosecutors, Big Tech, Companies, Pew, ChatGPT, Microsoft, League Baseball's Locations: Manhattan, New York, London, Chicago

☆ We're watching an American retirement crisis unfold
▼ + stars: | 2024-03-25 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +7 min

The big storyRetirement crisisart-4-art/Getty Images; Adobe Firefly; Jenny Chang-Rodriguez/BIWhat was once a natural part of the American dream — retirement — is now a luxury many workers can't afford. All of that combines to form a growing, and increasingly bleak, American retirement crisis. Plus, some who do leave work early end up regretting it . AdvertisementWhile early retirement isn't for everyone, retirement at its most basic level — leaving work after most of our adult lives — should be. The notion that people who've done everything they were supposed to, and still can't retire, points to major problems in the system at large.

Persons: —, Jordan Parker Erb, Dan DeFrancesco, Haven't, Jenny Chang, Rodriguez, they've, Juliana Kaplan, doesn't, Juliana, who's, she's, Alounthong, Getty, Klaus Vedfelt, Tyler Le, Zers, millennials, Warren Buffett's, Buffett, Sam Bankman, Daniel Jurman, it's, Rebecca Zisser, Elon Musk, Donald Trump, Hallam Bullock, George Glover, Grace Lett, Lisa Ryan Organizations: Service, Business, Pensions, Social Security, Prosecutors, BI, Apple, Accenture, Deloitte, Google Locations: America, India, China, American, New York, London, Chicago

☆ FTX's victims may get all their money back. The judge sentencing Sam Bankman-Fried might not care.
▼ + stars: | 2024-03-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried bilked FTX customers out of over $8 billion, according to prosecutors. AdvertisementAccording to federal prosecutors, Sam Bankman-Fried orchestrated one of the biggest criminal frauds in the history of the world. According to his lawyers, FTX's customers might get all their money back. According to prosecutors, Bankman-Fried was responsible for more than $11 billion in fraud overall between FTX customers and investors in FTX and Alameda Research. The recovered calculations, too, distort how much money customers are actually getting back.

Persons: Sam Bankman, —, Fried, FTX, John J, Ray III, Ray, Lewis Kaplan, Kaplan, Sarah Krissoff, Cozen O'Connor, Krissoff, it's, Sarah Silbiger, Bankman, bitcoin, Rachel Maimin, Lowenstein Sandler, Barbara Fried, Mark Cohen, Jane Rosenberg Bankman, Maiman, Maimin, Caroline Ellison Organizations: Service, FTX, Bankman, Alameda Research, US, United States, Second Circuit, U.S . House Financial, Capitol, Reuters, K5 Global, Prosecutors, Wall, REUTERS, Business, of Prisons, Alemda Research Locations: FTX, Manhattan, New Jersey, New York, Washington , U.S

☆ FTX fraudster Bankman-Fried seeks less than 7 year sentence, claims he is at risk of 'harm and extortion' in prison
▼ + stars: | 2024-02-28 | by ( Dan Mangan | ) www.cnbc.com time to read: +7 min

Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Thursday, Feb. 16, 2023. "The harm to customers, lenders, and investors is zero," Bankman-Fried's lawyers wrote. The lawyers wrote that Bankman-Fried has a "neurodiversity" that "greatly affects how he perceives and is perceived." It is not a disease or a condition that needs to be cured," the lawyers wrote. "Individuals with ASD are often at considerably greater risk of physical harm and extortion in prison than other inmates," the lawyers wrote.

Persons: Sam Bankman, Fried, Joseph Bankman, Barbara Fried, Lewis Kaplan, —, Michael Milken, Damian Williams, Williams, Kaplan, Marc Mukasey, Sam, Drexel Burnham Lambert, Milken Organizations: Bankman, Alameda Research, The Manhattan U.S, PSR, Defense, Drexel, CNBC PRO Locations: New York, FTX, Manhattan, Alameda, Brooklyn , New York

☆ Sam Bankman-Fried was just convicted. Where does crypto go from here?
▼ + stars: | 2023-11-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at Sam Bankman-Fried's conviction and what it means for the future of crypto. Sam Bankman-Fried, the crypto industry's most recognizable face (and head of hair), was found guilty of seven counts of fraud and conspiracy on Thursday night. Charges against Bankman-Fried included wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud, and conspiracy to commit money laundering. The conviction came, perhaps fittingly, on the first anniversary of the CoinDesk scoop that sent FTX, the crypto exchange Bankman-Fried co-founded and led, into a tailspin. The downfall was swift, with Bankman-Fried resigning as CEO and FTX collapsing just over a week after the initial report.

Persons: —, Katie Notopoulos —, Linda Yaccarino, Sam Bankman, Chelsea Jia Feng Down, Crypto, SBF, FTX, Fried, Katie Balevic, Jacob Shamsian, Katie, Chelsea Jia Feng, Miami —, That's, Brian Snyder Jamie Dimon, Jeff Gundlach, Gundlach, Mike Blake, Jack Dorsey, Samantha Lee, Janet Yallen, Sheryl Crow, Missy Elliott, isn't, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bankman, Alameda Research, Wall, BlackRock, PayPal, JPMorgan, Microsoft, Tech, Financial, Labor Statistics, Hall, Today Locations: FTX's, New York City, San Diego, London, New York

The FTX founder was convicted on fraud and conspiracy charges, and faces up to 110 years in prison. Joseph Bankman and Barbara Fried, who have both taught at Stanford Law, are tied up in the FTX scandal. As the jury announced the verdict, Barbara Fried, Bankman-Fried's mother, seemed to fight back tears. As the courtroom cleared out, Bankman-Fried's parents stood and embraced. Bankman-Fried's parents, both longtime Stanford law professors, were caught up in the FTX scandal.

Persons: Sam, Bankman, Joseph Bankman, Barbara Fried, —, Sam Bankman, Joe Bankman, Fried, FTX Organizations: Stanford Law, Service, Alameda Research, Stanford, FTX, Bankman, San Francisco Bay Area Locations: Manhattan, FTX, The Bahamas, San Francisco Bay

☆ SBF's conviction is the final nail in the coffin for crypto bros hoping to get rich quick
▼ + stars: | 2023-11-03 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

Sam Bankman-Fried was found guilty of all seven charges against him. AdvertisementAdvertisementA New York jury took less than five hours on Thursday to find Sam Bankman-Fried guilty of all seven charges the FTX founder faced. Now facing up to 110 years in prison, SBF's conviction marks the final nail in the coffin for the coterie of crypto bros who got rich quick. Bankman-Fried also testified he believed regulation would help give FTX a competitive edge over rival crypto exchange Binance. That complaint includes one especially damning exchange, in which the SEC alleges Binance's chief compliance officer said:"we are operating as a fking unlicensed securities exchange in the USA bro."

Persons: Sam Bankman, Fried, Crypto's, —, Renato Mariotti, that's, it's, SBF, Binance's, There's, Kwon, Luna, Elon Musk's, Joe Biden's Organizations: Service, bros, BlackRock, DMs, Securities, Exchange Commission, Binance, SEC, New York Magazine Locations: York, Japan, Washington, Binance, USA

☆ Here are the emails, texts and photos that could put Sam Bankman-Fried in prison for life
▼ + stars: | 2023-11-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Lawyers for the U.S. Attorney's office entered into evidence a series of photos featuring the $35 million penthouse where Sam Bankman-Fried and his fellow co-workers resided. Zoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Source: SDNYZoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Source: SDNYZoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Zoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried.

Persons: Sam Bankman, Fried, FTX, Renato Mariotti, Bryan Cave Leighton, Caroline Ellison, —, Alameda —, Ryan Pinder, Rob Creamer, didn't, Ellison, he'd, HOOD, they'll, FTX's, Sun, Bankman, Stephen Curry, Tom Brady, Giselle Bundchen, Larry David, Nishad Singh, Michael Kives, Bryan Baum, Hillary Clinton, Katy Perry, Orlando Bloom, Leonardo DiCaprio, Kris, Kylie Jenner, SDNY Singh, Baum, Drappi, Jane Rosenberg, Joe Bankman, Ramnik Arora, Ryne Miller, Constance Wang, Ryan Salame, Changpeng Zhao, Michael Lewis, Singh, Lewis Organizations: U.S . Justice Department's Securities, Commodities, Lawyers, U.S, Alameda Research, Alameda, Geneva Trading, FIA, Traders Group, Wall Street Journal, Google, shuttering, Prosecutors, NBA, Major League Baseball, K5, Federal Court Locations: Chicago, Bahamas, Bankman, Alameda, FTX, shuttering Alameda, Hong Kong, New York City, U.S, Sequoia, Alameda's

☆ Sam Bankman-Fried blames top lieutenants for FTX troubles in second day of testimony in criminal trial
▼ + stars: | 2023-10-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +10 min

The market had already dropped 70% and if it fell another 50%, he was afraid the firm would be insolvent, Bankman-Fried told the jury. In describing the swift downfall of FTX, Bankman-Fried said that customer withdrawals had quickly increased from $50 million a day to $1 billion a day. For example, Sassoon asked Bankman-Fried if he assured people that Alameda played by the same rules as others on the FTX exchange. Sassoon asked Bankman Fried, "Would you agree you know how to tell a good story?" Sassoon asked.

Persons: Sam Bankman, Fried, Kyle Mazza, FTX, Mark Cohen, Caroline Ellison, Ellison, Gary Wang, Nishad Singh, Singh, Sun, Jane Rosenberg, Renato Mariotti, Bryan Cave Leighton Paisner, Mariotti, Danielle Sassoon, I'm, Sassoon, Bankman, Crypto, wasn't, Bankman Fried, Vox, he's, Alameda, —, Dawn Giel Organizations: Court, Anadolu Agency, Getty, Alameda Research, Alameda, Bloomberg, Apollo, Reuters, U.S . Justice Department's Securities, Commodities, CNBC, U.S, PR Locations: New York City, Alameda, New York, U.S, Chicago

watch nowLawyers for Sam Bankman-Fried late Wednesday revealed details of his planned testimony if he takes the witness stand at his FTX fraud trial. Earlier Wednesday, one of Bankman-Fried's two chief trial attorneys, Mark Cohen, said in a conference call that his client would testify as would three other people. Cohen cited specific examples where, at the guidance of FTX lawyers, Bankman-Fried adopted a policy which prosecutors argued shows his criminality. But Cohen wrote that Bankman-Fried's understanding was that these auto-deletion policies were "instituted under the guidances of lawyers." "We respectfully submit that Mr. Bankman-Fried's knowledge of industry practices regarding the use of omnibus wallets is relevant to his good faith belief that his conduct was permissible," the letter added.

Persons: Sam Bankman, Judge Lewis Kaplan, Kaplan, Mark Cohen, Cohen, Fried, Caroline Ellison, Bankman, SBF, Gary Wang, Adam Yedidia, Wang, FTX, Sun Organizations: Bahamian, Stanford, Alameda Research, Prosecutors, Bankman, Bahamas Securities Commission, Securities Commission, The Locations: Manhattan, FTX, Alameda, Bahamian, The Bahamas, United States

☆ Sam Bankman-Fried's defense team fails to land a blow as he takes the stand
▼ + stars: | 2023-10-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Sam Bankman-Fried took the stand in a New York courtroom on Thursday, as he and his defense team auditioned their best legal material for U.S. District Judge Lewis Kaplan. Bankman-Fried, the son of two Stanford legal scholars, has pleaded not guilty in the case. Several of these witnesses have themselves pleaded guilty to multiple charges, including Bankman-Fried's ex-girlfriend Caroline Ellison, who faces a maximum sentence of 110 years for crimes committed while she was the CEO of Alameda. Given that the core issue will be intent to defraud, SBF should be portraying himself as clueless, inattentive, and in over his head. But for years he had portrayed himself as a visionary genius, and I don't expect that to change on the stand," he said.

Persons: Sam Bankman, Fried, District Judge Lewis Kaplan, Fried's, Mark Cohen, Dan Friedberg, SBF, Renato Mariotti, Bryan Cave Leighton, Caroline Ellison Organizations: U.S, District, Stanford, U.S . Justice Department's Securities, Commodities, Alameda Research, Prosecutors Locations: New York, Manhattan, Chicago, Alameda

☆ Sam Bankman-Fried's ex-friends and top lieutenants all demolished his criminal defense from the witness stand
▼ + stars: | 2023-10-21 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

Sam Bankman-Fried's defense attorneys have argued that FTX's collapse is complicated and he didn't know everything. AdvertisementAdvertisementDuring opening statements at Sam Bankman-Fried's trial, it quickly became clear that prosecutors and his defense attorneys had very different approaches. But Bankman-Fried's attorneys may convince jurors that Bankman-Fried genuinely believed his actions were acceptable in the wild-west cryptocurrency industry. The challenge for Bankman-Fried's attorneys is to convince jurors that he didn't know about any wrongdoing. "Sam directed me to," Ellison testified.

Persons: Sam Bankman, They've, —, — Caroline Ellison, Gary Wang, Nishad Singh —, Thane Rehn, Rehn, Mark Cohen, Ellison, Cohen, FTX, Crypto, it's, Sam Bankman Fried, Craig Ruttle, Sarah Krissoff, Cozen O'Connor, Fried, Krissoff, Singh, Wang, Paul Tuchmann, Wiggin, Dana, Sam, Caroline Ellison, Eduardo Munoz Alvarez, Gary, Sun, He's Organizations: Service, Prosecutors, Alameda Research, Alameda Locations: Manhattan, Washington, Bankman, Alameda, New York, FTX, Bahamas

☆ Read the secret Signal messages that could help put Sam Bankman-Fried behind bars
▼ + stars: | 2023-10-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Sam Bankman-Fried appears at federal court in New York on Oct. 4, 2023, in this courtroom sketch. Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried. In a direct appeal to Bankman-Fried, Singh wrote on Nov. 6, 2022, "one thing that'd seriously help me is if I didn't have debts." Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried. Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried.

Persons: Sam Bankman, Fried, Claudia Johnson, Caroline Ellison, Gary Wang, Nishad Singh, Ryan Salame, Damian Williams, Yuki Iwamura, Ellison, Bankman, Joe Bankman, Ramnik Arora, Ryne Miller, Constance Wang, Singh, Wang, reassurances, FTX, Changpeng Zhao, he'd, Um, Sam, Binance, Zhao, it's, Sam Trabucco, Ben Xie, Michael Lewis, Lewis, Adam Yedidia, Yedidia, chares, SDNY Singh, Gabe, Salame, Michael Sadowsky, Sadowsky, FTX's, Dawn Giel Organizations: Alameda Research, Stanford, Bloomberg, Getty, Massachusetts Institute of Technology, alameda, Prime Trust Bank Locations: New York, Alameda, Manhattan, U.S, FTX, Sequoia, Alameda's, Bahamas

☆ Will Sam Bankman-Fried take the witness stand? It would be dangerous — but he has little to lose.
▼ + stars: | 2023-10-19 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried needs to decide soon whether he'll take the witness stand in his criminal trial. AdvertisementAdvertisementCaroline Ellison testified in the trial of her ex-boyfriend, Sam Bankman-Fried JANE ROSENBERGFor that reason, the case against Bankman-Fried rests on the credibility of his alleged co-conspirators. In their own questioning of the cooperating witnesses, prosecutors have encouraged them to be open about taking responsibility for their crimes. Court sketch of Sam Bankman-Fried on the first day of his trial JANE ROSENBERG/ReutersIf Bankman-Fried takes the stand, he'll be cross-examined by prosecutors. If Bankman-Fried takes the stand, prosecutors will almost certainly point to more material and catch him in any contradictions.

Persons: Sam Bankman, he'll, he's, —, They're, Fried, Mark Cohen, Lewis Kaplan, who's, Cohen, He's, Caroline Ellison, Gary Wang, Nashad Singh, Sarah Krissoff, Cozen O'Connor, FTX, Mary Altaffer, Kaplan, Paul Tuchmann, Wiggin, Dana, Tuchmann, Adam Yedidia, Fried JANE ROSENBERG, Ellison, Wang, Singh, Bankman, Wang forthrightly, Ellison teared, slovenliness, Prosecutors —, Krissoff, JANE ROSENBERG, hedged, didn't, Judge Kaplan's, SBF Organizations: Service, Defense, US, Alameda Research, Former Alameda Research, AP, Prosecutors, Toyota Corolla, Reuters, ABC News, Alameda . Locations: Manhattan, Alameda, New York, FTX

☆ Sam Bankman-Fried's lawyers say he needs more Adderall to concentrate in court
▼ + stars: | 2023-10-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

SBF's lawyers are petitioning the court to grant him access to more Adderall during his trial. AdvertisementAdvertisementSam Bankman-Fried's lawyers say the embattled FTX founder needs more Adderall so he can concentrate during his ongoing criminal trial. The lawyers wrote that Bankman-Fried had only been given a dose of Adderall in the early mornings before he arrived at court for his criminal trial. Bankman-Fried's legal team proposed in the letter that their client be given an extended-release dose of Adderall before he is taken to court on Monday. The criminal trial against the disgraced crypto entrepreneur began on October 3.

Persons: wouldn't, —, Sam Bankman, Fried, Lewis Kaplan, Kaplan, Mark Cohen, Bankman Organizations: Service, The New Yorker, Bankman, Metropolitan Detention, Prosecutors, Alameda Research Locations: Brooklyn, Alameda

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCaroline Ellison details SBF's involvement in running Alameda Research: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Daniel Silva, former federal prosecutor and shareholder at Buchalter Law Firm, discusses the latest in the trial of Sam Bankman-Fried.

Persons: Caroline Ellison, explainers, Daniel Silva, Sam Bankman Organizations: Alameda Research, CNBC Crypto, CNBC, Buchalter Law Locations: Alameda

☆ EXCLUSIVE: Listen to 1-hour all-hands Alameda Research meeting where Caroline Ellison admitted the crypto firm took FTX customer money
▼ + stars: | 2023-10-12 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +6 min

Caroline Ellison held an all-hands meeting with Alameda employees where she admitted to taking FTX customer funds. The news sent shockwaves through the office of Alameda Research, the crypto trading firm also owned by Sam Bankman-Fried. AdvertisementAdvertisementAt the all-hands meeting, Ellison appeared "sunken, kind of slouching," and "did not display confident body language," Drappi said. At the meeting, Drappi asked Ellison whether she was aware that Alameda was taking customer money without their permission. Bankman-Fried's lawyers argued Thursday that Ellison's statements at the meeting went far beyond what Bankman-Fried intended to tell Alameda employees.

Persons: Caroline Ellison, Sam Bankman, —, Fried, Binance, Ellison, Christian Drappi, Drappi, Rick Best, — Ellison, Gary Wang, Nashad Singh, Wang, Singh, FTX Organizations: Alameda, Service, Alameda Research Locations: Alameda, Hong Kong, Japan, YOLO

☆ SBF's lawyers shouldn't be allowed to use his $500 million investment in AI firm Anthropic — which could used to pay back FTX customers — as evidence, prosecutors say
▼ + stars: | 2023-10-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Anthropic looks set to be valued at $30 billion as it is in talks with Google for further investment. Prosecutors argue that the investment can't be used as evidence in Bankman-Fried's favor. AdvertisementAdvertisementProsecutors have asked the judge overseeing Sam Bankman-Fried's trial to stop the FTX founder's lawyers from referencing his $500 million investment in Anthropic. AdvertisementAdvertisementThat means Bankman-Fried's investment could be a major help in reimbursing the thousands of FTX customers who lost their money as the crypto exchange imploded last November. AdvertisementAdvertisementMichael Lewis, who interviewed Bankman-Fried more than 100 times for his biography, wrote that other FTX executives didn't approve of the Anthropic investment.

Persons: FTX, —, Sam Bankman, Lewis Kaplan, Damian Williams, Anthropic, Williams, Fried, Gary Wang, Michael Lewis, Bankman, didn't, Ramnik Arora, Lewis, Sam Organizations: Google, Prosecutors, Service, Amazon Locations: Anthropic, Bankman, Alameda

☆ Sex, Signal messages and sabotage: SBF's top execs and Bahamas roommates tell all in court
▼ + stars: | 2023-10-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +13 min

"Sam Bankman-Fried," he said. Wang said that in response to the reporting an emergency meeting was called between Bankman-Fried, Wang and Singh, to discuss shutting down Alameda. On Nov. 12, after FTX declared bankruptcy, Bankman-Fried asked Wang to drive with him to the Bahamas Securities Commission for a meeting. Yedidia said Bankman-Fried had told him, before he began working in the Bahamas in 2019, that he and Ellison had sex. Bankman-Fried asked Yedidia if it was a good idea for them to date, to which Yedidia said no.

Persons: Adam Yedidia, Sam Bankman, Jane Rosenberg, —, Gary Wang, Nicolas Roos, Wang, FTX, Nishad Singh, Caroline Ellison, Mr, Roos, Ellison, Fried, Reuters Wang, District Judge Lewis Kaplan, Singh, Yedidia, Bankman, Sam, Christian Everdell, he's, I'm, Matt Huang, Yuki Iwamura, Huang, Dawn Giel Organizations: Federal Court, Reuters, MIT, U.S, Alameda Research, District, Prosecutors, Bahamas Securities Commission, Massachusetts Institute of Technology, Google, Alameda, United, Paradigm, FTX, Bloomberg, Getty Locations: FTX, New York City, Bahamas, Manhattan, U.S, Alameda, Bahamian, New York, China, Minnesota, FTX's Hong Kong, Nassau, Bankman

☆ Former federal prosecutor lays out SBF's possible defense strategies
▼ + stars: | 2023-10-06 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer federal prosecutor lays out SBF's possible defense strategiesIn a wide-ranging interview, Paul Tuchmann, a former federal prosecutor and current partner with Wiggin and Dana, sat down with CNBC Crypto World to provide legal insight into the trial of Sam Bankman-Fried, including the charges and procedures involved. He also discusses possible defense strategies.

Persons: Paul Tuchmann, Wiggin, Dana, Sam Bankman Organizations: Former, CNBC

☆ A pair of Bahamian private jets said to be funded by a 'handshake deal' with Sam Bankman-Fried are set to be confiscated by the US government
▼ + stars: | 2023-10-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Prosecutors said Wednesday that two private jets linked to Sam Bankman-Fried are subject to forfeiture. FTX loaned a Bahamian jet charter company $28.4 million to buy the planes, Insider reported. AdvertisementAdvertisementTwo private jets linked to Sam Bankman-Fried are set to be confiscated by the US government, according to a forfeiture bill filed Wednesday. The court filing says he tried to sell the Global to help repay the loan, before the US Marshals Service seized it in February. Bankman-Fried, nor any other FTX executives, ever flew on the Global or Embraer, a person familiar with the situation previously told Insider.

Persons: Sam Bankman, FTX, —, Damian Williams, Paul Aranha, Fried, Aranha, SBF's Organizations: Service, Bombardier Global, Embraer, EMB, Capital, IAC, Air Capital, Trans Island Airways, Global, US Marshals Service, Cessna Locations: Bahamian, Delaware, FTX, Florida, Bahamas

☆ Sam Bankman-Fried isn't the only one on trial. The entire crypto industry is.
▼ + stars: | 2023-10-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

But first, we're looking at why FTX cofounder and ex-CEO Sam Bankman-Fried's criminal trial has implications that could upend the entire crypto industry. Bankman-Fried, the cofounder and ex-CEO of crypto exchange FTX, was deeply enmeshed in the crypto ecosystem. The proceedings will likely provide more fascinating details about the inner workings of FTX and the broader crypto industry, potentially airing out its dirty laundry and shortcomings. Chelsea Jia FengThe crypto industry, meanwhile, is ready to move on. Some in the crypto industry are embracing a more grown-up approach.

Persons: —, Sam Bankman, Donald Trump's, JANE ROSENBERG, Tom Brady, Kevin O'Leary, Michael Lewis, Katie Balevic, Jacob Shamsian, Grace Kay, Mark Cohen, Caroline Ellison, Chelsea Jia Feng, they'll, Spencer Platt, what's, Michael M, Arvind Krishna, Rahul Pandey's, Seth Wenig, AP Trump, scowled, Donald Trump, Tyler Le, Dianne Feinstein's, Kamala Harris, Sen, Chuck Schumer, Marc Anthony, Sofia Reyes, Pluma, Bad, Wells, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan, Annie Smith, Shona Ghosh, Jack Sommers, Spriha Srivastava Organizations: Service, Tech, Chelsea, Financial, Fidelity, PayPal, Visa, Getty, Treasury, Wall, Nvidia, IBM's, Meta, AP, IRS, trailblazing, Grupo Frontera, NBA, Dallas Mavericks, Minnesota Timberwolves, Etihad Arena, The Dallas Mavericks, Etihad, Corporation National Media Locations: crypto's, Plenty, trailblazing California, Abu Dhabi, New York City, San Diego, London, New York

Search resuls for: "SBF's"

25 mentions found