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REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 3 (Reuters) - Former FTX chief operating officer Constance Wang agreed to serve as a witness for U.S. prosecutors in their case against the crypto exchange's founder and former CEO Sam Bankman-Fried, according to Michael Lewis' new book on FTX's collapse. "Going Infinite: The Rise and Fall of a New Tycoon" hit the shelves as Bankman-Fried's criminal trial began in Manhattan on Tuesday. While the U.S. prosecutors have said they plan to call a handful of Bankman-Fried's former inner circle to testify, Wang has not been named among them. Wang joined FTX in 2019 from rival crypto exchange Huobi as its eighth employee, and often accompanied Bankman-Fried to meetings in which Mandarin was spoken, Lewis said. Prosecutors have said they plan to call former Alameda chief executive Caroline Ellison, former FTX technology chief Gary Wang, and former engineering chief Nishad Singh to testify.

Persons: Sam Bankman, Andrew Kelly, Constance Wang, Michael Lewis, FTX, Fried, Wang, Lewis, Caroline Ellison, Gary Wang, Nishad Singh, Hannah Lang, Luc Cohen, Michelle Price, Matthew Lewis Organizations: FTX, Manhattan, REUTERS, Alameda Research, U.S, Prosecutors, Alameda, Thomson Locations: New York City, U.S, Manhattan, Bahamas, Caribbean, Washington, New York

On day one of Sam Bankman-Fried's criminal trial, assistant U.S. attorney, Danielle Sassoon, rattled off a lengthy list of potential witnesses who might be called to testify for either the government or the defense. The list, which was compiled jointly by both sides, was released during the afternoon session and included Bankman-Fried's brother, Gabe, as well his parents, Allan Joseph Bankman and his wife, Barbara Fried. Parents of the disgraced former CEO of FTX are themselves the subject of new scrutiny. Other entities that may take the witness stand included various venture funds and crypto-focused companies like Genesis, Lightspeed Venture Partners, Ontario Teachers Pension Fund, Third Point, Signature Bank, and Voyager Digital. Many of these businesses were hurt or wiped out by the collapse in cryptocurrency prices triggered in part by FTX's implosion.

Persons: Sam Bankman, Danielle Sassoon, Gabe, Allan Joseph Bankman, Barbara Fried, Ellison, FTX, Wang, Anthony Scaramucci, Fried Alfred Lin, Sequoia Capital Zac Prince, Michael Lewis Organizations: Alameda Research, U.S, SkyBridge, Sequoia Capital, Lightspeed Venture Partners, Ontario, Pension Fund, Signature Bank, Voyager Locations: Bankman, Manhattan

☆ The 6 wildest details about Sam Bankman-Fried that Michael Lewis revealed in a tell-all interview
▼ + stars: | 2023-10-03 | by ( Grace Kay | ) www.businessinsider.com time to read: +9 min

Michael Lewis gave a peek into details from his new book on Sam Bankman-Fried in a tell-all interview. AdvertisementAdvertisement"The Big Short" author Michael Lewis shared some of the wildest details from his forthcoming book on disgraced FTX cofounder Sam Bankman-Fried during a tell-all interview with "60 Minutes" on Sunday. Tom Brady and Sam Bankman-Fried had an unlikely friendship, according to Michael Lewis. Sam Bankman-Fried, a known "League of Legends" fan, played a video game during his first live TV interview, Michael Lewis said. Sam Bankman-Fried.

Persons: Michael Lewis, Sam Bankman, Lewis, SBF, Tom Brady, Donald Trump, —, Bankman, Sam, Erin Schaff, Insider's Lloyd Lee, Fried, Trump, Brady, Sebastian Widmann, Sam wasn't, FTX, he's, Larry David, Steph Curry's, Steph Curry, Anna Wintour, Matt Winkelmeyer, Vogue's Anna Wintour, Wintour, Spokespeople, David, Curry, Michael M, Bernie Madoff, Elizabeth Holmes, Jim Spellman, WireImage Lewis Organizations: Service, Trump, NFL, Super, Miami, Sequoia Capital, Metropolitan Detention, Prosecutors, Alameda Research, Bankman Locations: New York, Trump, Hollywood, America, Bahamas, Brooklyn

☆ Explainer: What charges does Sam Bankman-Fried face over FTX's collapse?
▼ + stars: | 2023-10-03 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Indicted FTX founder Sam Bankman-Fried arrives at the United States Courthouse in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried is set to go on trial on Tuesday on fraud and conspiracy charges related to the collapse of FTX, the now-bankrupt cryptocurrency exchange he founded and led. He faces one count of wire fraud, two counts of conspiracy to commit fraud, and one count of money laundering conspiracy over the alleged theft of customer funds. Bankman-Fried faces one wire fraud count and two conspiracy counts over the alleged misrepresentations to investors and lenders. Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Fried, Amr Alfiky, Caroline Ellison, Ellison, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: United, REUTERS, Alameda Research, Alameda, Prosecutors, Thomson Locations: New York City, U.S, FTX, Bahamas, Alameda, New York

☆ What to Know About Sam Bankman-Fried’s Fraud Trial
▼ + stars: | 2023-10-03 | by ( David Yaffe-Bellany | More About David Yaffe-Bellany | ) www.nytimes.com time to read: +2 min

Mr. Bankman-Fried oversaw two core businesses: FTX and a hedge fund called Alameda Research. Alameda was, at least in theory, simply a large customer of FTX that used the platform to trade digital currencies. But according to prosecutors, Mr. Bankman-Fried allowed Alameda to borrow a virtually limitless amount from FTX and then funneled much of that money into other projects. For example, regulators say, Alameda used customer funds to make large loans to FTX executives, who spent the money on political donations. Mr. Bankman-Fried faces an uphill battle in court.

Persons: Fried, FTX, —, Caroline Ellison, Nishad Singh, Gary Wang —, Ryan Salame, Lewis A, Kaplan, Judge Kaplan Organizations: Alameda Research, Alameda Locations: FTX, United States, Alameda, Fried, Brooklyn

☆ FTX cofounder Gary Wang is set to testify against his childhood friend Sam Bankman-Fried. Here's what we know.
▼ + stars: | 2023-10-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

FTX cofounder Gary Wang was a critical player during the rise and fall of SBF's crypto empire . AdvertisementAdvertisementWhen Bankman-Fried cofounded Alameda Research in 2017, Wang reportedly left his role at Google. The tight group of executives reportedly included Wang, Bankman-Fried, Caroline Ellison, who was formerly Alameda's CEO, and Nishad Singh, FTX's former director of engineering. But at FTX, Wang was a somewhat reclusive figure, per reports. "All of the sudden that snapped into he was leaving that day, back to the US and implicitly mostly stopped working," Bankman-Fried told the news outlet.

Persons: Gary Wang, Wang, Sam Bankman, —, Bankman, MIT Wang, Wang's, Cherry Hill, Hector, Fried, Caroline Ellison, Nishad Singh, FTX's, Nishad, Gary, Singh, FTX, Ellison, Damian Williams, Ilan Graff, Sundar Organizations: Service, MIT, Bloomberg, Eastside, Epsilon Theta, Google, Forbes, Alameda Research, Court, District of, Sydney Morning Herald, Street Journal, Southern, of New York, Securities and Exchange Commission Locations: Oregon, Cherry Hill, New Jersey, China, Bahamas, Alameda, District of Delaware, FTX

☆ The $8 billion Sam Bankman-Fried criminal trial starts today — here's what's at stake and how we got here
▼ + stars: | 2023-10-03 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

In the first trial, Bankman-Fried faces seven criminal counts related to the collapse of the crypto empire he built, including wire fraud, securities fraud and money laundering. Alameda, FTX and a host of subsidiaries Bankman-Fried founded filed for bankruptcy protection in Delaware. FTX's own terms of use specifically forbade him, or Alameda, from using customer money for anything — unless the customer allowed it. And from FTX's inception, there was a lot of customer money. Bankman-Fried and other executives admitted to each other that "FTX customer funds were irrevocably lost because Alameda had appropriated them."

Persons: Sam Bankman, Fried, Caroline Ellison, Gary Wang, Ellison, FTX, Wang, Judge Lewis Kaplan, Samuel Bankman, MacKenzie Sigalos, San Francisco —, SBF, Wang —, Nishad Singh —, Goldman Sachs, Binance, Damian Williams, Rehypothecation, —, Crypto, Solana, Zhao, he'd, Cromwell, John J, Ray, John Ray's, — CNBC's Rohan Goswami Organizations: Alameda Research, Southern, of, Stanford, MIT, U.S, New York Times, Bankman, That's, CNBC, Jane, Capital, University of California, Formula, Democratic, Twitter, Securities Exchange Commission, SEC, Futures Trading, United States Attorney's Office, CFTC, Alameda, Alameda didn't, Voyager, BlockFi, FTX, Industry, Investors, Zhao, Publicly, Sullivan, Enron Locations: Bahamas, Manhattan, New York, Alameda, of New York, FTX, Brooklyn , New York, San Francisco, South Korea, Alameda , California, Fried's Alameda, Berkeley, Miami, Washington, Delaware, California, Federal, Solana, Fried

Sam Bankman-Fried wasn't offered any plea deals in fraud trial, prosecutors said. The criminal trial against Bankman-Fried kicked off on Tuesday with jury selection. The trial addresses the historic collapse of crypto exchange platform FTX. AdvertisementAdvertisementThe US government confirmed on Tuesday that Sam Bankman-Fried hadn't been offered any plea deals in the criminal case. AdvertisementAdvertisementThe criminal trial will address the historic collapse of the crypto exchange platform FTX.

Persons: Sam Bankman, Fried wasn't, Fried, —, hadn't, Caroline Ellison, Gary Wang Organizations: Bankman, Service, US Department of Justice, Alameda Research, Prosecutors

☆ A fresh haircut and ready for court: Day one of Sam Bankman-Fried's criminal trial
▼ + stars: | 2023-10-03 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Journalists stood alongside dozens of New York residents clutching jury summonses as they queued in two different security lines. The day started slowly, as the jury selection process didn't get going until nearly 11 A.M. with a break for lunch before 12:30 P.M. Kaplan told Bankman-Fried to rise in court in order to indicate his desire to take the stand in his own defense. The first step in the six-week trial is assembling a 12-person jury, plus a few alternates. District Judge Kaplan instructed the court that he would be asking all of the questions, though the list had been drafted with feedback from lawyers on both sides.

Persons: Sam Bankman, Fried, he's, FTX, District Judge Lewis Kaplan, Lewis Kaplan —, Kaplan, —, Bankman, Caroline Ellison, Gary Wang, Ellison, Wang, Judge Kaplan, Joe Rogan, Dawn Giel Organizations: District, Federal Court, Southern, of, MIT, Alameda Research, U.S, Insight Partners Locations: New York, Brooklyn, FTX, New York City, U.S, York, Manhattan, Alameda, Maui

☆ Sam Bankman-Fried trial: Potential juror dismissed after saying he can't be unbiased given 'everything negative' he heard about crypto
▼ + stars: | 2023-10-03 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +3 min

One prospective juror said he couldn't be objective given "everything negative" he's heard of crypto. AdvertisementAdvertisementCryptocurrency itself isn't on trial, but strong feelings about the virtual currency may be shaping Sam Bankman-Fried's criminal trial. He told prospective jurors earlier in the day that he expected to conclude the selection process by Wednesday morning, before opening statements. AdvertisementAdvertisementFamiliarity with cryptocurrency, the dramatic collapse of FTX, or Bankman-Fried's case specifically isn't necessarily disqualifying to be a juror. One prospective juror said she would have a problem rendering a guilty verdict if Bankman-Fried faced the death penalty.

Persons: Sam Bankman, He's, he's, —, I'm, Lewis Kaplan, cryptocurrency, Kaplan, Bankman, Fried, — Kaplan, they'd, Kaplan didn't Organizations: Service, US, Prosecutors, Alameda Research, Insight Partners Locations: Manhattan, FTX, Alameda

☆ Anna Wintour's furious staff said Sam Bankman-Fried would 'never step foot in fashion again' after he snubbed her Met Gala invite
▼ + stars: | 2023-10-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Anna Wintour invited Sam Bankman-Fried to the Met Gala during a Zoom meeting on Valentine's Day 2022. Wintour's team were furious when he ultimately snubbed the invite, per Michael Lewis' new book about FTX. After the meeting Bankman-Fried thought: "'I would have to think hard if this is a thing I want to go to,'" per the excerpt. Bankman-Fried ultimately decided not to go, but it was FTX's former head of public relations, Natalie Tien, who had to deal with the fallout with Wintour's team. AdvertisementAdvertisementLewis wrote: "Natalie was prepared for Anna Wintour's people to be disappointed when she told them that Sam wouldn't be there.

Persons: Anna Wintour, Sam Bankman, Fried, Michael Lewis, —, Anna Wintour's, FTX's, Wintour, didn't, Lewis, Louis Vuitton, Tom Ford, Natalie Tien, Natalie, Sam wouldn't, Sam, FTX Organizations: Valentine's, Service, Beverly Hilton, CBS, Alameda Research Locations: Los Angeles, America, Alameda

☆ Sam Bankman-Fried made Caroline Ellison a pros and cons list for a sexual relationship with him. One con was 'In a lot of ways I don't really have a soul.'
▼ + stars: | 2023-10-03 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Sam Bankman-Fried sent Caroline Ellison a pros and cons list on their romantic relationship. The list had more cons than pros, one of which was his lack of empathy, according to a new book. "In a lot of ways I don't really have a soul," Bankman-Fried wrote in the memo, according to Lewis. In the message, she listed some of her hang-ups with Bankman-Fried, including "confusing signals, e.g. AdvertisementAdvertisementDespite the risks noted in Bankman-Fried's pros and cons list, Ellison continued to pursue a relationship, Lewis said.

Persons: Sam Bankman, Fried, Caroline Ellison, Ellison, —, Michael Lewis, Lewis, — Ellison, Caroline, Sam, Bankman Organizations: Service, Alameda Research, Bankman, Prosecutors, The New York Times Locations: Bankman, FTX

☆ Sam Bankman-Fried’s trial has started. Here’s what you need to know
▼ + stars: | 2023-10-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —The trial of Sam Bankman-Fried, a onetime crypto billionaire who stands accused of orchestrating a multibillion-dollar fraud, kicked off Tuesday in federal court in Manhattan. Here are the key things to know about the case, and what we might see over the next several weeks at the trial. Prosecutors opted in June to sever five other charges that were brought after Bankman-Fried’s extradition from the Bahamas, where FTX was based. Sam Bankman-Fried leaving the Bahamas on December 21, 2022, being extradited to the US to face charges. He was arrested in December in the Bahamas on charges including fraud and conspiracy and extradited to the United States in January.

Persons: Sam Bankman, Judge Lewis Kaplan, ”, “, ” Kaplan, SFB, SBF, Caroline Ellison, Bernie Madoff, FTX, Tom Brady, Larry David, Fried, Bankman, Ellison, Howard Fischer, Moses Singer, Fischer, Lewis Kaplan, he’s Organizations: New, New York CNN, Prosecutors, Alameda Research, Super, Royal Bahamas Police Force, Investors, Bankman, Coindesk, Alameda, New York Times, Securities and Exchange, Enron, Metropolitan Detention Locations: New York, Manhattan, FTX, Bahamas, Miami, Alameda, United States, Brooklyn

☆ Sam Bankman-Fried case: The FTX criminal fraud trial begins today. Here's everything you need to know.
▼ + stars: | 2023-10-03 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +13 min

Sam Bankman-Fried's criminal fraud trial begins in federal court today. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."

Persons: Sam Bankman, SBF, —, FTX, Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, Larry David, Kevin O'Leary, Caroline Ellison, He's, Michael Lewis, guarantors, Lewis Kaplan, Jane Rosenberg, Kaplan, Bankman, Ellison, messaged, Eduardo Munoz, Mark S, Cohen, Christian Everdell, Ghislaine Maxwell, Maxwell, They're, Danielle Sassoon, Nicholas Roos, who's, Joe Lewis, Jean Carroll, Donald Trump, Trump, Bill Clinton, Gambino, Prince Andrew, Mary Altaffer, SBF's, Joseph Bankman, Barbara Fried, Gary Wang —, Nishad Singh, Ryan Salame, Cohen wearily, there's Organizations: Prosecutors, Service, Alameda Research, Miami Heat's, The New York Times, Metropolitan Detention, US, Office, Southern, Bankman, Manhattan Federal Court, REUTERS, Washington , D.C, Supreme, AP, Securities, Exchange Commission, Stanford University Locations: FTX, Manhattan, America, Palo Alto , California, New York, Bahamas, Washington ,, Joaquín, Bankman, Guantanamo, Alameda

Companies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's fraud trial got under way with jury selection on Tuesday, nearly a year after his now-bankrupt cryptocurrency exchange's collapse shocked markets and tattered his reputation. He was dressed in a suit and tie, with his once signature curly, unkempt hair cut into a neater trim. Bankman-Fried's is the highest profile case U.S. prosecutors have so far brought against a former cryptocurrency executive. Prosecutors say Bankman-Fried built that reputation on lies and bolstered it with endorsements from celebrities and star athletes. He will be brought to court early on most days to allow him to prepare with his lawyers.

Persons: Sam Bankman, District Judge Lewis Kaplan, Kaplan, Bankman, Fried, Nicolas Roos, Mark Cohen, Caroline Ellison, Gary Wang, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: District, Alameda Research, Manhattan U.S, Prosecutors, Thomson Locations: Manhattan, FTX, Alameda, New York

REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsOct 3 (Reuters) - Sam Bankman-Fried's fraud trial, which is set to kick off on Tuesday, marks the culmination of a yearlong legal saga stemming from the dramatic collapse of the FTX cryptocurrency exchange he founded. Below is a timeline of key events leading up to the 31-year-old former billionaire's trial. MAY 2019Bankman-Fried and former Google employee Gary Wang found FTX as a new platform to trade crypto tokens and derivatives. Alameda gives crypto lender Voyager Digital a $200 million credit facility, and FTX gives lender BlockFi a $250 million loan. In a post-arrest blog post, Bankman-Fried denies stealing funds and blames FTX's collapse on a broader downturn in crypto markets.

Persons: Sam Bankman, Eduardo Munoz, Gary Wang, Larry David, Fried, CoinDesk, Binance, FTX, Changpeng Zhao, David, Tom Brady, Wang, Caroline Ellison, District Judge Lewis Kaplan, Nishad Singh, Kaplan revokes, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: REUTERS, Massachusetts Institute of Technology, Jane Street Capital, Alameda Research, Google, Forbes, Alameda, NFL, DEC, U.S, District, New York Times, Metropolitan Detention Center, Thomson Locations: New York, U.S, Alameda, Bahamas, Manhattan, United States, Palo Alto , California

☆ Anna Wintour wanted Sam Bankman-Fried to sponsor the Met Gala, but he had no idea who she was, FTX book author says
▼ + stars: | 2023-10-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Anna Wintour once sought Sam Bankman-Fried's sponsorship for the Met Gala, says Michael Lewis. But the author told "60 Minutes" that Bankman-Fried had no idea who Wintour was. AdvertisementAdvertisementVogue's Anna Wintour wanted to secure Sam Bankman-Fried's sponsorship for the Met Gala, but Bankman-Fried didn't know who she was, according to the author of an upcoming book on FTX. And he says, "There's this person named Anna Wintour,'" Lewis told "60 Minutes" correspondent Jon Wertheim. Lewis told "60 Minutes" that on this particular occasion, he "sat off to one side," where Wintour couldn't see him on the call.

Persons: Anna Wintour, Sam Bankman, Michael Lewis, Fried, Wintour, Lewis, —, Jon Wertheim, Wintour couldn't, Bankman, FTX Organizations: Service, New York's Metropolitan Museum of Art, Court, District of Locations: America, Bankman, District of Delaware, Alameda

☆ Sam Bankman-Fried wanted to pay Donald Trump not to run for office. The price? $5 billion, says his biographer.
▼ + stars: | 2023-10-02 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried, the FTX founder, is in jail and faces several federal charges. He looked into whether he could pay Donald Trump not to run in 2024, Michael Lewis wrote. Michael Lewis reports that Sam Bankman-Fried considered paying Donald Trump not to run for president. Lewis said that Bankman-Fried never learned if the $5 billion number came directly from Trump. "Isn't Sam Bankman-Fried a liar who has been outed as a fraudster and someone that can't be trusted," Steven Cheung, Trump's spokesperson, wrote in a brief response to an inquiry from Insider.

Persons: Sam Bankman, Fried, Donald Trump, Michael Lewis, —, Lewis, Sam, Trump, WtGO1TPP4A, Jon Wertheim, Wertheim, Steven Cheung, FTX Organizations: Republicans, Service, Trump, Forbes, FTX's, Alameda Research Locations: Trump, Alameda, Brooklyn

☆ Tom Brady 'adored' Sam Bankman-Fried despite them being the 'class nerd and the quarterback,' says author Michael Lewis
▼ + stars: | 2023-10-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Tom Brady and Sam Bankman-Fried got along despite being polar opposites, says Michael Lewis. Lewis told "60 Minutes" that the pair were like "like the class nerd and the quarterback." AdvertisementAdvertisementFormer NFL quarterback Tom Brady "adored" Sam Bankman-Fried despite the two being polar opposites, says the author of an upcoming book on FTX. "And he really liked Tom Brady. "Like, even the nerds don't hang out with this nerd, he's such a nerd," Lewis said.

Persons: Tom Brady, Sam Bankman, Fried, Michael Lewis, Lewis, Brady, —, Jon Wertheim, Sam wasn't, he's, FTX Organizations: Service, Bankman, CBS, Forbes Locations: FTX, Alameda

Law Firms Michael R. Becker FollowNEW YORK, Oct 2 (Reuters) - Sam Bankman-Fried will likely defend himself at his fraud trial, due to begin on Tuesday, by arguing he did not think the use by his FTX cryptocurrency exchange of customer funds was improper and by challenging the credibility of those who say otherwise. He has long acknowledged failing to manage risk at FTX, but denied prosecutors' claims he stole billions of dollars in FTX customer deposits to plug Alameda's losses. In September court papers, Bankman-Fried's lawyers said he had a "good faith belief" that the manner in which FTX and Alameda handled customer funds was permissible. Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, U.S., August 11, 2023. Prosecutors are seeking to play jurors a recording of an Alameda meeting in which Ellison told colleagues that Bankman-Fried approved the use of customer funds.

Persons: Michael R, Becker, Sam Bankman, Fried, FTX, Alameda, Jordan Estes, Estes, Kramer Levin, Eduardo Munoz, District Judge Lewis Kaplan, Caroline Ellison, Gary Wang, Nishad Singh, Tim Howard, Freshfields, Ellison, Wang, Kaplan, Luc Cohen, Amy Stevens, Daniel Wallis Organizations: Alameda Research, New York Times, REUTERS, U.S, Attorney's, District, Alameda, Prosecutors, Thomson Locations: Brooklyn, Bankman, FTX, Alameda, New York, U.S, Manhattan

☆ Sam Bankman-Fried would readily choose a Brooklyn jail cell with internet access over a $39 million Bahamas penthouse that doesn't have Wi-Fi, author of FTX book says
▼ + stars: | 2023-10-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

For Sam Bankman-Fried, losing internet access is more frightening than jail, says Michael Lewis. Lewis told "60 Minutes" he thinks Bankman-Fried "could survive jail forever" if he had internet access. AdvertisementAdvertisementDisgraced FTX founder Sam Bankman-Fried is more afraid of losing access to the internet than getting locked up, according to the author of an upcoming book on FTX. Michael Lewis shared his views on Bankman-Fried during an interview on "60 Minutes," which aired on Sunday. Lewis told "60 Minutes" that Bankman-Fried's greatest fear about going to prison would be losing his internet access.

Persons: Sam Bankman, Michael Lewis, Lewis, —, Fried Organizations: Service, Metropolitan Detention, Bankman Locations: FTX, Bahamas, Brooklyn, Alameda

☆ Short seller Jim Chanos slams Michael Lewis' defense of FTX and compares the failed crypto exchange to Enron
▼ + stars: | 2023-10-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Jim Chanos called Michael Lewis' defense of FTX "nonsense" on Sunday. Lewis had told CBS's "60 Minutes" that the crypto exchange failed because of a bank run. AdvertisementAdvertisementJim Chanos has slammed Michael Lewis' defense of FTX, flatly dismissing the idea that the failed crypto exchange would have been fine without a wave of withdrawals. Lewis appeared on CBS's "60 Minutes" Sunday to discuss his upcoming book about Sam Bankman-Fried, "Going Infinite". AdvertisementAdvertisement"This is nonsense, as both FTX and Enron were both massively insolvent, not illiquid," the short seller added.

Persons: Jim Chanos, Michael Lewis, Lewis, CBS's, —, FTX, Sam Bankman, Chanos, CoinDesk, Fried, Donald Trump Organizations: Service, Enron, Alameda Research, New York City Locations: New York

NEW YORK (AP) — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. The trial of Bankman-Fried, the founder of the failed cryptocurrency brokerage FTX, will begin Tuesday with jury selection. Political Cartoons View All 1190 ImagesThe 31-year-old Bankman-Fried founded FTX in 2019, and it grew rapidly. Bankman-Fried is expected come face-to-face with his former lieutenants at FTX for the first time since its collapse. She has previously said in a statement through her lawyers that she knew funneling FTX customers' money into Alameda was wrong.

Persons: Sam Bankman, Fried, Bernie Madoff, ”, Michael Zweiback, Zweiback, Zalduendo, FTX, SBF ”, J.P, Morgan, Tiger Woods, Justin Timberlake, Bankman, John Ray III, Caroline Ellison, Gary Wang, Ryan Salame, Salame, Ellison, funneling, Christine Adams, Adams, Andrew Ross Sorkin, Judge Lewis A, Kaplan, Changpeng Zhao, Larry Neumeister Organizations: Southern, of, Republicans, “ Prosecutors, Zalduendo LLP, Stanford University, Alameda Research, Alameda, Enron, FTX, Bankman, Prosecutors, The New York Times, NFTs, Securities and Exchange Commission, Binance, SEC Locations: Morgan, of New York, Washington, cryptocurrencies, Silicon Valley, FTX, The Bahamas, Albany, Alameda, Bahamas, New York, Palo Alto , California

☆ Sam Bankman-Fried was playing a video game while being interviewed on live TV for the first time, author of FTX book says
▼ + stars: | 2023-10-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried reportedly played a video game the first time he was interviewed on live TV. Author Michael Lewis said a clip showed SBF's eyes moving as he tried to win the game while on air. AdvertisementAdvertisementFTX cofounder Sam Bankman-Fried reportedly played a video game during his first appearance on live TV. It's because he's trying to win his video game at the same time he's on the air." AdvertisementAdvertisementThe incident is not the first time the former FTX CEO has been caught playing video games in professional settings.

Persons: Sam Bankman, Fried, Michael Lewis, —, Lewis, he's, Caroline Ellison, Gary Wang, Nishad Singh Organizations: Service, CBS, League, Sequoia, Bankman, Alameda Research, Justice Department Locations: Sequoia Capital, FTX

☆ Sam Bankman-Fried’s fraud trial is about to start. Here’s what you need to know
▼ + stars: | 2023-10-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

This week, he will stand trial in what federal prosecutors have called one of the biggest frauds in US history. The 31-year-old Bankman-Fried, known as SBF, has pleaded not guilty to seven counts of fraud and conspiracy in connection with the collapse of FTX, his crypto-trading platform. Here are the key things to know about the case, and what we might see over the next several weeks at the trial. SBF faces seven counts, including wire fraud and securities fraud. FTX founder Sam Bankman-Fried was a crypto celebrity until November last year, when his business empire collapsed.

Persons: Sam Bankman, Fried, SBF, FTX, Tom Brady, Larry David, Amr Alfiky, Bankman, Caroline Ellison, Ellison, “, ”, Howard Fischer, Moses Singer, Fischer, Lewis Kaplan, he’s Organizations: New, New York CNN, Prosecutors, Alameda Research, Super, Reuters, Investors, Bankman, Coindesk, Alameda, New York Times, Securities and Exchange, Enron, Metropolitan Detention Locations: New York, Bahamas, FTX, Miami, Alameda, United States, Manhattan, Brooklyn

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