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☆ Prosecutors urge judge to jail Sam Bankman-Fried, saying there are no conditions to stop him from witness tampering
▼ + stars: | 2023-07-28 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

CNN —Federal prosecutors urged a judge to revoke Sam Bankman-Fried’s bail to stop him from tampering with witnesses before his criminal fraud trial, saying there are likely no conditions that the cryptocurrency entrepreneur will abide by to satisfy their concerns. The additional arguments were made in a court filing Friday — following a hearing on Wednesday when prosecutors first asked the judge to detain the co-founder of FTX. “The defendant’s argument that the defendant did nothing other than exercise his First Amendment rights is a red herring. Witness tampering is not constitutionally protected speech,” prosecutors wrote. The charges against Bankman-Fried stem from what prosecutors have characterized as one of the biggest financial frauds in US history.

Persons: Sam Bankman, ”, Fried, Caroline Ellison, CNN’s Allison Morrow Organizations: CNN, Prosecutors, Bankman Locations: Bahamas

☆ Sam Bankman-Fried must be jailed, is intimidating witnesses, prosecutors say
▼ + stars: | 2023-07-28 | 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: +2 min

NEW YORK, July 28 (Reuters) - Sam Bankman-Fried must be jailed pending his October fraud trial over the collapse of the FTX cryptocurrency exchange he founded because he is trying to intimidate witnesses and influence their testimony, prosecutors said on Friday. Prosecutors first made their surprise request to detain Bankman-Fried before his Oct. 2 trial at a Wednesday hearing, where Kaplan barred Bankman-Fried from discussing the case. Prosecutors had in January accused Bankman-Fried of seeking to influence the testimony of an FTX lawyer. Ellison pleaded guilty to fraud charges and is expected to testify against Bankman-Fried at trial. Two former FTX executives, Gary Wang and Nishad Singh, have also pleaded guilty over FTX's collapse and agreed to cooperate with prosecutors.

Persons: Sam Bankman, Palo, Caroline Ellison's, District Judge Lewis Kaplan, Fried, Ellison, Bankman, Kaplan, Prosecutors, Gary Wang, Nishad Singh, Luc Cohen, Daniel Wallis Organizations: YORK, New York Times, Times, District, Alameda Research, Prosecutors, Bankman, Thomson Locations: Palo Alto , California, Bahamas, U.S, Manhattan, Alameda, New York

☆ Prosecutors drop another charge against FTX co-founder Sam Bankman-Fried
▼ + stars: | 2023-07-27 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Federal prosecutors dropped a campaign finance charge against Sam Bankman-Fried, the second time that they have narrowed the indictment against the founder of crypto exchange FTX . The U.S. Attorney's Office in Manhattan previously dropped another charge against him, for violating anti-bribery statutes, on the same grounds. The alleged scheme precipitated the collapse of Bankman-Fried's FTX and sent shockwaves throughout the crypto industry. Prosecutors had alleged that Bankman-Fried funneled hundreds of millions of dollars in bipartisan campaign financing through two unnamed co-conspirators to avoid campaign contribution limits. "Accordingly, in keeping with its treaty obligations to The Bahamas, the Government does not intend to proceed to trial on the campaign contributions count," prosecutors wrote.

Persons: Sam Bankman, Lewis Kaplan, Fried, FTX, Caroline Ellison, Gary Wang, Nishad Singh Organizations: Prosecutors, Attorney's, Kaplan, United, Government, Bankman Locations: Bahamas, U.S, Manhattan, United States

☆ Bankman-Fried campaign finance charge dropped, lessening trial's political focus
▼ + stars: | 2023-07-27 | 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

He got a modest victory on Wednesday night when prosecutors decided to drop a campaign finance charge claiming the former billionaire illegally directed associates to donate millions of dollars to political campaigns. Mark Kasten, a lawyer at Buchanan Ingersoll & Rooney in Philadelphia, said dropping the campaign finance charge could help Bankman-Fried by letting his lawyers "focus their narrative" on the fraud case. "Jurors have a visceral reaction to campaign finance charges: campaign finance charges are crimes on the public, and jurors themselves are indirect victims," he said. Ellison, the former chief executive of Bankman-Fried's crypto-focused hedge fund Alameda Research, pleaded guilty to fraud charges and is expected to testify against him. Nishad Singh, FTX's former director of engineering, pleaded guilty to fraud and campaign finance charges, saying he used transfers from Alameda to make political donations in part to bolster Bankman-Fried's and FTX's political influence.

Persons: Buchanan Ingersoll, Rooney, Sam Bankman, Caroline Ellison, FTX, Fried, Bankman, Mark Kasten, Ellison, Nishad Singh, FTX's, Gary Wang, Luc Cohen, Chris Reese Organizations: New York Times, U.S, Bankman, Alameda Research, Thomson Locations: Manhattan, Bahamas, Philadelphia, Alameda, New York

☆ US judge tightens Sam Bankman-Fried's bail, will consider jailing him
▼ + stars: | 2023-07-26 | 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: +2 min

[1/2] Indicted FTX founder Sam Bankman-Fried walks outside at the United States Courthouse in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky/File PhotoNEW YORK, July 26 (Reuters) - A U.S. judge on Wednesday tightened Sam Bankman-Fried's bail conditions, restricting his ability to communicate publicly, and will consider jailing him ahead of his trial over the collapse of his FTX cryptocurrency exchange. "I'm very mindful of the government's interest in this issue, which I take seriously," Kaplan said at a hearing in Manhattan federal court. Ellison, also Alameda's former chief executive, has pleaded guilty to fraud charges and agreed to cooperate with prosecutors. Reporting by Luc Cohen in New York; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Amr Alfiky, District Judge Lewis Kaplan, Fried, Caroline Ellison's, Kaplan, Mark Cohen, FTX, Ellison, Luc Cohen, Daniel Wallis Organizations: FTX, United, REUTERS, U.S, District, Alameda Research, Thomson Locations: New York City, U.S, Manhattan, Palo Alto , California, Bahamas, New York

New York CNN —A federal judge is set to consider a gag order on former FTX CEO Sam Bankman-Fried after prosecutors accused him of leaking his former girlfriend and business partner’s personal writings to the New York Times. US District Court Judge Lewis Kaplan was expected to rule on a so-called gag order that would prevent Bankman-Fried from discussing his case publicly. At a previous bail hearing, Kaplan alluded to the possibility of revoking Bankman-Fried’s bail deal and forcing him to await trial in jail. In February, Judge Kaplan tightened restrictions on Bankman-Fried’s bail after prosecutors flagged a direct message Bankman-Fried sent to a former FTX employee, raising concerns about potential witness-tampering. While his lawyers said they would comply with any gag order, they pushed back on prosecutors’ allegations of witness-tampering.

Persons: Sam Bankman, Fried, Prosecutors, Caroline Ellison, Lewis Kaplan, Kaplan, ”, Palo, Judge Kaplan, Ellison Organizations: New, New York CNN, New York Times, Bankman, Google, Alameda Research Locations: New York, Palo Alto , California, Alameda, FTX

☆ Sam Bankman-Fried could be headed to jail. Prosecutors say he tampered with a witness by sharing ex's diary entries — and want him locked up
▼ + stars: | 2023-07-26 | by ( Jacob Shamsian | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Prosecutors want to send Sam Bankman-Fried to jail over alleged witness tampering. Prosecutors asked a federal judge Wednesday to send Sam Bankman-Fried to jail after he leaked his ex-girlfriend's private Google Docs to the New York Times. Bankman-Fried's lawyers said his interaction with the journalist was just addressing his overwhelmingly negative press, but prosecutors say it was much more than that. Bankman-Fried sent more than 100 emails to journalists and made 1,000 calls to journalists, prosecutors say. He called the New York Times journalist who wrote the story based on the leak 100 times, they said.

Persons: Sam Bankman, Caroline Ellison's, Danielle Sassoon, Lewis Kaplan, Caroline Ellison, who'd, Ellison, Fried, FTX, Ms, Sassoon, Mark Cohen Organizations: Prosecutors, New York Times, US, Alameda Research, Google, Bankman Locations: Manhattan, York

☆ Steve Ballmer's $120 billion fortune makes him richer than Warren Buffett, Mark Zuckerberg, and Google's cofounders. The former Microsoft CEO can thank AI hype and a contract quirk.
▼ + stars: | 2023-07-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Steve Ballmer is richer than Warren Buffett, Mark Zuckerberg, Larry Page, and Sergey Brin. The former Microsoft CEO is worth $120 billion, thanks to his estimated 4% stake in the company. Page and Brin have added $28 billion and $26 billion to their respective fortunes in 2023, lifting their net worths to $111 billion and $106 billion. Ballmer's fortune has ballooned this year thanks to Microsoft stock climbing to historic highs. The former Microsoft chief trails Larry Ellison ($133 billion) and Bill Gates ($137 billion) by some distance in Bloomberg's wealth index.

Persons: Steve Ballmer, Warren Buffett, Mark Zuckerberg, Larry Page, Sergey Brin, Ballmer isn't, Sergey Brin —, didn't, Bill Gates, Jeff Bezos, Larry Ellison, Zuckerberg, Brin, Elon Musk, Bernard Arnault, Buffett, Ballmer's, Ballmer, Page, Brin haven't, he's Organizations: Microsoft, Service, Google, Bloomberg, Forbes, LA Clippers, Berkshire Hathaway, Gates Foundation, Meta Locations: Wall, Silicon, Berkshire

☆ Sam Bankman-Fried 'did nothing wrong' by leaking his ex-girlfriend's diary entries to New York Times: lawyers
▼ + stars: | 2023-07-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Sam Bankman-Fried's lawyers say his leak of Caroline Ellison's diary entries to the New York Times is OK. It's totally fine for Sam Bankman-Fried to give his ex-girlfriend's diary entries to a New York Times reporter, his lawyers said in a court filing. Prosecutors correctly surmised that the entries were provided to the Times by Bankman-Fried, who had access to the writings, which were kept on Google Docs. "But Mr. Bankman-Fried did nothing wrong." "The reporter contacted Mr. Bankman-Fried about a story he was working on concerning Ms. Ellison and asked Mr. Bankman-Fried if he wished to respond," they wrote.

Persons: Sam Bankman, Caroline Ellison's, Bankman, Caroline Ellison, Fried, Ellison, She's, Lewis Kaplan, who's, John Ray III, John Ray, Mr Organizations: New York Times, Morning, Bankman, Prosecutors, Times, Google, Alameda Research

July 23 (Reuters) - Lawyers for FTX founder Sam Bankman-Fried rejected prosecutors' claims that his discussions with a New York Times reporter amounted to witness tampering but agreed to accept a gag order, they said in a letter to the judge in the criminal fraud case. The letter, released on Sunday, came after prosecutors sought to bar Bankman-Fried and allies from making public statements that could interfere with the case. Cryptocurrency exchange FTX, once valued at $32 billion, filed for bankruptcy protection in November as it was unable to repay depositors. Ellison led Bankman-Fried's Alameda Research hedge fund and has pleaded guilty to defrauding investors and agreed to cooperate with prosecutors. In December, Bankman-Fried said he and Ellison had been in a relationship but gave no further details.

Persons: Sam Bankman, Fried, Caroline Ellison, Mark Cohen, Ellison, Mrinmay Dey, Christopher Cushing Organizations: New York Times, U.S ., Star, Alameda Research, Thomson Locations: Bankman, Alameda

☆ Sam Bankman-Fried Accused of Trying to Discredit FTX Witness Caroline Ellison
▼ + stars: | 2023-07-21 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

The prosecutors wrote to U.S. District Judge Lewis Kaplan on Thursday referencing a New York Times article titled "Inside the Private Writings of Caroline Ellison, Star Witness in the FTX Case". Ellison led Bankman-Fried's Alameda Research hedge fund and has pleaded guilty to defrauding investors and agreed to cooperate with prosecutors. In December, Bankman-Fried said he and Ellison had been in a relationship but gave no further details. Neither New York Times nor Ellison's lawyers responded to Reuters' requests for comment. The prosecutors argued that by sharing these documents, Bankman-Fried was trying to malign Ellison's credibility, and that such conduct could chill witnesses from testifying and taint the jury pool.

Persons: Sam Bankman, District Judge Lewis Kaplan, Caroline Ellison, Ellison, Fried, Prosecutors, Bankman, FTX, Shubham Kalia, Gokul, Jonathan Stempel, Sam Holmes Organizations: U.S, District, New York Times, Star, Alameda Research, FTX Trading, Thomson Locations: Bankman, Alameda, Bengaluru, New York

☆ Sam Bankman-Fried leaked Caroline Ellison's diary to the New York Times to paint her as a 'jilted lover,' prosecutors say
▼ + stars: | 2023-07-21 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Prosecutors say Sam Bankman-Fried is trying to discredit Caroline Ellison by leaking her diary entries. Bankman-Fried wants to make her look like a "jilted lover," prosecutors wrote in a court filing. Prosecutors say Bankman-Fried gave "a misleading patina of legitimacy" to an effort to discredit Ellison in the case. "The fact that the defendant funneled this material through the New York Times, rather than directly commenting on the documents himself, is particularly pernicious," prosecutors wrote. The material risked tainting the jury pool and could deter other potential witnesses from testifying at the trial, prosecutors wrote.

Persons: Sam Bankman, Fried, Caroline Ellison, Ellison —, —, Samuel Bankman, — Caroline Ellison, Ellison, Caroline Ellison Tyler Le, Rebecca Zisser, Lewis Kaplan, who's, didn't Organizations: Alameda Research, Prosecutors, New York Times, Times, Google, Federal, US Locations: Manhattan

☆ Prosecutors accuse Sam Bankman-Fried of leaking ex-girlfriend’s private notes to the New York Times
▼ + stars: | 2023-07-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Minneapolis CNN —Federal prosecutors have accused former FTX CEO Sam Bankman-Fried of witness tampering after he allegedly leaked the personal writings of his former girlfriend and business partner, Caroline Ellison, to the New York Times. They reportedly detailed her “unhappy and overwhelmed” emotional state as CEO of Alameda Research, FTX’s crypto hedge fund. The writings also reportedly expressed her doubts about her ability to make decisions and effectively run the business. Prosecutors say she is expected to serve as a witness in their criminal case against Bankman-Fried, who has pleaded not guilty to eight federal counts of fraud and conspiracy. A spokesperson for the New York Times and a lawyer representing Ellison did not immediately respond to requests for comment.

Persons: Sam Bankman, Caroline Ellison, Lewis Kaplan, Bankman, ”, Ellison, Kaplan, Damian Williams, “, ” Williams, Fried, — CNN’s Kara Scannell Organizations: Minneapolis CNN — Federal, New York Times, Star, Google, Alameda Research, Prosecutors, Government, ” Prosecutors, Bankman Locations: Minneapolis, FTX

☆ Meet 17 medical doctors at VC firms like GV and Khosla Ventures who are investing in the next big healthcare startups
▼ + stars: | 2023-07-20 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Some medical school graduates are bringing their expertise to the world of startup investing. Take a look at 17 doctors who are now investing at VC firms like GV and Khosla. And still others, including Khosla Ventures' Alex Morgan and Galym Imanbayev of Lightspeed Venture Partners, jumped directly to a VC firm after graduating from medical school. Even so, VCs with medical degrees all say they feel that their medical school training has been invaluable in terms of understanding a health startup's business. Take a look at Insider's list of 17 medical doctors who are now VCs at top firms like GV, Khosla Ventures, and more.

Persons: —, laud, Mark Zuckerberg, Larry Ellison, Jack Dorsey, Chris Kager, Robert Mittendorf, Alex Morgan, Galym, Alice Zheng Organizations: MDs, GV, Khosla, Global Health, Khosla Ventures, Lightspeed Venture Partners, University of Michigan Medical School, RH Capital

July 20 (Reuters) - FTX Trading on Thursday sued founder Sam Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion they allegedly misappropriated before FTX went bankrupt. FTX is now led by John Ray, who helped manage Enron after the energy trader's 2001 bankruptcy. FTX said Bankman-Fried and Wang also misappropriated $546 million to buy shares of Robinhood Markets (HOOD.O), while Ellison used $28.8 million to pay herself bonuses. The case is FTX Trading Ltd et al v Bankman-Fried et al, U.S. Bankruptcy Court, District of Delaware, No. The main bankruptcy case is In re FTX Trading Ltd et al in the same court, No.

Persons: Sam Bankman, FTX, Caroline Ellison, Gary, Wang, Nishad Singh, Fried, John Ray, Ellison, Singh, Jonathan Stempel, Mike Scarcella, Leslie Adler Organizations: Alameda Research, Enron, U.S, Robinhood, Bankruptcy, District of, FTX, bk, Thomson Locations: Delaware, Alameda, U.S, District, District of Delaware, New York

☆ Caroline Ellison reveals her feelings about working with ex-boyfriend Sam Bankman-Fried in Google Docs that lawyers uncovered
▼ + stars: | 2023-07-20 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Caroline Ellison reportedly wrote Google Doc entries about feeling out of her depth at Alameda. The docs revealed her difficult feelings about working with ex Sam Bankman-Fried, the New York Times reported. Sam Bankman-Fried, who appeared in Manhattan federal court late last year, faces trial in October. A representative for Sam Bankman-Fried declined to comment. Sam Bankman-Fried has been indicted on charges stemming from what prosecutors have alleged is a scheme to defraud FTX's customers of billions in funds.

Persons: Caroline Ellison, Sam Bankman, Ellison, It's, Amanda Perobelli, Fried Organizations: New York Times, Morning, Alameda Research, Google, Times, Reuters, US, Office, Southern, of Locations: Alameda, Manhattan, of New York

Three months before the cryptocurrency market imploded last year, Caroline Ellison, the 27-year-old chief executive of the crypto hedge fund Alameda Research, was racked with self-doubt. “I have been feeling pretty unhappy and overwhelmed with my job,” Ms. Ellison wrote in a Google document in February 2022. She did not think that she was well suited to running Alameda or was a particularly decisive leader, she wrote in another Google document. They had dated on and off, and Ms. Ellison worried about “making things weird” and “causing drama.”“It doesn’t really feel like there’s an end in sight,” she wrote in the February 2022 document. Now Ms. Ellison is poised to be a star witness at Mr. Bankman-Fried’s criminal trial, which is scheduled for Oct. 2.

Persons: Caroline Ellison, “, ” Ms, Ellison, Ms, Sam Bankman, ”, Bankman Organizations: Alameda Research Locations: Alameda

☆ FTX lawyers accuse Sam Bankman-Fried of financing his criminal defense with $10 million in misappropriated funds
▼ + stars: | 2023-07-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Sam Bankman-Fried, co-founder of failed crypto exchange FTX, was sued in Delaware bankruptcy court on Thursday by his ex-company's lawyers, who accuse him and members of his leadership team of stealing hundreds of millions of dollars. The lawyers are seeking to recover funds from Bankman-Fried and former executives of FTX and sister hedge fund Alameda Research. One way the attorneys for the bankrupt exchange say Bankman-Fried pilfered money was through a $10 million gift to his father, distinguished legal scholar Joe Bankman. Much of that $10 million gift from was routed from FTX to Bankman-Fried's Morgan Stanley and TD Ameritrade accounts around January 2022, the lawsuit alleges. WATCH: Taylor Swift agreed to FTX partnership, but the crypto exchange bailed

Persons: Sam Bankman, Fried, Joe Bankman, Fried's Morgan Stanley, FTX, Caroline Ellison, Gary Wang, Nishad Singh, Taylor Swift Organizations: Alameda Research, Bankman, FTX, Alameda Locations: Delaware, Bankman, Alameda, FTX

☆ Tesla directors will return $735 million to company to settle shareholder suit
▼ + stars: | 2023-07-18 | by ( ) edition.cnn.com time to read: +2 min

CNN —Tesla directors will return $735 million to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The directors, including Oracle (ORCL) co-founder Larry Ellison, agreed to return the equivalent value of 3.1 million Tesla stock options, according to a court filing. As part of the board directors compensation settlement, the directors also agreed to not receive any compensation for 2021, 2022 and 2023 and the board will change the way compensation is determined. Along with that gain in stock value, stock options awarded to the directors and to Musk rose sharply in value. Tesla had argued it used the stock options to ensure the incentives of directors were aligned with the goals of investors.

Persons: CNN — Tesla, Tesla, Larry Ellison, Musk, coercing Tesla Organizations: CNN, Elon Musk, Oracle, Police Locations: Delaware, City of Detroit

☆ Tesla's board of directors will return $735 million on claims they were overpaid
▼ + stars: | 2023-07-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Tesla directors are returning $735 million to the company to settle a suit that claims they were overpaid. That includes $458.6 million in company shares and $276.6 million in cash, per court filings. That totals to around $735 million, consisting of $458.6 million in company shares and $276.6 million in cash. The $735 million settlement stems from a 2020 lawsuit, wherein Detroit's Police and Fire Retirement System accused Tesla's board members of overpaying themselves in the form of stock options from 2017 to 2020. Tesla directors denied those claims, arguing that the company saw rapid growth sent the stock soaring.

Persons: Elon Musk, Larry Ellison, Rupert Murdoch's, James Murdoch, Elon Musk's, Kimbal Musk –, Tesla's, Tesla Organizations: Elon, Service, Oracle, Delaware Chancery, Reuters, Detroit's Police Locations: Wall, Silicon, Delaware

☆ Tesla directors pay $735 million to settle lawsuit over excess compensation
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: +2 min

The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla stock and challenged stock options that were granted to Tesla directors starting in June 2017. A ruling is expected soon in the Musk case. The directors, including Oracle co-founder Larry Ellison, agreed to return the equivalent value of 3.1 million Tesla stock options, according to a court filing. Along with that gain in stock value, stock options awarded to the directors and to Musk rose sharply in value. Tesla had argued it used the stock options to ensure the incentives of directors were aligned with the goals of investors.

Persons: Larry Ellison, Tesla, Musk, coercing Tesla Organizations: Tesla, Elon Musk, Oracle, Police Locations: Delaware, City of Detroit

Persons: Lucy Nicholson, Tesla, Larry Ellison, Musk, coercing Tesla, Tom Hals, Nick Zieminski, David Evans Organizations: REUTERS, Elon Musk, Oracle, Police, Thomson Locations: Los Angeles , California, U.S, WILMINGTON , Delaware, Delaware, City of Detroit, Wilmington , Delaware

☆ Billionaires and corporate execs have dumped $9 billion worth of stock this year amid the market's latest rally
▼ + stars: | 2023-07-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Billionaires and CEOs have dumped $9 billion in stock this year. Many of those sales have been concentrated in the tech sector amid Wall Street's frenzy over AI. Executives have cashed in on the rally as the S&P 500 recovers from a dismal 2022 performance. Meanwhile, AirBnB co-founder Joe Gebbia sold off $893 million of his company's stock during the first half. Oracle CEO Safra Catz also trimmed her holdings of the company, selling $470 million worth of the company's stock.

Persons: Walton, AirBnB, Joe Gebbia, Larry Ellison, Safra Catz, Salesforce's Marc Benioff, Stephane Bancel, Josh Harris Organizations: Service, CNBC, Walmart, Sam's, Oracle, Moderna, Apollo, Vanda Research Locations: Wall, Silicon

☆ Taylor Swift agreed to FTX partnership, but the crypto exchange bailed, source tells CNBC
▼ + stars: | 2023-07-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Former FTX Chief Executive Sam Bankman-Fried, right, exits the Manhattan federal court in New York City, Feb. 16, 2023. Taylor Swift signed and agreed to a sponsorship deal with bankrupt crypto exchange FTX after months of discussion before executives at FTX decided not to go through with the deal, a person familiar with the matter told CNBC. But Swift did ultimately agree to the deal, the person familiar with the matter told CNBC. Three other sources familiar with the matter told The New York Times that Swift's team signed the deal with FTX after six months of negotiations, and that Bankman-Fried ultimately pulled the plug. The person familiar with the matter asked to be kept anonymous due to ongoing federal and bankruptcy proceedings.

Persons: Taylor Swift, Sam Bankman, Swift, Bankman, Fried, FTX, Gary Wang, Caroline Ellison, Nishad Singh — Organizations: FTX, CNBC, The New York Times, New York Times, The Financial Times Locations: Manhattan, New York City

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