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Top related persons:
Sam Bankman - 2 Fried - 2 Caroline Ellison - 2 Bankman - 2 Gary Wang - 2 Adam Yedidia - 2 Wang - 2 FTX - 2
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Search resuls for: "Bahamas Securities Commission"


11 mentions found


☆ Sam Bankman-Fried's lawyers reveal his planned testimony in FTX fraud trial
  + stars: | 2023-10-26 | by ( Mackenzie Sigalos Dan Mangan | Mackenzie Sigalos | Dan Mangan | ) www.cnbc.com   time to read: +8 min
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
☆ 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
☆ Sam Bankman-Fried says he doesn't know who took $515 million from FTX's accounts after its bankruptcy filing
  + stars: | 2022-12-01 | by ( Pete Syme | ) www.businessinsider.com   time to read: +3 min
Sam Bankman-Fried says he doesn't know who accessed FTX's systems without permission during its collapse. He admitted there was "unauthorized access," but said he had no idea who was behind it. John J. Ray III, the CEO appointed to oversee the company's bankruptcy, then confirmed that "unauthorized access to certain assets has occurred." But now, two weeks after the "suspicious" transfer of $515 million was first reported, Bankman-Fried says he doesn't know who was behind it. At the DealBook Summit, Bankman-Fried also said he doesn't think he's criminally liable for FTX's implosion, and his lawyers didn't want him to talk publicly.
☆ FTX remains focus of 'active' investigation, Bahamas attorney general says
  + stars: | 2022-11-28 | by ( ) www.reuters.com   time to read: +3 min
Nov 27 (Reuters) - Collapsed cryptocurrency exchange FTX remains the subject of "an active and ongoing investigation" by Bahamian authorities, Bahamian Attorney General Ryan Pinder said on Sunday, as he praised the Bahamas' regulatory regime and swiftness with which it responded to the crisis. FTX, which had been among the world's largest cryptocurrency exchanges, is headquartered in the Bahamas. In mid-November, the Royal Bahamas Police said that government investigators in the Bahamas were looking at whether any "criminal misconduct occurred." read more"We are in the early stages of an active and ongoing investigation," Pinder said on Sunday, according to prepared remarks for the speech. Bahamas securities regulators had revoked FTX Digital's license and began involuntary liquidation proceedings the day before the U.S. bankruptcy case kicked off.
☆ The Bahamas has hit out at 'extremely regrettable' criticism from FTX's new CEO after the Nassau-based crypto giant collapsed
  + stars: | 2022-11-28 | by ( Pete Syme | ) www.businessinsider.com   time to read: +3 min
After FTX went bankrupt, the Bahamas suspended its license and took control of its digital assets. The Bahamas attorney general accused the FTX CEO of "inaccurate allegations" in his court filings. After the crypto exchange founded by Sam Bankman-Fried entered bankruptcy earlier in November, the Bahamas suspended FTX's license and took control of its digital assets by transferring them into a government crypto wallet. Ray is also known for acting as CEO for energy giant Enron, and handled its liquidation after accounting fraud. FTX's bankruptcy has led to calls for tighter crypto regulations from both US senators and the Bank of England.
☆ FTX collapse: The latest updates on the cryptocurrency crisis
  + stars: | 2022-11-14 | by ( Diksha Madhok | ) edition.cnn.com   time to read: +6 min
New Delhi CNN Business —Aftershocks from the massive earthquake in the trillion-dollar crypto industry last week continued to be felt on Monday. The episode has not just destroyed confidence in the crypto industry, but it will also embolden global regulators to tighten the screws. There is a “lot of risk,” said Changpeng Zhao, who runs the crypto exchange Binance. On Saturday, FTX said it was looking into whether crypto assets were stolen and has since moved all its digital assets offline. Crypto risk management firm Elliptic said although the theft was unconfirmed, $473 million in crypto assets were apparently stolen from FTX.
☆ FTX collapse being scrutinized by Bahamas authorities
  + stars: | 2022-11-13 | by ( Jasper Ward | ) www.reuters.com   time to read: +4 min
[1/3] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloNASSAU, Bahamas, Nov 13 (Reuters) - The collapse of cryptocurrency exchange FTX is the subject of scrutiny from government investigators in the Bahamas, who are looking at whether any "criminal misconduct occurred," the Royal Bahamas Police said on Sunday. Bankman-Fried had transferred $10 billion of customer funds to his trading company, Alameda Research, the sources said. Blockchain analytics firm Nansen said on Saturday it saw $659 million in outflows from FTX International and FTX U.S. in the preceding 24 hours. In its bankruptcy petition, FTX Trading said it has $10 billion to $50 billion in assets, $10 billion to $50 billion in liabilities, and more than 100,000 creditors.
☆ FTX collapse being scrutinized by Bahamas investigators
  + stars: | 2022-11-13 | by ( ) www.reuters.com   time to read: +2 min
[1/3] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloNov 13 (Reuters) - The collapse of FTX is the subject of scrutiny from investigators in the Bahamas, who are looking at whether any "criminal misconduct occurred," the Royal Bahamas Police said on Sunday. In a statement on Sunday, the Royal Bahamas Police said: "In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd., a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred." When asked by Reuters on Saturday whether he had flown to Argentina, he responded in a text message: "Nope". Reporting by Jasper Wade in the Bahamas; Writing by Megan Davies in New York; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.
☆ Bankrupt crypto exchange FTX is under criminal investigation in The Bahamas
  + stars: | 2022-11-13 | by ( Matt Egan | ) edition.cnn.com   time to read: +1 min
New York CNN —Authorities in The Bahamas are investigating potential criminal misconduct surrounding the stunning implosion of crypto exchange FTX, authorities said on Sunday. In a statement, the Royal Bahamas Police Force confirmed the investigation into FTX, which is headquartered in The Bahamas. It’s not clear which particular aspect of the swift collapse of FTX authorities are investigating. Previously one of the most trusted brands in crypto, FTX filed for bankruptcy on Friday and announced the resignation of Sam Bankman-Fried, its 30-year-old CEO who has lost a fortune in the past week. Neither FTX nor a lawyer representing Bankman-Fried responded to requests for comment on Sunday in response to the investigation from authorities in The Bahamas.
☆ Bahamian police reportedly interviewed Sam Bankman-Fried this weekend, investigations into downfall intensify
  + stars: | 2022-11-13 | by ( Bethany Biron | ) www.businessinsider.com   time to read: +2 min
Bahamian police questioned FTX founder Sam Bankman-Fried on Saturday, Reuters reported. The police say they are investigating if "criminal misconduct occurred" tied to the downfall of FTX. Bankman-Fried was rumored to have fled to Argentina earlier this weekend. The Royal Bahamas Police questioned Bankman-Fried to discover if any "criminal misconduct occurred," Reuters reported on Sunday. The Financial Times later reported that FTX held only $900 million in sellable assets against $9 billion in liabilities.
☆ FTX looks for $9.4 bln in rescue funds, Bahamas freezes some assets
  + stars: | 2022-11-11 | by ( Angus Berwick Anirban Sen | Angus Berwick | Anirban Sen | ) www.reuters.com   time to read: +6 min
He is seeking the remainder from other funds, including current investors in FTX such as venture capital fund Sequoia Capital, the source added. Tether's chief technology officer, Paolo Ardoino, tweeted that it had "no plans to invest in or lend assets to FTX." FTX also got hit by the Bahamas Securities Commission, where the company is based, freezing assets of FTX Digital Markets "and related parties". In a tweet, FTX said it had reached a deal with Tron to establish a special facility that would allow clients to swap some crypto assets from FTX to external wallets. Bankman-Fried told investors that Alameda owes FTX about $10 billion, the Wall Street Journal reported.
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