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☆ FTX'S Bankman-Fried's lawyer departs courthouse in Bahamas - Reuters witness
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] Jerone Roberts, lawyer of founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried, leaves the Magistrate Court building in Nassau, Bahamas December 20, 2022. REUTERS/Marco BelloDec 20 (Reuters) - A lawyer for Sam Bankman-Fried departed a court in the Bahamas on Tuesday and the founder of the failed FTX crypto exchange was not seen at the court, according to a Reuters witness, after a source said Bankman-Fried was prepared to return to the United States to face fraud charges. (This story has been refiled to fix the spelling of 'lawyer' in the first paragraph)Reporting by Tom Hals in Wilmington, DelawareOur Standards: The Thomson Reuters Trust Principles.

☆ Bankman-Fried hearing to resume on Wednesday as extradition decision looms
▼ + stars: | 2022-12-20 | by ( Maria Alejandra Cardona | Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | ) www.reuters.com time to read: +3 min

[1/2] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. Tuesday's events mark the latest episode in what has become a confusing, back-and-forth saga over Bankman-Fried's extradition. Last week, he initially told a Bahamas court he would contest extradition, but Reuters and other outlets reported over the weekend that he would reverse his decision. During a court hearing on Monday at which Bankman-Fried appeared, Roberts said he had not been informed of the purpose of the proceeding. The person familiar with the matter told Reuters after Monday's hearing that Bankman-Fried would indeed consent to extradition.

☆ FTX's Bankman-Fried, facing extradition, due back in Bahamas court
▼ + stars: | 2022-12-20 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +3 min

[1/2] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. It was not immediately clear if Bankman-Fried had arrived at the court in Nassau. On Monday, Bankman-Fried appeared in court in capital Nassau after Reuters and other outlets reported over the weekend that he had decided to agree to extradition. But during the tumultuous hearing, a Bahamas lawyer for Bankman-Fried, Jerone Roberts, said his client was not yet ready to consent. Upon arrival in the United States, Bankman-Fried would enter a plea in federal court within a day or two.

☆ Watch: Sam Bankman-Fried Closer to Extradition After Bahamas Hearing
▼ + stars: | 2022-12-20 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Watch: Thai Warship Sinks, Many Sailors Missing Video shows a Thai warship tilting before it sank Sunday, leaving at least 31 sailors missing in rough seas. Officials said the vessel was on a regular patrol when strong winds damaged its electrical system and it took on water. Photo: ROYAL THAI NAVY/AFP via Getty Images

☆ Mark Cuban says last year's crypto boom was '99% noise' – and Sam Bankman-Fried's arrest could pop the bubble
▼ + stars: | 2022-12-20 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Mark Cuban said there's still some underlying value in crypto despite the ongoing sell-off. "99% of it was noise but there's real value there," he told 'The Problem with Jon Stewart' Monday. Cuban added that Sam Bankman-Fried's arrest on fraud charges will force crypto to "get its act together". "There's the signal and the noise," Cuban told Apple TV+'s "The Problem with Jon Stewart". Stablecoin issuer Terra and hedge fund Three Arrows Capital collapsed earlier in 2022 as the crypto selloff brought to light potential instabilities in the digital asset sector.

☆ Bankrupt crypto lender BlockFi is seeking to reopen some customer withdrawals after halting them following FTX's collapse
▼ + stars: | 2022-12-20 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

BlockFi is seeking bankruptcy court approval to allow customers to withdraw cryptocurrencies from its BlockFi Wallet product. The crypto lender had paused all activity on its platform after the collapse of FTX. The filing does not specify seeking approval for withdrawals from its flagship BlockFi Interest Account. The platform aims to give clients access to their digital assets in its BlockFi Wallet product, according to a filing with the US Bankruptcy Court for the District of New Jersey. BlockFi sought bankruptcy protection as it had "significant exposure to FTX" and associated corporate entities.

☆ Who is Ryan Salame, the FTX exec, Republican mega-donor, and New England restaurateur who blew the whistle on FTX?
▼ + stars: | 2022-12-20 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Ryan Salame, FTX Digital Market's Co-CEO, tipped off regulators about what was going on at the exchange. Days before disgraced FTX founder Sam Bankman-Fried filed for Chapter 11 bankruptcy, Co-CEO Salame tipped off regulators on alleged malfeasance at the once-$32 billion crypto empire. Bankman-Fried notoriously told a Vox reporter "fuck regulators....they make everything worse" shortly after FTX filed for bankruptcy protection last month. "I always thought he was a great leader," Childs, who hasn't seen Salame since highschool, told The Berkshire Eagle. He purchased six pieces of real estate in the area to the tune of $6 million, according to The Berkshire Eagle.

☆ FTX's Bankman-Fried, facing extradition, to appear in Bahamas court -source
▼ + stars: | 2022-12-20 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +3 min

[1/2] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. On Monday, Bankman-Fried appeared in court in capital Nassau after Reuters and other outlets reported over the weekend that he had decided to agree to extradition. But during the tumultuous hearing, a Bahamas lawyer for Bankman-Fried, Jerone Roberts, said his client was not yet ready to consent. Roberts said Bankman-Fried had seen an affidavit outlining the U.S. charges against him, but that he wanted to see the full indictment, which was unsealed in Manhattan federal court on Dec. 12. Upon arrival in the United States, Bankman-Fried would enter a plea in federal court within a day or two.

Sam Bankman-Fried, co-founder of FTX, is escorted out of the Magistrate's Court in Nassau, Bahamas, on Monday, Dec. 19, 2022. FTX founder Sam Bankman-Fried signed extradition papers in the Bahamas and will return to the U.S. on Wednesday, a Bahamas prison official told NBC News. Bankman-Fried stands accused by federal law enforcement and financial regulators of perpetrating what the SEC called one of the largest and most "brazen" frauds in recent memory. Bankman-Fried was indicted in New York federal court on Dec. 9 and was arrested three days later by Bahamas law enforcement at the request of U.S. prosecutors. WATCH: Sam Bankman-Fried defied the advice of lawyers

☆ Democrats' Senate Majority PAC plans to return $3 million in donations from disgraced former FTX executives
▼ + stars: | 2022-12-20 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

The pro-Democratic Senate Majority PAC plans to return $3 million in donations from former FTX CEO Sam Bankman-Fried and the crypto exchange's ex-head of engineering, Nishad Singh, the group said Tuesday. The super PAC, which spent more than $160 million supporting Democratic bids for Senate seats, received $2 million from Singh and $1 million from Bankman-Fried during the 2022 election cycle, according to Federal Election Commission records. The Democratic National Committee and the party's Senate and House campaign arms — the Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee — have made similar commitments to return donations from former FTX executives. Bankman-Fried has contributed millions toward other PACs aligned with the Democratic Party, including to the House Majority PAC, Protect Our Future and Future Forward USA. Bankman-Fried also donated $6 million in April to House Majority PAC, which raises money for Democratic candidates running for the lower chamber, according to an FEC filing.

☆ Sam Bankman-Fried had to be 'awakened' by a court official after closing his eyes during his extradition hearing, report says
▼ + stars: | 2022-12-20 | by ( Grace Dean | Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

SBF had to be "awakened" by a court official after closing his eyes during a hearing, per Reuters. Bankman-Fried was in court in Nassau, the capital of the Bahamas, on Monday. Last week he had indicated to the court that he wasn't waiving his right to challenge his extradition to the US. The Journal reported that at the hearing, a court official told Bankman-Fried to stand up straight. When asked to stand in court, Bloomberg reported that Bankman-Fried had removed his blue suit jacket, untucked his shirt, and had his sleeves rolled up.

It was not immediately clear when Bankman-Fried would depart the Bahamas, where he was arrested on Dec. 12 per a U.S. extradition request. At the hearing, his local criminal defense attorney, Jerone Roberts, told Serville initially that he did not know why Bankman-Fried was brought to court on Monday morning. Serville said at the hearing that he could not take any action on Bankman-Fried's extradition without the former billionaire's consent. [1/9] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. At one point during the hearing, Bankman-Fried leaned back with his eyes closed and appeared to be awakened by a court official.

Krystal Rolle, a lawyer who has represented Bankman-Fried on other matters in the Bahamas, told Reuters Bankman-Fried had decided to consent to be extradited to the United States. After the hearing, Bankman-Fried was remanded back to the custody of the Bahamas' Department of Corrections. During Monday's hearing, Bankman-Fried, dressed in a dark blue jacket and an untucked white shirt, spoke only to greet Magistrate Shaka Serville and confirm he would speak with his U.S. counsel. Roberts told Serville initially that he did not know why Bankman-Fried was brought to court on Monday morning. When the hearing concluded, Bankman-Fried was given the chance to speak on the phone with his U.S. defense lawyer with Roberts present.

When the hearing concluded, Bankman-Fried was given the chance to speak on the phone with his U.S. defense lawyer with Roberts present. After the hearing, Bankman-Fried was remanded back to the custody of the Bahamas' Department of Corrections. [1/9] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. Roberts told Serville initially that he did not know why Bankman-Fried was brought to court on Monday morning. Following a recess, the lawyer said Bankman-Fried wanted to see the indictment before consenting to extradition.

Bankman-Fried initially had said he would fight extradition after his arrest a week ago in the Bahamas, where he lives and FTX is based. [1/7] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried arrives at the Magistrate Court building in Nassau, Bahamas December 19, 2022. Bankman-Fried's defense lawyer initially told Serville that he did not know why Bankman-Fried was brought to court on Monday morning. Following a recess, the lawyer said that Bankman-Fried wanted to see the indictment before consenting to extradition. Mark Cohen, a U.S. lawyer who represents Bankman-Fried, did not immediately reply to a request for comment.

☆ Bankman-Fried wants to see indictment before agreeing to extradition - lawyer
▼ + stars: | 2022-12-19 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: 1 min

Dec 19 (Reuters) - Sam Bankman-Fried wants to see the U.S. indictment against him for his role in the collapse of the FTX crypto exchange he founded before he agrees to be extradited from the Bahamas, his lawyer told a court in the Bahamas on Monday. Reporting by Tom Hals in Wilmington, DelawareOur Standards: The Thomson Reuters Trust Principles.

Bankman-Fried initially had said he would fight extradition after his arrest a week ago in the Bahamas, where he lives and FTX is based. Reuters reported first on Saturday that Bankman-Fried would return to court to reverse his decision, citing a source. Bankman-Fried's defense lawyer however told Magistrate Shaka Serville that he does not know why Bankman-Fried was brought to court this morning. LONG ROAD TO EVENTUAL TRIAL[1/7] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried arrives at the Magistrate Court building in Nassau, Bahamas December 19, 2022. REUTERS/Dante Carrer 1 2 3 4 5Upon being extradited to the United States, Bankman-Fried would be required to appear before a judge in Manhattan within two days, though the hearing would likely take place quickly.

☆ Sam Bankman-Fried, founder of FTX, to waive extradition in Bahamas court
▼ + stars: | 2022-12-19 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +1 min

Former FTX CEO and founder Sam Bankman-Fried will appear in Bahamas court on Monday where he’s expected to waive his extradition rights, according to a source with direct knowledge of the situation. The move is a stunning reversal of course for Bankman-Fried who was arrested in the Bahamas Dec. 12 and initially resisted extradition. Bankman-Fried, 30, once the most prominent name in crypto, has since seen his empire fall into disgrace over the past few weeks. Last week, he was indicted in New York federal court on eight counts spanning wire fraud, conspiracy to commit wire fraud, and violating campaign finance laws. At a congressional hearing on FTX’s collapse and missteps last week, the company’s new CEO, John J. Ray III, lashed out at FTX’s leadership under Bankman-Fried.

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

Dec 19 (Reuters) - Sam Bankman-Fried, founder of now-bankrupt crypto exchange FTX, is expected to appear in court in the Bahamas on Monday and agree to be extradited to the United States, where he faces fraud charges. Bankman-Fried initially said he would fight extradition after his arrest a week ago in the Bahamas, where he lives and FTX is based. Reuters reported first on Saturday that Bankman-Fried would return to court to reverse his decision. Upon being extradited to the United States, Bankman-Fried would be required to appear before a judge in Manhattan within two days, though the hearing would likely take place quickly. Any trial of Bankman-Fried is likely more than a year away, legal experts told Reuters.

☆ Sam Bankman-Fried’s Lawyers Hash Out His Transfer to U.S. After Confusion in Court
▼ + stars: | 2022-12-19 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

NASSAU, Bahamas—FTX founder Sam Bankman-Fried inched closer to being transferred into U.S. custody to face criminal charges related to the cryptocurrency exchange’s collapse, after a chaotic court hearing here Monday in which his local lawyer appeared at odds with his U.S. legal team. Mr. Bankman-Fried has agreed to be extradited, according to a person familiar with the matter, and plans were being fleshed out by his legal team after the day’s court proceedings. Mr. Bankman-Fried’s lawyers hope to have a new hearing on the matter as early as Tuesday, the person said.

☆ Premarket stocks: Why the market is obsessed with unemployment
▼ + stars: | 2022-12-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Stocks plunged earlier this month after the closely watched November jobs report showed a resilient labor market. They fell again on Thursday when weekly numbers showed the number of Americans filing for unemployment benefits fell, indicating a still-tight labor market. “There’s an imbalance in the labor market between supply and demand,” he said, adding that it will take a “substantial period” to fix that imbalance. That path to the Fed’s 2% inflation target is through the jobs market. “There will be some softening in labor market conditions,” Powell said.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin stays below $17,000, and SBF appears in Bahamas court to discuss next steps: 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, Peter Vessenes, the co-founder of the Bitcoin Foundation, discusses his outlook for the cryptocurrency in 2023.

☆ Goodbye to the good life: The cushy perks of tech work are rapidly disappearing.
▼ + stars: | 2022-12-19 | by ( Asia Martin | ) www.businessinsider.com time to read: +4 min

Over the past year, more and more tech workers have seen perks pulled as companies try to ride out a tough market and potential recession. As perks disappear and performance reviews become more brutal, tech workers' compensation will remain high. But for tech workers who, quite literally, enjoyed a free lunch, it still feels like the end of an era. Layoffs have wracked the tech industry, with 150,000 tech workers losing their job in 2022. But it's clear that for some tech workers, this perk correction has been overdue.

☆ Sam Bankman-Fried pictured arriving at courthouse in Bahamas, where his extradition to the US could be decided
▼ + stars: | 2022-12-19 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

It's still not certain if Sam Bankman-Fried will submit to an extradition to be brought to the US. He's facing serious wire fraud and conspiracy charges in New York federal court. Federal prosecutors in the US have hit Bankman-Fried with 8 counts, including for wire fraud, conspiracy to commit money laundering, and conspiracy to violate campaign finance laws. "These contributions were disguised to look like they were coming from wealthy co-conspirators when, in fact, the contributions were funded by Alameda research with stolen customer money," Williams said at the conference. The brief indictment against Bankman-Fried targeted just him, and laid the foundation to extradite him from the Bahamas.

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