Bankman-Fried assets of almost $700 million seized ahead of fraud trial

Bankman-Fried assets of almost $700 million seized ahead of fraud trial

Federal prosecutors have seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to a Friday court filing. Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty … Read more

FTX founder Sam Bankman-Fried allowed $250 million bond, house arrest

FTX founder Sam Bankman-Fried allowed $250 million bond, house arrest

The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million (nearly Rs. 2, 070 crore) bond and live in his parents’ home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said Thursday. Assistant US Attorney Nicolas Roos said in the US … Read more