According to the New York Times, federal prosecutors are requesting a harsh punishment, with terms ranging from 40 to 50 years behind bars. This pales in comparison to the defense’s plea for leniency, which proposes a sentence of just five to six and a half years.

Read Also: FTX Founder Sam Bankman-Fried Jailed By a Federal Judge Over Witness Intimidation

From Cryptocurrency Titan to Alleged Embezzler

Bankman-Fried was once a prominent figure in the cryptocurrency industry; he co-founded FTX, a platform that soared to a valuation of $40 billion. However, this success story came apart dramatically in late 2023.

FTX filed for bankruptcy after it was revealed that Bankman-Fried had allegedly diverted a whopping $8 billion in customer funds for personal and political uses. The revelation sent a shock through the crypto world, raising concerns about transparency and accountability within the industry.

The Prosecution’s Case for a Maximum Sentence

Prosecutors are arguing for a lengthy sentence due to the severity of the crimes committed. They portray Bankman-Fried’s actions as a deliberate and large-scale scheme that defrauded billions of dollars from unsuspecting investors.

The substantial sum of money involved, coupled with the potential for a repeat offense, is being used to justify a lengthy prison term. This punishment, prosecutors argue, would serve as a deterrent to future bad players in the cryptocurrency space.

Defense Argues for Leniency

Contrary to the prosecution’s harsh stance, Bankman-Fried’s defense team is seeking a significantly shorter sentence. The picture they paint of their client is that of a young entrepreneur who has indeed made mistakes but lacks malicious intent.

The defense underlines Bankman-Fried’s lack of a criminal record, while also claiming that he is a committed philanthropist. Additionally, they argue that FTX customers are likely to recover their full investments, downplaying the financial harm caused by Bankman-Fried’s actions.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: Ethereum’s Vitalik Buterin Writes Court to Treat Virgil Griffith with Leniency in Upcoming Sentencing

The ultimate decision regarding Bankman-Fried’s sentence lies with the presiding judge. The glaring difference between the prosecution’s and defense’s recommendations shows the complex considerations involved in this case.

Regardless of the sentence ultimately imposed, this case has undoubtedly cast a long shadow over the cryptocurrency industry, serving as a cautionary tale about the need for robust regulations and investor protection measures.

Follow us on Twitter, Facebook, Telegram, and Google News

The post Prosecutors Urge Court To Jail Sam Bankman-Fried For 50 Years appeared first on Times Tabloid.

Steven Nerayoff, attorney and former advisor for Ethereum (ETH), has recently posted an appalling piece about Ether and its founders on X.

The lawyer who gained his close knowledge of Ethereum while working for the blockchain network shared the alleged fraudulent actions of Vitalik Buterin and Joseph Lubin.

Read Also: Vitalik Buterin Sparks Speculation with Deleted ‘XRP Better Sound Money than Bitcoin’ Post

According to Nerayoff, these founders allegedly carried out fraudulent activities that beat the scale of crime committed by FTX founder, Sam Bankman-Fried, in 1000 folds.

FTX, involving its founder SBF, has been in the news for about a year. The case is currently seen as the biggest fraud in cryptocurrency history. About $10 billion in customers’ assets were mismanaged in FTX accounts, while millions were sent to another company owned by SBF, Alameda Research.

FTX founder was found guilty on all seven federal counts which could potentially lead to a maximum sentence of 110 years in prison.

SBF was charged with money laundering, wire fraud, securities fraud, and other counts related to the alleged misuse of customer funds from FTX to support his other firm, Alameda Research. A jury quickly reached a verdict, holding him responsible for the disappearance of $10 billion in customer funds.

Read Also: Vitalik Buterin Sends $1 Million in ETH to Coinbase, Sparks Speculation

Although Nerayoff has not presented any tangible evidence to nail the Ethereum founders for their alleged fraudulent activities, this is not the first time he’s accused the founders of corruption. In September, he accused Vitalik and his father, Dmitry of an attempt to destroy his reputation by accusing him of ETH ICO extortion.

Nerayoff also revealed that both Vitalik and Lubin have been allegedly conniving with corrupt officials from federal agencies. He mentioned current and former SEC Chairmen Gary Gensler and Jay Clayton as those Ethereum may have had secret dealings with.

Steven Nerayoff tweeted, “Ethereum is the fraudulent elephant in the room in plain sight 1000x bigger than SBF. Joe Lubin & Vitalik Buterin have been the front with corrupt officials at the highest levels of federal agencies such as Clayton, Gensler & many others. Cover this now.”

Ethereum is the fraudulent elephant in the room in plain sight 1000x bigger than SBF. Joe Lubin & Vitalik Buterin have been the front with corrupt officials at the highest levels of federal agencies such as Clayton, Gensler & many others. Cover this now.

— Steven Nerayoff (@StevenNerayoff) November 2, 2023

These allegations show that the corruption resonating in the Ethereum network has given the project an upper hand over other crypto projects. However, since there is no concrete evidence provided, his claims remain allegations that don’t hold water.

Follow us on Twitter, Facebook, Telegram, and Google News

The post Ethereum Insider Reveals: Ethereum Founders’ Fraud Is 1000x Bigger than FTX Fraud appeared first on Times Tabloid.

This incident occurred while SBF was conducting trades from the Alameda Research account, raising serious concerns about his handling of customer funds.

Read Also: FTX Founder Sam Bankman-Fried Convicted On 7 Federal Counts, Could Spend 110 Years In Prison

The Lost XRP and SBF’s Nonchalant Response

According to the report, SBF downplayed the significance of the lost funds, suggesting that the money might have been transferred from a US-based exchange, regularly used by Alameda, to a South Korean counterpart.

This casual response from SBF sparked worries among Alameda Research employees, who felt that the situation was not being taken seriously.

Employees at Alameda Research had to take matters into their own hands and pressure SBF into refraining from trading for two weeks. They believed that this pause was necessary to conduct a thorough investigation into the missing funds. SBF reluctantly accepted this condition, indicating a lack of transparency and accountability on his part.

During the investigation, SBF attempted to convince employees to falsely claim that the company still possessed 80% of its XRP assets, despite the fact that the tokens were missing. This further eroded trust in SBF’s leadership and raised questions about his integrity.

The disappearance of the 20 million XRP tokens became the breaking point for Alameda Research employees who had already grown weary of SBF’s reckless approach to managing the company’s accounts.

Even during the period when the funds were unaccounted for, Alameda Research continued to execute over 250,000 trades per day, with most of them lacking proper documentation.

Recovery of the Missing XRP

Several months later, Alameda Research finally located the missing XRP tokens. It was discovered that the tokens had been transferred from the Kraken exchange to the South Korean-based crypto platform, Bithumb.

Surprisingly, the 20 million XRP arrived at Bithumb without any indication of the sender’s identity. However, Alameda Research did not promptly reach out to reclaim the funds, raising questions about their handling of the situation.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: XRP Holds Strong as Whale Moves 31.4 Million XRP to Bitstamp Before FTX Selloff

SBF’s Interaction with Bithumb

Upon realizing where the misplaced tokens had gone, Sam Bankman-Fried directly contacted Bithumb. In a candid phone conversation, a Bithumb employee expressed their surprise at the delayed communication, asking, “Are you the f—er who sent us like 20 million Ripple tokens? How the f— are you only calling us now?” This interaction further highlights the lack of oversight and timely action by SBF and Alameda Research.

The incident involving the misplaced XRP is just one of many shocking revelations surrounding SBF’s handling of customer funds. Recent reports have also disclosed SBF’s use of profits from Alameda Research to purchase Solana (SOL) at an incredibly low price of $0.20.

Additionally, SBF’s belief that it was acceptable to invest FTX customer funds in the sister company, Alameda Research, raises serious ethical concerns.

This damning report by The Wall Street Journal provides further evidence of SBF’s reckless mishandling of customer funds and his apparent lack of sound judgment.

The case involving the misplaced XRP tokens represents just one example of a broader pattern of mismanagement observed during SBF’s tenure at FTX and Alameda Research.

Follow us on Twitter, Facebook, Telegram, and Google News

The post FTX Founder’s Reckless Misplacement of 20 Million XRP Revealed in Damning Report appeared first on Times Tabloid.

According to the report, SBF has been found guilty on all seven federal counts, which include charges related to fraud and money laundering, following a high-profile trial involving the now-defunct crypto exchange FTX and the firm Alameda Research. The charges could potentially lead to a maximum sentence of 110 years in prison.

SBF was charged with money laundering, wire fraud, securities fraud, and other counts related to the alleged misuse of customer funds from FTX to support his other firm, Alameda Research. A jury quickly reached a verdict, holding him responsible for the disappearance of $10 billion in customer funds.

Read Also: FTX Founder Sam Bankman-Fried Jailed By a Federal Judge Over Witness Intimidation

Will SBF Spend 110 Years in Prison?

Forbes reports that legal experts are discussing the possibility of SBF facing a lengthy prison sentence. While white-collar criminals often receive sentences much shorter than the maximum, the federal judge Lewis Kaplan, who presided over the case, may choose to break from this trend and impose a substantial sentence, similar to the case of Bernie Madoff, who received a 150-year sentence.

The report cites former federal prosecutor Mitchell Epner and Vermont Law School professor Jared Carter, both of whom expect SBF to spend multiple decades in prison.

Additionally, Forbes reports that federal prosecutors plan to hold a second trial focusing on alleged bribery, bank fraud, and campaign finance violations, which could further impact SBF’s overall sentencing. Judge Kaplan’s previous decision to revoke SBF’s bail due to repeated violations is also highlighted.

Forbes emphasizes that federal judges have broad discretion in sentencing, considering various factors, including the individual’s personal and criminal history, the nature of the crime, and the aim of deterring future crimes. In SBF’s case, the severity of the crimes and the potential deterrence factor are crucial considerations.

The report states that SBF’s sentencing is scheduled for March 28, 2024, and the decision of Judge Kaplan could have significant implications.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: CZ Binance Brands FTX’s Bankman-Fried “One of the Greatest Fraudsters in History”

Legal experts suggest that the outcome might vary, ranging from a substantial sentence to a more lenient one, similar to the case of Elizabeth Holmes, the founder of Theranos, who received over 11 years out of a potential 80-year sentence.

The report also mentions that former FTX co-founder Gary Wang, former Alameda Research CEO Caroline Ellison, and FTX’s top engineer Nishad Singh, who pleaded guilty to fraud, may receive reduced sentences due to their cooperation with federal authorities.

SBF has influence in the crypto community, as seen by the recent launch of the meme coin HairyPlotterFTX during the trial, and watching this case unfold will be intriguing.

Follow us on Twitter, Facebook, Telegram, and Google News

The post FTX Founder Sam Bankman-Fried Convicted On 7 Federal Counts, Could Spend 110 Years In Prison appeared first on Times Tabloid.

New York, NY –  In the enchanting world of cryptocurrency, where innovation meets whimsy, a new project has emerged to cast a spell of excitement among crypto enthusiasts. HairyPlotterFTX is the name, and it brings together the enchantment of Hogwarts with the power of FTX exchange. With its unique approach to meme coins, HairyPlotterFTX is making waves in the crypto universe.

HairyPlotterFTX invites you to embark on a magical journey through the world of crypto memes. Forget about Pepe and the dogs; it’s time for Hairy Plotter to take the throne as the most memeable meme coin in existence.

Unveiling the Magical Launch

HairyPlotterFTX made a stealthy entrance into the crypto world, surprising everyone with its rapid ascent, soaring to a staggering $4.5 million market cap within a few hours of its launch. Liquidity is a top priority, and to ensure this, liquidity has been locked for an astonishing 115 years! This commitment to long-term stability mirrors the potential fate of a well-known figure in the crypto world, SBF, who might be facing up to 115 years in prison.

Furthermore, the contract has been renounced, enhancing security and trust in the project. The Dextools socials have been updated, and the Shield bot is active, providing an extra layer of protection. HairyPlotterFTX is not just making waves; it’s trending on both Buybot and Safeguard, further solidifying its presence in the crypto landscape. The project is also in the process of applying for listings on Coingecko and Coinmarketcap, signaling its determination to be recognized as a significant player in the crypto space.

No Taxes, No Bullshit: An Even Playing Field for All

One of the key features that sets HairyPlotterFTX apart is its commitment to a fair and transparent ecosystem. Unlike many other crypto projects, HairyPlotterFTX had no presale, ensuring that everyone starts on an even playing field. But that’s not all – HairyPlotterFTX takes the concept of “no taxes” to a whole new level. Holders of $FTX tokens can keep 100% of their gains, with ZERO taxes! This commitment to minimizing financial burdens is a testament to the project’s dedication to its community.

Exciting Developments Await

In an intriguing turn of events, rumors circulate that HairyPlotterFTX’s inspiration may stem from Sam Bankman-Fried‘s (SBF) notorious aversion to taxes. As SBF’s trial approaches, HairyPlotterFTX takes center stage in the crypto universe, adding intrigue and excitement to the legal proceedings.

Token Metrics and Transparency

HairyPlotterFTX maintains a high level of transparency in its tokenomics. The total supply of $FTX tokens is capped at 10,000,000,000. A significant 90% of these tokens were sent to the liquidity pool, with LP tokens subsequently burnt, and the contract was renounced to ensure the project’s commitment to decentralization. The remaining 10% of the supply is held in a multi-sig wallet, to be used exclusively for future centralized exchange listings, bridges, and liquidity pools. This wallet is easily trackable with the ENS name “ftxrecovery.eth,” further enhancing transparency for the community.

Join the Magical Journey

Embark on a whimsical journey with HairyPlotterFTX! Explore the mystical world where crypto meets magic, and where gains are maximized, taxes are eliminated, and security is paramount. Visit the official website at https://www.hairyplotterftx.com/ and stay updated by following the project on Twitter at https://x.com/HairyPlotterFTX and joining the Telegram community at https://t.me/HairyPlotterFTXPortal.

About HairyPlotterFTX

HairyPlotterFTX is a magical crypto meme project that combines the enchantment of Hogwarts with the power of the FTX exchange. With a commitment to transparency, fairness, and a touch of whimsy, HairyPlotterFTX invites crypto enthusiasts to join its enchanting journey through the world of memes.

Website | Twitter | Telegram | DEXTools

HairyPlotterFTX

Juan Chavis Escobar

contact@hairyplotterftx.com

https://www.hairyplotterftx.com/

Disclaimer:

It is imperative to note that the $FTX coin maintains no affiliation with Sam Bankman or FTX. This token serves as a tribute to a beloved meme, and its value is purely entertainment-driven. $FTX is a meme coin devoid of intrinsic value or anticipated financial returns. There exists no formal team or predefined roadmap; it exists solely for amusement. The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor) before investing or trading securities and cryptocurrency.

The post SBF’s Influence? HairyPlotterFTX Emerges as SBF’s Trial Looms Large appeared first on Times Tabloid.

According to the report, Judge Lewis Kaplan ruled on Friday that there was a “serious risk” that Bankman-Fried would interfere with the trial process if he were released on bail.

Prosecutors had argued that Bankman-Fried had tried to intimidate witnesses expected to testify against him and that he had used a virtual private network (VPN) to try to conceal his communications.

Bankman-Fried’s attorneys had argued that he was not a flight risk and that he had not tried to intimidate witnesses. They also said that his use of a VPN was for legitimate business purposes.

But Judge Kaplan said that the evidence presented by prosecutors was “more than sufficient” to justify revoking Bankman-Fried’s bail.

“The defendant has shown a propensity to engage in conduct that is designed to obstruct justice,” the judge said. “He has shown a willingness to use his wealth and resources to do so.”

In addition to the evidence presented by prosecutors, Judge Kaplan also cited the following factors in his decision to revoke Bankman-Fried’s bail:

• Bankman-Fried’s wealth and resources, which could allow him to flee the country or attempt to influence witnesses.
• Bankman-Fried lack of ties to the community, as he is a recent arrival to the United States and does not own property here.
• Bankman-Fried’s history of making false statements suggests that he is not trustworthy.

Bankman-Fried is accused of misusing money from investors and customers of FTX to pay for personal expenses, such as property and political donations. He has pleaded not guilty to the charges.

His trial is scheduled to begin in October.

The impact of the decision

The decision to revoke Bankman-Fried’s bail is a significant development in the case against him. It suggests that prosecutors believe that he is a flight risk and that he is a danger to the community.

Although the case against Bankman-Fried is complex, there is no guarantee that he will be convicted. However, the decision to revoke his bail is a setback for him and it will make his defense more difficult.

The case is also a reminder of the risks associated with investing in cryptocurrencies. FTX is a major cryptocurrency exchange, and its collapse has had a significant impact on the market.

Follow us on Twitter, Facebook, Telegram, and Google News

The post FTX Founder Sam Bankman-Fried Jailed By a Federal Judge Over Witness Intimidation appeared first on Times Tabloid.

Recent discoveries by the New York Times showed that SBF handed out a whopping $400 million to Modulo Capital – a hidden greenhorn crypto trading firm – co-founded by his one-time lover Xiaoyun Zhang (or Lily) in March 2022.  The other founder of this firm bears the name Duncan Rheingans-Yoo, and he is a young college leaver. 

Per the report, the $400 million in funding was given in two transactions. While Sam-Bankman Fried invested $150 million in the third quarter of 2022, he invested $250 in the fourth quarter of last year. 

“NYTIMES: SBF invested $400 million in Modulo Capital in the third and fourth quarters of 2022. Co-founder Xiaoyun Lily Zhang had a relationship with SBF and worked together at Jane Street Capital,” Wu Blockchain also tweeted. 

NYTIMES: SBF invested $400 million in Modulo Capital in the third and fourth quarters of 2022. Co-founder Xiaoyun Lily Zhang had a relationship with SBF and worked together at Jane Street Capital. https://t.co/3HVy618W8W

— Wu Blockchain (@WuBlockchain) January 25, 2023

Although Modulo Capital has not been charged with any crime, it is said that the cryptocurrency trading firm which operated from Albany Resort – the same vicinity where Mr. Bankman-Fried resided in the Bahamas – has become critical to the investigation process of the beleaguered former FTX boss.

The NY Times report added that Modulo Capital employed an ex-CFTC director of enforcement lately as a criminal defense lawyer.

These findings come as the current FTX leadership and company lawyers are in search of funds and assets belonging to SBF to utilize in reimbursing users affected by the exchange’s crash in November.

So far, $500 million has been seized from Sam-Bankman Fried by federal prosecutors according to Business Insider. This includes the $50 million held by him in a non-popular bank, Farmington State Bank. 

Read Also: Do Kwon Accuses FTX Founder of Manipulating Terra (LUNA) and UST Prices, Others Share Evidence

As earlier reported by TimesTabliod, the now-bankrupt FTX is equally owing Ripple, the San Francisco -based cross-border payment firm $10 million worth of XRP which was leased to the exchange last year.

While Ripple CEO Brad Garlinghouse hopes to recover the funds via the ongoing bankruptcy process, he noted that the FTX indebtedness is inconsequential to Ripple’s business. 

Notably, the FTX ex-Chief who was arrested and later extradited to the United States pleaded not guilty to the charges leveled against him.

Regardless, the CEO of Binance branded Sam-Bankman Fried one of the biggest fraudsters in history. On the other hand, a top CNBC contributor Kevin O’Leary blamed Changpeng Zhao for the collapse of FTX.

Follow us on Twitter, Facebook, Telegram, and Google News

The post FTX Founder SBF Gave $400 Million To a Hidden Company Co-founded By His One-Time Lover appeared first on Times Tabloid.

Per a recent fireside chat on CNBC’s Tech Transformers at Davos, Brad Garlinghouse stated that Ripple had leased $10 million worth of XRP to the once-thriving cryptocurrency trading firm FTX Trading Limited.

Notably, the San Francisco-based crypto solutions company, as part of its business, often leases varying amounts of the XRP digital token meant for sales to several market makers. As shown in Ripple’s report for the 3rd Quarter of 2022, a total of 91.1 million XRP were marked as outstanding leases. 

In light of Sam-Bankman Fried’s alleged corruption and ongoing court case, coupled with the crash of the FTX exchange in November, Ripple CEO Brad Garlinghouse is skeptical about FTX’s repayment of the $10M in XRP. 

But Ripple intends to leverage the ongoing bankruptcy process to recover all or some portions of the leased XRP to the now-bankrupt cryptocurrency centralized marketplace. 

He said, “we did have some exposure to FTX. I think we have publicly shared before – there’s around just over $10 million of XRP we had leased to FTX that they use for various things on FTX.  I’m hopeful that through the bankruptcy process, we get some or all of it back but uh it’s not too consequential to the business.”

Read Also: Ripple CEO Restates His Optimism On XRP Lawsuit Ending in First Half of 2023

Speaking on the impact of the company’s exposure to FTX, Garlinghouse stated the $10 million worth of XRP represented about 1% of Ripple’s liquid assets. Hence, their regular business is not adversely affected by FTX’s indebtedness. 

“I would rather not lose that money. And I’m hopeful that through the bankruptcy process, we get some or all of it back, but it’s not too consequential to the business,” the Ripple CEO remarked. 

Meanwhile, the Wednesday disclosure from Garlinghouse was questioned by some players in the industry. Linda P. Jones wrote, “Brad said they “leased” over $10 million of XRP to FTX. I don’t remember Brad Garlinghouse or Ripple saying they “leased” XRP to anyone before.”

Brad said they "leased" over $10 million of XRP to FTX. I don't remember #BradGarlinghouse or #Ripple saying they "leased" XRP to anyone before, do you @digitalassetbuy or @DigPerspectives? https://t.co/yIrmwD57KF

— Linda P. Jones (@LindaPJones) January 18, 2023

It bears mentioning that Ripple had earlier indicated an interest in acquiring FTX assets but there has been no update regarding such a deal from Brad Garlinghouse.

Follow us on Twitter, Facebook, Telegram, and Google News

The post Ripple Leased $10 Million Worth of XRP to the Imploded FTX –Brad Garlinghouse Discloses appeared first on Times Tabloid.

Reacting to the fall of SBF’s crypto empire in early November, the popular investor Mr. Wonderful blamed Changpeng Zhao, the founder, and CEO of Binance for the abrupt implosion of the FTX exchange. According to him, Binance orchestrated the meltdown of FTX Trading Limited given that both top centralized exchanges were at war with each other.  

Following the Tuesday arrest of Sam Bankman-Fried, the founder of the collapsed crypto exchange FTX by the Bahamas authorities, and his subsequent extradition to the United States, many relevant industry players have been interviewed by the senate banking committee. 

In a recent hearing where Senator Pat Toomey, the United States Senator for Pennsylvania asked Kevin O’Leary why FTX failed. In response, O’Leary channeled all the blame on CZ Binance, claiming that the Binance exchange is unregulated. 

“I have an opinion, I don’t have the records. Here it is: these two behemoths that own the unregulated market together and grew these incredible businesses in terms of growth were at war with each other and one put the other out of business intentionally,” O’Leary said. 

“Binance is a massive unregulated global monopoly now. They put FTX out of business,” he remarked. 

.@SenToomey asks @kevinolearytv why he believes @FTX_Official failed.@binance put FTX out of business.

Watch the live proceedings: https://t.co/p7enF9mdxu pic.twitter.com/aKTUxA2Eud

— CoinDesk (@CoinDesk) December 14, 2022

Read Also: CZ Binance Brands FTX’s Bankman-Fried “One of the Greatest Fraudsters in History

Ripple CTO and Attorney John Deaton Reacts

It is worth noting that Kevin made these comments despite an earlier assertion by Senator Toomey that the problem with FTX was not with the instruments that were used but rather the misuse of customer funds. Hence, the unnecessary attack on Binance has prompted several members of the broader crypto community including Ripple CTO and John Deaton to blast O’Leary.

“Does this man have no shame? Against the entire weight of an absurdly massive amount of evidence, he blames the FTX collapse on Binance,” David Schwartz, the CTO at Ripple and the co-creator of the XRP Ledger wrote. “Let me just say that If Binance had anything to do with FTX collapsing, they were doing a public service because the sooner this growing cancer — a fraud from day one – gets stopped the better for all of us,” he added. 

On the other hand, John Deaton and several others questioned Kevin O’Leary’s involvement in FTX’s bad dealings, considering that he found no faults in Sam Bankman-Fried’s action. 

Read Also: Do Kwon Accuses FTX Founder of Manipulating Terra (LUNA) and UST Prices, Others Share Evidence

“I just saw Kevin O’Leary’s utter disgrace of an answer on why FTX failed. He literally blames the entire collapse on CZ Binance and doesn’t once say SBF is to blame, even though he just got indicted on 8 counts and is the biggest fraud since Madoff,” Deaton tweeted. 

I think it’s quite obvious that Kevin is much deeper into this thing with #SBF to be desperately trying deflect the attention https://t.co/vj9j7aVNDy

— TradersApprentice (@Trader4lyf) December 15, 2022

The post Kevin O’Leary Blames CZ Binance for FTX Collapse, Ripple CTO and John Deaton Reacts appeared first on Times Tabloid.

According to a letter from the Office of the Attorney General on the 12th of December, Bankman-Fried, who is also the founder of Alameda Research, was apprehended by the Royal Bahamas Police Force following formal notification from the United States that it has filed criminal charges against him.

Read Also: Do Kwon Accuses FTX Founder of Manipulating Terra (LUNA) and UST Prices, Others Share Evidence

Going by the statement of Prime Minister Philip Davis, the Bahamas and the United States have “a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law.”

USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.

US Attorney SDNY said in a tweet moments ago, “USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.”

USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.

— US Attorney SDNY (@SDNYnews) December 12, 2022

On the 10th of December, Bloomberg reported that prosecutors from New York, FBI agents, and other regulators met with FTX’s lawyers to discuss the documentation investigators want to obtain. It’s also said that the Justice Department was carefully investigating whether FTX improperly moved hundreds of millions around the same time as the firm declared bankruptcy.

Follow us on Twitter, Facebook, Telegram, and Google News

The post Just In: FTX Founder Sam Bankman-Fried Arrested, Set for Extradition to US appeared first on Times Tabloid.