FTX founder Sam Bankman-Fried stepped down after losing $32Billion

[arista]

[Embattled cryptocurrency exchange FTX
has filed for bankruptcy in the US,
seeking court protection as it looks
for a way to return money to users.

Former boss Sam Bankman-Fried
has also stepped down as chief executive,
the company said.

It is a massive turn of fortunes
for the 30-year-old,
who had headed the
world's second largest crypto exchange.]

https://www.bbc.co.uk/news/business-63601213


BBC Text:
[The FT Weekend leads with the "stunning collapse"
of cryptocurrency firm FTX,
after the $32bn (£27bn) group filed for bankruptcy
in the US. The paper says
the volatile industry has been
"rocked" by the failure of the
"once high-flying" company,
with the world's most valuable
decentralised digital currency Bitcoin
dropping to a two-year low
following the news.]

https://ichef.bbci.co.uk/news/976/cpsprodpb/ACBD/production/_127612244_ft-nc.png.webp


Life In The City.

[Mystic Mock]

Can the 32Billion come to me please?:laugh:

[arista]

https://i.dailymail.co.uk/1s/2022/11/12/07/64469365-0-image-m-35_1668238579429.jpg

[$2BN of clients' money is MISSING
from collapsed crypto exchange FTX:
Founder Sam Bankman-Fried denies secretly
transferring $10BN to trading company run
by his girlfriend

FTX founder Sam Bankman-Fried allegedly
shuffled $10billion in funds to his trading firm
Alameda Research, with about $2billion now missing
Sources said that the CEO showed spreadsheets
revealing the missing funds from FTX,
which along with Alameda declared
bankruptcy on Friday
Bankman-Fried denied making the secret
transfers to his crypto trading firm,
which is run by his girlfriend, Caroline Ellison
He declined to comment about the
missing funds and said his firm had
'confusing internal labeling']

https://www.dailymail.co.uk/news/article-11419415/At-1-billion-client-funds-missing-failed-crypto-firm-FTX-sources.html

[bots]

all i know is that it tanked my crypto investments, but they were always high risk

[arista]

Friday 17/11/22 the times

https://pbs.twimg.com/media/FhzKUkqX0AAALBj?format=jpg&name=medium

[bots]

he is going to jail

[Zizu]

[Embattled cryptocurrency exchange FTX
has filed for bankruptcy in the US,
seeking court protection as it looks
for a way to return money to users.

Former boss Sam Bankman-Fried
has also stepped down as chief executive,
the company said.

It is a massive turn of fortunes
for the 30-year-old,
who had headed the
world's second largest crypto exchange.]

https://www.bbc.co.uk/news/business-63601213


BBC Text:
[The FT Weekend leads with the "stunning collapse"
of cryptocurrency firm FTX,
after the $32bn (£27bn) group filed for bankruptcy
in the US. The paper says
the volatile industry has been
"rocked" by the failure of the
"once high-flying" company,
with the world's most valuable
decentralised digital currency Bitcoin
dropping to a two-year low
following the news.]

https://ichef.bbci.co.uk/news/976/cpsprodpb/ACBD/production/_127612244_ft-nc.png.webp


Life In The City.


Have they looked for the money in one of his bank accounts ?


Sent from my iPhone using Tapatalk Pro

[arista]

Have they looked for the money in one of his bank accounts ?



Yes, it is not there

[Zizu]

Yes, it is not there


He will have stashed it somewhere , offshore
:)


Sent from my iPhone using Tapatalk Pro

[arista]

https://liveblog.digitalimages.sky/lc-images-sky/lcimg-18ca4b77-bb24-4512-8a99-4f1ffefceba6.jpeg

[arista]

BBC Text:
[The paper's main image is of Sam Bankman-Fried,
the FTX boss facing fraud charges.]

https://ichef.bbci.co.uk/news/976/cpsprodpb/80C9/production/_127996923_ft-nc.png.webp

[arista]

Update :
$250,000 Bail paid
Former FTX boss Sam Bankman-Fried will face
home detention while awaiting trial
in the US on charges that he defrauded
customers and investors of the collapsed
cryptocurrency exchange.

A US judge ordered the 30-year-old former
billionaire could be released to his parents
on a $250m bond, a day after his extradition
from the Bahamas, where FTX was based.

He is expected to enter a plea later.
Two of his colleagues pleaded guilty
to fraud on Wednesday.
They are helping prosecutors, who have accused
Mr Bankman-Friedof unlawfully using
customer deposits made at FTX to fund
his other crypto firm, Alameda Research,
buy property and make
millions of dollars in political donations.

In a press conference last week, following
his arrest in the Bahamas, federal prosecutors
in New York described it as
"one of the biggest financial frauds in US history"
announcing eight criminal charges,
including wire fraud, money laundering
and campaign finance violations. ]

https://www.bbc.co.uk/news/business-64068810

[Crimson Dynamo]

he needs to upgrade the girlfriend

[arista]

https://i.dailymail.co.uk/1s/2022/12/22/19/65861451-0-image-m-10_1671737615312.jpg

[arista]

Update:

[Sam Bankman-Fried
FTX founder Sam Bankman-Fried
charged with 12 counts in new indictment

Bankman-Fried was previously charged
with eight counts including fraud and money
laundering in FTX collapse case]

https://www.theguardian.com/business/2023/feb/23/ftx-sam-bankman-fried-cryptocurrency-exchange-charges


You Dirty Punk Criminal

[arista]

Today Sam got 25 years in Jail.

https://www.bbc.co.uk/news/live/world-us-canada-68656415


all he wants is a Laptop

[Vanessa]

25 years. Wow