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Sam Bankman-Fried Appeals Fraud Conviction, Prosecutors âEager for Quick Headlinesâ
Sam Bankman-Fried Appeals Conviction: Sam Bankman-Fried, founder of #FTX. has filed for a new trial, claiming he was denied a fair hearing during his initial fraud conviction.
Claim of Media Focus by Prosecutors: His legal team argues that federal prosecutors were more focused on securing quick headlines rather than ensuring justice during his trial.
Conviction and Sentence: Bankman-Fried was convicted of fraud and money laundering related to the collapse of FTX, leading to a 25-year prison sentence.
FTX Collapse: FTX, once a major #cryptocurrencyexchange , collapsed in 2022, causing billions in customer losses. Prosecutors accused Bankman-Fried of diverting funds to cover financial shortfalls in his hedge fund, #AlamedaResearch .
Allegations of Unfair Narrative: #SamBankman-Fried legal team argues the narrative presented at trial was inaccurate and new evidence shows FTX was not insolvent, with sufficient assets to repay customers.
Sullivan & Cromwell (S&C) Involvement: The filing criticizes the role of the law firm Sullivan & Cromwell, accusing them of bias and over-involvement in prosecutorial work for financial gain.
Caroline Ellisonâs Legal Situation: Caroline Ellison, former CEO of Alameda Research, is seeking leniency, with her legal team advocating for time served due to her cooperation with authorities.
Claim of Media Focus by Prosecutors: His legal team argues that federal prosecutors were more focused on securing quick headlines rather than ensuring justice during his trial.
Conviction and Sentence: Bankman-Fried was convicted of fraud and money laundering related to the collapse of FTX, leading to a 25-year prison sentence.
FTX Collapse: FTX, once a major #cryptocurrencyexchange , collapsed in 2022, causing billions in customer losses. Prosecutors accused Bankman-Fried of diverting funds to cover financial shortfalls in his hedge fund, #AlamedaResearch .
Allegations of Unfair Narrative: #SamBankman-Fried legal team argues the narrative presented at trial was inaccurate and new evidence shows FTX was not insolvent, with sufficient assets to repay customers.
Sullivan & Cromwell (S&C) Involvement: The filing criticizes the role of the law firm Sullivan & Cromwell, accusing them of bias and over-involvement in prosecutorial work for financial gain.
Caroline Ellisonâs Legal Situation: Caroline Ellison, former CEO of Alameda Research, is seeking leniency, with her legal team advocating for time served due to her cooperation with authorities.
Breaking News: Upbit temporarily suspends Aptos (APT) deposits and withdrawals for wallet system inspection, ensuring the security and integrity of the cryptocurrency platform đ§đ #cryptocurrencyexchange
Breaking News: French cryptocurrency exchange Coinhouse trims its workforce by 15% in response to the cryptocurrency bear market, with 10 out of 70 employees reportedly laid off, reflecting industry adjustments đđŒ #cryptocurrencyexchange
Breaking News: FTX creditors and debtors reach an agreement on asset recovery, with debtors proceeding with a 'shortfall claim' that guarantees 90% of distributable assets by FTX and FTX US. If approved by the court after submission by December 16th, the compensation claim size is $8.9 billion for FTX and $166 million for FTX US, with funds expected to be returned to creditors in the second quarter of next year, as announced by FTX đ€đŒ #cryptocurrencyexchange
Breaking News: BitMEX Research reports that former FTX head of engineering Nishad Singh testified that FTX lacked a clawback mechanism to resolve losses incurred by customers liquidating futures positions, requiring manual handling by executives, such as SBF and Gary Wang, when customer accounts fell into negative territory with empty insurance funds đđŒ #cryptocurrencyexchange
Breaking News: Former FTX engineering director Nishad Singh reveals in court testimony that FTX founder SBF attempted to use employees' serum (SRM) volume as collateral, suggesting efforts to inflate collateral holdings, as reported by cryptocurrency media WooBlockchain đđŒ #cryptocurrencyexchange
đš NEWS ALERT đš
Russia is gearing up to launch two government-backed #cryptocurrencyexchange , according to a report by Kommersant.
The initiative, which is a significant move in the countryâs #digitalfinance landscape, also includes plans to introduce stablecoins pegged to the Chinese Yuan and the forthcoming #BRICS currency.
#NewsAboutCrypto #CryptoNewsCommunity
Russia is gearing up to launch two government-backed #cryptocurrencyexchange , according to a report by Kommersant.
The initiative, which is a significant move in the countryâs #digitalfinance landscape, also includes plans to introduce stablecoins pegged to the Chinese Yuan and the forthcoming #BRICS currency.
#NewsAboutCrypto #CryptoNewsCommunity
đš NEWS ALERT đš
đđIn a significant market development, Crypto.com has surpassed Coinbase in trading volume, driven by growing institutional demand.
đą The surge in volume was largely fueled by new #Traditional finance (TradFi) institutions entering the market, along with the launch of the first spot Ether ETFs.
This milestone marks a notable shift in the competitive landscape of #cryptocurrencyexchange , highlighting Crypto.com's increasing appeal to institutional investors.
đŽ Key Highlights:
đ Trading Volume: #crypto.com surpasses #CoinbaseExchange. .
đ Drivers: Increased participation from TradFi institutions and the introduction of spot Ether #ETFs. .
đ Market Impact: Demonstrates the growing influence of institutional demand in the crypto market.
đą This development underscores the expanding role of traditional financial players in the cryptocurrency space, contributing to greater market liquidity and maturity.
đđIn a significant market development, Crypto.com has surpassed Coinbase in trading volume, driven by growing institutional demand.
đą The surge in volume was largely fueled by new #Traditional finance (TradFi) institutions entering the market, along with the launch of the first spot Ether ETFs.
This milestone marks a notable shift in the competitive landscape of #cryptocurrencyexchange , highlighting Crypto.com's increasing appeal to institutional investors.
đŽ Key Highlights:
đ Trading Volume: #crypto.com surpasses #CoinbaseExchange. .
đ Drivers: Increased participation from TradFi institutions and the introduction of spot Ether #ETFs. .
đ Market Impact: Demonstrates the growing influence of institutional demand in the crypto market.
đą This development underscores the expanding role of traditional financial players in the cryptocurrency space, contributing to greater market liquidity and maturity.