The federal indictment doesn’t identify Sam Bankman-Fried’s FTX as the pilfered company, but Bloomberg reported that’s who it was.
Sam Bankman-Fried’s cryptocurrency exchange infamously collapsed months after the commercial.
Bankman-Fried’s defense team asked for a four to six week extension for his sentencing scheduled in late March, citing a possible second trial that may begin earlier in the month.
Mike Novogratz’s firm is also interested in companies FTX invested in as a venture capital provider.
Asset values for creditor claims will be calculated at prices on the day FTX filed for bankruptcy in November 2022, the plan says.
Bankman-Fried may have been convicted, but The Bahamas appears to be dealing with the stigma of rolling out a red carpet for FTX.
The FTX estate says the funds were “preferentially” or “fraudulently” transferred to Bybit and affiliates in the lead-up to its November 2022, bankruptcy filing.
Jon Corzine and Sam Bankman-Fried were both politically-connected business leads who lost over $1 billion in customer funds, though their different outcomes shows that regulation does not always achieve what is promised. (Wikimedia Commons/CoinDesk)
Solana price (CoinDesk)