FTX Sues Former Employees of Hong Kong Affiliate, Seeks $157 Million
The bankrupt crypto exchange has sued former employees of Salameda, a Hong Kong-incorporated affiliate, to recover about $157.3 million.
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Sam Bankman-Fried
The bankrupt crypto exchange has sued former employees of Salameda, a Hong Kong-incorporated affiliate, to recover about $157.3 million.
An appeals court rejected his attorneys’ attempt to free him in the run-up to the trial.
Judge Lewis Kaplan, who’s overseeing Sam Bankman-Fried’s trial, granted the U.S. Department of Justice’s motion to block all of the FTX founder’s proposed witnesses from testifying at his trial next month.
Sam Bankman-Fried, right, and his parents, Joe Bankman and Barbara Fried (Victor Chen/CoinDesk)
(Elizabeth Napolitano / CoinDesk)
Crypto exchange FTX can sell and invest its crypto holdings to pay back creditors, a judge in the U.S. Bankruptcy Court for the District of Delaware ruled Wednesday.
A federal judge refused Sam Bankman-Fried’s bid to be released from jail ahead of trial on Tuesday.
Sam Bankman-Fried (Nikhilesh De/CoinDesk)
Prosecutors say Sam Bankman-Fried used Salame as a “straw donor” to secretly funnel millions of dollars to Republican political candidates.
The 55 million HOOD shares owned by Bankman-Fried and fellow FTX co-founder Gary Wang through Emergent Fidelity Technologies.