Features Crypto News by Thebittimes.Com

According to a filing in the Bankruptcy Court for the District of Delaware, the estate of crypto exchange FTX has settled lawsuits against the parents of its founder, Sam Bankman-Fried (SBF). According to the document, which was originally filed in February and appears to have been largely overlooked, the lawsuits have been dismissed without prejudice. Allan Bankman and Barbara Fried participated in critical aspects of the FTX business and its associated hedge fund, Alameda Research, that misappropriated funds from FTX customers. For years, Bankman and Fried’s ultimate culpability for actions related to the crimes of their son remained unknown. Today, SBF is in prison serving a 25-year prison sentence. Nevertheless, his parents remain free civilians. The US government has never publicly charged his parents for crimes. Million-dollar payments from FTX to SBF’s parents When John J. Ray III took over to clean up the FTX collapse in November 2022, a forensic Analysis ...

The crypto community rejoiced as reports about FTX ’s former chief Sam Bankman-Fried ’s arrest began surfacing. SBF was nabbed by The Royal Bahamas Police Force following criminal charges filed against him. Since this was filed by the United States, they would most likely seek his extradition. Soon after this, speculations about his prison time began surfacing. While some suggested that he would be there for good, a few others noted how he would get out sooner or later. This, however, depended on the magnitude of charges that the United States had filed against him. The New York Times reported that the FTX CEO was charged with wire fraud, wire fraud conspiracy, securities fraud, and securities fraud conspiracy as well as money laundering. JUST IN: 🇺🇸 US Government charges Sam Bankman-Fried with money laundering, wire fraud, and securities fraud, NYT reports. — Watcher.Guru (@WatcherGuru) December 13, 2022 In addition to this, the U.S. S...

A Dec 7 release from local news outlet Interfax has unveiled the Bank of Russia’s awaited stance on the crypto mining industry. Amid the country’s fresh spotlight on crypto, Russia is imposing new measures on native miners. Russia’s Crypto Mining Bill Per the report, the Russian central bank is not opposed to giving the legal green light to crypto miners. However, the institution believes miners should not be able to sell digital tokens to Russian residents. Instead, miners should trade with foreign exchanges alone. A decision that might hamper miners already stifled by sanctions on the warring country. In mid-November, the lower house of the Federal Assembly of Russia received a bill proposing the legalization of crypto mining. The bill explored a legal definition of mining as it pushed for the nation’s economy to incorporate digital assets. While the BoR has had an unfavorable view of the crypto industry thus far, they somewhat supported the draft bill. The proposal h...

Maxine Water – chairwoman of the House Financial Services Committee – is doubling down on requests for Sam Bankman-Fried (SBF) to appear on Capitol Hill.  Btc Bitcoin $17.054,29 price 1.22494% price change BUY NOW The California representative said it is imperative that he testify before congress on December 13th, despite his hesitation to do so.  On Sunday, SBF responded to Waters’ initial invitation to testify, in the spirit of assisting the now-insolvent  FTX’s customers and investors. The former CEO said he would testify once he felt he had a firm understanding of what happened at FTX. However, he wasn’t sure if that would be the case by the 13th.  Waters replied on Monday, assuring SBF that his current knowledge is evidently “sufficient for testimony.” “As you know, the collapse of FTX has harmed over one million people,” she stated. “Your testimony would not only be meaningful to Members of Congress but is also critical to ...

The whole FTX debacle put Sam Bankman-Fried, the platform’s former CEO in a negative light. With the entire ecosystem frowning upon him, SBF still decided to appear in an interview. In the interview, SBF is seen trying to defend himself by suggesting that he “didn’t try to commit fraud.” While most of them continued to call out the FTX founder, a few of them were seen extending support. As mentioned earlier, SBF apologized and revealed that he had only $100K left in his bank account with only one credit card in function. American billionaire Bill Ackman took to Twitter and suggested that FTX’s former CEO could be telling the truth. I deeply appreciate that. I messed up. I'm going to do everything I can to make it right–even though I knew it might never be enough. — SBF (@SBF_FTX) December 1, 2022 Ackman wasn’t the only one who still entailed hope on SBF . Shark Tank’s host Kevin O’Leary backed Ackman as he tweeted...

The cryptocurrency realm has been flooded with talks of FTX , Sam Bankman-Fried, Alameda , and the fall of SBF ’s empire. The FTX empire went into a death spiral after it was hit with liquidity crunches. Following the ongoing troubles, FTX filed for bankruptcy, and SBF stepped down from the CEO position. However, the trouble seems to be looping back on Bankman-Fried, as new data reveals interesting things about Alameda Research. According to WSJ, the trading firm reportedly piled on cryptocurrency tokens ahead of its listing on the FTX cryptocurrency exchange. The data is as per the Analysis of Argus, a blockchain analytics platform. JUST IN: Alameda Research purchased crypto tokens before listing them on FTX, WSJ reports. — Watcher.Guru (@WatcherGuru) November 14, 2022 Was Alameda selling after the listing to bag profits? As per the details from Argus, Alameda was holding $60 million worth of 18 different coins. These coins were announced by FTX to be l...