Tagged: sam bankman-fried

Here is Senate Banking Committee Letter Telling Sam Bankman-Fried to Attend Hearing on December 14th

Last Friday, the Senate Banking Committee issued a statement as to whether or not, Sam Bankman-Fried will attend a Hearing on the FTX disaster and ensuing bankruptcy filing. The hearing is scheduled for next week on December 14, a day after the House Committee on… Read More

Sam Bankman-Fried Commits to Testifying on FTX in Front of House Financial Services Committee, New CEO John J. Ray, III on List Too

Sam Bankman-Fried, founder and former CEO of FTX – the now bankrupt crypto exchange, has committed to testifying in front of the House Committee on Financial Services to discuss the collapse of FTX and affiliated entities. The agreement to testify came today following a back… Read More

Representative Maxine Waters Returns to Twitter, Telling Sam Bankman-Fried it is “Imperative” He Testifies at Hearing on FTX Collapse

Representative Maxine Waters, Chair of the House Committee on Financial Services, returned to Twitter to prod Sam Bankman-Fried to testify in front of a Committee hearing next week on the FTX bankruptcy. Earlier this month, Chair Waters invited Bankman-Fried to testify via Twitter. Bankman-Fried responded,… Read More

Fintech Executive: Sam Bankman-Fried and FTX Will Go Down in History as a Fraud Larger than Bernie Madoff

The failure of FTX and the allegations of fraud pointed at founder and former CEO Sam Bankman-Fried continue to garner much coverage in both traditional media as well as more modern digital news providers. The speed of the collapse, and the amount of funds involved… Read More

Little New Information Derived from Senate Agriculture Committee Hearing on FTX

Last week, the Senate Agriculture Committee, which has oversight of commodities markets, held a hearing on the collapse of FTX, once an inside-the-beltway darling, today a virtual pariah as policymakers rush to react to the bankruptcy of the crypto exchange. Before the crypto exchange went bust,… Read More

Sam Bankman-Fried Agrees to Testify in Front of House Committee, Depending on How Things Go Before the 13th

Sam Bankman-Fried, the former CEO of bankrupt crypto exchange FTX, has agreed to testify in front of the House Committee on Financial Services contingent upon what happens from now until December 13th – the day the hearing is scheduled. As was previously reported, the Chair… Read More

FTX: Representative Maxine Waters Invites Sam Bankman-Fried via Twitter to Testify in Front of House Committee on Financial Services

Representative Maxine Waters, the Chair of the House Committee on Financial Services, has Tweeted asking Sam Bankman-Fried, former CEO and founder of FTX, to testify in front of her Committee this month. Bankman-Fried has been making the PR rounds in the wake of the collapse… Read More

FTX Resumes Payments of Employees, Meanwhile Sam Bankman-Fried Keeps Telling People He is Still Looking for a Bailout

According to bankruptcy managers, FTX and most of its subsidiaries are resuming ordinary course payments of salary and benefits to employees worldwide as well as payments to certain non-US contractors and service providers. New FTX CEO John J. Ray III said: “With the Court’s approval… Read More

Lessons Learned from the FTX Collapse: Congressional Committees Plan Hearings on FTX Collapse, Bahamas Defends its Actions

The US Senate Committee on Agriculture, Nutrition, and Forestry will hold a hearing titled “Why Congress Needs to Act: Lessons Learned from the FTX Collapse.”  The Committee has oversight of FTX due to the fact that certain crypto assets are regulated by the Commodities Futures Trading Commission… Read More

Sam Bankman-Fried Email to Former Coworkers Distributes Online, Apologizes for Collapse of FTX

Sam Bankman-Fried, the disgraced former CEO and founder of FTX, has been spending recent days apologizing for his mismanagement of the firm on Twitter. Yesterday, an apparent email distributed by Bankman-Fried was shared on the internet, credited to Coindesk. In the email, Bankman-Fried apologized once… Read More

Sequoia Tells Investors They Are Sorry for Bad FTX Investment: Report

Sequoia, one of the most prominent VC firms in the world, has apologized to its backers for the investment they made in FTX. As was previously reported, once the wheels fell off of FTX, Sequoia wrote its investment down to zero – a potential $150… Read More

Senator Josh Hawley Sends letter to AG, SEC and CFTC Demanding Correspondence with Democrat Party Pertaining to FTX Failure

Senator Josh Hawley has sent a letter addressed to Attorney General Merrick Garland, Securities and Exchange Commission (SEC) Chairman Gary Gensler, and Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, demanding all correspondence between the three federal entities and the Democrat party. Following the bankruptcy of FTX –… Read More

New FTX CEO Comments on Sam Bankman-Fried’s Tweet Threads: “Does not speak on their behalf “

Sam Bankman-Fried, the disgraced founder and former CEO of FTX, continues to prostrate himself on social media – admitting he has made a huge mess of things. Bankman-Fried, while expressing his contrition, continues to believe he may be able to re-animate the collapsed firm. New… Read More

House Committee on Financial Services Schedules Hearing on FTX Disaster

The House Committee on Financial Services has announced a hearing on the failure of FTX and its affiliated entities. The announcement was bipartisan in nature as the current Chair of the Committee, Maxine Waters, was joined by Ranking Member Patrick McHenry in announcing the hearing… Read More

FTX Bankruptcy: Possibly More than One Million Creditors

An initial filing pertaining to the Chapter 11 filing for FTX and affiliated firms has surfaced today. Filed yesterday by new leadership at FTX to manage the bankruptcy proceedings, the document notes there are over 100,000 creditors with claims – a number that can balloon… Read More

Former SEC Counsel on FTX Failure: “We are talking about fraud with a capital F”

The bankruptcy of FTX and many of its affiliated entities have pummeled all crypto markets. Many observers wonder if there is another shoe to drop. Meanwhile, crypto-associated firms continue to make announcements regarding any impact the collapse of crypto may have on their operations. It… Read More

Criticism of Sam Bankman-Fried, FTX Collapse Grows as More Details Emerge, Bahamas Announce Criminal Investigation

As details of the FTX collapse continue to emerge, criticism has turned into a pile-on in regard to Sam Bankman-Fried’s mismanagement of the crypto exchange and affiliated entities, including his hedge fund Alameda Research. Bankman-Fried is said to be in the Bahamas, where authorities are… Read More

FTX and Affiliated Companies File for Bankruptcy

In an action that should come as no surprise, FTX (International), along with its affiliated firms, including FTX.us and Alamada Research, has filed for bankruptcy protection. The news was revealed via Twitter in FTX’s main account. What was once the 2nd largest crypto exchange in… Read More

Collateral Damage: FTX Written Down to Zero, Needs $8 Billion to Fill Funding Gap, Meanwhile Sam Bankman-Fried Apologizes for Spectacular Debacle

Some observers believe that the potential collapse of FTX will be the death knell of crypto markets. The lack of regulation, a failure of management, and the destruction of investor trust have impacted the entire crypto industry. FTX CEO Sam Bankman-Fried, once the darling of… Read More

Binance Backs Out of Acquiring FTX, Points to Reports Regarding “Mishandled Customer Funds”

A Fox news correspondent is reporting that Binance has decided purchasing FTX is not a good idea and has declined to acquire the crypto exchange after it got a view of its books. Eleanore Terrett of Fox was first with the news quoting Binance Chief… Read More

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