FTX founder Sam Bankman-Fried diverted customer funds “from the start” of his cryptocurrency exchange to support his hedge fund, the SEC alleged in a lawsuit
Sam Bankman-Fried was arrested in the Bahamas on Monday, a day before he was expected to testify on the sudden collapse of FTX before the House Committee on Financial Services. WSJ’s Alexander Saeedy explains what to expect during the hearing. Illustration: Jacob ReynoldsFTX founder Sam Bankman-Fried diverted customer funds from the start of his cryptocurrency exchange
, Alameda Research, and to make venture investments, real-estate purchases and political donations, the Securities and Exchange Commission alleged in a lawsuit filed Tuesday.into FTX. U.S. investors contributed $1.1 billion of that total. Mr. Bankman-Fried also failed to disclose special treatment that FTX gave to Alameda on its platform, and financial risks posed by the relationship between the exchange and the hedge fund, the SEC alleged.
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FTX ex-CEO Sam Bankman-Fried says he wants to start a new businessSam Bankman-Fried, the disgraced founder of the failed crypto-exchange FTX, says he wants to start a new business to help his investors make back the money they lost in the crash.
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Today At 11AM ET: Forbes’ Streaming Interview With FTX Founder Sam Bankman-FriedAt 11am EST Forbes will be livestreaming an interview between FTX founder Sam Bankman-Fried and Forbes Digital Assets Director of Research Steve Ehrlich. The livestream will occur less than 24 hours before Bankman-Fried is set to testify before Congress.
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Today At 11AM ET: Forbes’ Streaming Interview With FTX Founder Sam Bankman-FriedAt 11am EST Forbes will be livestreaming an interview between FTX founder Sam Bankman-Fried and Forbes Digital Assets Director of Research Steve Ehrlich. The livestream will occur less than 24 hours before Bankman-Fried is set to testify before Congress.
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US lawmakers set to grill Sam Bankman-Fried on the collapse of FTX | CNN BusinessWith his vast crypto empire in ruins, Sam Bankman-Fried is preparing to be grilled by US lawmakers who are demanding answers about how his digital asset exchange, FTX, came unraveled, leaving at least a million customers unable to access their funds.
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Ex-FTX CEO Sam Bankman-Fried says he will testify remotely before House committeeDisgraced former FTX chief Sam Bankman-Fried confirmed he will testify remotely on Tuesday before a House committee regarding the crypto exchange's collapse.
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