SBF jailed, FTX partners under attack: Law Decoded By Cointelegraph
[ad_1]
The FTX affair continues to unravel. Sam Bankman-Fried, the former CEO of the failed crypto exchange, will be held in jail through the end of his two upcoming trials. Judge Lewis Kaplan ordered the revocation of the entrepreneur’s $250 million bail following The New York Times report about his alleged attempt to intimidate witnesses. Bankman-Fried faces 12 criminal charges spread across two trials scheduled to begin in October 2023 and March 2024.
Meanwhile, the wave of lawsuits has reached former partners of FTX. Eighteen leading venture capital (VC) investment firms, including Temasek, Sequoia Capital, Sino Global and Softbank (OTC:), have been named defendants in a class-action lawsuit filed in the United States District Court for the Northern District of California for their links to the exchange. The suit claims that the defendants used their “power, influence and deep pockets to launch FTX’s house of cards to its multibillion-dollar scale.”
Federal Reserve sets new rules for banks’ involvement with crypto
Jury trial for the SEC vs. suit to start in Q2 2024
Brazilian Congress votes for higher taxes on crypto
Continue Reading on Coin Telegraph
[ad_2]
Source link
The FTX affair continues to unravel. Sam Bankman-Fried, the former CEO of the failed crypto exchange, will be held in jail through the end of his two upcoming trials. Judge Lewis Kaplan ordered the revocation of the entrepreneur’s $250 million bail following The New York Times report about his alleged attempt to intimidate witnesses. Bankman-Fried faces 12 criminal charges spread across two trials scheduled to begin in October 2023 and March 2024.
Meanwhile, the wave of lawsuits has reached former partners of FTX. Eighteen leading venture capital (VC) investment firms, including Temasek, Sequoia Capital, Sino Global and Softbank (OTC:), have been named defendants in a class-action lawsuit filed in the United States District Court for the Northern District of California for their links to the exchange. The suit claims that the defendants used their “power, influence and deep pockets to launch FTX’s house of cards to its multibillion-dollar scale.”
Federal Reserve sets new rules for banks’ involvement with crypto
Jury trial for the SEC vs. suit to start in Q2 2024
Brazilian Congress votes for higher taxes on crypto
Continue Reading on Coin Telegraph
About The Author
