SBF pleads not guilty, crypto layoffs, and bank run on Silvergate: Hodler’s Digest, Jan. 1-7
Cointelegraph
Published Jan 07, 2023 03:58PM ET
Updated Jan 07, 2023 04:20PM ET
Former FTX CEO Sam Bankman-Fried (has pleaded not guilty to all charges related to the collapse of the crypto exchange, including wire fraud and securities fraud. He faces eight criminal counts, which could result in 115 years in prison if convicted. Furthemore, a petition has been filed by Bankman-Fried’s legal team asking a court to redact and not disclose certain information on individuals acting as sureties for his $250-million bond, alleging threats against his family.
h3 US Feds put together FTX task force to trace stolen user funds/h3A task force organized by the Southern District of New York has been formed to track and recover missing customer funds as well as investigate and prosecute the collapse of crypto exchange FTX. A similar effort had already been underway by FTXs new management, which hired financial advisory company AlixPartners in December to conduct asset-tracing for missing digital assets.
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Written By: Cointelegraph
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