Cryptocurrency

Bankruptcy Attorneys: Sam Bankman-Fried Ordered FTX Cronies to Program a Backdoor to Access Clients’ Funds

Sam Bankman-Fried had a “secret” $65 billion backdoor into FTX clients’ funds, attorneys claim, alleging that the disgraced FTX founder and Democrat super donor had ordered a co-founder to insert a secret backdoor into FTX code to funnel clients’ money into his hedge fund. The attorneys claim that SBF “bought planes, houses, threw parties, made political donations,” with client money.

Cryptocurrency exchange FTX, founded by former CEO Sam Bankman-Fried, owes an estimated $3.1 billion to its 50 largest creditors. Photo by Cointelegraph/Wikimedia Commons.

Disgraced FTX Founder and Democrat Super Donor Sam Bankman-Fried Asks Judge to Keep the People Paying His Bail Secret

Disgraced FTX Founder and Democrat super donor Sam Bankman-Fried, who is set to plead not guilty in a New York court on Tuesday, has reportedly asked the judge to keep his bail guarantors a secret. SBF’s lawyers argued that there is “no need for public disclosure” of who is paying to keep the crypto kingpin accused of fraud out of jail.

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Thursday, Oct. 13, 2022. This year's conference theme is "The Search for Stability in an Era of Uncertainty, Realignment and Transformation." Photographer: …

The Five Wildest Things in the FTX Bankruptcy Filing

The new CEO of FTX, John Ray, III, revealed several wild and shocking items found in the collapsed company’s bankruptcy filing, which include the founder and former CEO Sam Bankman-Fried lending himself $1 billion, and FTX corporate funds being used to buy personal homes, among other things.

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during the Bloomberg Crypto Summit in New York, US, on Tuesday, July 19, 2022. The Bloomberg Crypto Summit brings together top names from the worlds of tokens, blockchain, Web3, NFTs, decentralized finance, economics, investing, venture capital, and …