Crypto Crash
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Sam Bankman-Fried consents to extradition, taken to the US by law enforcement
•FTX’s founder Sam Bankman-Fried is being extradited to the US. While his lawyers are trying to arrange bail, things aren’t looking good. If convicted, SBF could spend the rest of his life in prison
Associates of FTX co-founder Sam Bankman-Fried plead guilty to criminal charges
•Two of Sam Bankman-Fried’s closest associates have pleaded guilty to a number of criminal charges, in a plea bargain which would make them testify against FTX co-founder. The 30-year-old could spend the rest of his life in jail if convicted.
Chaos ensues at Sam Bankman-Fried’s extradition trial, FTX-founder sent back to Bahamian jail
Fp Staff •FTX’s Sam Bankman-Fried had earlier said he would fight extradition to the US. However, he took everyone by surprise when he told the Bahama court that he won’t be fighting extradition. His lawyer interject saying he wasn’t aware of this, and that SBF may have been coerced.
FTX's Sam Bankman-Fried arrested from the Bahamas after the US filed criminal charges
•Bankman-Fried was one of the world's wealthiest people on paper, with an estimated net worth of $32 billion. FTX grew to become the second-largest cryptocurrency exchange in the world. SBF is accused of using its customers' deposits to cover bad bets at that SBF made on Alameda.
FTX Founder Sam Bankman-Fried to face inquiry by US prosecutors for theft and market manipulation
Fp Staff •FTX, which was valued at $32 billion at its peak, filed for bankruptcy protection last month after the collapse of an acquisition deal involving rival exchange Binance prompted billions in withdrawals from customers.
Explained: 5 Reasons why Bitcoin and other massive cryptocurrencies are crashing so badly
Fp Explainers •The crash that major cryptocurrencies like Bitcoin and Ethereum have seen in the month of June has been worrisome even for long-term investors. The global crypto-market has shrunk from $1.02 trillion to $983.72 billion, an 11 per cent decrease. We see why the crypto markets have crashed this badly.