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Sam Bankman-Fried pleads not guilty in FTX fraud case; October trial set

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NEW YORK, Jan 3 (Reuters) – Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges of misleading investors in his now bankrupt cryptocurrency exchange FTX and causing billions of dollars in losses, in what prosecutors called it an “epic” fraud. He pleaded in federal court in Manhattan where he faces eight counts, including wire …

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Bankman-Fried, FTX execs received billions in hidden loans, ex-Alameda CEO says

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NEW YORK, Dec 23 (Reuters) – Sam Bankman-Fried and other FTX executives have received billions of dollars in secret loans from the crypto tycoon’s Alameda Research, the former fund chief said speculation to a judge when she pleaded guilty to her role in the collapse of the exchange. . Caroline Ellison, former managing director of …

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Facebook parent Meta to settle Cambridge Analytica case for $725 million

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Dec 23 (Reuters) – Meta Platforms Inc, owner of Facebook (META.O) agreed to pay $725 million to resolve a class action lawsuit accusing the social media giant of allowing third parties, including Cambridge Analytica, to access users’ personal information. The proposed settlement, which was disclosed in a filing in court late Thursday would resolve a …

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Core Scientific files for bankruptcy as crypto winter bites

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Dec 21 (Reuters) – Core Scientific Inc (CORZ.O)one of the largest publicly traded cryptocurrency mining companies in the United States, said on Wednesday that it had filed for Chapter 11 bankruptcy, the latest in a series of failures to hit the area. Core Scientific, based in Austin, Texas, attributed its bankruptcy to falling bitcoin prices, …

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Insurers shun FTX-linked crypto firms as contagion risk mounts

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Dec 19 (Reuters) – Insurers are denying or limiting coverage for customers exposed to bankrupt crypto exchange FTX, leaving traders and digital currency exchanges uninsured against losses from hacking, theft or lawsuits, said several market participants. Insurers were already reluctant to underwrite asset and directors and officers (D&O) protection policies for crypto companies due to …

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Exclusive: Sam Bankman-Fried to reverse decision on contesting extradition

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Dec 17 (Reuters) – Former FTX chief executive Sam Bankman-Fried is due to appear in a Bahamian court on Monday to reverse his decision to challenge his extradition to the United States, where he faces charges of fraud, said a person familiar with the matter. Saturday. The 30-year-old cryptocurrency tycoon was indicted in federal court …

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FTX founder Sam Bankman-Fried charged with fraud, denied bail

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NASSAU, Bahamas/NEW YORK, Dec 13 (Reuters) – U.S. prosecutors on Tuesday charged Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, with fraud and violating campaign finance laws and a Bahamian judge denied him bail, sending him to a local correctional facility instead. The former FTX CEO, who was arrested in the Bahamas on Monday, bowed …

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Former FTX CEO Bankman-Fried arrested in Bahamas after U.S. files charges

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Dec 12 (Reuters) – (Editor’s note: This story contains language in paragraph 18 that some readers may find offensive) FTX founder Sam Bankman-Fried was arrested in the Bahamas at the request of U.S. prosecutors on Monday, the day before he will testify before Congress about the brutal failure last month of one of the world’s …

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Exclusive: U.S. Justice Dept is split over charging Binance as crypto world falters, sources say

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Some DOJ prosecutors believe evidence justifies filing charges against executives including CEO Zhao DOJ officials have discussed possible plea deals with Binance’s attorneys Binance is under investigation for possible money laundering and criminal sanctions violations Binance says it has no insight into the “inner workings of the US Justice Department” WASHINGTON, Dec 12 (Reuters) – …

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