Tag Archives: Sam

Apple (AAPL) has long avoided the government-induced antitrust headaches now plaguing Big Tech rivals like Amazon (AMZN), Google (GOOG, GOOGL), and Meta (META). Until now. The Justice Department is reportedly in the final stages of deciding whether to wage a sweeping legal attack on Apple that could compound headwinds already picking up steam for the world’s most valuable company in a rough start to the new year. According to the New York Times, US antitrust investigators are wrapping up a… Source link

Sam Bankman-Fried pleaded not guilty to eight different counts of wire fraud, securities fraud, and conspiracy before a U.S. federal court in the Southern District of New York on Tuesday. U.S. prosecutors allege that under Bankman-Fried’s direction, FTX, once considered one of the largest and most-trusted cryptocurrency exchanges, transferred billions in customer assets to his trading firm, Alameda Research. If convicted of these charges, Bankman-Fried faces up to 115 years in prison. A trial… Source link

Caroline Ellison hasn’t been heard from in public since Sam Bankman-Fried was arrested in the Bahamas.MARIO DUNCANSON / Contributor/ Getty Images/ Caroline Ellison’s Twitter Former Alameda CEO Caroline Ellison isn’t named in prosecutors’ charges against Sam Bankman-Fried But the SEC’s civil suit references her statements on the relationship between FTX and Alameda. Conspiracy charges and civil claims against SBF show others in the crosshairs, legal experts said. As Sam Bankman-Fried was taken… Source link

Bahamian authorities arrested former FTX founder and CEO Sam Bankman-Fried Monday evening. The development comes the day before Bankman-Fried had agreed to testify before the U.S. House Financial Services Committee regarding the collapse of his Nassau-based exchange. According to a statement shared by the Bahamian Office of the Attorney General & Ministry of Legal Affairs, the Royal Bahamas Police detained Bankman-Fried following receipt of formal notification from the United States it has… Source link

FTX founder Sam Bankman-Fried will need to walk a legal tightrope on Tuesday to ensure that his scheduled testimony before the House Financial Services Committee steers clear of suggested wrongdoing. And one legal expert says he’ll be listening for Bankman-Fried to explain what he knew about the company’s financial moves and corporate governance failures while serving as its CEO. “I’d want to go through the chain of events that led to the bankruptcy, so there’d be a chronological,… Source link

In a nearly 90-minute interview at the New York Times Dealbook Summit on Wednesday, disgraced FTX cofounder and former CEO Sam Bankman-Fried said he “didn’t try to commit fraud” as his crypto empire collapsed in a matter of days earlier this month. Speaking with Andrew Ross Sorkin remotely from the Bahamas, Bankman-Fried, known as SBF in the crypto world, stated: “I did not knowingly commingle funds” between FTX and the trading firm Almadea Research, which he also co-founded. In his first… Source link

The entire team behind the FTX Future Fund, the Sam Bankman-Fried philanthropy, has resigned in the wake of FTX’s unraveling, leaving many grants unfunded. “We are now unable to perform our work or process grants, and we have fundamental questions about the legitimacy and integrity of the business operations that were funding the FTX Foundation and the Future Fund,” the team wrote in an open letter published online Thursday. “As a result, we resigned earlier today.” The FTX Future… Source link

Sam Bankman-Fried.Craig Barritt/Getty Images for CARE For Special Children Sam Bankman-Fried transferred at least $4 billion in FTX funds to Alameda Research earlier this year, sources told Reuters. The money included customer funds as well as those backed by FTX’s native token FTT and shares in Robinhood.  The Wall Street Journal reported FTX lent more than half of its $16 billion in customer funds to Alameda in total. Sam Bankman-Fried transferred at least $4 billion from FTX to Alameda… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, November 10, 2022 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with Yahoo Finance App. Cryptocurrency crashed on Wednesday, with most coins and tokens plummeting to multi-year lows. Bitcoin has lost one quarter of its… Source link

The Carolina Panthers appeared to settle their quarterback situation when they traded for Baker Mayfield. But since dealing for the formerly disgruntled Cleveland Browns signal caller, they’ve maintained that he’ll engage in an open competition with incumbent Sam Darnold. On Saturday, head coach Matt Rhule revealed the earliest date he anticipates naming a starter. Check in with him after the Patriots game. “I’m not putting a timetable on the quarterback position until after we get back from… Source link