Millions of dollars in political contributions have come under scrutiny after disgraced FTX founder Sam Bankman-Fried (SBF) was charged with eight counts of wire fraud, securities fraud, and conspiracy — including conspiracy to violate campaign finance laws. And according to one congressman, there isn’t much that can be been done to prevent a Sam Bankman-Fried-like character from lining the pockets of members of Congress and special interest groups. “Sadly, the answer to that question is we… Source link
Read More »SEC charges SBF with scheme to defraud investors out of $1.8 billion
Early Tuesday morning, the Securities and Exchange Commission filed charges against Sam Bankman-Fried, alleging the 30-year-old disgraced founder of FTX orchestrated a scheme to defraud the company’s equity investors. “We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto,” SEC Chair Gary Gensler said in a release. “The alleged fraud committed by Mr. Bankman-Fried is a clarion call to… Source link
Read More »SBF ‘charmed a lot of people’ — including himself: Leadership expert
Embattled FTX Founder Sam Bankman-Fried (SBF) fell victim to one of the classic mistakes often made by a leader: He believed in his own schtick. And like most toppled leaders, the 30-year-old wunderkind — and a whole bunch of blind loyalists — is paying a high price for getting carried away. “He got caught up with how great he was,” leadership expert and former Medtronic CEO Bill George said on Yahoo Finance Live. “And I don’t think he was ever there. I’ve not seen the performance at all…. Source link
Read More »What concerns about SBF looked like a year ago
This is a story about a story. A story about Sam Bankman-Fried, yes him, the now disgraced, former billionaire, founder, and CEO of crypto trading platform FTX which has just flamed out in spectacular fashion and filed for bankruptcy. You’ve probably read about Bankman-Fried — known as SBF by the cryptoscenti — and his implosion, the details of which are still unfolding. SBF hasn’t been shy about talking up his endeavors and/or giving his take, now one part apology, ten parts blame…. Source link
Read More »Michael Saylor compares SBF to ‘The Wolf of Wall Street’
Microstrategy founder and bitcoin evangelist Michael Saylor had some strong words about fallen FTX founder and one-time billionaire Sam Bankman-Fried (SBF). “I think this [crypto] crash accelerates regulatory intervention,” Saylor said on Yahoo Finance Live (video above). “I mean, in fact, in a sense, SBF is like the Jordan Belfort of the crypto era. Instead of ‘The Wolf of Wall Street,’ they’ll make a movie called ‘The King of Crypto.'” Belfort famously was found guilty of stock market… Source link
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