• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
SBF Seeks A Chance At Redemption With New Business Plan To Repay FTX Victims

SEC Charges SBF Of Allegedly Conducting Fraud Schemes

Ana N. by Ana N.
4 months ago
in Breaking News Ticker
Reading Time: 2 mins read
Advertisement
Advertisement

The crypto community was left shell-shocked in November 2022 when FTX – one of the leading crypto exchange platforms, filed for bankruptcy. Pessimism towards crypto is at an all-time high, with famous investors like Warren Buffet seemingly right about the risks involved.

Investigations into the exchange uncovered gross financial misappropriation and abuse of users’ funds. The disastrous event left many investors seething and funds lost.

Related Reading: Bitcoin Drops Below $17,000 Pre-CPI And FOMC – Scenarios To Prepare For This Week

According to reports, FTX had allegedly acted unprofessionally and blurred corporate lines between FTX and sister corporation Alameda. The firm supposedly had borrowed funds illicitly from the exchange and sparked an outcry for regulating crypto exchanges. The revelation led to a negative trend in the cryptocurrency market, with exchanges treading cautiously.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

In recent events, Sam Bankman-Fried has been arrested in the Bahamas and is facing the possibility of prosecution for fraud.

SBF Arrest And Charges

According to CNN reports, Sam Bankman-Fried, the founder and ex-CEO of FTX, was arrested in the Bahamas on Monday at his apartment. This arrest comes on the heels of criminal charges against him.

According to U.S. attorney Damian Williams, Samuel Bankman-Fried was arrested at the request of the U.S. Government. This arrest resulted from a sealed indictment filed by the SDNY.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

His arrests occurred around 6 pm ET on Monday, and he will likely face a Nassau court today, as detailed by the Royal Bahamas Police force.

The Security and Exchange Commission also stated it had created separate charges for SBF for violating securities laws.

Charges against SBF include wire fraud, security fraud, securities fraud, and money laundering.

Related Reading: Upcoming FOMC Meeting Is The Most Important Ever For Bitcoin – Watch Out For The Dot Plot

SBF faces the possibility of extradition to face his charges. According to the United States extradition treaty with the Bahamas, U.S. prosecutors can return defendants to American soil.

The condition for the extradition is that the offense must be considered punishable by at least one-year imprisonment in both countries.

SBF was to appear before the House Committee today to shed light on recent events. However, due to his arrest on Monday, the new CEO of FTX – John J. Ray III, will reveal his findings to the House.

What’s Next For FTX Token Holders?

The FTT token lost most of its value in the heat of the FTX saga that saw investors liquidate positions in droves.

It is now unclear if investors will truly get compensation for their losses. The token price has plummeted, with the SBF arrest set to unfold another chapter in this saga. The former CEO might face prosecution and possible jail time.

SBF Seeks A Chance At Redemption With New Business Plan To Repay FTX Victims
FTT continues to sink l FTTUSDT on Tradingview.com
Tags: cryptoFTTUSDTFTXSam Bankman-Fried
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Ana N.

Ana N.

Passionate Writer and Blockchain fanatic.

Related Posts

Binance Sees $218 Million In Outflows Following CFTC Lawsuit

Binance Sees $218 Million In Outflows Following CFTC Lawsuit

5 days ago
Bitcoin Price Retests $27K Following Fed Rate Decision

Bitcoin Price Retests $27K Following Fed Rate Decision

1 week ago
Uniswap UNI UNIUSDT

How Uniswap Was Deployed On The Binance Smart Chain

3 weeks ago
Bank Stocks crash as Bitcoin Rally

Bank Stocks Crash As Bitcoin Soars 17% Above $24,000

3 weeks ago
Hedera

This Hedera Network Service Is Under Attack, TVL Drops by 65%

3 weeks ago
Silvergate

Silvergate Bites The Dust, Down 35% As Crypto-Friendly Bank Ceases Operations

3 weeks ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    2 weeks ago
  • Crypto Investment for Long Term Growth in 2023

    2 weeks ago
  • 5 Cryptocurrency To Invest In 2023

    2 weeks ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • Ripple XRP Price Prediction 2023 – 2025 plus 5 Tokens...

    10 hours ago
  • Ethereum Price Prediction 2023 – Why This New Meme...

    14 hours ago
  • Discover Big Eyes Coin And Optimism As They Continue To...

    17 hours ago
  • Ethereum’s Shanghai Upgrade Goes Live April 12...

    17 hours ago
  • Metacade’s Presale Raises an Astounding $15.4m...

    19 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.