NY - Samuel Bankman-Fried (FTX), Alleged Fraud, Money Laundering, Bahamas, 2019-2022 *Arrest*

[Countem]

SBF has made another blog post, fwiw.

FTX US Balance Update 2023-01-17

Summary Today (January 17th, 2023), Sullivan & Cromwell (S&C) released some more information about FTX US. Some of this information was extremely helpful. They gave substantially more information on the assets that FTX US holds! Some of what S&C released is extremely misleading. In particular, they

sambf.substack.com

https://twitter.com/i/web/status/1615555252962627584

 

[Gemmie]

SBF has made another blog post, fwiw.

FTX US Balance Update 2023-01-17

Summary Today (January 17th, 2023), Sullivan & Cromwell (S&C) released some more information about FTX US. Some of this information was extremely helpful. They gave substantially more information on the assets that FTX US holds! Some of what S&C released is extremely misleading. In particular, they

sambf.substack.com

https://twitter.com/i/web/status/1615555252962627584

Dude needs to learn to stop talking (that includes posting). And his Twitter image looks like a toned down version of him. He must have asked Zuck to make him an AI image that made him look good. "Trim my hair a bit and trim my weight while you're at it". lol

 

[IQuestion]

The collateral damage of FTX collapse continues. Crypto firm Genesis (run by Winklevoss brothers/twins) literally reduced their wealth by over one billion. The amount of money that these companies had in such a short time is mind boggling.
"The contagion was so rapid that both Gemini and Genesis hired experts to guide them through a potential Genesis bankruptcy."
**Personally I have always felt "spooked" by crypto. Just too volatile for me.

Why the Winklevoss brothers are in a $900 million crypto faceoff with Barry Silbert

Digital Currency Group's Barry Silbert and Cameron Winklevoss have been engaged in a public war of words over the fate of $900 million.

www.cnbc.com

The Winklevoss twins are in another mess—and it has to do with crypto

“The idea in your head that you can quietly hide in your ivory tower and that this will all just magically go away, or that this is someone else’s problem, is pure fantasy,” Cameron Winklevoss wrote to former friend Barry Silbert.

fortune.com

 

[IQuestion]

Dude needs to learn to stop talking (that includes posting). And his Twitter image looks like a toned down version of him. He must have asked Zuck to make him an AI image that made him look good. "Trim my hair a bit and trim my weight while you're at it". lol

GEMMIE, I agree he probably should not be trying to show the world now, how clever he is at keeping track of bank balances! Uh, maybe he should have been doing that when he ran the company? And probably not a good idea to claim SEC is providing misleading information to the public, either. Oh geesh, talk about kicking the hornet's nest.

 

[Countem]

FTX token jumps after CEO says 'viable business' could emerge from bankruptcy

FTT, the token associated with bankrupt crypto exchange FTX, was rallying on Thursday after comments from its bankruptcy-era CEO John Ray III suggested an operational version of the exchange could emerge from bankruptcy.

finance.yahoo.com

FTX's CEO, John Jay Ray III, said Thursday he's open to reviving the bankrupt exchange if the move provides a pathway to return money to the crypto trading venue's customers and other creditors.

 

[Gemmie]

the Bankman-Frieds had a security incident at their home when a black car drove into the metal barricade set up outside their home. Three men got out of the car. When the security guard on duty confronted them, the men said something to the effect of: “You won’t be able to keep us out.” The men got back in the car and quickly drove away before the security guard was able to see the license plat

https://www.cnn.com/2023/01/19/business/ftx-sbf-parents-home-security-incident/index.html

 

[watergirl62]

the Bankman-Frieds had a security incident at their home when a black car drove into the metal barricade set up outside their home. Three men got out of the car. When the security guard on duty confronted them, the men said something to the effect of: “You won’t be able to keep us out.” The men got back in the car and quickly drove away before the security guard was able to see the license plat

https://www.cnn.com/2023/01/19/business/ftx-sbf-parents-home-security-incident/index.html

"You won’t be able to keep us out.”

Was this a staged incident or a real threat?

 

[Countem]

Sam Bankman-Fried and FTX's new CEO trade attacks on asset recovery: 'He thinks everything is one big honey pot'

The new FTX chief also said he's open to rebooting the collapsed crypto exchange and resuming operations if that creates more value for customers.

markets.businessinsider.com

Sam Bankman-Fried has serious beef with FTX's new boss, John Ray III

Insider's Phil Rosen breaks down the latest barbs between Sam Bankman-Fried and FTX's new leadership.

www.businessinsider.com

Interesting documentation of the continued back-and-forth between the new FTX CEO and SBF.

 

[Gemmie]

"You won’t be able to keep us out.”

Was this a staged incident or a real threat?

Could go either way in my mind.

Real - People lost a LOT of money and are pissed.

Staged - He likes drama and all eyes on him. Not to mention his name coming out of everyone's mouths.

MOO

 

[Countem]

Nearly $700M seized by US from FTX founder Sam Bankman-Fried: Officials

The federal government has seized nearly $700 million from FTX founder Sam Bankman-Fried since his alleged fraud was uncovered last year.

www.washingtonexaminer.com

The federal government has seized nearly $700M in assets from SBF.

A majority of the funds, around 55 million shares worth $525 million, were taken from the cryptocurrency and stock trading platform Robinhood. The authorities also recovered more than $170 million in cash from several bank accounts, according to a court filing published on Friday.

You can read the full court filing by clicking “court filing” in the article.

 

[Gemmie]

• Financial documents that were mistakenly uploaded from bankrupt crypto firm BlockFi show a $1.2 billion relationship with FTX and Alameda Research.
• The presentation, assembled by M3 Partners, offers a previously unseen overview of BlockFi’s balance sheet.

BlockFi secret financials show a $1.2 billion relationship with Sam Bankman-Fried's crypto empire

Financial documents that were mistakenly uploaded from bankrupt crypto firm BlockFi show a $1.2 billion relationship with FTX and Alameda Research.

www.cnbc.com

 

[Countem]

Sam Bankman-Fried gave $400 million to an obscure crypto-trading firm cofounded by a Jane Street trader just 2 years out of college, report says

Modulo Capital operated out of the same luxury Bahamas resort where Sam Bankman-Fried lived. Like SBF, its cofounders used to work at Jane Street.

www.businessinsider.com

• Sam Bankman-Fried sent $400 million to Modulo Capital, an obscure crypto trading firm [in the third and fourth quarters of 2022].
• One of the founders was once romantically involved with Bankman-Fried, per the New York Times.
• Another, the Times said, was just two years out of college.

Modulo's founders have not been accused of any wrongdoing, but recently hired a criminal defense lawyer who is a former director of enforcement for the CFTC, the Times reported.

 

[Countem]

Prosecutors seek to cut off Sam Bankman-Fried’s access to FTX employees amid trial

Prosecutors are seeking to block former FTX CEO Sam Bankman-Fried from contacting any of his company's current or former employees without a lawyer present.

www.foxbusiness.com

The Justice Department is seeking to ban former FTX founder Sam Bankman-Fried from contacting any of the company's employees in an effort to protect potential witnesses […] after alleging that Bankman-Fried had spoken with an FTX employee who may serve as a witness[, the General Counsel for FTX US], The Wall Street Journal reported.

 

[Countem]

SBF's lawyer asked the judge to let the disgraced FTX founder access the company's assets and crypto

Sam Bankman-Fried wants a federal judge to give him access to assets and cryptocurrency owned by FTX, which he was barred from as a bail condition.

www.businessinsider.com

 

[Countem]

Sam Bankman-Fried's bond guarantors should be public, judge says

Sam Bankman-Fried’s bond guarantors should be named publicly, a federal judge ruled Monday after news organizations objected to the names being redacted.

abcnews.go.com

Sam Bankman-Fried's bond guarantors should be named publicly, a federal judge ruled Monday after news organizations objected to the names being redacted.

This will certainly be interesting. The ruling is pending until February 7 for appeal.

 

[IQuestion]

Sam Bankman-Fried's bond guarantors should be public, judge says

Sam Bankman-Fried’s bond guarantors should be named publicly, a federal judge ruled Monday after news organizations objected to the names being redacted.

abcnews.go.com

This will certainly be interesting. The ruling is pending until February 7 for appeal.

Any guesses on the identity of "friends?" I seem to remember $200K and $500K being the amounts "friends" posted towards bail.
.... not unusual for devoted friends to help a pal. By the same token (pardon the pun) there may be other motivations.
And as for the 3 men dressed in black, attempting to storm a residence in an upscale neighborhood with CCTV on every gate, in broad day light, stopping at the make-shift barriers screaming "You can't keep us out!" and security guard unable to get the license plate number??? BIG EYE ROLL FOLKS!! Definitely comical.
Sounds more like paparazzi-types hoping for some pics. Of course, in my opinion.

 

[Countem]

Any guesses on the identity of "friends?" I seem to remember $200K and $500K being the amounts "friends" posted towards bail.
.... not unusual for devoted friends to help a pal. By the same token (pardon the pun) there may be other motivations.
And as for the 3 men dressed in black, attempting to storm a residence in an upscale neighborhood with CCTV on every gate, in broad day light, stopping at the make-shift barriers screaming "You can't keep us out!" and security guard unable to get the license plate number??? BIG EYE ROLL FOLKS!! Definitely comical.
Sounds more like paparazzi-types hoping for some pics. Of course, in my opinion.

There are theories out there about who the individuals are (from family to friends to business associates), but there have been no names published by the media at this point.

 

[Countem]

https://www.cnn.com/2023/02/01/business/sbf-bail-witness-tampering/index.html

Judge LK said Bankman-Fried is not allowed to contact current or former employees of FTX without attorneys present, nor to communicate over encrypted messaging apps until Kaplan hears arguments from both sides at a hearing next week.

 

[Countem]

Time for a little news catch-up!

This is the NYP, fwiw. Interesting connections, if accurate.

The curious case of FTX VIPs

David Boies is no stranger to quandary or controversy. In fact, over his long legal career he always seems to be courting it. You might recall how the 81-year-old super lawyer argued famously…

nypost.com

Interesting article describing the legal battle this upcoming week on who will be leading investigation(s) into FTX.

FTX’s Ray, Battling To Avoid Outside Probe, Faces Court Bout With Trustee

Justice Department’s Varda wants a “neutral, disinterested examiner” to “untangle the mess.”

www.forbes.com

Bahamas Opposition is calling for a committee to analyze exactly what happened with FTX and the Bahamian government.

Bahamas Opposition wants select committee established to deal with FTX

Bahamian Opposition Leader, Michael Pintard is calling for the establishment of a select committee of Parliament to deal with FTX.

www.caribbeannationalweekly.com

SBF-owned Emergent Fidelity Technologies (where SBF held his now-seized 56M shares of Robinhood stock) has filed for bankruptcy.

Sam Bankman-Fried's Emergent Fidelity Technologies Files for Bankruptcy

Emergent is owner of 56 million shares of online brokerage Robinhood.

www.coindesk.com

Washington property owned by SBF’s brother’s nonprofit is pulled from the market after allegations property was purchased with stolen FTX customer funds.

Washington Property Linked to FTX Customer Funds Pulled From Market

A Capitol Hill townhouse that FTX’s new management believes was bought with customer funds had been listed for about $3.3 million.

www.wsj.com

 

[meanmaryjean]

There's not a spreadsheet in the world.can keep track of all this convoluted mess!