Altcoin News Today TheBitTimes.com

Crypto traders are talking about SOL price falling due to the risk of FTX selling its $1.16 billion Solana stake. Are they over-exaggerating? For a long time, Solana (SOL) has been associated with the founder of now insolvent crypto exchange FTX and hedge fund Alameda Research, Sam Bankman Fried. He was an early investor in the project and invested in numerous Solana ecosystem projects during the 2020-2021 bull mania. So when FTX collapsed toward the end of 2022, Solana and other “Sam coins” plummeted significantly, falling to lows of $9.89 — down 96.3% from the peak of $259.96. Since the start of 2023, Solana’s price staged a recovery to gain 175% to reach a peak of $27.37 as the ecosystem also witnessed growth. However, more recently, SOL came under tremendous selling pressure after the Delaware Bankruptcy Court approved the sale of FTX’s digital assets, which includes 55.75 million SOL worth $1.062 million. However, the unlock schedule of FTX’s holdings and derivative market posit...

The former FTX CEO said he will be speaking at a conference by The New York Times, the same outfit that wrote the recent puff piece on Bankman-Fried. Former FTX CEO Sam Bankman-Fried has once again attracted the ire of the crypto community — this time over his slated appearance at an upcoming New York City conference on Nov. 30.  Vocal members of Crypto Twitter have questioned why the former CEO of the now-bankrupt exchange continues to walk free, given the events over the last month. In a Nov. 23 Twitter post, Bankman-Fried announced he will be speaking with The New York Times journalist Andrew Sorkin at the DealBook Summit “next Wednesday.” The news was confirmed publicly by Sorkin, who said: “There are a lot of important questions to be asked and answered. Nothing is off limits.” A lot of folks have been asking if I would still be interviewing @SBF_ FTX at the @nytimes @dealbook Summit on Nov 30… The answer is yes. There are a lot of important questions to be asked and answered. ...

FTX has taken legal action against its former CEO, Sam Bankman-Fried , and other key executives who were part of the now-bankrupt crypto exchange. The exchange aimed to recover over $1 billion in funds that were allegedly misappropriated. FTX has gained attention for its attempts to acquire funds. However, the recent lawsuit signals a change in strategy. It currently focuses on holding its former executives responsible for their alleged involvement in improper transactions. The lawsuit filed on July 20 is directed at several individuals. This includes SBF, FTX co-founder Gary Wang, Nishad Singh who was the former director of engineering, and Caroline Ellison the co-chief executive of Alameda Research LLC. The allegations center around the alleged misappropriation of customer funds. According to the lawsuit, these funds were used for personal endeavors. This included purchasing luxury condominiums, making political and “charitable” contributions, taking place in specul...

The downfall of FTX and its founder, Sam Bankman-Fried , have been a significant blow to the cryptocurrency industry. Despite the exchange’s collapse in November 2022, ongoing developments concerning SBF continue to emerge. Recently, US prosecutors announced a new charge against Sam Bankman-Fried . The charges assert that the former head of the now-defunct FTX cryptocurrency exchange was involved in a scheme to offer a $40 million bribe to officials within the Chinese government. Also read: Binance Concealed Substantial Ties to China for Multiple Years, Says Report However, according to the latest report by Reuters, SBF is expected to not plead guilty to the new charges. Sam Bankman-Fried to not plead guilty A Reuters report reveals that SBF plans to plead not guilty to the new 13-count indictment, just as he earlier pleaded not guilty to eight counts of fraud and other charges. With charges mounting one-by-one on top of SBF, it looks like he is not escaping ...

The U.S. Securities and Exchange Commission (SEC) has officially charged Sam Bankman-Fried with de fraud ing FTX investors. A report from the SEC has stated the former CEO is being charged with “de fraud ing investors in crypto asset trading platform FTX.” The news has arrived today, following previously filed charges against the co-founder of FTX in December of 2022. Conversely, today’s charges issued noted Bankman-Fried, “concealed his diversion of FTX customer funds to crypto trading firm Alameda Research while raising more than $1.8 billion from investors.” JUST IN: 🇺🇸 SEC charges SBF with de fraud ing FTX investors. — Watcher.Guru (@WatcherGuru) January 19, 2023 SEC Charges SBF The fall of Sam Bankman-Fried has been one of the most devastating in the relatively young history of cryptocurrency. The co-founder and CEO of FTX had orchestrated one of the greatest financial fraud schemes in history. Moreover, FTX deci...