Developments continue in the case of FTX cryptocurrency exchange founder and CEO Sam Bankman-Fried. While the developments since the bankruptcy of the FTX exchange were followed by the whole world, prosecutors seized $ 700 million of Fried’s assets in 10 different accounts. Sam Bankman-Fried denied the charges in many of the cases in which he was tried.
$700 million from FTX founder Sam Bankman-Fried seized
Investors of the FTX cryptocurrency exchange, which went bankrupt due to the problem with Binance, were shocked. Founder and CEO Sam Bankman-Fried resigned and disappeared soon after the bankruptcy. After a while, he was caught in the Bahamas and the lawsuit process started on many different charges.
Fried, who was tried on eight different counts, denied the fraud charges. The Wall Street Journal revealed that Fried may have received more than $10 billion from FTX customers for his company.
Federal prosecutors confiscated 700 million worth of cryptocurrencies, real estate and many more assets from 10 different bank accounts in total in the case of FTX founder Fried. According to the course of the case, Fried would have lost $700 million if found guilty.
On the other hand, the new CEO of FTX stated in an interview for The Wall Street Journal that they would revive the stock market and set up a team from scratch for this. In addition, he also gave the following words on the subject:
“We are making significant progress in our efforts to maximize improvements, and it took a tremendous research effort from our team to uncover this preliminary information. We ask our stakeholders to understand that this information is only preliminary and is subject to change. We will provide additional information as soon as possible.”
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