China News Today Official TheBitTimes.com

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In the world of technology and cryptocurrency, a world where everyone seems to be a “founder”, “leader” or “entrepreneur”,  one word that seems to persistently hover in the atmosphere is “arrogance.” It’s as if the very essence of innovation and disruption is interwoven with an air of invincibility, a sense that the old rules don’t apply to the new kids on the block. This arrogance often leads to the downfall of promising companies, and FTX, a once-prominent player in the crypto space, serves as a stark reminder of the perils of hubris. You might also like: ‘The end of the Wild West’: What awaits crypto after the Bankman-Fried’s case FTX, a cryptocurrency exchange founded by Sam Bankman-Fried and Gary Wang in 2017, rapidly rose to prominence within the crypto community. With its sleek user interface, diverse range of off

After 17 days, the fate of Sam Bankman-Fried, the founder and former CEO of FTX, hangs in the balance as his trial continues. The case has attracted a lot of attention from legal experts and observers, who have shared their varying opinions on the possible outcome. One such legal commenter is David Lesperance, managing director at Lesperance & Associates and a lawyer with over three decades of experience in finance. Lesperance told crypto.news in an interview that the prosecution has presented a strong case against Bankman-Fried. The charges against Bankman-Fried include fraud, misappropriation of customer funds, and other violations related to his role in FTX and Alameda Research.  Moreover, Bankman-Fried’s defense has adopted a novel approach, which Lesperance regards as a last-ditch effort. Arguments aiming to put the blame on Caroline Ellison, Bankman-Fried’s ex-girlfriend, and Bitcoin’s volatility have not sounded as convincing. In his testimony, Bankman-Fried feigned ign

Bankman-Fried pleaded not guilty to all seven counts of fraud charges related to the collapse of crypto exchange FTX. The ongoing criminal trial involving FTX founder Sam Bankman-Fried (SBF) will move into closing arguments on November 1.  On Day 15 of the SBF trial , lead defense attorney Mark Cohen's request for acquittal was denied by presiding judge Lewis Kaplan. Instead, the case will move to closing arguments from both sides at 9:30 a.m. ET (1:30 p.m. UTC) on Nov. 1, with all evidence discovery concluded. Attornies from both sides declined to call any further witnesses.  SBF has pleaded not guilty to all seven fraud-related charges in his criminal case, but is expected to face five more counts in a second trial scheduled to start in March 2024, including the alleged $150 million bribe of a Chinese government official. During discovery, prosecutor Danielle Sassoon presented documents, tweets, and corporate messages attesting that the crypto executive siphoned $8 billion

Sam Bankman-Fried’s trial has entered its third day, as the FTX founder is facing seven different charges of wire fraud and money laundering. After jury selection ended on day 2, both sides geared up with key witnesses to present their case.  Senior District Judge Lewis A. Kaplan is presiding over the case, and Assistant U.S. Attorney Nicolas Roos is leading the prosecution. The defense is being led by Mark Cohen.  So far, three witnesses have been questioned and cross-examined. However, more than 22 key witnesses are set to appear throughout this trial, and some of them are close friends and colleagues of Bankman-Fried.  Let’s take a brief look at who these witnesses are and how they are related to this historic trial .  Adam Yedidia A close college friend of Sam Bankman-Fried from their MIT days, Adam Yedidia took roles at both FTX and Alameda Research. Yedidia has been granted immunity by prosecutors, signaling his likely importance as a witness in the unfolding case. Yed

The founder of collapsed crypto exchange FTX , Sam Bankman-Fried , has been dealt another blow in court after prosecutors revealed they had obtained a recording and several notes wherein Caroline Ellison blames him for misusing customer funds. During a company-wide meeting right before the exchange went bankrupt, Ellison told employees of FTX sister firm Alameda Research that “Alameda will likely wind down once we can, like, repay all of our creditors and sort of wind down a bunch of our, like, whatever remaining obligations we have.” “I guess, mostly I wanna say, like, I’m sorry. This really sucks.” “Definitely feel free to take a break,” she told the team, explaining that anyone was free to leave. “I guess for people who do stick around, I think it’s, like, possible that there might be some kind of future thing. “ According to federal prosecutors, one employee asked Ellison who was responsible for using FTX customer deposits. “Um… Sam, I guess,” she replied. The latest on Sa