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Former crypto billionaire uses mackerel as currency in jail
Sam Bankman-Fried has been using mackerel as currency at a detention center. The former FTX founder has been in jail since a federal judge revoked his bail in August. Mackerel has replaced cigarettes as the favored jailhouse currency after officials banned smoking in 2004.
Sam Bankman-Fried is forced to trade dried MACKEREL for a haircut in prison, as he awaits sentencing... Disgraced FTX founder is trading $1 packs of dried fish in exchange for services at Brooklyn's Metropolitan Detention Center. The 31-year-old is also giving out crypto trading tips to prison guards despite being responsible for the collapse of his own platform. Bankman-Fried is being held at the center pending sentencing for seven felony fraud offences following the spectacular crash of his crypto trading platform.
Sam Bankman-Fried’s Life Behind Bars: Crypto Tips and Paying With Fish | Mint FTX founder Sam Bankman-Fried has learned the fundamentals of prison economics. Mackerel packets, known as ’macks,’ are a favored jailhouse currency.
Sam Bankman-Fried Discovers New, Powerful Currency in Jail: Mackerel Sam Bankman-Fried was convicted of seven counts of fraud and conspiracy in the collapse of cryptocurrency exchange FTX. The Wall Street Journal reports that he has traded pouches of "macks" to a fellow inmate for a haircut.
Why Grayscale's Solana Trust Is Trading at a 10x Premium SOL, the native cryptocurrency of the Solana blockchain, has nearly tripled over the past month. Solana was closely associated with Sam Bankman-Fried, the founder of FTX. A conversion of GSOL into an ETF would do the same, but even faster.
Serious Crypto Warning Issued As Binance Collapse ‘Countdown’ Suddenly Begins—BNB Leads Bitcoin, Ethereum And XRP Price Lower Binance, the world's largest bitcoin and crypto exchange by volume, has been hit by a record-breaking $4.3 billion fine. One feared short seller has warned the countdown to Binance's eventual collapse has begun. The bitcoin price, double where it was when Binance rival FTX collapsed a year ago, has swung wildly since reports of the settlement.
Genesis sues Gemini over $689 million in customer withdrawals Genesis Global filed for bankruptcy in January after the collapse of key counterparties including FTX. The U.S. Securities and Exchange Commission sued Genesis, its parent company Digital Currency Group (DCG) and Gemini in January.
Bitcoin Is Up 120% This Year, Here Are Four Other Cryptos To Buy, HODL Or Sell Despite the conviction of FTX founder Sam Bankman-Fried and Binance CEO Changpeng Zhao's guilty plea, things are looking up for crypto starting with bitcoin. Adding bullish momentum is anticipation of bitcoin’s fourth halving in April. November is already tracking to be a better month for the blockchain-based digital images.
Crypto chief pleads guilty to money laundering in $4bn settlement Changpeng Zhao pleaded guilty to failing to maintain an effective anti-money laundering programme in a Seattle federal court on Tuesday. He has also agreed to pay a $50m (£39.9m) fine and step down from Binance under a broader deal to settle multiple investigations into the cryptocurrency exchange. Mr Zhao becomes the second crypto entrepreneur to see his business career end in US courts this month following conviction of former FTX chief Sam Bankman-Fried.
Founder of Binance crypto exchange admits failing to... Changpeng Zhao pleaded guilty to one count of failure to maintain an effective anti-money-laundering programme in a federal court in Seattle. The plea came as the company agreed to pay more than 4 billion dollars as part of an agreement with the US government. The charge was similar to practices uncovered after the collapse of the second largest cryptocurrency exchange, FTX, last year.
The cryptocurrency industry should use innovation to regain lost trust | Mint The fall of Sam Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX, has cast a harsh light on a largely unregulated market. Grifters and unscrupulous companies have exploited customers and investors. Redemption will also lie in making use of blockchain technology to deliver what others cannot.
The cryptocurrency industry should use innovation to regain lost trust | Mint Sam Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX, was recently convicted of fraud and money laundering in New York. Will crypto always be a magnet for fraud and malfeasance, or can it eventually transform and democratize finance?
Climate 'Enron' May Be Heading For A Crash Duggan Flanakin: Enron, FTX, and Skilling are examples of environmental fraud. He says green war on fossil fuels is perhaps history’s greatest example of philosophical fraud.
FTX founder Sam Bankman-Fried found guilty of fraud Sam Bankman-Fried found guilty on seven counts of fraud and conspiracy. Found guilty of stealing billions of dollars from accounts belonging to customers of FTX. Sentencing date will be March 28, 2024.
Accused crypto fraudster used customer funds as 'a piggy bank' FTX founder Sam Bankman-Fried has stepped down from the stand after four days of testimony in his criminal fraud trial. Closing arguments are set to begin tomorrow at 9.30am local time. Prosecutors say he used his crypto exchange, FTX, as his own personal piggy bank. He has pleaded not guilty to seven counts of fraud and conspiracy.
Bankrupt FTX Wants To Sell $100 Million Of Crypto Per Week, Will The SEC Stop It? The SEC asserts that the exchanges should fall under its regulatory purview. Current FTX leadership under CEO John Ray has recovered more than $7 billion of what was originally a missing $8.7 billion.
Lawsuit: Sam Bankman-Fried's Parents 'Exploited Their Access and Influence' to Make Big Money from FTX Joseph Bankman and Barbara Fried have maintained their son’s innocence and are helping formulate the grounds for an appeal. In early November, jurors convicted Sam Bankman-Fried of seven counts of fraud and conspiracy. Bankman became a key decision maker, FTX said, managing tax issues and advising on job hires. FTX agreed to pay Bankman a $200,000 annual salary, according to the lawsuit.
SEC Touts $5 Billion in Penalties After Year of Crypto Dragnet The SEC said Tuesday that the total penalties it won between October 2022 and Sept. 30 was the second highest amount on record. The agency said that it filed 784 enforcement actions, which represented a 3% increase from 2022. During fiscal 2023, the SEC brought a civil case against FTX co-founder Sam Bankman-Fried.
He made a massive fortune. Now he’s facing 110 years in jail FTX co-founder Sam Bankman-Fried is facing a lengthy jail term. The Moneyball author first met him when an investor friend asked him to do some due diligence on the entrepreneur.
FTX Bankruptcy Estate Files Lawsuit Seeking Recovery of Nearly $1 Billion from ByBit FTX Bankruptcy Estate Files Lawsuit Seeking Recovery of Nearly $1 Billion from ByBit. FTX bankruptcy estate has initiated legal proceedings against ByBit, its investment arm Mirana, and several executives.
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