Justice Dept defends motion to bar SBF from accessing FTX, Alameda assets

In a Jan. 2 email to FTX CEO John Ray, Sam Bankman-Fried offered to meet in New York City around the time he was to appear in court and enter the plea in his criminal case.

United States prosecutors in the criminal case against former FTX chief executive officer Sam Bankman-Fried have released text and email messages from SBF to current CEO John Ray.

In court documents for the Southern District of New York released on Jan. 30, the Justice Department responded to a motion from Bankman-Fried’s legal team attempting to remove some of the proposed modifications for his bail conditions, which included barring contact with former and current FTX employees. According to prosecutors, SBF attempted to contact both current FTX CEO John Ray and FTX US general counsel Ryne Miller.

In an email to Ray on Jan. 2, Bankman-Fried said he hadn’t gotten off “on the right foot” and offered to meet the FTX CEO in person in New York City — he was allowed to leave his parents’ California home to appear in court and enter his not-guilty plea. The message followed one from Dec. 30, in which SBF cited a Cointelegraph report in an attempt to address the status of funds tied to Alameda wallets:

“I myself can’t access the funds, but I suspect that your team likely has the ability to move and safeguard these funds [...] I would be happy to talk about the ways you likely are able to access them if helpful.”

Bankman-Fried claimed in his Jan. 12 “pre-mortem overview” of FTX’s collapse that law firm Sullivan & Crowell and the FTX US general counsel pressured him into naming Ray as his successor. Ray previously responded to claims from SBF regarding FTX as the former CEO having “no ongoing role” at the firm or its subsidiaries and “does not speak on their behalf”.

Filings from Jan. 27 showed Bankman-Fried attempted to reach out to Miller, allegedly to “influence” his testimony in the criminal case. This prompted prosecutors to file a motion, amending SBF’s bail conditions to prevent contact with FTX employees and using encrypted messaging applications like Signal. The Jan. 30 filing included a proposed prohibition on SBF “accessing or transferring any FTX or Alameda assets or cryptocurrency”.

Bankruptcy proceedings for FTX are moving forward in the District of Delaware, while SBF’s criminal trial is scheduled to begin in October.

from https://ift.tt/7fpB5rs
https://ift.tt/IB4U571

Comments

DeFi isn’t dead, it just needs to fix these 3 critical problems

It’s been a rough year for DeFi, and it may not get any better until projects focus more on security, regulation and usability. The persistent challenges decentralized finance face have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi. I think DeFi today is completely broken for 99% of the population. The promise of a more transparent financial system has been overtaken by greed. UST/LUNA is just the latest in a string of bad developments: — Peter Yang (@petergyang) May 11, 2022 Let's take a look at what experts say DeFi needs to do in order to have another revival. Improved usability To date, the promise of open and uncensored access to a global decentralized financial system has been largely hampered by the complicated interface, confusing multi-step staking processes and lack of clarity surrounding the yields on various tokens. What do you thi...

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community. Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...

Institutional demand for crypto isn’t subsiding, but impact will be gradual

As another $2-trillion stimulus package looms in the U.S., institutions will continue to look at BTC as a hedge against inflation. For example, just last week, when the currency was hovering around the $30,000 threshold, a whole host of pundits was warning investors to brace for impact, suggesting that the premier crypto asset was on the verge of a correction and could once again dip to around the $20,000 region. However, in just one day, Bitcoin was once again playing with the bulls, retesting the $38,500 limit, only to witness a selloff and eventually settle around the $33,500 region. While for most crypto veterans that might have been another day at the office, others branded the upsurge as “Elon’s Candle,” which relates to Elon Musk, the CEO of Tesla, who included “Bitcoin” in his Twitter bio as well as sent out the following cryptic message “in retrospect, it was inevitable” to his 40 million-odd followers online. Regardless of the cause, has the recent price volatility sca...

Crypto Coin Search

Search This Blog