Cryptocurrency News Official TheBitTimes.com

FTX founder Sam Bankman-Fried testified before Judge Kaplan and a jury in a New York federal court claiming his team sometimes made decisions out of his purview and against his instructions. Following a fraught mock testimony for Bankman-Fried, Judge Lewis A. Kaplan of the Southern District of New York ruled to allow FTX’s data retention policy during cross-examination.  The policy was supposedly drafted by the defendant’s general counsel Daniel Friedberg and speaks to the Signal auto-delete feature used by Bankman-Fried’s companies for internal communications, per InnerCityPress. The FTX founder fielded an advice-of-counsel defense built around shifting blame to his legal representatives at the time. It’s unclear if this strategy will ultimately yield Bankman-Fried a not guilty verdict. VLOG III Oct 27: After Sam Bankman-Fried on stand from 9:30 to 4:30, passing the buck to Caroline and dissing the (KC) Royals. Inner City Presss live tweeted, here: https://t.co/1xkZg...

Bloomberg is set to debut a documentary called “Ruin” on Oct. 25 via Bloomberg Television. The film delves into the story of FTX, a cryptocurrency exchange founded by disgraced Sam Bankman-Fried. It explores FTX’s journey to prominence, showcasing its innovative strategies, tactics, and eventual downfall.  FTX’s rise and downfall “Ruin,” a feature documentary produced and narrated by Bloomberg journalists, recounts the events leading to FTX’s downfall and Bankman-Fried’s role in the crisis. When Bankman-Fried left the Wall Street firm Jane Street Capital to launch FTX in 2019, he grew the cryptocurrency exchange into one of the world’s largest. However, in late 2022, FTX and its sister firm, Alameda, faced a major crisis. Both companies went bankrupt due to a significant shortfall in customer funds.  Last December, Bankman-Fried was arrested in the Bahamas over allegations of wire fraud and conspiracy to commit money laundering. C...

Join Our Telegram channel to stay up to date on breaking news coverage When Brett Vincent made a roughly $200,000 investment in cryptocurrencies through a person he befriended on LinkedIn in the fall of 2021, promised profits of up to 20%, he had little knowledge of the technology. Just a few weeks later, the 46-year-old logistics manager outside of Memphis discovered what a costly error he had made when his crypto investment account was frozen. Since then,Vincent has been playing catch-up. His later investigation discovered that tens of thousands of people were conned by the crypto currency investment scheme that got him. Experts estimate that it has cost them billions of dollars, far exceeding earlier projections from federal agencies. According to a recent research that digital asset intelligence company Inca Digital made, victims lost more than $500 million on only one of the three blockchains targeted by con artists in the final nine months of 2022 alone. Ian Schade, a ...