US Federal Government seizes 600 Million Assets from Sam Bankman-Fried



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US Federal Government seizes 600 Million Assets from Sam Bankman-Fried

The US federal government has seized $600 million in assets from Sam Bankman-Fried, the founder and former CEO of bankrupt cryptocurrency trading platform FTX. Abc news reports it. The maxi-kidnapping is part of the criminal case against the 30-year-old former millionaire accused of stealing billions of dollars from FTX clients and investors.

Bankman-Fried pleaded not guilty, but for investigators it is one of the largest thefts in American history. The former CEO of FTX was extradited last December 21 to the United States from the Bahamas where he lived in a million-dollar residence.

The maxi-kidnapping is part of the criminal case against the 30-year-old former millionaire accused of stealing billions of dollars from Ftx customers and investors. Bankman-Fried pleaded not guilty, but for investigators it is one of the largest thefts in American history.

The former CEO of FTX was extradited last December 21 to the United States from the Bahamas where he lived in a million-dollar residence.

Latests on FTX and SBF

The NYT said that Sam Bankman-Fried would use FTX's influence in the crypto space to increase interest in those cryptocurrencies, convincing other investors to buy even significant amounts.

In this way the market value was further inflated, and Alameda's balance sheet seemed healthier than it was. The one whose NYT also reports the dynamics with which prices have been inflated is Serum. Bankman-Fried has returned to updating his Twitter profile but only to share his latest story with his many followers on Substack, the newsletter he has just subscribed to.

On Substack, SBF writes a very long overview entitled FTX Pre-Mortem Overview. Sam Bankman-Fried is convinced that he is not the main cause of the collapse. Of the responsibilities he has already admitted to having them but he doesn't think they are all of him.

And he says he is ready to deprive himself of almost all of his personal assets, which at the time of maximum splendor were estimated at around 26 billion dollars, to compensate those who were involved in the FTX crash.