News Explorer — Sam Bankman-Fried Used $100 Million in Stolen Cash for Political Donations, DOJ Alleges

Sam Bankman-Fried Used $100 Million in Stolen Cash for Political Donations, DOJ Alleges

The Department of Justice has alleged that Sam Bankman-Fried, the founder of FTX, misappropriated and embezzled customer funds to make over $100 million in political campaign contributions to both Democrats and Republicans ahead of the 2022 U.S. midterm elections. Bankman-Fried, who was jailed on Friday, used the funds to influence cryptocurrency regulation and continued to do so even after FTX’s collapse in November 2022. His trial is expected to start in October.

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Sam Bankman-Fried Used $100 Million in Stolen Cash for Political Donations, DOJ Alleges

The Department of Justice has alleged that Sam Bankman-Fried, the founder of FTX, misappropriated and embezzled customer… Read Summary

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Decrypt

FDIC Highlights ‘Novel and Complex’ Crypto Risks in Annual Review

The Federal Deposit Insurance Corporation (FDIC) has released a report highlighting the unique risks that digital assets… Read Summary

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The Block

Celsius Plans to Poll Customers on Its Plans: Bloomberg

Bankrupt Celsius Network LLC has received approval from U.S. Bankruptcy Judge Martin Glenn to send ballots to account ho… Read Summary

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Crypto Sleuth ZachXBT Avoids Lawsuit After Backing Off Claims Against NFT Trader

The defamation lawsuit brought against ZachXBT by Jeffrey Machi Big Brother Huang has been dropped. ZachXBT made alterat… Read Summary

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Aug 14, 11:50 am

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Institutional Investors Continue to Bet Big on XRP Following Ripple’s Partial SEC Win

Institutional investors continue to show interest in cryptocurrencies beyond Bitcoin, with Ripple’s XRP attracting signi… Read Summary

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Aug 14, 11:27 am

Reuters

Sam Bankman-Fried Needs Depression, ADHD Meds in Jail, Say Attorneys

Sam BankmanFried, the founder of bankrupt cryptocurrency exchange FTX, is requesting access to medications for depressio… Read Summary

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Aug 14, 11:12 am

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Claude AI Developer Anthropic Raises $100M From South Korean Telco Giant SK

Anthropic, an AI startup, has secured $100 million in funding from SK Telecom (SKT), a leading player in the South Korea… Read Summary

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Aug 14, 10:43 am

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Bitcoin Miner Hut 8 Shares Plummet 8% After Disappointing Q2 Revenue Figures

Hut 8, a Toronto-based Bitcoin mining firm, saw an 8% drop in its shares after reporting disappointing Q2 earnings. The… Read Summary

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Aug 14, 9:48 am

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FarmVille Creator Zynga Reveals First Ethereum NFT Game: Sugartown

Zynga, the game publisher known for popular titles like FarmVille and Words With Friends, has announced its first blockc… Read Summary

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Aug 14, 8:57 am

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Coinbase Rolls Out Crypto Services in Canada

Coinbase is expanding its presence in the North American market by launching in Canada. The exchange will offer Canadian… Read Summary

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Aug 14, 8:08 am

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HBAR Surges 16% as FedNow Adds Hedera Project Dropp to ‘Service Provider Showcase’

Dropp, a micropayments platform built on Hedera Hashgraph, has been added to the Federal Reserve’s showcase for its FedN… Read Summary

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Aug 14, 7:38 am

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Bitcoin Frontier Fund Launches Accelerator to Boost Ordinals Adoption

The Bitcoin Frontier Fund, led by Trevor Owens, has launched an accelerator program focused on Ordinals, a Bitcoin-based… Read Summary

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Aug 14, 7:04 am

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Maker Protocol Revenues Hit 2-Year High of $165M as Interest Rates Soar

The supply of DAI stablecoin has reached a 5-month high of 5.35 billion, with users like Justin Sun and OlympusDAO rushi… Read Summary

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Aug 14, 6:01 am

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MetaMask, Banxa Roll Out ‘1-Click’ Crypto Buys With Apple Pay

MetaMask users can now buy Ethereum and other cryptocurrencies using Apple Pay’s 1-click service, thanks to an updated i… Read Summary

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