FTX News: Sam Bankman-Fried Faces Investigations Amid New Bail Restrictions
FTX News: Former FTX CEO Sam Bankman-Fried is nearing an agreement with US prosecutors on new bail conditions after Judge Kaplan asked both parties to present their proposals, said lawyers for Sam Bankman-Fried.
According to a letter filed on March 17, Sam Bankman-Fried’s lawyer Christian Everdell both parties are closed to resolution and will present the Court with a proposed order outlining new bail conditions by next week. The lawyers requested specific interim modifications to the proposed bail conditions by the U.S. DOJ prosecutors on March 3.
Sam Bankman-Fried requires access to the FTX transactional database (the “AWS Database”) provided to the defense as part of the criminal discovery, prosecutors agree with the interim modification.
DOJ proposed limiting access to digital devices by Sam Bankman-Fried, providing a flip phone and laptop with limited access to only whitelisted websites. The DOJ prosecutors earlier accused SBF of witnessing tampering after he used encrypted messaging apps and VPN to contact FTX employees and access other websites.
FTX News: New Investigations on FTX
Shareholder rights law firm Bragar Eagel & Squire P.C. on Saturday revealed that it is investigating potential claims against FTX Tokens, G-III Apparel Group, Ltd., Bright Green Corporation, and Consensus Cloud Solutions. The firm said investigations concern violation of the securities laws or engagement in other unlawful business practices by these companies.
GoinGape reported that Sam Bankman–Fried secretly transferred $2.2 billion from FTX to his personal account and five members of his inner circle took $1bn more before the crypto exchange FTX collapsed, bankruptcy court filings claim.
SBF is currently on a bond set at $250 million and his trial is scheduled on October 2. As of now, Bankman-Fried has pleaded not guilty to all counts of charges.
Also Read: 186 US Banks Face SVB Like Risk; Crypto Bull Run Ahead?
- Galaxy Digital CEO Calls Next Fed Chair Bitcoin’s Bull Catalyst, Sets $200K BTC Target
- Experts Claim Bitcoin Crash to $94,334 Ahead As BTC Dominance Rebounds
- Expert Explains Pi Network–Sign Meeting, Says It Could Trigger Binance Listing
- Is Trump Family, Mr. Beast Buying ASTER Token? Rumors Gain Strength
- Solana ETF Update: Grayscale, Fidelity, Others Files S-1 With Staking, Approval Expected in Two Weeks
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
