24/7 Cryptocurrency News

FTX News: Sam Bankman-Fried, Family, Former Executives Receive Subpoenas

FTX sends subpoenas to former FTX CEO Sam Bankman-Fried, his family, and former executives of FTX and Alameda to submit docs this week.
Published by
FTX News: Sam Bankman-Fried, Family, Former Executives Receive Subpoenas

FTX News: Former FTX CEO Sam Bankman-Fried, his father Joseph Bankman, and family members have received subpoenas as part of FTX bankruptcy proceedings, as per a court filing on Tuesday. Former FTX and Alameda Research executives including Caroline Ellison, Gary Wang, and Nishad Singh have also received subpoenas from FTX Debtors.

According to court filings in the U.S. Bankruptcy Court for the District of Delaware, FTX debtors require all individuals to attend the court proceeding on the said data and submit all documents as characterized in the subpoena.

Joseph Bankman, Caroline Ellison, Gary Wang, and Nishad Singh or their representatives must provide a range of documents on February 16. The subpoenas focus on questionable spending by FTX insiders such as $16.7 million spent on Bahamian real estate by Bankman-Fried’s parents and a Washington, D.C., headquarters building purchased by Guarding Against Pandemics, an advocacy organization founded by the Bankman-Fried brothers.

Beleaguered crypto exchange FTX received court approval last week to issue subpoenas to former CEO Sam Bankman-Fried and all other affiliates.

Sam Bankman-Fried has pleaded not guilty to allegations of fraud for misappropriating customer funds and using these funds for trading at Alameda Research and for personal expenses. However, former Alameda CEO Ellison and FTX co-founder Wang have admitted to fraud and cooperating with federal prosecutors.

Advertisement

FTX News: Ongoing Investigation and Lawsuits

Meanwhile, Sam Bankman-Fried has been ordered by a judge not to use a virtual private network to access the internet, after prosecutors claim he’s using a virtual private network despite restraining orders to not communicate with former employees.

Also, the bankruptcy court has approved an earlier request by FTX to leave its Turkish entities out of bankruptcy proceedings in the U.S.

On another side, a class-action lawsuit has been filed against venture capital firms Sequoia Capital, Thoma Bravo, Paradigm, and others that invested in FTX.

Also Read: Elon Musk Declaring New CEO Pumps Dogecoin, Floki Inu, Shiba Inu Prices

Share
Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data

Traders are beginning to price in the possibility of a 50 basis points (bps) Fed…

September 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor Spotlights Strategy’s Performance Following S&P 500 Snub

Michael Saylor highlighted Strategy’s outperformance after the company was excluded from the S&P 500. The…

September 6, 2025
  • 24/7 Cryptocurrency News

Donald Trump Shortlists Hassett, Warsh, and Waller for Fed Chair

U.S. President Donald Trump has revealed his shortlist of candidates who could potentially replace Fed…

September 6, 2025
  • 24/7 Cryptocurrency News

Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes

Ethena Labs has secured fresh funding from ArkStream Capital as it expands its ecosystem in…

September 6, 2025
  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun responded to World Liberty Financial freezing his wallet by promising to purchase $20…

September 6, 2025