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The Latest Breaking News on Crypto

Sam Bankman-Fried faces up to 115 years' prison if convicted on FTX fraud

WASHINGTON: Sam Bankman-Fried faces up to 115 years in prison if he’s convicted on all eight charges filed by the US Department of Justice on Tuesday — though he’s unlikely to be sentenced to that long a term.

The Times of India

"Dirty money": Unpacking the campaign finance charges against Sam Bankman-Fried

It's a significant footnote in what prosecutors are calling "one of the biggest financial frauds in American history."

Axios

Lightfoot supporter questions indicted crypto billionaire’s donation to Garcia

State Rep. Kelly Cassidy (D-Chicago) questioned Samuel Bankman-Fried’s motives for spending $151,420 on direct mail pieces for Chuy Garcia’s congressional reelection.

Chicago Sun-Times

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Five things we know about the collapse of FTX and Sam Bankman-Fried

Company founder was arrested and charged with running a ‘house of cards’ in ‘one of the biggest financial frauds in US history’

The Guardian - US

‘Uniquely destined to fail’: New FTX CEO describes to Congress mess left behind by SBF

FTX CEO John Ray III was the sole witness during the House Financial Services Committee hearing.

Fortune

Binance withdrawals hit $1.9bn in past 24 hours says data firm

The world’s biggest crypto exchange said it had ‘temporarily paused’ withdrawals as CEO said it was ‘business as usual’.

Al Jazeera

ASX rises after Wall Street gains and US inflation pulls back in November — as it happened

Australian and US stocks climb after data shows inflation in North America barely rose last month. Look back on the day's events and insights from our business reporters on the ABC News markets blog.

ABC News

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The Loop: Surviving police 'grateful' to be alive after Queensland siege, Scott Morrison to front royal commission today, and Netflix reveals Harry & Meghan numbers — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happen.

ABC News

Sam Bankman-Fried promised his FTX crypto empire would save the world. US authorities say he was lying from the start

Sam Bankman-Fried insists the collapse of $32 billion crypto empire is the result of bad accounting, human error and rotten luck. US authorities say it was a "massive, years-long fraud".

ABC News

Silvergate Capital faces questions from lawmakers amid FTX crypto exchange collapse

San Diego's Silvergate Capital made its name in recent years as one of a few traditional banks providing deposit, fund transfer, security and other services for the cryptocurrency trading market.

Tribune News Service

US lawmakers slam timing of arrest of FTX boss Sam Bankman-Fried

Republican says House GOP ‘was ready to grill him six ways to Sunday’

The Independent UK

Inside wild life of polyamorous 'Crypo king' who lost $32billion in FTX collapse

Sam Bankman-Fried went from a multi-billionaire to destitute overnight when his cryptocurrency exchange FTX collapsed after it was revealed billions were being funnelled into another of his companies

Daily Mirror

New FTX CEO says lax oversight, bad decisions caused failure

The new CEO of the cryptocurrency exchange FTX is appearing before a House committee Tuesday, detailing for lawmakers the lack of oversight and financial controls that he discovered since taking over the company a month ago

The Independent UK

Who Sam Bankman-Fried was going to blame for FTX’s collapse – until his arrest

Founder and CEO of cryptocurrency exchange could not appear before Congress

The Independent UK

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Chicago Sun-Times

Former FTX CEO Bankman-Fried hit with 8-count indictment

Former CEO Sam Bankman-Fried is accused of raising more than $1.8 billion from equity investors since May 2019 by promoting FTX as a safe, responsible platform for trading crypto assets. Instead, the complaint says, Bankman-Fried diverted customers’ money into his privately-held crypto fund without…

The Guardian - US

Sam Bankman-Fried and other FTX staff allegedly had ‘Wirefraud’ chat group

Chat group on the platform Signal was reportedly used to send end-to-end encrypted information about FTX and its hedge fund

The Guardian - US

Sam Bankman-Fried charged with fraud as first congressional hearing closes – as it happened

US Congress commences hearing on the collapse of the cryptocurrency exchange, less than 24 hours after its former chief executive was arrested

Axios

Sam Bankman-Fried charged with criminal fraud and money laundering

He was arrested Monday by Bahamas police and is expected to be extradited to the U.S.

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Reason

FTX's Sam Bankman-Fried Used Customer Assets to Fund Political Donations, Says SEC

Plus: moral panic about department stores, the obvious cause of homelessness, and more...

The Guardian - US

Biden signs bill protecting same-sex and interracial marriage rights – as it happened

President signs Respect for Marriage Act into law and says love is the ‘antidote’ to discrimination

Tribune News Service

SEC says Bankman-Fried defrauded investors of $1.8 billion

FTX co-founder Sam Bankman-Fried was accused by U.S. regulators of carrying out a multi-year scheme to defraud investors.

Evening Standard

FTX founder Sam Bankman Fried charged by SEC with defrauding investors

The former CEO was accused of having ‘built a house of cards on a foundation of deception’

Axios

Sam Bankman-Fried accused of fraud by SEC ahead of criminal charges

SBF was arrested on Monday night in the Bahamas at the request of U.S. authorities.

The Independent UK

SEC charges disgraced crypto boss Sam Bankman-Fried with defrauding FTX investors

The charges arrive less than a day after US officials announced the disgraced crypto baron had been arrested in The Bahamas

The Guardian - UK

FTX founder Sam Bankman-Fried charged with defrauding investors

SEC says investigation into other alleged misconduct by former CEO of cryptocurrency exchange is ongoing

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