Cointime

Cointime

Download App
iOS & Android
Home / Point

Former Alameda Research CEO says SBF instigated her to commit crimes and SBF abused client funds

Former CEO of Alameda Research, Caroline Ellison, testified in court that FTX founder Sam Bankman-Fried instructed her to commit a crime and that SBF misused FTX user funds. She sent balance sheets according to SBF's instructions, which made Alameda's balance less risky for investors. She also proved that Alameda obtained funds from FTX for its own investments.

Alameda Research Caroline Ellison SBF case
Comments

All Comments

Recommended for you

  • Marathon reports record net revenue of $337.2 million in first quarter of 2024

    Bitcoin mining company Marathon Digital Holdings reported a record net profit of $337.2 million in the first quarter of 2024. The quarterly net profit announced by the company in its earnings report on May 9th increased by 184% compared to the first quarter of 2023, which was $118.7 million. The diluted earnings per share for this quarter were $1.26. The company announced that its first quarter revenue for 2024 reached a record $165.2 million, an increase of 223% from the same period last year, which was $51.1 million.

  • Binance CEO: Nigerian officials demanded $150 million in bribes

    Binance CEO Richard Teng has remained silent on the legal crisis in Nigeria for the past few months, but today Binance executive Tigran Gambaryan posted on the matter of his being charged in Nigeria, stating that unidentified individuals had contacted the exchange's employees and suggested paying a sum of money to resolve the charges. According to DL News, Nigerian officials have demanded a possible bribe of up to $150 million in cryptocurrency from Binance. In a statement, Richard Teng said that lawyers had been asked to make a large payment in cryptocurrency within 48 hours.

  • Uniswap founder: Founders and VCs need to stop valuing startups and pre-coin crypto projects at more than $1 billion

    Uniswap founder Hayden Adams posted on social media that cryptocurrency founders and venture capitalists need to stop valuing projects at over $1 billion in the early stages of development and before tokens have been released, until they are truly worth that valuation. Building something worth 7-9 figures is an incredible achievement, and not every project needs to be a unicorn at launch. Additionally, Hayden Adams said, perhaps it's naive, but I think raising funds as a founder at a fair valuation (real talent wants upside) and investing at a fair valuation as a VC (LPs want upside) can make more money. It's just harder to do it that way.

  • Trump: The US will stop being hostile to cryptocurrencies and embrace them

    According to Watcher.guru on X platform, former President Donald Trump stated that he will stop the hostility towards cryptocurrency in the United States and embrace it.

  • Fed's Collins: Reaching 2% inflation may take longer than expected

    The Fed's Collins stated that it may take longer than expected to reach a 2% inflation level; the policy is appropriately restrictive for risks; rates should be maintained until confidence is strengthened; the full impact of restrictive policies may not yet be seen; high uncertainty reinforces the need for the Fed to remain patient; it is necessary to slow down the US economic growth in order to put inflation on the path towards a 2% decline; there has been no sign of inflation falling back since 2024; demand is expected to eventually slow down, but there is uncertainty regarding timing.

  • Messari releases Fantom Q1 report: Market value increased by 101% month-on-month, DeFi TVL increased by 59% month-on-month

    Messari recently released the Fantom 2024 Q1 status report, with the following highlights:

  • Chairman of the U.S. SEC: The crypto market is a hotbed of fraud, and investors are not getting the necessary information disclosure on related assets

    According to CNBC, Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), stated in an interview that the SEC oversees $110 trillion in capital markets, with approximately half in the stock market and half in the bond and other markets. Cryptocurrency is only a small part of the entire market. However, it is a huge part of fraud, deception, and problems in the market, as most of the content in this field does not comply with securities law protection.The SEC cannot talk to any company, but in the field of crypto assets, without prejudging any of them, according to the US Supreme Court's interpretation, many tokens are securities under local law, so we comply with this law, and investors do not receive the necessary information disclosure about these assets.

  • CFTC Chairman: Cryptocurrencies face an inevitable wave of enforcement actions

    As the US Securities and Exchange Commission (SEC) continues to review participants in the cryptocurrency industry including Robinhood, Binance, Coinbase, and Ripple, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam has warned that enforcement actions are on the rise. Behnam emphasized the lack of regulatory frameworks and transparency in the constantly evolving cryptocurrency industry, which he believes will inevitably lead to more cases of fraud and manipulation. Behnam expects a "cycle of enforcement actions" in the next six months to two years, driven by the rapid appreciation of digital assets and strong interest from retail investors. In addition, Behnam believes that without proper regulation, fraud and manipulation will continue to persist.

  • Vitalik Buterin proposes an alternative to EIP-3074

    Wallet Connect developer Pedro Gomes posted on X platform that Vitalik Buterin proposed an alternative to EIP-3074, which moves from opcode to transaction type methods. This new method benefits from using 4337 infra PLUS to reduce the risks for core developers. Wallet Connect also includes 7377 txn types for smoother migration of EOA to smart accounts.

  • SBF found guilty on seven counts

    Sam Bankman-Fried has been found guilty of the collapse of FTX. After 15 days of testimony and about four and a half hours of deliberation, the jury made a verdict, finding him guilty of seven counts of fraud and conspiracy.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company