The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Sam Bankman-Fried Will Plead Not Guilty to Fraud Charges, Faces 115 Years if Convicted: Report

by Alex Richardson
January 2, 2023
in Scams, Schemes and Hacks

FTX founder Sam Bankman-Fried will reportedly plead not guilty to fraud charges relating to the collapse of the crypto exchange late last year.

According to a report from Reuters, Bankman-Fried will enter a not guilty plea to criminal charges that he defrauded investors and misappropriated billions of dollars from the exchange.

The former crypto billionaire is facing allegations of illegally using FTX customer deposits to fund his trading firm Alameda Research, donate to politicians and pay for highly illiquid investments.

Bankman-Fried will appear in court on Tuesday, January 3rd before U.S. District Judge Lewis Kaplan in Manhattan to enter the plea.

Currently, Bankman-Fried is under GPS-monitored house arrest in California on a $250 million bond secured by the equity in his family home along with the signatures of his parents and two unnamed individuals who have sizeable assets.

Caroline Ellison, the former CEO of Alameda Research, has entered a guilty plea and agreed to cooperate with investigators.

Ellison admitted to being aware that FTX used customer funds to finance loans to Alameda.

“I understood that FTX would need to use customer funds to finance its loans to Alameda…Most FTX customers did not expect that FTX would lend their digital asset holdings and fiat currency deposits to Alameda in this fashion…

I understood that if Alameda’s FTX accounts had significant balances in a particular currency, it meant that Alameda was borrowing funds that FTX’s customers had deposited on the exchange.”

If convicted to the fullest extent of all charges, Bankman-Fried faces 115 years in prison, according to the report.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/DM7/S

Design1689/INelson

Submit a Press Release

Industry Announcements

  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
  • Deposit EUR/GBP at Zero Percent Fees With Newly Launched SEPA/FPS Channels on Bitget
    January 19, 2023
  • Coinbase Lists Kava, Advancing Ethereum–Cosmos Interoperability
    January 18, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,006.16
$23,006.16
0.23%
Ethereum
$1,582.50
$1,582.50
1.69%
Cardano
$0.378627
$0.378627
0.16%
XRP
$0.407146
$0.407146
1.36%
Dogecoin
$0.085836
$0.085836
0.9%

Spotlight

  • Crypto Analyst Says Bitcoin Eyeing Massive Surge After Breaking Through Major Hurdle – Here’s the Timeline
    January 21, 2023
  • Ethereum-Based Gaming Altcoin Suddenly Erupts Ahead of $60,000,000 Token Unlock
    January 24, 2023
  • Analyst Who Called 2021 Bitcoin Crash Reveals BTC Price Target for This Year
    January 19, 2023
  • Top Trader Unveils Best-Case Scenario for Altcoins After Another Big Bitcoin (BTC) Breakout
    January 22, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl