Analysis Crypto by Thebittimes.Com

In a 15,000-word document revealed by The New York Times, the disgraced crypto entrepreneur tried to share his point of view on what happened to FTX. Sam Bankman-Fried (SBF), the founder of the failed crypto exchange FTX who’s charged with fraud over its collapse, wrote 15,000 words of what seems to be his legal defense strategy at a criminal trial scheduled for next month. According to details of the document first revealed by The New York Times and shared by Tiffany Fong, a social media influencer, SBF doubted that Caroline Ellison — the former CEO of Alameda Research — was the right choice for the position, saying she “continually avoided talking about risk management.” “She continually avoided talking about risk management — dodging my suggestions — until it was too late. Every time that I reached out with suggestions, it just made her feel worse. I’m sure that being exes didn’t help.” Sam Bankman-Fried Bankman-Fried claims his conce...

Former co-CEO of FTX Digital Markets, Ryan Salame, is reportedly holding talks with US federal prosecutors about a guilty plea deal. Ryan Salame, who was one of Sam Bankman-Fried’s close associates, is negotiating a guilty plea with US prosecutors , according to Bloomberg, which cited sources familiar with the matter.  The guilty plea could be as soon as September 2023, a month before Bankman-Fried is scheduled for trial. However, it is uncertain if Salame will agree to testify against SBF in the latter’s upcoming October trial.  You might also like: Former FTX exec’s house raided by FBI One of the charges against Salame includes alleged violations of campaign finance laws. The former FTX co-chief, during his time at the company, was one of the prominent Republican donors, reportedly donating about $24 million to candidates of the party, with part of the recipients being Salame’s girlfriend, Michelle Bond.  Bond, the CEO of the Association for Digital As...

Block.one owes much more to EOS investors than just $22 million after the $4-billion ICO, EOS Network Foundation CEO Yves La Rose believes. The latest legal action against Block.one (B1), the creator and original seller of EOS (EOS), could potentially help plaintiffs get higher compensation, according to EOS Network Foundation (ENF) founder and CEO Yves La Rose. On July 25, La Rose officially announced that ENF is preparing a lawsuit against Block.one for its failure to follow through on its $1-billion following its $4.1-billion raise in 2018. The CEO argued that Block.one’s broken promises to invest $1 billion caused major issues for the EOS community and promised to hold the firm accountable. As many investors have already been part of another class action against Block.one, a number of those might need to opt out of their current lawsuits, La Rose said. “They would do that if they aren’t satisfied with the current settlement offer and believe their interests are better suited by o...