Photograph: Eduardo Muñoz/Reuters

FTX founder Sam Bankman-Fried jailed

By babesugarbunny | Babesugarbunny | 12 Aug 2023



The founder of the now crashed exchange FTX, Sam Bankman-Fried, got his bond revoked by a judge after he apparently leaked former Alameda Research CEO Caroline Ellison's diary to the media. Since this was seen as trying to tamper with witnesses for the upcoming trial, the judge of the U.S. District Court for the Southern District of New York decided that he will have to stay in jail until his trial. By violating his bonds, Bankman-Fried once again showed that he only got his own interests in mind. 

The attempts to contact former FTX employees was a reason that the judge came to the conclusion that Bankman-Fried got no issues crossing the lines when it comes to getting a fair trial. This was a big shown of his mindset, the judge said. Sam have claimed not guilty for stealing billions of funds from former customers, but three persons from his inner circle have pleaded guilty on accounts of fraud. They have also agreed to cooperate with the US attorney’s office, hence why they will be witnesses in the trial. But it seems like Bankman-Fried either won't accept his own wrong doing or got his bets on being freed in the trial. 

The trial will happen this October and will hopefully give some justice to those affected. 

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Babesugarbunny
Babesugarbunny

A little burrito that got an interest in community involvement, fast cryptocurrencies and politics. Degree in socialwork and a mod on different crypto servers on Discord.

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