Business

Sam Bankman-Fried Ran FTX as His ‘Personal Fiefdom,’ Lawyers Say

Sam Bankman-Fried Ran FTX as His ‘Personal Fiefdom,’ Lawyers Say

FTX founder and former CEO Sam Bankman-Fried ran his company like a “personal fiefdom,” lawyers for the failed cryptocurrency exchange say. FTX's legal team made the statement in a Wilmington, Delaware bankruptcy court on Tuesday. The comment came during the first bankruptcy hearing for the collapsed crypto exchange. The company…
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FTX Funneled Millions into Political Campaigns before Bankruptcy

FTX Funneled Millions into Political Campaigns before Bankruptcy

Three FTX executives funneled over $70 million to political campaigns during the 2022 election cycle, ranking third in donations overall, records show. Former FTX executives sought to gain influence in Washington by contributing significantly to this year’s midterms. The big beneficiaries of FTX’s donations have attracted attention following the spectacular collapse…
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Elon Musk Restores Project Veritas’ Twitter Account

Elon Musk Restores Project Veritas’ Twitter Account

Elon Musk's Twitter has restored the account of the non-profit investigative journalism watchdog Project Veritas as several high-profile users have had bans lifted in recent days. The Project Veritas, headed by James O’Keefe since 2011, is the latest account to be reinstated after the social media platform was taken over…
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Alameda: The Firm at the Heart of FTX’s Epic Collapse

Alameda: The Firm at the Heart of FTX’s Epic Collapse

In late 2017, MIT alumnus Sam Bankman-Fried left the quantitative trading firm Jane Street to start his own cryptocurrency trading firm, Alameda Research. Founded prior to FTX, Alameda got its start by taking advantage of bitcoin price differentials between Japanese and U.S. exchanges, namely by buying bitcoin for a low price in the…
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Grain Deal Between Russia & Ukraine Extended by 120 Days

Grain Deal Between Russia & Ukraine Extended by 120 Days

The grain deal between Russia and Ukraine that facilitates the export of Ukrainian agricultural exports via Black Sea ports has been extended by 120 days, according to reports. The deal extension was confirmed by Russia, Turkey, Ukraine, and the United Nations. “I welcome the agreement by all parties to continue…
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