New Evidence is being made public that allegedly shows the luxurious lifestyle of FTX CEO and co-founder, “altruist” Sam Bankman-Fried. He was the former CEO of a crypto-exchange that failed and is now fighting for his cause. He is requesting shares from Robinhood, but also notes that he has more customers than clients. Check out our other news to see Shark Tank star Mark Cuban’s warnings of a possible crypto implosion due to the “discovery and removal of wash trades” on exchanges. Lastly, experts believe gold prices will skyrocket in 2023. All this and more in the latest Bitcoin.com Weekly News Review.
Bankruptcy court documents show FTX co-founder’s alleged excessive spending
In court documents, FTX co-founder Sam Bankman-Fried (SBF) is seeking access to FTX’s $460 million in Robinhood stock. According to Delaware bankruptcy court documents, the FTX team spent tens of millions of dollars in 2022 on housing, hotels, food and flights. SBF’s Quant Trading Company owes $55,000, according to reports. Jimmy Buffett’s beach resort Margaritaville in Alameda had 20 suites occupied in recent months by FTX.
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SBF fights for Robinhood Shares: Claims it is harder than for FTX customers who may only suffer ‘possibility of economic loss’
Disgraced FTX founder Sam Bankman-Fried (SBF), is attempting to regain access to Robinhood Shares Valued at more than $460 Million. The former CEO of the crypto exchange that went bankrupt said he needs them in order to stay afloat. “pay for his criminal defense,” he said, emphasizing that they are necessary to avoid severe consequences. “irreparable.” FTX customers, on the other hand, are in a very different situation as they “face only the possibility of financial loss,” according to the SBF court filing.
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