Coinspeaker
US vs FTX SBF Case Update: Judge to Review Proposed Gag Order Ahead of October 2 Hearing
As the former head of the derailed cryptocurrency exchange FTX and sister firm Alameda Research Sam Bankman-Fried, alias SBF, has been accused by the United States prosecutors of orchestrating one of the largest corporate scams in modern financial markets. Moreover, the FTX and Alameda exchange had received significant investments from institutional investors including government sectors in various jurisdictions around the world. Additionally, millions of cryptocurrency traders were left stranded after more than $30 billion was wiped out of the FTX exchange following alleged spendthrift by the former management.
Notably, the current FTX administration led by John Ray has signaled a move to reopen the exchange in a bid to make the creditors whole again. Moreover, the FTX recovery team has only managed to recover about $8 billion as of publication time. As a result, SBF has been charged w
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