China News by Thebittimes.Com

As a US District Court judge sentenced Sam Bankman-Fried (SBF) to 25 years in prison, the judge reminded the fallen crypto leader that he voluntarily committed perjury three times during his trial. Sadly, criminal conduct is unremarkable among businessmen in the digital asset space. For years, founders of crypto projects have withheld information, lied, failed to register with appropriate regulatory agencies, or executed complicated schemes to evade regulations. Crypto perjury has a particularly long-standing tradition . Perjury is a serious crime because it is often an additional, voluntary action that criminals choose to commit after they have already committed more serious crimes. Legally defined, perjury is “a false statement under oath or knowingly signing a legal document that is false or includes false statements.” In other words, someone commits perjury when they intentionally lie about a material issue when legally communicating with officers of a court. The temptation ...

Last week, US prosecutors requested a judge to revoke Sam Bankman-Fried ’s $250 million bond following the publication of a New York Times story. The article quoted excerpts from a diary written by Caroline Ellison, the former CEO of Alameda Research, who has pleaded guilty to fraud and is now cooperating with prosecutors. advertisement Prosecutors claimed that Sam Bankman-Fried provided the diary entries to the New York Times and spoke with the reporter who wrote the article. They accused him of trying to intimidate Ellison, who might be a witness in his trial and influence the potential jurors. However, SBF’s lawyer Mark Cohen said that detaining his client because he talked to a reporter raises “serious” First Amendment issues. He added: “Mr. Bankman-Fried’s contact with the New York Times reporter was not an attempt to intimidate Ms. Ellison or taint the jury pool. It was a proper exercise of his rights to make fai...

FTX ’s new management has hired a team of forensic investigators to track the billions of dollars that went missing from the crypto exchange. According to Wall Street Journal‘s anonymous sources, the investigators are from the advisory firm AlixPartners. The team is led by Matt Jacques, a former Chief Accountant for the Securities and Exchange Commission’s enforcement division. JUST IN: FTX hires forensic investigators to track the billions of dollars that went missing. — Watcher.Guru (@WatcherGuru) December 7, 2022 The forensics firm will be in charge of conducting “asset-tracing” to identify and recover the missing digital assets. Alongside, it will complement the restructuring work being undertaken by FTX . It is worth recalling here that a lawyer representing FTX debtors revealed that, towards the end of November, “a substantial amount of assets have either been stolen or are missing” from FTX. In fact, the funds...

There’s utter chaos in the crypto space, owing to the collapse of well-established crypto exchange FTX . Earlier this month, Binance signed a non-binding agreement to bail out the beleaguered company. However, right after, it backed out by stating that the issues were beyond its control or ability to help. The Co-Founder and CEO of Binance, Changpeng Zhao, recently criticized the stepped-down CEO of bankrupt exchange FTX , Sam Bankman-Fried. At the the Milken Institute’s Middle East and Africa Summit on Thursday, Zhao was asked to opine on a tweet posted by SBF in which he was obscurely referred to as a “sparring partner.” 20) At some point I might have more to say about a particular sparring partner, so to speak. But you know, glass houses. So for now, all I'll say is: well played; you won. — SBF (@SBF_FTX) November 10, 2022 Also Read: FTX Founder Says “F**k Regulators”, Lauds Them on Twitter Later SBF should have been working o...