FTX's $1bn Lawsuit Against Founder Sam Bankman-Fried: A Tale of Misappropriated Funds and Criminal Charges

Sam Bankman-Fried
"In a dramatic turn of events, the bankrupt cryptocurrency exchange FTX has filed a lawsuit against its founder, Sam Bankman-Fried, and three other former executives, seeking $1 billion in damages. The lawsuit alleges that the defendants engaged in a series of illicit transactions that should be reversed under U.S. bankruptcy law. The move is seen as an attempt to recoup assets for creditors, including thousands of customers who lost access to their funds when FTX suspended withdrawals last year.
Former Fed Chair Bernanke Foresees Possible Last Rate Hike in July Amid Cooling Inflation
Former U.S. Federal Reserve Chairman Ben Bernanke suggested on Thursday that the Federal Reserve is likely to raise interest rates in July, which may be the final hike in the current cycle. Bernanke implied that it seems quite evident that the Fed will increase rates by 25 basis points at its next meeting, and this July increase might be the last one.

The Latest

  • JPMorgan Predicts Return of 'Super Cycle' and Potential Energy Crises Ahead
  • Global Rate Hikes Nearing an End? Central Banks Face Unique Challenges
  • Central Banks Must Step Up Amid "Balance Sheet Recession" Concerns
  • China Intensifies Scrutiny on Quantitative Trading Amid Market Volatility - Report
  • Russia Stirs the Pot: Temporarily Halts Diesel and Gasoline Exports Amid Soaring Oil Prices
  • Fed Holds Steady for Second Time This Year, Signals Another Rate Hike by Year-End
  • U.S. Dollar's Nine-Week Rally: Impacts and Insights
  • Oil Prices Nearing Triple Digits: Goldman Sachs Ups Brent Forecast Amid Robust Global Demand
  • Instacart's Strong IPO Signals a Return of Investor Risk Appetite
  • Instacart's Rocky Road to IPO: From Unicorn Valuation to a $9.9 Billion Debut