FTX founder Bankman’s $700 million assets seized

Around $700 million in assets have been seized from Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, who is on trial for 8 crimes, including fraud and money laundering.

New York Southern District Attorney Damian Williams has identified 10 stock, cash and cryptocurrency accounts to be seized, according to court records. In this context, approximately $700 million in Bankman-Fried assets were seized. If convicted of fraud, Bankman-Fried will cease to exist in question.

BİNANCE DOES NOT BUY IN THE LAST TIME

Cryptocurrency exchange FTX began experiencing liquidity problems in early November last year after problems with rival and the world’s largest cryptocurrency exchange Binance. Despite the problems, Binance made a deal to buy FTX, but gave up at the last minute. After this development, there were sharp falls in the crypto market.

It was announced that FTX filed for bankruptcy in the US on November 11, 2022, and the company’s CEO, Sam Bankman-Fried, also resigned. Sam Bankman-Fried was detained in the Bahamas on December 12, 2022, after the United States filed a criminal complaint.

In the US, federal prosecutors had charged Bankman-Fried with various crimes, including fraud, violation of financial laws and money laundering.

It was decided that Bankman-Fried, who was surrendered to the US on December 21, 2022, would be released on $250 million bail pending a hearing.

Bankman-Fried, who is on trial for eight crimes including fraud and money laundering, denied the charges against him at a hearing in New York’s Southern District Court in early January.