Caroline Ellison accused Bankman-Fried of being the mastermind behind illegal activity at FTX. Her words carry weight: She worked with him and also once dated him.
Sam Bankman-Fried faces seven criminal charges, including for defrauding investors. His blockbuster trial is set to begin on Tuesday, and he could face an over 100-year prison term if convicted.
FTX's lawyers allege Sam Bankman-Fried's mom and dad helped shape their son's crypto empire and received millions of dollars worth of gifts and benefits from the now-bankrupt company.
The SEC announced this week a barrage of lawsuits against crypto exchanges Coinbase and Binance. The outcome could help define the future of the cryptocurrency sector.
U.S. regulators sued Binance, saying the world's largest crypto trading platform misled investors and regulators. The accusations were part of 13 charges unveiled by the SEC.
Most white-collar defendants lay low, but the ex-CEO of the collapsed cryptocurrency exchange FTX has been talking, tweeting, and sending email newsletters. Those comments could come back to hurt him.
A review found that the exchange's compliance program violated state laws, making it "vulnerable to serious criminal conduct." It will pay a $50 million fine and spend the rest beefing up oversight.
Binance temporarily froze withdrawals after customers withdrew more than $1 billion worth of crypto on Tuesday, fueling fears more crypto companies could collapse.
BlockFi was one of the companies that FTX bailed out in recent months. Now it's a clear sign that contagion from FTX's collapse is spreading throughout the crypto industry.
At the first hearing in FTX's bankruptcy proceedings, lawyers confirmed that millions of dollars are stolen or missing, and revealed stunning details about the downfall of the once-mighty exchange
