The echoes of the FTX scandal, which has left a black mark in the recent history of the global economy, continue. According to court records of the lawsuit against the exchange’s founder Sam Bankman-Fried, the New York Southern District Attorney’s Office identified 10 different accounts that appeared to belong to Fried.
The total assets in these 10 different accounts, made up of stock, cash, and crypto wallets, are worth about $700 million. If Fried is found guilty under the lawsuit, he will lose the equivalent of $700 million in assets in those 10 accounts.
What happened?
FTX, which had a liquidity shortage in early November due to the problems with the largest cryptocurrency exchange Binance; when the dates showed November 11, 2022, he started the bankruptcy process; The future of millions of investors was uncertain.
Sam Bankman-Fried, who was detained in the Bahamas exactly one month later on December 12, 2022; current violations of financial laws by US federal prosecutors; He is being tried in light of the indictment prepared for money laundering and fraud. Fried denies all allegations against him, including fraud.
Source: Web Tekno
Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.