CFTC Plans to Sue Sam Bankman-Fried for Fraud: Report
Policy
U.S derivatives regulator Commodity Futures Trading Commission (CFTC) is planning to sue the co-founder of bankrupt crypto exchange FTX, Sam Bankman-Fried, for fraud, Bloomberg reported, citing a source.
CFTC will bring a case against Bankman-Fried, FTX and Alameda Research, according to the report.
The Bloomberg report comes after the U.S. Securities and Exchange Commission (SEC) filed charges against Bankman-Fried for defrauding FTX investors.
The CFTC was not immediately available for comment.
Read more: US SEC Charges Sam Bankman-Fried for Defrauding FTX Investors
Related news
Policy
Apr. 24, 2024
Nigeria Directs Entities to Identify Those Dealing Crypto With Bybit, KuCoin, OKX and Binance
Nigeria’s Central Bank has directed institutions in the financial space to identify persons or entities transacting in or operating four unlicensed crypto exchanges – Binance, Bybit, KuCoin and OKX. The latest action comes after an ongoing saga...
Policy
Apr. 24, 2024
What’s at Stake for Crypto in India As the World’s Largest Democracy Is in the Midst of Its National Election?
India's multi-phased election kicked off earlier this month and the manifestos of the major political parties have not made any crypto-specific promises. However, promises related to the digitization of the nation have been made, even if crypto...
Policy
Apr. 24, 2024
In Mexico’s Biggest Election Yet, Crypto Remains on the Sidelines
In Mexico's coming election, cartel violence, corruption and migration push any chance of crypto becoming an election issue to the sidelines. Voting in Mexico will take place on June 2, with results expected between June 5 to June 8. Mexico i...
Policy
Apr. 24, 2024
Tether Will Freeze Wallets Evading Venezuelan Sanctions
A tether spokesperson said that it will freeze addresses linked to evading sanctions. Reuters reported earlier this week that Venezuelan oil company PDVSA was using USDT via intermediaries to bypass U.S. sanctions. Venezuela’s original crypto ...
Policy
Apr. 24, 2024
Binance Founder Changpeng Zhao Should Spend 3 Years in Prison, DOJ Says
Binance's founder and former chief executive, Changpeng "CZ" Zhao, should spend three years in prison for his role in enabling the crypto exchange to violate federal sanctions and money laundering laws, the U.S. Department of Justice said Tuesday...
Policy
Apr. 24, 2024
Indonesian President Joko Widodo Warns of Money Laundering via Crypto and NFTs
Indonesian President Joko Widodo warned the Financial Transaction Reports and Analysis Centre (PPATK) to monitor the use of crypto and non-fungible tokens (NFTs) for money laundering during a speech last Wednesday at the 22nd Anniversary of the...
