[ad_1]
Federal prosecutors for the Southern District of New York are overseeing the current case against Sam Bankman-Fried, the disgraced founder and former CEO of FTX, wants the courts to drop more stringent bail conditions for the accused.
SBF Using Signals
Based on their investigation, they discovered that Sam Bankman-Fried, also known as SBF, had sent messages to FTX US general counsel via Signal.
Signal is a messaging app similar to WhatsApp. The platform offers cross-platform instant messaging, allowing people to communicate privately. Signal generator main focus is security and privacy. The application is run as a non-profit managed by a foundation. Over 40 million people use it, and per court filing, SBF is one of them.
Investigators said the message sent to FTX US general counsel, an individual who could serve as a potential witness in the ongoing criminal case against SBF, was “suggesting an attempt to influence the testimony of a potential witness.”
On Jan. 15, the SBF, prosecutors said, sent a message to public counsel asking if they could “reconnect” and “if there is a way for (for them) to have a constructive relationship, use each other as a resource.”
Investigators claim these messages are concerning because, given the current nature of the investigation, public counsel may have access to information that could help convict defendants.
For his actions, federal prosecutors asked a supervising judge to prevent SBF from communicating with the former employee and stop using Signal. Any subsequent communications will be contrary to the warranty terms.
Even under house arrest, the former CEO continues to host guests. For example, there have been reports that writer Michael Lewis visited the SBF. He is currently writing a book about crypto entrepreneurs.
The collapse of FTX
SBF manages FTX, an exchange that was once one of the most liquid in the world, only after Binance and Coinbase, since its launch. However, it has recently been revealed that through Alameda Research, SBF is misusing user funds to trade recklessly, invest in crypto projects, and donate to US political parties.
The crash in crypto prices also accelerated the collapse.
Following the collapse of the FTX and revelations of the extent of SBF’s misappropriation, US authorities charged the 30-year-old with, among other things, money laundering, fraud and campaign finance violations.
SBF came out on a $250 million bond and pleaded not guilty to all charges against him. Despite the various interviews he previously conducted prior to his arrest, it was revealed that the former CEO had begun drafting his own defense. Recently, it was revealed that he had put a turn of events that led to the collapse of FTX on Substack, a media platform.
Featured image from Canva, Chart from TradingView
[ad_2]
Source link