Golden Finance reported that federal prosecutors in Illinois have charged Thomas Pavey and Raheim Hamilton with operating the darknet market Empire Market. The prosecution alleges that they conducted a total of $430 million in transactions through the platform from 2018 to 2020, allowing users to anonymously purchase drugs and stolen credit card information using cryptocurrency. The two were previously detained for selling counterfeit currency on another darknet market, AlphaBay. The new charges include drug trafficking, computer fraud, forgery, and money laundering, with a maximum sentence of life imprisonment. Law enforcement authorities seized $75 million worth of cryptocurrency, cash, and precious metals during the investigation.

Golden Finance reported that Ryan Salame, a former FTX executive, is facing criminal charges and could be sentenced to five to seven years in prison for the collapse of a cryptocurrency empire worth billions of dollars. In a sentencing memorandum filed with the Manhattan federal court on Tuesday, federal prosecutors stated that this 30-year-old man admitted to committing "serious crimes that warrant a severe sentence to ensure Salame receives fair punishment." Salame's lawyer argued that his sentence should not exceed 18 months.

The prospect of a "higher and longer" Intrerest Rate is putting pressure on the Crypto Assets market, Bitcoin posting its biggest monthly fall since the collapse of SBF's FTX empire in November 2022, Golden Finance reported. Bitcoin big dump nearly 16% in April, and the launch of Bitcoin and Ether coin ETF in Hong Kong on Tuesday also failed to bring momentum. There are longer reasons why the Fed may signal a delay in cutting interest rates after this week's meeting. Chris Weston, head of research at Pepperstone, said the recent rise in US Treasury yields and real Intrerest rates has weighed on gold, Bitcoin and US equities.

PANews reported on March 20 that according to Bloomberg, Sam Bankman-Fried said that the U.S. prosecutor's proposal to sentence him to up to 50 years in prison "distorts reality" and portrays him as a "depraved supervillain." Prosecutors argue that the "historic" crime against the FTX co-founder, involving more than 1 million victims and more than $10 billion in losses in the collapse of the FTX crypto empire, warrants a prison sentence of 40 to 50 years. The Manhattan U.S. attorney argued before the judge who would sentence Bankman-Fried on March 28, saying he had shown "unparalleled greed and arrogance" and had violated the law under the "guidance of pernicious megalomania, which was based on the defendant's own values and superiority." "The government's request is well below the 100-year recommended by the U.S. criminal sentencing guidelines, but much higher than the six-and-a-half-year recommended by Bankman-Fried attorneys. In a response on Tuesday, Bankman-Fried's lawyer called the prosecutor's filing "disturbing" and claimed the government "wanted to break" the 32-year-old.

Joseph Bankman and Barbara Fried, parents of FTX founder SBF, are seeking court dismissal of FTX's lawsuit against them, denying claims that they knew about FTX's problems and benefited from the company's misconduct. Its lawyers argue that FTX's lawsuit seeks to "exploit the sheer fact that they are the parents of the former FTX CEO." FTX's previous lawsuit alleges that Joseph Bankman and Barbara Fried used their connections and influence in the FTX empire to enrich themselves at the expense of debtors in FTX's Rekt estate. The two denied the claims, arguing that most of them were based on their relationship with their son. The lawyers denied that Bankman had a fiduciary relationship with FTX and served as a de facto director, but said that even if a fiduciary relationship existed, the plaintiffs failed to reasonably allege breach of contract. Fried made a similar argument, arguing that there were no allegations of potential irregularities and no real knowledge of any wrongdoing. （Cointelegraph）

PANews reported on January 17 that, according to a court filing on January 15, Joseph Bankman and Barbara Fried, the parents of FTX founder Sam Bankman-Fried (SBF), are seeking to dismiss FTX's lawsuit against them, denying that they knew about FTX's problems and benefited from the company's misconduct. Their lawyers argue that FTX's lawsuit seeks to "exploit the sheer fact that they are the parents of the former FTX CEO." FTX's previous lawsuit alleges that Bankman and Fried used their connections and influence in the FTX empire to enrich themselves at the expense of debtors in FTX's Rekt estate. Bankman and Fried denied the claims, arguing that most of them were based on their relationship with their son. The lawyers denied that Bankman had a fiduciary relationship with FTX and served as a de facto director, but said that even if a fiduciary relationship existed, the plaintiffs failed to reasonably allege a breach of contract. Fried made a similar argument, arguing that there were no allegations of potential irregularities and no real knowledge of any wrongdoing. It is reported that for months, FTX has been trying to get back millions of dollars in cash and gifts from the Bankmans, including a $16.4 million villa in the Bahamas.

Angel investor Santiago Santos said on the Empire podcast that the current industry fundraising environment is tough, but good Web3 teams can still access capital. Yanowitz doesn't expect many Web3 companies to announce new capital at this time due to poor market conditions. For example, if a company's share price is down 66% from its last fundraising, it's impossible to announce a large-scale financing.

PANews News on October 12, according to CoinDesk, former CEO of Alameda Research, Caroline Ellison, testified that SBF instructed her to use FTX clients' funds to repay Alameda Research's lenders. Despite her misgivings, she did as he asked. Ellison said she has been concerned since spring 2022 that Alameda's reliance on FTX client funds could spell disaster for both companies. She was relieved when SBF's crypto empire began to crumble, because it meant she could stop lying. Meanwhile, SBF had tried to finance FTX through an investment from Saudi Crown Prince Mohammed bin Salman (MBS). SBF said MBS was previously a potential investor in the exchange. Ellison also mentioned that SBF had hoped to buy Snapchat's parent company. In addition, Caroline Ellison said she and several FTX and Alameda executives "paid large bribes to Chinese officials" to unlock funds frozen on Chinese exchanges. After the FTX/Alameda team initially failed to negotiate with the Chinese government through lawyers to unlock the funds, they then tried to release the funds through a scheme involving the creation of fake foreign exchange accounts using the identity of "Thai prostitutes", but failed again. Eventually, those funds were secured after Ellison paid out $100 million to a crypto account. She understands that the account is somehow linked to Chinese government officials.

Odaily Planet Daily reported that the U.S. Department of Justice stated in the opening statement of the trial of FTX founder SBF that SBF’s entire cryptocurrency empire is a “house of cards built on lies.” SBF defense lawyers argued in their opening statements that SBF, the founder of FTX and Alameda Research, never intended to steal customers' funds. He was simply overwhelmed by the rapid growth of the two companies. SBF acted in good faith and did not deceive anyone. (CoinDesk)

PANews reported on October 5 that according to CoinDesk, the U.S. Department of Justice (DOJ) stated in the opening statement of the trial of FTX founder SBF that SBF’s entire cryptocurrency empire was a “house of cards” “built on lies.” SBF's defense team countered that SBF acted in good faith and that it was not his fault that his business grew too fast and collapsed dramatically. They placed some of the blame on Caroline Ellison and said she failed to put safeguards in place. Ellison has pleaded guilty and will testify during the trial. SBF's criminal trial for alleged fraud and conspiracy begins at 12:30 pm in New York on Wednesday. Assistant U.S. Attorney Nathan Rehn told the 12-person jury that the government will present evidence and expert witnesses to prove that SBF "lied to its clients" and used their funds to buy itself "money, power and influence."

Golden Finance reported that the U.S. Department of Justice (DOJ) stated in the opening statement of the trial of FTX founder SBF that the entire cryptocurrency empire of FTX founder SBF was a “house of cards” “built on lies.” SBF’s defense team countered that the former FTX founder acted in good faith even though his business grew too fast and collapsed dramatically through no fault of his own, SBF’s lawyers said. They placed some of the blame on one of his employees, his former lover Caroline Ellison, and said she failed to take safeguards. Ellison has pleaded guilty and will testify during the trial. SBF's criminal trial on fraud and conspiracy charges begins at 12:30 pm in New York on Wednesday. Assistant U.S. Attorney Nathan Rehn told the 12-person jury that the government will present evidence and expert witnesses to prove that the former cryptocurrency king "lied to his clients" and used their money to buy himself "money, power and influence." ".

PANews reported on September 29 that CoinDesk reporter won Gerald M. Loeb, considered the highest award in financial and business journalism, for exposing the unstable foundation of the SBF cryptocurrency empire and following up on the rapid collapse of FTX. (Gerald M. Loeb) Award. According to previous news, former CoinDesk reporter Tracy Wang won the Polk Journalism Award for reporting on FTX breaking news, namely "the luxurious lifestyle of SBF's inner circle."

Golden Finance reports that CoinDesk reporters have received what is considered the highest award in financial and business journalism for exposing the shaky foundations of Sam Bankman-Fried’s cryptocurrency empire and following up on the industry giant’s rapid, even bizarre, demise. The Gerald Loeb Award.

Golden Finance reports that FTX Group advisers are investigating the possibility of recovering millions of dollars paid to celebrities such as Shaquille O' Neal and Naomi Osaka for endorsing SBF's cryptocurrency platform before it collapsed. Financial advisers hired by FTX have reviewed payments to the athletes to determine whether they can be recovered under rules that allow companies to undo transactions executed before filing for Chapter 11 bankruptcy, Bloomberg reported, citing court documents. While the disclosures do not provide a comprehensive overview of FTX's endorsement spending, they reveal how SBF's empire leverages the fame of celebrity athletes, Major League Baseball (MLB), National Basketball Association (NBA) teams and Formula 1 racing. Enhance its brand awareness. The extent to which FTX Advisors believes this amount can be recovered, and whether any athletes or teams have offered to return the funds, remains unknown.

Jinse Finance reported that a document filed by the U.S. Department of Justice on Friday night stated that FTX advertisements featuring comedian Larry David and American football player Tom Brady showed that the lines between FTX’s U.S. and international operations were increasingly blurred. . Lawyers for SBF said that because the charges involve international operations, they should be legally carved out as separate U.S. operations. The government says the distinction is not that clear-cut, citing a series of now-infamous ads that aired months before the crypto crash ultimately destroyed Ban SBF’s empire. DOJ documents cite a Super Bowl ad that featured celebrities, described 'FTX' as 'a safe and easy way into cryptocurrency' and showed customers using the FTX logo instead of FTX .US logo devices. Featuring David as the title character and a solo appearance alongside Brady and his then-wife Gisele Bündchen. Internal documents indicate that FTX makes no distinction between advertising on international platforms and FTX.US.

According to news from PANews on September 1, Ryan Zurrer, founder of Vine Ventures and Dialectic AG, said on the Empire podcast: "We are on the cusp of listing bitcoin and ethereum ETFs in the next six months. It will take years to implement consistent regulation." He predicts that the possibility of the upcoming launch of a Bitcoin spot ETF will bring "a lot of demand side pressure." Institutions looking to hold 1% or 2% of established cryptocurrencies like Bitcoin and Ethereum for financial management can do so easily and inexpensively. Zurrer reiterated that “we are months, not years, away from consistent regulation with broad participation in cryptocurrencies.” Delphi Digital co-founder Tommy Shaughnessy said ETFs "change the aura of acceptance of cryptocurrencies," citing a recent podcast discussion with Hal Press.

Golden Finance reported that according to the "New York Times" citing Caroline Ellison's diary information, the bankrupt Alameda Research CEO Caroline Ellison admitted in December last year to fraud related to the collapse of the cryptocurrency exchange FTX. It feels great to feel the day the FTX empire finally crumbles.

According to PANews news on July 15, according to Bloomberg News, former US President Donald Trump provided more detailed information about his huge financial empire in the revised financial disclosure form, including his encrypted wallet, speech fees and other financial information. Proceeds from the sale of hotels in Washington, D.C. In the new disclosure, Trump provided more details about CIC Digital LLC, which received a licensing fee for using Trump's likeness on a series of NFTs. The company has a U.S. bank account with a balance of less than $1,000 and an Ethereum wallet holding between $250,000 and $500,000. In 2022, the former president earned a six-figure income from NFT sales. Regulator CREW released its financial disclosure form in April, showing revenue from NFT transactions ranging from $100,001 to $1 million.