Alameda officials admit fraud. FTX President in pending process

The former CEO of the FTX platform, Sam Bankman Fried, has arrived in the United States after being deported by the authorities in the Bahamas at the American request.

Sam Bankman Fried faces eight criminal charges, including fraud, theft, deceiving investors and squandering depositors’ money, as he is due to appear in a New York court on Thursday in one moment in which his lawyers will be asking for bail.

This came a day after Caroline Ellison and Gary Wang, two former directors of FTX’s “Alameda” platform, confessed to the prosecutor’s charge of defrauding her and confirmed they were cooperating with authorities to disclose the FTX bankruptcy details.

This comes as cryptocurrency investors are already recovering from the “crypto winter” caused by the collapse of Terraform Labs in May and the broader collapse of cryptocurrency exchange FTX, which filed for bankruptcy in November. And its founder, Sam Bankman Fried, was arrested in the Bahamas this week after US prosecutors filed criminal charges against him.

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