NFT News by Thebittimes.Com

Also Read: Mike Novogratz Says “Democrats are Shooting Themselves in the Foot” advertisement Big Win For SBF? Sam Bankman-Fried has been charged with campaign finance violations and fraud charges by the US court. He was extradited from the Bahamas after the horrible collapse of FTX. However, the Federal prosecutors now want the campaign finance rules violation to be dropped. As per the court filings, the prosecutors highlighted that they received information from a Bahamas representative. It suggests that the nation’s government did not intend for the FTX founder to commit campaign finance violations. However, FTX’s bankruptcy lawyer asked the donation recipient to return the funds. The dropping of crucial campaign funding charges has been seen as a victory for SBF, who is under house arrest. However, his legal team earlier argued over several faults that happened during the extradition process. Recommended Articles...

Over the last couple of weeks, the community has been sending out pleas urging the court to reveal the bail guarantors of Sam Bankman-Fried . The former FTX chief was released on a $250 million bail after his arrest. Adhering to the increased demand regarding their identities, Judge Lewis Kaplan ordered in favor of the public. However, SBF ’s lawyers weren’t quite happy about it. On Feb. 7, the attorneys for SBF submitted an appeal to stop the last-minute disclosure of the identities of the guarantors. Although the request did not include any anguish against the revelation, it will delay the enforcement of the order until Feb.14. Toward the end of January 2023, United States District Judge Lewis Kaplan approved the appeal put forth by eight media firms. The identities of the other two guarantors were asked to be protected after SBF’s parents garnered threats. The FTX chief’s parents had also signed bonds at $200,000 and $500,000. The Judge, however, we...

Disgraced FTX founder Sam Bankman-Fried was arrested on Tuesday by the Bahamas police. SBF could face trial after being extradited to the United States as he faces multiple charges pinned against him. The SEC charged SBF for defrauding investors and carrying out “sophisticated years-long fraud“ . You can read more details about the SEC’s charges against SBF here. Amid all the chaos and uncertainty, FTX ’s native token FTT is taking a hit in the indices since November. Also Read: US Government charges Sam Bankman-Fried with Money Laundering, Fraud Source: Coingecko.com FTX’s FTT Token Down 99% From ATH Source: Tremplin FTX’s FTT token is down 98.4% from its all-time high of $84.18 which it reached in September last year. FTT is down nearly 8% on Tuesday and could slip further to double digits in the next few hours. The token could go down below 99% from its ATH this week after the news of his arrest. Also Read: BNB Falls After ‘Prosecution’ Repo...

The crypto space has been plagued by liquidity issues since the beginning of this year and companies have been finding it difficult to stay afloat. One after the other, prominent names like Celsius, Three Arrows Capital, Terraform Labs, Hodlnaut, Voyager, Zipmex, Vauld, etc. revealed that they were in a fix. Now, the crypto town has a new damsel in distress—FTX. Wait, what? Everything seemed to be on track for FTX—one of the world’s largest crypto exchanges—until recently. When other companies were in trouble earlier, it gladly lent out a helping hand. Amid market volatility, for instance, it injected around $250 million into BlockFi in July. Around that time, Bankman-Fried opined that being there for one another and helping contain losses during challenging periods was the right way forward. He said, “I do feel like we have a responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion. Even if we we...