While Sam Bankman-Fried is to be heard next Tuesday for his plea, he plans to plead not guilty. At the same time, the person denied being behind the suspicious transactions made by Alameda Research addresses this week.
https://cryptoast.fr/sam-bankman-fried-plaidera-non-coupable-pour-ftx/
Sam Bankman-Fried to plead not guilty
As the lengthy legal process surrounding the FTX case has only just begun, Sam Bankman-Fried (SBF) plans to plead not guilty for his defense against the charges brought against him.
In effect, next Tuesday at 2 p.m. New York time, or 8 p.m. in Paris, SBF must be heard by Judge Lewis Kaplan in Manhattan for his plea. It is at this hearing that SBF will deny the charges relating to fraud and deception of its customers, as reported by Reuters, to which the lawyers of the person concerned did not send comments.
Of course, this is only one of the first steps before a verdict is given and the ex-CEO of FTX will be able to reconsider his decision. Remember that on the whole case, he risks up to 115 years in prison, although he could get away with ten years in similar cases.
👉 To go further – Learn how to secure and store your cryptocurrencies away from centralized platforms
The best way to secure your cryptocurrencies 🔒
🔥 The world leader in crypto security
👉 Listen to this article and all other crypto news on Spotify
SBF denies being behind mysterious Alameda Research transactions
This week, several on-chain analysts noted that addresses affiliated with Alamada Research had made curious movements to sell and mix 1.7 million dollars of different tokens. While suspicion naturally fell on Sam Bankman-Fried, released on bail last week, he denied the speculation outright:
None of these are me. I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore.https://t.co/5Gkin30Ny5
— SBF (@SBF_FTX) December 30, 2022
He also went on to say, “that it was likely that various branches of FTXare at the origin of these movements.
While SBF has proven in recent months that honesty is optional for him, it’s hard to draw conclusions from all of this. The fact is that the person behind these movements necessarily had access to the private key(s) behind the addresses in question. These movements can also be made by several people in the case of multisignature wallets (multisig).
In any case, justice seems not to be at the origin of these movements. And for good reason, our colleagues from Bloomberg reported that prosecutors for the Southern District of New York were investigating said movements. Regarding SBF, it would be subject to government or court authorization for any transaction over $1,000, with the exception of its legal costs.
👉 Also in the news – Liquid, a Japanese subsidiary of FTX, is set to reimburse its injured customers
Progress in the world of cryptocurrencies with Cryptoast experts 📘
Sources: Reuters, Bloomberg
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
423 items
