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Crypto Scamster Sam Bankman-Fried Gets 25-year Prison Sentence

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the staff of the Ridgewood blog

Ridgewood NJ, former cryptocurrency magnate, scamster and poster child for digital assets Sam Bankman-Fried received a 25-year prison sentence for his involvement in the collapse of the now-defunct trading platform FTX. The 32-year-old MIT graduate, convicted in November on seven counts of fraud, conspiracy, and money laundering, faced a potential maximum sentence of 110 years.

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Cryptocurrency Scammer and Democrat Megadonor Sam Bankman-Fried Guilty on All Seven Counts

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the staff of the Ridgewood blog

Ridgewood NJ, jury finds disgraced cryptocurrency scammer and Democrat megadonor Sam Bankman-Fried guilty of fraud-related charges on Thursday.

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Crypto Scammer Sam Bankman-Fried Makes Bail

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the staff of the Ridgewood blog

Ridgewood NJ, Sam Bankman-Fried, the disgraced founder of failed cryptocurrency exchange FTX, pleaded not guilty to eight felony counts in New York yesterday, including conspiracy, fraud, and money laundering. After extradition from the Bahamas in December, he was released on a $250M bail bond secured against his parents’ California home, where he was court-ordered to stay. A trial is set for October.

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Democratic Congressman Josh Gottheimer Received $5,800 in Personal Donations from Crypto Crook Bankman-Fried

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the staff of the Ridgewood blog

Ridgewood NJ, Democratic Congressman Josh Gottheimer received $5,800 in personal donations from Bankman-Fried. Gottheimer our local congressman also received two separate donations of $2,900 each — from FTX executive Mark Wetjen, who previously worked as commissioner of the Commodity Futures Trading Commission. A spokesperson from Rep. Gottheimer’s office claims he will donate the funds to charity.

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Sam Bankman-Fried’s Crypto Empire Collapses

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the staff of the Ridgewood blog

Ridgewood NJ, Sam Bankman-Fried’s crypto empire filed for Chapter 11 bankruptcy, capping the rapid  downfall of one of crypto’s wealthiest and most influential moguls and his collection of high-flying ventures, including crypto exchanges and a massive trading operation.

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Crypto Billionaire Warns : Some Crypto Exchanges Already “Secretly Insolvent”

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the staff of the Ridgewood blog

Ridgewood NJ, Sam Bankman-Fried (SBF), the billionaire founder of FTX, believes that many third-tier exchanges are already secretly insolvent. SBF has been issuing cash infusions to save crypto companies from collapsing. The lack of regulations around crypto exchanges has made many exchanges vulnerable to scammers and hacks. FTX remains profitable and has been so for the past 10 quarters. SBF is not worried about Tether, saying that there is no evidence to support the bearish views around the stablecoin.

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