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Amidst a courtroom setting, Assistant U.S. Attorney Danielle Kudla unveiled a striking revelation: the Department of Justice’s estimation places the potential duration of this legal saga at an intriguing four to five weeks. A suspenseful legal odyssey awaits former FTX CEO Sam “SBF” Bankman-Fried, spanning a duration of at least 21 days within the hallowed halls of justice. This gripping narrative unfolds its first chapter on October 4, embarking on an epic journey that shall persist until November 9, as meticulously detailed in a freshly unveiled trial calendar, now accessible to the public eye. As the burgeoning trial calendar unfurls on September 28, the anticipation intensifies, commencing with the riveting spectacle of jury selection on October 3. The grand premiere of the Bankman-Fried trial , a pivotal moment of reckoning, is slated for October 4, marked by a profound exploration of seven formidable fraud charges laid bare before an eager audience. Within thi...

The entire world is witnessing the ordeal that followed suit after the collapse of FTX . As Sam Bankman-Fried sits under house arrest and pens down an elaborate blog post, media houses across the globe were evidently curious. Back in December, SBF was granted a $250 million bail. It has been recognized as the highest pre-trial bail bond in the history of the United States. Considering the magnitude of the bail, the judge reportedly asked two other individuals of “considerable means” to sign the bond. However, the identities of these guarantors were undisclosed. Contesting the same, eight media houses including the Associated Press, Bloomberg, CNBC, Dow Jones, The Financial Times, Insider, and the Washington Post wrote a letter to the New York District Court Judge Lewis Kaplan. Attorneys from Davis Wright Tremaine LLP were representing these media houses. According to the letter, the attorneys argued that the public entailed the right to know the guarantors of SBF . The...

With every passing day, new revelations with respect to FTX and its past are being made. A few hours back, Bloomberg reported that the bankrupt crypto exchange used its native token FTT to pay for its Blockfolio takeover deal. Citing financial statements obtained and documents reviewed, Bloomberg revealed, “FTX paid roughly $84 million in 2020 to take a majority stake in Blockfolio, in what was then among the largest crypto acquisitions. About 94% was paid in FTT tokens, a cryptocurrency that FTX created.” The report also chalked out that at the time the Blockfolio deal was announced, news outlets reported FTX financed it with a mix of cash, crypto, and equity, without giving further details. The agreement gave FTX a 52% equity stake in Blockfolio and valued the company at almost $160 million. The financial statements also showed that there was an option to buy the rest within two years. FTX , the bankrupt cryptocurrency exchange, used a token it invented to fun...