In the latest development from the FTX bankruptcy, the founder SBF’s wallets are under the scrutiny. US regulators have launched an investigation into the former CEO’s crypto transactions.
FTX founder SBF under review
The US government has launched an investigation into the alleged crypto transactions of FTX founder Sam Bankman-Fried. According to recent reports, federal prosecutors are investigating a number of transactions linked to Bankman-Fried-related wallets. Data tracker Arkham Intelligence estimates these funds are worth more than a million dollars. SBF previously stated that he only had $100,000 in his bank account. As Kriptokoin.com, we have included the details in this article.
Blockchain analysts have been monitoring the movements of funds linked to wallets associated with SBF and Alameda in recent days. Bankman-Fried denied the accusations in a tweet on Friday. He stated that he was not the one who carried out these proceedings.
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
The crypto community, on the other hand, believes SBF is lying. They also suspect that the FTX founder transferred more than $684,000 to a Seychelles exchange while under house arrest in the US.
https://twitter.com/BowTiedIguana/status/1608653434387050496
FTX scandal
Bankman-Fried held court earlier this month for his role in FTX’s bankruptcy. Attorneys for the Southern District of New York investigated mysterious transactions that occurred recently. They also examined whether Bankman-Fried was redistributing his own funds. The legal process wants to know how these transactions could have taken place without their consent.
But SBF is on bail of $250 million. This development took place a week ago. Currently, he is prohibited from making financial transactions of $1,000 without a judge’s approval, except for fees or legal costs. At this point, it’s unclear whether he’s ignoring these conditions. On the other hand, on January 3, 2023, the SBF agreed to file a criminal complaint against the criminal allegations before US District Judge Lewis Kaplan in Manhattan federal court.
Former FTX CEO may admit his mistake
According to a recent Wall Street Journal report, the SBF is poised to plead guilty to the coming charges. One of the attendees stated that Bankman-Fried will arrive in person in New York, possibly on January 3, to present his defense specifically. Earlier this month, the US prosecutor’s office for the Southern District of New York accused the former billionaire of illegal conduct. This caused the crypto exchange to crash and he claimed to be the commander of one of the biggest financial scams in American history.
Meanwhile, Caroline Ellison, former CEO of Alameda, and Gary Wang, former CTO of FTX, admitted their mistake. Therefore, the SBF’s refusal to admit its guilt contradicts this. However, the move was widely anticipated, as he blamed erroneous records and bank accounts for the illegal transfer of funds to Alameda Research prior to his arrest.
22481
