Bankman-Fried may enter plea in NY federal court next week before Judge Lewis Kaplan
Former FTX CEO Sam Bankman-Fried is scheduled to appear in court on the afternoon of Jan. 3 to enter a plea on two counts of wire fraud and six counts of conspiracy against him in relation to the collapse of the FTX cryptocurrency exchange. After being released on a $250 million bail bond, Bankman-Fried reportedly met with Michael Lewis, author of The Big Short: Inside the Doomsday Machine, a bestseller that was turned into a movie, spurring speculation that a film about the disgraced exchange’s saga is on the way.
SBF borrowed $546M from Alameda to fund Robinhood (NASDAQ:HOOD) share purchase
In another headline related to Sam Bankman-Fried, an affidavit by the founder of FTX revealed that he previously borrowed over $546 million from Alameda Research to fund a purchase of Robinhood shares. Later, those same shares were used by Bankman-Fried as collateral for a $600 million loan taken by Alameda from digital asset lender BlockFi. The shares are currently frozen and are worth around $450 million. BlockFi filed a lawsuit seeking to receive the collateral shares in November.
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