Sam Bankman-Fried pleads not guilty to new charges

Disgraced FTX founder Sam Bankman-Fried made his first appearance after spending 10 days in jail

article-image

Stanslavs/Shutterstock modified by Blockworks

share

Sam Bankman-Fried pleaded not guilty to seven fraud and conspiracy charges in a Manhattan federal court on Tuesday. 

The new charges, handed down on Aug. 14, came after prosecutors alleged Bankman-Fried used more than $100 million in stolen customer funds to line the pockets of electoral candidates and politicians. 

His bail was revoked after the US Department of Justice alleged that Bankman-Fried “repeatedly” tried to “corruptly influence witnesses and interfere with a fair trial through attempted public harassment and shaming,” per the hearing. 

The disgraced FTX founder has been permitted to meet with his attorneys on weekdays from 8:30 am to 3 pm ET, per court filings. 

Federal Election Commission data shows that Bankman-Fried personally gave more than $40 million in political donations in 2022. Ryan Salame, Bankman-Fried’s former co-CEO, and Nishad Singh, former director of engineering at FTX, were also big donors. Salame gave nearly $23 million almost exclusively to Republicans and related PACs, while Singh gave $8 million during the 2022 midterm election cycle. 

Read more: US prosecutors drop campaign finance charges against SBF

The court appearance was Bankman-Fried’s first since his bail was revoked on Aug. 11. He has since been held in custody at the Metropolitan Detention Center in Brooklyn, where, his legal team said Tuesday, he has been denied a vegan diet. 

Bankman-Fried’s trial is set for Oct. 3.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

ao cover.jpg

Research

Arweave recently launched the testnet for AO computer, a new messaging protocol that will sit atop a PoS network and aims to become a scalable global compute platform through parallel processing and modularity.

article-image

Ore’s price more than tripled as the supply of new tokens paused

article-image

I spend an unhealthy amount of time thinking about crypto securities law — and I can’t see how ETH is now a securities offering under Howey

article-image

Regulators in South Korea, Japan and Singapore could follow Hong Kong’s lead as Asia responds to spot bitcoin ETF approval in the US

article-image

Martin Grant worked with the Fed for roughly 30 years before leaving his position in 2022

article-image

BitGo CEO Mike Belshe shared his thoughts on the halving and bitcoin ETFs in an interview with Blockworks

article-image

Crypto markets were largely the only ones open over a tense weekend, and they took a beating for it