Google engineer Michele Spagnuolo is charged with insider trading after allegedly using confidential search data to win over $1.2 million betting on Polymarket. This is the second major insider trading case linked to the prediction market platform.
Posts tagged as “Alameda Research”
Sam Bankman-Fried, a 31-year-old former cryptocurrency billionaire, has been found guilty of seven counts of fraud, conspiracy and money laundering in a federal jury in New York City. The charges include two counts of wire fraud conspiracy, two counts of wire fraud, one count of conspiracy to commit money laundering, one count of conspiracy to commit commodities fraud and one count of conspiracy to commit securities fraud. The maximum sentence for all seven counts is up to 95 years in prison.
Caroline Ellison, former CEO of Alameda Research, is testifying in the criminal trial of Sam Bankman-Fried, who is facing seven federal charges including wire fraud, securities fraud and money laundering. Ellison claims Bankman-Fried's philosophy made her "more willing to do things like lie and steal over time" and that the collapse of FTX left her feeling "relief that I didn't have to lie anymore." Her testimony is a key part of the prosecution's case against Bankman-Fried, and is expected to continue for the remainder of the week.
Former Employee Testifies Against Crypto Trading Firm Co-Founder Sam Bankman-Fried in New York Court
Former Employee Testifies Against Crypto Trading Firm Co-Founder Sam Bankman-Fried in New York Court
Caroline Ellison, a former employee of the now-defunct crypto trading firm FTX, has testified against its co-founder Sam Bankman-Fried in a New York court. Ellison has pleaded guilty to fraud and money laundering charges, and is the only witness to the alleged crimes. Bankman-Fried has denied any wrongdoing, and the trial is expected to continue for several more weeks, with the outcome potentially setting a precedent for holding crypto executives accountable for their actions.
Samuel Bankman-Fried, the founder of cryptocurrency trading firm FTX, was ordered to be sent to jail on Friday by a federal judge in New York. The Justice Department has accused Bankman-Fried of a “pattern of witness tampering and evading his bail conditions”, which included trying to influence witnesses in his fraud case and reaching out to witnesses in violation of his bail conditions. Bankman-Fried is currently being held in a federal detention center, and his case is ongoing.
Bed Bath & Beyond Files for Bankruptcy Protection, Citing Struggles to Compete with Online Retailers
Bed Bath & Beyond Files for Bankruptcy Protection, Citing Struggles to Compete with Online Retailers
Bed Bath & Beyond has filed for bankruptcy protection in the U.S. District Court in New Jersey, with assets and liabilities estimated to be between $1 billion and $10 billion. The company plans to remain open and continue serving customers while conducting a limited marketing process to solicit interest in one or more sales of its assets. This filing follows years of declining sales and losses, as the company has been unable to compete with online and discount retailers.
Sam Bankman-Fried, co-founder of the now-defunct cryptocurrency firm FTX, has been charged with a 13th criminal count of bribery by federal prosecutors. The new indictment accuses Bankman-Fried of bribing “one or more” Chinese government officials with $40 million in 2021 in an effort to unfreeze accounts belonging to his hedge fund. Bankman-Fried has already pleaded not guilty to eight criminal counts of fraud and conspiracy, and faces up to 20 years in prison if convicted. The case is being closely watched by the cryptocurrency industry as Bankman-Fried was one of its most prominent figures prior to his arrest.
Apple announced Wednesday that it will raise the price of battery replacements for all out-of-warranty iPhone models prior to the current iPhone 14 lineup. Starting…