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Sam Bankman-Fried: FTX boss testifies in fraud trial – after jury sent home | Business News
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Former crypto tycoon Sam Bankman-Fried has taken the stand in his fraud trial – after the jury in the case was sent home for the day. US District Judge Lewis Kaplan said he wanted to hear the 31-year-old’s evidence first, without jurors, on Thursday before deciding which portions would be admissible. The surprise move was…
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Sam Bankman-Fried: Fallen crypto king wanted to be US president, star witness Caroline Ellison tells fraud trial | Science & Tech News
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A star witness has given evidence at the trial of fallen crypto entrepreneur Sam Bankman-Fried – telling the court he directed her to commit fraud. Caroline Ellison was the CEO of Alameda Research – a hedge fund linked to the doomed FTX exchange – and used to be the one-time billionaire’s girlfriend. She told the…
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Sam Bankman-Fried trial: FTX boss stole over $10bn from customers in ’empire built on lies’, jury told | US News
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The trial of embattled crypto executive Sam Bankman-Fried has begun – with prosecutors claiming he stole more than $10bn (£8.2bn) from unsuspecting customers. Almost a year after FTX spectacularly collapsed, leaving millions of people out of pocket, a court heard that the 31-year-old’s multibillion-dollar empire was “built on lies”. Bankman-Fried has been accused of using…
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Who is Sam Bankman-Fried, the former ‘King of Crypto’ on trial for fraud? | Science & Tech News
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Sam Bankman-Fried, also known by the initials SBF, has tumbled from crypto king to courtroom defendant. The trial of the founder of the FTX cryptocurrency exchange is due to start on Tuesday 3 October. The fraud charges against him – which he denies – stem from the November 2022 collapse of his now-bankrupt business. But…
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Artificial intelligence: ChatGPT creator Sam Altman expresses concern about ‘under-regulation’ | Science & Tech News
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The CEO of the company that made ChatGPT has said he is concerned about the “under-regulation” of artificial intelligence (AI). Sam Altman, CEO of the startup OpenAI, which is backed by Microsoft, said: “People in our industry bash regulation a lot. We’ve been calling for regulation, but only of the most powerful systems. “Models that…
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Sam Bankman-Fried ‘subsisting on bread and water’ as jail denies him vegan meals | US News
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Lawyers for the controversial cryptocurrency trader Sam Bankman-Fried have said he is subsisting on bread, water and peanut butter ahead of his fraud trial because the jail he is being held in has not provided vegan meals. Bankman-Fried, the founder of FTX cryptocurrency exchange, was extradited from the Bahamas in December after prosecutors said he…
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Sam Bankman-Fried: Disgraced FTX boss ‘donated stolen customer funds to politicians’ | Science & Tech News
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Disgraced crypto entrepreneur Sam Bankman-Fried used stolen customer money to make political donations, prosecutors have alleged. The 31-year-old, whose £21bn FTX empire collapsed last year, is accused of making north of $100bn (£79bn) in campaign contributions during the 2022 US midterms. He is said to have directed two of his company’s executives to send cash…
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Sam Bankman-Fried: FTX founder and ‘crypto king’ has bail revoked for alleged witness tampering | US News
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Disgraced FTX founder Sam Bankman-Fried has had his $250m (£197m) bail revoked and has been sent to jail after alleged witness tampering. US District Judge Lewis Kaplan made the decision after prosecutors said Bankman-Fried had tried to harass a key witness in his fraud case last month. The 31-year-old was charged with defrauding investors in…
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Who is Sam Altman? The OpenAI boss and ChatGPT guru who is now one of AI’s biggest players | Science & Tech News
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He was a tech whizz before he left primary school, dropped out of one of America’s top universities, and now appears to be spearheading a revolution that could change our lives forever. So far, so Silicon Valley. And like so many of the billionaire entrepreneurs that have emerged from that infamous stretch of sunny California,…
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FTX’s Sam Bankman-Fried charged with bribing Chinese officials | Business News
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Disgraced FTX founder Sam Bankman-Fried has been charged with bribing Chinese officials with payments of at least $40m (£32.4m). Prosecutors have accused him of directing the payment to unfreeze accounts belonging to his hedge fund linked to FTX. The accounts of his trading firm Alameda Research, which Chinese authorities had frozen, are said to have…