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Crypto Buzz: SBF Updates > Another Major Fraud > And More…

Posted January 09, 2023

Matt Insley

By Matt Insley

Crypto Buzz: SBF Updates > Another Major Fraud > And More…

It’s a new year but the focus of the crypto world hasn’t changed. So without further ado, here’s what’s going on with Sam Bankman-Fried… 


SBF Pleading Not Guilty

Former FTX CEO and former billionaire, Sam Bankman-Fried, is planning to enter a plea of “not guilty” to all fraud charges.

Meanwhile, his former business-partner Caroline Ellison has pleaded guilty to her respective charges and is reportedly cooperating with officials.

Bankman-Fried faces up to 115 years in prison if convicted.

You can read the full story here.


Seized Robinhood Shares

The Department of Justice has seized $456 million worth of shares in Robinhood from Sam Bankman-Fried.

SBF had been contesting to keep the shares, as he required them for legal defense.

In an early contender for the most tone-deaf statement of 2023, Bankman-Fried asserted that he risked prison time while the FTX investors he defrauded “face only the possibility of economic loss”.

You can read even more nonsense he said here.


More Fraud News

Crypto’s second biggest villain, Alex Mashinsky, is facing accusations of defrauding investors.

The accusations against the former CEO of the crypto hedge fund Celsius come from Letitia James, the Attorney General of New York, who said in a statement…

As the former CEO of Celsius, Alex Mashinsky promised to lead investors to financial freedom but led them down a path of financial ruin

Investors were enticed with yields as high as 17% prior to the fund’s total $20 billion collapse.

You can see the extent of the legal action Mashinsky is facing by reading more here.


YouTube Drama

YouTuber Logan Paul has abandoned his plans to sue internet detective Stephen “Coffeezilla” Findeisen for fraud, following a video Findeisen released describing Paul’s project, CryptoZoo, as a scam.

Logan Paul apparently took his own advice to Coffeezilla of “getting a good lawyer”, as he decided to instead take accountability and apologize to Findeisen.

Paul added in his apology…

I’m grateful he brought this to light. I will be taking accountability, apologizing, and coming forward with a plan in the near future

You can read the full story here.

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