Techmeme
December 13, 2022, 11:30 AM

Top News

U.S. Securities and Exchange Commission:
The SEC charges Sam Bankman-Fried with defrauding investors and concealing diverting FTX customer funds to Alameda while raising $1.8B+ since at least May 2019  —  Defendant concealed his diversion of FTX customers' funds to crypto trading firm Alameda Research while raising more than $1.8 billion from investors
CNBC:
Bahamas AG Ryan Pinder and US SDNY Attorney Damian Williams confirm Bahamas police arrested Sam Bankman-Fried, who is under indictment and could be extradited  —  - The cofounder and former CEO of bankrupt crypto trading firm FTX was arrested in the Bahamas after the U.S. attorney …
CNBC:
The Southern District of New York charges SBF with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, money laundering, and more  —  - Federal prosecutors in the Southern District of New York unsealed eight separate charges against disgraced FTX co-founder Sam Bankman-Fried …
Bloomberg:
The CFTC sues Sam Bankman-Fried on fraud charges, alleging FTX “misappropriated customer funds”, violated its TOS, extended Alameda unlimited credit, and more  —  The Commodity Futures Trading Commission sued Sam Bankman-Fried, FTX and Alameda Research for violations of federal commodities laws.
Steven Ehrlich / Forbes:
A look at a draft copy of Sam Bankman-Fried's planned House testimony, including accusations against John Ray and screenshots from a chat with Changpeng Zhao  —  Sam Bankman-Fried, founder of collapsed crypto exchange FTX, was scheduled to testify Tuesday before the U.S. House of Representatives Committee on Financial Services.
Bloomberg:
FTX lawyers says Bahamas officials worked to help SBF regain access to FTX Trading's systems, asking him to mint a coin and transfer funds to island officials  —  Bahamas government officials are working closely with failed crypto magnate Sam Bankman-Fried and trying to help him regain access …
U.S. House Committee on Financial Services:
Adam James / The Block:
Changpeng Zhao seeks to reassure Binance users on USDC outflows, saying they can “withdraw any other stablecoin”; Nansen shows $1.6B in ETH outflows in 24 hours  —  - Binance CEO Changpeng Zhao has addressed major USD Coin outflows.  — Some $1.6 billion has been withdrawn …
Reuters:
China files a trade dispute at the WTO against the US over its chip export controls, arguing the curbs threaten the stability of global industrial supply chains  —  China has launched a trade dispute at the World Trade Organization against the United States over its chip export control measures, China's commerce ministry said.
Cat Zakrzewski / Washington Post:
Urvi Dugar / Reuters:
Elon Musk says Blue subscribers will see half the number of ads as non-subscribers and that Twitter plans to offer a higher tier with no ads in 2023  —  Twitter owner Elon Musk tweeted on Monday that Twitter's Basic blue tick will have half the number of advertisements and the social media platform …
Platformer:
Sources: on December 11, Twitter briefly blocked traffic from ~30 mobile carriers, mainly in the Asia-Pacific region, in an attempt to rid Twitter of spam  —  PLUS: Why it's time to start leaving Twitter behind  —  On Sunday, Elon Musk tweeted a vague warning: “the bots are in for a surprise tomorrow.”

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