Crypto Biz: SBF has his day in court; Barry Silbert accused of ‘stalling’ over frozen funds
After Sam Bankman-Fried was handed over to United States officials last month, his top lieutenants — Caroline Ellison and Gary Wang — had already been cooperating with the feds. The two pleaded guilty to a slew of charges and agreed to assist the Southern District of New York to investigate FTX and their former boss. SBF had his day in court on Jan. 3 and pled not guilty to all criminal charges.
As the saga surrounding SBF and FTX intensified, crypto capital market company Digital Currency Group was facing problems of its own. Its CEO, Barry Silbert, has been accused of “stalling tactics” over frozen funds.
This week’s Crypto Biz dissects the latest on SBF, Digital Currency Group (DCG) and Core Scientific.
SBF pled not guilty to all criminal charges related to the collapse of FTX, setting the stage for what’s likely to be a four-week trial beginning Oct. 2, 2023. The disgraced founder of the now-bankrupt exchange faces eight criminal counts and up to 115 years in prison for his alleged role in defrauding investors and money laundering. We know that FTX co-founder Gary Wang and former Alameda CEO Caroline Ellison have already pled guilty to similar charges — effectively rolling over on SBF, presumably for more favorable sentences. The SBF saga is only just getting underway. Prepare yourself accordingly.
Sam Bankman-Fried has arrived in court for his arraignment. We’re told he will plead not guilty to all the charges against him. pic.twitter.com/yakSLkOus8
Barry Silbert was put on blast this week by none other than Cameron Winklevoss in an open letter penned on Jan. 2. Cameron’s gripe stems from crypto lending firm Genesis Global, which is part of Barry Silbert’s Digital Currency Group. At the time the letter was penned,
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