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Longtime Stanford University professors Joseph Bankman and Barbara Fried — the parents of Sam Bankman-Fried — were sued by the now-bankrupt cryptocurrency company FTX on Monday. In the lawsuit, filed in federal court in Delaware, the couple is accused of using FTX funds to enrich themselves and give to their “pet causes,” including millions of dollars in donations to Stanford. The lawsuit alleges that both Bankman and Fried “fraudulently transferred and misappropriated” tens of millions of dollars in total from FTX. They were also given a 30,000-square-foot $16.4 million home in the Bahamas and a $10 million cash gift by...

Sam Bankman-Fried appeared Tuesday at a hearing in the Bahamas with his parents in attendance, according to multiple reports, including from The New York Times and the cryptocurrency site CoinDesk. At the hearing, which largely focused on whether Bankman-Fried would be released on bail, the former FTX CEO indicated that he was not waiving his right to challenge his extradition to the US, the CoinDesk report said. The site, which was reporting live from Nassau in the Bahamas, broke the news in November of the financial links between FTX and Bankman-Fried's trading firm, Alameda Research. During the proceedings, Bankman-Fried's mother,...

As Joe Bankman and Barbara Fried sat in a Bahamian courtroom Tuesday, the popular Stanford law professors had to be worried about more than whether their FTX founder son, Sam Bankman-Fried, will go to prison for orchestrating what a federal prosecutor described as “one of the biggest financial frauds in American history.” The couple also have to be concerned about their own legal jeopardy, a criminal law expert said, given reports that they were involved, at some level, in their son’s efforts to build his allegedly fraudulent cryptocurrency exchange into a $32 billion business. They face scrutiny on multiple fronts...

The founder and former CEO of collapsing crypto trader Sam Bankman-Fried is said to be holed up with members of his inner circle in the Bahamas while his empire collapses around him. Bankman-Fried, 30, resigned from FTX on Friday, as the crypto exchange filed for bankruptcy and reports emerged that up to $2 billion in client funds had vanished from the company's books in recent weeks. According to Coin Telegraph, the disgraced former CEO is holed up at the Albany Tower alongside FTX co-founder Gary Wang and the company's director of engineering Nishad Singh.

So the red wave ended up not happening, being something more of a pink puddle instead. Has America just become too gerrymandered and partisan for there to be “yuge” wave elections like there used to be? Perhaps. Maybe we need to also not run horrible candidates.Regardless, there are fortunately a few salty letfist tears to sip on after yesterday.Those would be the tears of one of the biggest Democrat donors, Sam Bankman-Fried. He ran a crypto company called FTX that was first valued in 2021 at $18 billion, then exploded upward to a whopping $40 billion, at which point Bankman-Fried...

Sam Bankman-Fried, the former CEO of the collapsing cryptocurrency company FTX, along with two others associated with the company, director of engineering Nishad Singh and co-founder Gary Wang, are "under supervision" in the Bahamas after the trio reportedly were planning on fleeing to Dubai. According to Cointelegraph, "Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas, which means it will be hard for them to leave."

Mind the Gap, the secretive group quietly reshaping big-money politics in Silicon Valley, is aiming to spend as much as $140 million to boost Democrats in the 2020 election ... one of the most powerful forces in Democratic politics. And the group is accomplishing this all behind the scenes — without any prior public scrutiny. This network of Silicon Valley donors raised $20 million for Democratic causes and congressional candidates in advance of the midterms. But the group has far greater ambitions in a presidential cycle: Mind the Gap told prospective donors last fall that it had already raised at...