The Friday Focus: Issue 64

Sam is finally arrested and is now facing numerous charges in another FTX-related week. Let’s dive into it!

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Sam Bankman-Fried and FTX are the main talking points again this week. SBF got arrested this week in the Bahamas and both the Department of Justice, the SEC, and the CFTC have filed charges against him, FTX and Alameda. Simultaneously, two FTX hearings took place in the US. The testimony from the new FTX CEO indicated that user funds were commingled with Alameda assets, that the firm had extremely sloppy accounting practices, and revealed that FTX US was not, in fact, operated independently of FTX.com. Moreover, one FTX executive outed SBF to Bahamian regulators two days before the bankruptcy filing and Alameda CEO Caroline may be working against SBF as a witness already.

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