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FTX founder Sam Bankman-Fried has been arrested in the Bahamas

TechCrunch

Sam Bankman-Fried has been arrested by The Royal Bahamas Police Force following reports that the United States filed criminal charges against the founder and former CEO of cryptocurrency exchange FTX , and is likely to request his extradition. He has repeatedly claimed ignorance of any wrongdoing.

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Sam Bankman-Fried launches Substack: ‘I didn’t steal funds, and I certainly didn’t stash billions away’

TechCrunch

In a post titled “FTX Pre-Mortem Overview,” Bankman-Fried maintains his innocence surrounding the collapse and bankruptcy of FTX, a cryptocurrency exchange he founded in 2019 that went on to raise $2 billion in funding and achieve a valuation of a staggering $32 billion. His trial date has been set for October 2, 2023. Last month, a U.S.

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SBF claims massive ignorance on obvious conflicts in FTX downfall

TechCrunch

One of the biggest questions around this debacle is if there was any misuse of funds between Alameda and FTX. As a result, it used FTX customer funds to make lenders whole; a move that both showed Alameda’s lack of assets, and triggered part of the crash when FTX customers began the crypto exchange equivalent of a run on the bank.

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Flying taxi startup Lilium will build a hub for its electric aircraft in Florida

The Verge

It will work with the primary real estate developer in the area, Bahamas-based Tavistock Development Company, on the development and construction of the vertiport. But the funding round fell short of the $400–500 million that TechCrunch reported the company was pursuing last October.

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Who’s profiting from the Bored Ape digital land sale?

TechCrunch

Decrypt wrote that “OpenSea set a new one-day record for Ethereum NFT trading on Sunday with $476 million,” with the publication adding that “much” of the sum came from Otherdeed activity. Crypto Bahamas signals stronger ties between old and new worlds of finance.

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New data for strategic disaster philanthropy 

Candid

Hurricane Dorian caused catastrophic damage in the Bahamas and parts of the eastern United States. Based on the latest available data, this report documents $30 billion in private, public, corporate and individual disaster-related giving to address major disasters and humanitarian crises that affected millions globally in 2019.

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FTX processed billions monthly in Africa before going bust

TechCrunch

Most FTX customers have been unable to withdraw their funds from the platform as the Bahamas-headquartered company goes through bankruptcy proceedings. It’s public record that it never happened. I mean, it’s unfair and just goes back to the who gets funded question, which I think is the real story here.”.

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