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Dan Chen, director of FTX-linked Deltec, joins Gemini as CFO Dan Chen, the former chief financial officer (CFO) of Deltec International, has joined Gemini, also as CFO. Deltec International is the parent company of Deltec Bank, which allegedly extended billions of dollars in credit to Alameda Research to facilitate its activities. Tether, FTX, and Alameda Research were also able to bank there. Before joining Gemini, Chen worked as vice president of capital markets and bank partnerships for Affirm. He also serves on the board of directors for Relm Insurance, a Deltec International-affiliated firm. Relm provided insurance to FTX US, FTX Australia, and other companies that faced the consequences of FTX-Alameda Research. I’m thrilled to announce that I’ve joined @Gemini as its Chief Financial Officer. I will be working alongside @cameron and @tyler and the incredible team at Gemini to unlock the next era of personal, financial, and creative freedom. Crypto is ...

Crypto lawyer John E. Deaton opined that Sam Bankman-Fried is most likely to spend multiple decades in prison after a 12-person jury unanimously found FTX’s found er guilty on all seven counts. Deaton’s view is that Bankman-Fried sealed his fate by depending on his testimony and on the chances of a hung trial. A hung trial occurs when one or more jury member finds the defendant innocent therefore prolonging deliberation and a trial.  “I will come back and eat my words if he gets lower than 10 years but I think conservatively, he gets at least 30-40 years,” said the crypto lawyer on X Spaces. Deaton posited that Bankman-Fried chose the path with the lengthiest possible sentence.  FTX’s former boss had three options per Deaton’s Analysis : Plead guilty and bank on the court’s mercy, deny the allegations and fight for a hung trial by convincing one juror of his innocence, or cooperate with the Justice Department on political donations and campaign finance charges for a lighter s...

United States v Sam Bankman-Fried continued its fourth week at trial with testimony from the FTX founder himself however, Judge Kaplan excused the jury until Oct. 27 to thrash out details of the defendants’ statements. What has been described by some as America’s largest crypto fraud case could come to a close by early November 2023, with FTX founder Sam Bankman-Fried testifying in his criminal trial for fraud on Oct. 26 per InnerCityPress. Bankman-Fried is one of four witnesses, and his testimony is expected to form the lion’s share of the defense’s bid to challenge arguments claiming that FTX’s former CEO broke federal financial laws. Defense attorneys moved for a motion to dismiss the case, arguing a deficit of evidence that proves fraud and money laundering. The FTX founder is notably on trial for seven counts of these charges.  Judge Kaplan denied the motion after federal prosecutors cited testimony from BlockFi CEO Zac Prince and alleged fraudulent transactions expos...

Mark Cohen, lead attorney for the defense in United States v Sam Bankman-Fried, said his client will take the stand and testify at a New York federal courthouse during the fraud trial for FTX’s collapse. FTX founder Sam Bankman-Fried is one of four witnesses set to testify under oath sometime between late October and mid-November of 2023. This will come after federal prosecutors call one more witness, FBI special agent Mark Troyano according to InnerCityPress. The agent will reportedly give expert Analysis on chat log and auto-delete strategies employed by Bankman-Fried while he held the reigns at his crypto exchange. This is a developing story and will be updated. Follow Us on Google News Source: https://thebittimes.com/breaking-ftx-founder-sam-bankman-fried-to-testify-in-criminal-trial-tbt67739.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Cryptocurrency News Post by: TheBitTimes.com