FTX News: FBI Raids Home Of Top FTX Official Ryan Salame

Salame Was Among SBF’s Close Aids

Salame, who oversaw FTX’s Bahamian branch, was a trusted advisor to FTX founder Sam Bankman-Fried until the company filed for bankruptcy in December. Salame has been the subject of extreme scrutiny because of the $24 million he donated to political candidates in last year’s midterm elections.

advertisement

Read More: Coinbase CEO Hits Back At U.S. SEC, Says “Coinbase Does Not List Securities”

Data suggests Salame was one of the top political donors in the United States after contributing millions of dollars to predominantly Republican candidates and causes. The federal authorities have asserted, in documents filed with the court, that the majority of the $90 million which was donated to political candidates by a small group of former FTX employees, including Mr. Salame, was stolen from consumers of the exchange.

Reason For Raid Remains Unknown

Bitcoin Campaign

The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT.

Trending Stories
SOL Price Prediction
SOL Price Prediction: Bullish Pattern Sets Solana Price for 22% Rise; Enter Today?
24/7 Cryptocurrency News
XRP Price Prediction
XRP Price Prediction: XRP Price Coiling Up Before a Massive Move; Enter Now?
24/7 Cryptocurrency News
Ethereum (ETH) Withdrawn After Shanghai (Shapella) Upgrade: Details
ETH Price Prediction: New Recovery Cycle in Ethereum Price Hints a 10% Rally Ahead
24/7 Cryptocurrency News
pepe coin crypto news
PEPE Price Prediction: This Chart Pattern may Determine if PEPE Token Price will Rally 70% or Fall 40%
24/7 Cryptocurrency News
bitcoin news crypto
Bitcoin Price Reversal from a Healthy Retracement Level Hints 6% Jump; Enter Today?
24/7 Cryptocurrency News
Signup Ad

According to the report published by New York Times, the search of Salame’s $4 million residence took place at approximately 7 in the morning and it’s not yet apparent what the motive was or what the authorities eventually found throughout the course of the search.

The raid takes place in the midst of a lengthy federal inquiry into the demise of FTX, which occurred in November of last year and shook the crypto market in and out. As the proceedings draw closer to a formal trial scheduled for October 2023, the 31-year-old crypto mogul Sam Bankman-Fried currently remains in house arrest after paying a whopping $250 million for bail. SBF has pleaded not-guilty to all counts of charges levied against him.

In the wake of this FTX news, the exchange’s native cryptocurrency FTT, witnessed a drop of roughly 1.41% in the past one hour. As things currently stand, the price of FTT is exchanging hands at $1.49 and boasts a market cap of roughly $510 million.

Also Read: Google & Polygon Join Forces To Boost Network Growth, MATIC Price Set To Rally?

Comments

Post a Comment

Popular posts from this blog

Bitcoin Price Prediction: Here’s Why BTC Is Failing to Move Above $30k

Image
The largest cryptocurrency has according to on-chain insights from CryptoQuant “been lodged within a narrow corridor for the past three months.” The on-chain analytics platform claims that the answer lies in the protocol’s fundamental factors such as supply and miner activity. advertisement While we will explore Bitcoin’s fundamental position in a bit, BTC is still feeling the pinch of an aggressive bear camp – down 1% to $30,005. Trading volume is up to $14 billion with its market capitalization holding at $582 billion. The largest altcoin appears to be following in BTC’s footsteps, down 1.6% to $1,898. As discussed in the previous Analysis , Ethereum price must reclaim $1,900 support to keep the resumption of the uptrend above $2,000 intact. What’s Next if Bitcoin Price Loses $30,000 Support? The Bitcoin price consolidation in a narrow rectangular pattern, as shown on the daily chart reveals that the tug of war between bulls and bear is close to its tensile l
Read more

Japan Edges Toward Corporate Crypto Tax Reform

Image
Source: Oka/Adobe Japan is inching closer to reforming its strict crypto tax laws for corporations – in a bid to stop an “exodus” of crypto talent and capital from flowing overseas. Pressure to reform has mounted in recent years, with industry figures and opposition leaders alike all calling for change. More recently, the top financial regulator, the Financial Services Agency (FSA), has signalled that it also wants to modify the restrictive laws. But a final step in this process is approval from the National Tax Agency (NTA). But while the NTA is yet to publicly signal it will make the change, analysts believe that it is working on a tax reform bill that it hopes to unveil in parliament in the coming months. Late last week, the NTA released a set of FAQs that address the matter of crypto taxation. And while these did not directly make mention of any coming reform, Junya Izumi, an Associate Professor of Tax Law at the Chiba University of Commerce, pointed out on Twit
Read more

Bitcoin Price Holds At $27,400 – Will US Unemployment Claims Be The Catalyst?

Image
Bitcoin (BTC) price is back in the $27,000 zone with no signs of an exit soon. The king crypto is consolidating between the $28,551 and $26,578 zone as market players hope for a significant catalyst to trigger a rally. According to economists, United States unemployment claims could have a bearing on Bitcoin price as the number of Americans filing new claims for jobless benefits has been increasing. Nevertheless, as interest rates continue to increase, the U.S. labor market is gradually softening. Based on recent revelations, the U.S. economy added 253,000 jobs in April; the unemployment rate fell slightly to 3.4%. We just learned we created 253,000 jobs in April. That's 12.7 million jobs since I took office, an un employment rate that is the lowest since 1969, and the highest share of working age people in the workforce since 2008. My plan to invest in America is working. — President Biden (@POTUS) May 5, 2023 The following is a description of how U.S. un employment is a
Read more