Bankman-Fried posts bail and other major crypto news of the past week
The FTX saga continued to unfold this past week with disgraced former CEO Sam Bankman-Fried now out on bail. Some of Bankman-Fried’s associates have pleaded guilty to fraud charges and are said to be cooperating with investigators.
More exchanges published proofs of reserves in the wake of the FTX collapse. Still, such transparency efforts by crypto exchanges were dealt a blow as reports emerged that a major accounting firm was no longer willing to work with them. Disgraced former FTX CEO Sam Bankman-Fried posted bail with a $250 million bond package after being extradited to the U.S.
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