Share this article
Sign Up
- Back to menuCryptocurrencies
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
SEC Case Against Bankman-Fried Postponed Pending Criminal Trial
Charges can wait until the Department of Justice’s case against the FTX founder concludes, a judge said.
The U.S. Securities and Exchange Commission’s case against FTX founder Sam Bankman-Fried will be put on hold until related charges brought by the Department of Justice are dealt with, a U.S. judge said in a Feb. 13 ruling.
U.S. prosecutors last week said a pause would save time and resources, as the DOJ case against Bankman-Fried will likely influence overlapping civil cases. The SEC said Bankman-Fried used customer funds for his lavish lifestyle.
STORY CONTINUES BELOW
On Tuesday, another civil case brought against the disgraced founder by the U.S. Commodity Futures Trading Commission was also delayed until after the criminal trial.
In December, Bankman-Fried was arrested following the collapse of FTX, and has pleaded not guilty to criminal charges brought against him by the DOJ, which include wire fraud and money laundering.
Read more: US SEC Charges Sam Bankman-Fried for Defrauding FTX Investors
Jack Schickler
Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He previously wrote about financial regulation for news site MLex, before which he was a speechwriter and policy analyst at the European Commission and the U.K. Treasury. He doesn’t own any crypto.
More For You
Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
Top Stories
