Sam Bankman-Fried: Charged With Fraud By SEC
“The [SEC] today charged Bankman-Fried with orchestrating a scheme to defraud equity investors in [FTX], the crypto trading platform of which he was the CEO and co-founder,” the agency said in a statement.
“Investigations as to other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing.”
According to a court filing, FTX owed its 50 largest creditors almost $3.1bn (£2.5bn).
Among the most serious allegations against Mr Bankman-Fried is that he used billions of dollars of customer funds to prop up his investment trading company, Alameda.
“I didn’t knowingly commit fraud, I don’t think I committed fraud, I didn’t want any of this to happen. I was certainly not nearly as competent as I thought I was,” he told the BBC.
The researchers added a techie dimension by conducting electroencephalographic (EEG)recordings of the sleeping participants brains to track neural electrical activity during the learning period.
