More information has surfaced purporting to reveal the lavish lifestyle of FTX co-founder and “altruist” Sam Bankman-Fried, as the failed former crypto exchange CEO is also fighting for Robinhood shares and says he needs more than clients. . In other news, Shark Tank star Mark Cuban has warned that a crypto implosion could come from the “discovery and removal of wash trades” on exchanges. Finally, experts have predicted that gold prices will skyrocket in 2023. All this just below in the latest Bitcoin.com Weekly News Review.
FTX co-founder’s alleged extravagance comes to light in bankruptcy court documents
After court filing showing FTX co-founder Sam Bankman-Fried (SBF) wants access to FTX’s $460 million in Robinhood stock, Delaware bankruptcy court documents show the FTX team spent dozens million in 2022 in housing, hotels, food and flights. In addition, SBF’s quant trading firm reportedly owes more than $55,000 to Jimmy Buffett’s beach resort Margaritaville after Alameda and FTX executives occupied 20 suites for a few months last year.
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SBF fights for Robinhood shares: says it needs them more than FTX clients who only suffer ‘possibility of economic loss’
Disgraced FTX founder Sam Bankman-Fried (SBF) is trying to regain access to his Robinhood shares, valued at more than $460 million. The former CEO of the collapsed crypto exchange claimed that he needs them to “pay for his criminal defense,” stressing that without them the consequences would be severe and “irreparable.” FTX’s clients, on the other hand, “face only the possibility of financial loss,” the SBF court filing states.
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Billionaire Mark Cuban Warns Of Coming Crypto Implosion From Laundering Operations
Mark Cuban, a Shark Tank star and owner of the Dallas Mavericks NBA team, has warned that the next crypto implosion could come from the “discovery and removal of wash trades” on centralized exchanges. The billionaire’s comments followed the collapse of cryptocurrency exchange FTX that wiped out billions of dollars in client funds.
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Gold Prices Expected to Soar in 2023: Experts Predict All-Time Highs for Precious Metals
Gold is bullish in 2023 and in the first week of the new year alone, the precious metal is up 2.36% against the US dollar. In the past 65 days, gold has soared 14.55% while silver has soared 22.31% against the dollar since November 3, 2022. According to MKS Pamp’s head of metals strategy Group, there is a “decent amount of ‘upslope’. up’ demand that has carried over from last year” for gold.
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