Beautiful Virgin Islands

Tuesday, Jul 01, 2025

Judge orders Sam Bankman-Fried to be blocked from accessing or transferring any FTX or Alameda assets

Judge orders Sam Bankman-Fried to be blocked from accessing or transferring any FTX or Alameda assets

A New York federal judge approved prosecutors' request to restrain Sam Bankman-Fried from making any transactions with assets of FTX and Alameda.
Sam Bankman-Fried has been blocked from accessing and making transfers involving Alameda and FTX assets, after a recent report in Cointelegraph that indicated that some Alameda crypto assets had been moved around in December.

US district judge Lewis Kaplan, who presided over Bankman-Fried's arraignment on Tuesday in which the FTX and Alameda founder pleaded not guilty, granted prosecutors' request to restrain him from such transactions. 

Bankman-Fried, who has been released and staying with his parents in California under the terms of a $250 million bail agreement, had tweeted on Friday that he wasn't involved in any of the transactions referenced in the Cointelegraph report.

"I'm not and couldn't be moving any of those funds; I don't have access to them anymore," he wrote. 


At the hearing Tuesday, assistant US attorney Danielle Sassoon said that while she could not be sure who accessed the Alameda accounts, the transfers had now moved those funds outside the government's reach for the purpose of asset forfeiture.

Sassoon said that prosecutors had little reason to believe Bankman-Fried's tweet, and that he lied in previous tweets where he denied using FTX customer funds and had tried to move cryptocurrency assets to foreign regulators in order to avoid the consequences of FTX's bankruptcy.

"We don't put much stock in that," she said.

Bankman-Fried's attorney Mark Cohen vehemently opposed the condition. He said Tuesday that the transfers were done at the order of a court in the Bahamas, where FTX is undergoing bankruptcy proceedings parallel to ongoing proceedings in Delaware, and that Bankman-Fried wasn't involved.

Kaplan's ruling blocks Bankman-Fried from those transactions, though it allows him to come to an agreement with prosecutors about a possible different arrangement.

"It seems to me that the condition is reasonable," Kaplan said.

On Tuesday, Kaplan set October 2 as a date for a trial, though Bankman-Fried could work with prosecutors to negotiate a plea deal before then. He is facing eight counts including wire fraud and conspiracy charges.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
Russian Shadow Payments via Cryptocurrency Reach $9 Billion
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
×