Sunday, June 8, 2025
News PouroverAI
Visit PourOver.AI
No Result
View All Result
  • Home
  • AI Tech
  • Business
  • Blockchain
  • Data Science & ML
  • Cloud & Programming
  • Automation
  • Front-Tech
  • Marketing
  • Home
  • AI Tech
  • Business
  • Blockchain
  • Data Science & ML
  • Cloud & Programming
  • Automation
  • Front-Tech
  • Marketing
News PouroverAI
No Result
View All Result

Legal Battle Intensifies as Bankman-Fried’s Parents Counter FTX’s Allegations

January 18, 2024
in Blockchain
Reading Time: 2 mins read
0 0
A A
0
Share on FacebookShare on Twitter


In a legal battle that could set precedents in the cryptocurrency world, Joseph Bankman and Barbara Fried, the parents of FTX founder Sam Bankman-Fried, have asked a U.S. bankruptcy judge to dismiss the lawsuit filed against them by the bankrupt crypto exchange FTX. The lawsuit, filed in September 2023, accuses Bankman and Fried of enriching themselves at the expense of FTX’s debtors. FTX alleges that the couple exploited their access and influence within the FTX empire, but Bankman and Fried deny these claims, arguing that their relationship with their son is not legally actionable​​​​.

Claims and Counterclaims

FTX’s lawsuit lacked specifics on the total sum allegedly misused by Bankman and Fried but mentioned details like Bankman’s salary, property purchases, and donations to Stanford University. Stanford has committed to returning the donations it received from the FTX Group. Bankman and Fried’s legal team from Montgomery McCracken Walker & Rhoads challenges the lawsuit’s claims, insisting on detailed accusations and a higher burden of proof. They argue that there was no fiduciary tie between them and FTX and no official positions held, questioning the legal grounds of a parent-child relationship resulting in liability​​​​.

Defense Strategy and Implications

The defense strategy focuses on the lack of evidence to hold Bankman and Fried accountable for the alleged misconduct. They demand that FTX provide concrete facts proving the parents’ “actual knowledge” of wrongful acts and call for a higher burden of proof to be met by FTX in their legal pursuit. This unfolding legal saga is not just a family affair; it’s a battle that could set precedents in the crypto world, affecting how crypto exchanges and their affiliates are held accountable in the future​​.

Image source: Shutterstock



Source link

Tags: AllegationsBankmanFriedsBattlebitcoinBlockchainCounterFTXsIntensifiesLegalNewsParents
Previous Post

Innovative Ways AI Can Be Integrated Into Streaming Platforms

Next Post

Why Security Should Be a Top Priority in Mobile App Development?

Related Posts

5 SLA metrics you should be monitoring
Blockchain

5 SLA metrics you should be monitoring

June 10, 2024
10BedICU Leverages OpenAI’s API to Revolutionize Critical Care in India
Blockchain

10BedICU Leverages OpenAI’s API to Revolutionize Critical Care in India

June 9, 2024
Arkham: US Government Seizes $300M from Alameda Research Accounts
Blockchain

Arkham: US Government Seizes $300M from Alameda Research Accounts

June 8, 2024
Fake Musk Live Streams Flood YouTube During SpaceX Launch
Blockchain

Fake Musk Live Streams Flood YouTube During SpaceX Launch

June 7, 2024
How to Track Crypto Transactions for Taxes?
Blockchain

How to Track Crypto Transactions for Taxes?

June 7, 2024
NVIDIA Enhances Low-Resolution SDR Video with RTX Video SDK Release
Blockchain

NVIDIA Enhances Low-Resolution SDR Video with RTX Video SDK Release

June 7, 2024
Next Post
Why Security Should Be a Top Priority in Mobile App Development?

Why Security Should Be a Top Priority in Mobile App Development?

Capgemini and AWS Collaborate for Generative AI Adoption

Capgemini and AWS Collaborate for Generative AI Adoption

Announcement – NFT Development Course Launched

Announcement - NFT Development Course Launched

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
23 Plagiarism Facts and Statistics to Analyze Latest Trends

23 Plagiarism Facts and Statistics to Analyze Latest Trends

June 4, 2024
Accenture creates a regulatory document authoring solution using AWS generative AI services

Accenture creates a regulatory document authoring solution using AWS generative AI services

February 6, 2024
Managing PDFs in Node.js with pdf-lib

Managing PDFs in Node.js with pdf-lib

November 16, 2023
Graph neural networks in TensorFlow – Google Research Blog

Graph neural networks in TensorFlow – Google Research Blog

February 6, 2024
13 Best Books, Courses and Communities for Learning React — SitePoint

13 Best Books, Courses and Communities for Learning React — SitePoint

February 4, 2024
From Low-Level to High-Level Tasks: Scaling Fine-Tuning with the ANDROIDCONTROL Dataset

From Low-Level to High-Level Tasks: Scaling Fine-Tuning with the ANDROIDCONTROL Dataset

June 10, 2024
Can You Guess What Percentage Of Their Wealth The Rich Keep In Cash?

Can You Guess What Percentage Of Their Wealth The Rich Keep In Cash?

June 10, 2024
AI Compared: Which Assistant Is the Best?

AI Compared: Which Assistant Is the Best?

June 10, 2024
How insurance companies can use synthetic data to fight bias

How insurance companies can use synthetic data to fight bias

June 10, 2024
5 SLA metrics you should be monitoring

5 SLA metrics you should be monitoring

June 10, 2024
From Low-Level to High-Level Tasks: Scaling Fine-Tuning with the ANDROIDCONTROL Dataset

From Low-Level to High-Level Tasks: Scaling Fine-Tuning with the ANDROIDCONTROL Dataset

June 10, 2024
UGRO Capital: Targeting to hit milestone of Rs 20,000 cr loan book in 8-10 quarters: Shachindra Nath

UGRO Capital: Targeting to hit milestone of Rs 20,000 cr loan book in 8-10 quarters: Shachindra Nath

June 10, 2024
Facebook Twitter LinkedIn Pinterest RSS
News PouroverAI

The latest news and updates about the AI Technology and Latest Tech Updates around the world... PouroverAI keeps you in the loop.

CATEGORIES

  • AI Technology
  • Automation
  • Blockchain
  • Business
  • Cloud & Programming
  • Data Science & ML
  • Digital Marketing
  • Front-Tech
  • Uncategorized

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 PouroverAI News.
PouroverAI News

No Result
View All Result
  • Home
  • AI Tech
  • Business
  • Blockchain
  • Data Science & ML
  • Cloud & Programming
  • Automation
  • Front-Tech
  • Marketing

Copyright © 2023 PouroverAI News.
PouroverAI News

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In