Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange, has been charged with using stolen customer funds to amass a sum exceeding $100 million in campaign contributions leading up to the 2022 US midterm elections.

Sam Bankman-Fried indicted with seven charges for using stolen funds in campaign contributions

Federal prosecutors have seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to a court filing on Friday.

Feds seized nearly $700 million from FTX founder Sam Bankman-Fried before trial

Embattled crypto trader and co-founder of FTX Sam Bankman-Fried on Thursday in a blog post laid bare his side of the issue and said he did not 'steal' the funds.

'I didn’t steal...': Sam Bankman-Fried says in a post after pleading not guilty

The attorneys for FTX have made some startling revelations at the US bankruptcy court hearing on how the crypto exchange was run by its former boss Sam Bankman-Fried, the collapse of crypto exchanges left an estimated 1 million creditors facing losses to the tunes of billions of dollars.

FTX: Startling revelations by lawyers in court; Attorneys say, 'Was run as Personal Feifdom'

FTX founder and former CEO Sam Bankman-Fried ran the now-bankrupt company as a 'personal fiefdom', according to attorneys representing the company at the first bankruptcy hearing.

Disgraced FTX founder ran the company as a 'personal fiefdom', say attorneys

Reports suggest that crypto exchange FTX was on the radar of federal prosecutors long before its recent collapse. According to a Bloomberg article that quotes persons familiar with the situation, Federal prosecutors from the US Office for the Southern District of New York were already looking into FTX's "massive exchange operations" as part of a larger investigation into cryptocurrency platforms with US and foreign subsidiaries.

FTX was under the federal radar long before its collapse: Report

The cryptocurrency exchange FTX, which applied for bankruptcy court protection in the United States, said it owed its 50 largest creditors close to $3.1 billion.

Bankrupt crypto exchange FTX owes almost $3.1 billion to top 50 creditors

Fallen far from grace, FTX founder and former CEO Sam Bankman-Fried is currently in choppy waters for leading his company to bankruptcy. While reports suggested that Sam was a top campaign contributor for Democrats, a new report has claimed that he donated significant money towards the Republican cause as well.

FTX founder Sam Bankman-Fried donated money to Republicans as well: Reports

Collapsed cryptocurrency exchange FTX suffered a "complete failure of corporate controls" under founder Sam Bankman-Fried, the company's new chief executive said Thursday, calling the situation "unprecedented.

New CEO says that FTX had 'complete failure' of controls

The recent collapse of crypto-exchange FTX has left the finance world shocked. Reports suggest that as the company stood on the threshhold of bankruptcy with panicked customers withdrawing billions from the platform, a frantic Sam Bankman-Fried "worked the phone" calling up once interested investors, engaged in a futile bid to raise $7 billion in emergency funds; money that could've saved his company.

Report reveals how FTX founder Sam Bankman-Fried begged for a rescue but failed to save his company

The collapsed-crypto exchange FTX in its bankruptcy filing indicated a "severe liquidity crisis," claiming that it may have more than 1 million creditors. "FTX faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis last Friday," said the court filing, as per Reuters.

FTX bankruptcy filing claims 'severe liquidity crisis', more than 100,000 creditors

The US authorities are moving forward to probe the collapse of now-bankrupt cryptocurrency exchange FTX. Securities and Exchange Commission, Commodity Futures Trading Commission and the Justice Department have joined forces to investigate what led to the abject failure of a multi-billion dollar company.

USA: SEC, CFTC and DoJ launch investigation into FTX's collapse

Visa Inc. on Sunday announced it was severing its ties with now-bankrupt cryptocurrency exchange FTX. “The situation with FTX is unfortunate and we are monitoring developments closely," said a Visa spokesperson.

Visa severs ties with troubled cypto exchange FTX, calls situation 'unfortunate'

Changpeng Zhao, the chief executive of cryptocurrency exchange Binance, announced on Sunday that the company no longer accepts deposits of FTX's FTT token on its platform and urged other competing exchanges to follow suit.

Binance halts FTX's FTT token deposits, urges other crypto exchanges to follow

Bankrupt Crypto trading fund FTX confirmed that there was an 'unauthorised access' to its accounts. Moments later, the embattled company's CEO announced that FTX is now switching off the option of trading or withdrawing funds, exactly how much money is involved still remains unclear.

FTX saga continues: Funds vanish at bankrupt Crypto exchange, company confirms 'unauthorised access'

Following unauthorised transactions potentially worth hundreds of thousands of dollars, the new CEO of the troubled cryptocurrency platform FTX said on Saturday that the company was making "every effort to secure all assets.

FTX says making ‘every effort to secure all assets’ after unauthorised transfers worth millions

About USD 1 billion in customer funds have vanished from troubled cryptocurrency exchange FTX, Reuters reported citing top official sources. The exchange's founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried's trading company Alameda Research, the people told Reuters.

FTX founder secretly moved $10bn of customer funds to his firm, over $1bn missing: Report

There is simply no end to the woes of Bitcoin exchange FTX and more skeletons are coming out of the closet now. Meanwhile, some experts are calling the crashing of the crypto exchange, the beginning of a financial crisis moment of 2008 for digital assets globally.

Crypto exchange FTX files for bankruptcy; CEO Sam Bankman-Fried resigns