Bankrupt crypto exchange FTX on Monday sued the parents of founder Sam Bankman-Fried, saying that Stanford professors Joseph Bankman and Barbara Fried used the company to enrich themselves at the expense of FTX’s customers.

Crypto firm FTX sues founder Bankman-Fried’s parents over misappropriation of funds

The bail plea of Sam Bankman-Fried, the former CEO of now defunct cryptocurrency exchange FTX, was revoked and he will now head towards prison for allegedly tampering with witnesses.

Former FTX CEO Sam Bankman-Fried’s bail revoked for witness tampering, heads to prison

Embattled crypto trader and co-founder of FTX Sam Bankman-Fried was released on $250 million bail a day after accepting to be extradited from the Bahamas. The 30-year-old crypto mogul faces eight criminal charges, including wire fraud, money laundering and campaign finance violations.

FTX co-founder Sam Bankman-Fried released on $250m bail

In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange’s software. He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off Alameda's assets if it was losing too much borrowed money.

How a secret software code change allowed FTX to (mis)use client money

As per reports, Bahamian police questioned FTX founder Sam Bankman-Fried on Saturday

WION Business News | FTX's Sam Bankman-Fried questioned by Bahamas Police