Sam Bankman-Fried lawyers up after feeling the US authorities breathing behind his neck.
According to a Dec. 6 report from Reuters, Bankman-Fried's spokesperson Mark Botnickthe former FTX CEO has retained Cohen amid a flurry of civil litigation from investors in the crypto exchange and investigations by lawmakers and regulators in the United States. Cohen, a co-founder of law firm Cohen & Gresser, was a former assistant U.S.
Lawmakers with the U.S. Senate and House of Representatives have announced separate hearings to investigate the collapse of FTX and the potential impact on investors and traditional markets. Leadership with the House Financial Services Committee has to speak at a hearing on FTX on Dec. 13, but the former CEO suggested he would only testify after “learning and reviewing what happened.” It’s unclear whether he would speak in person or remotely from the Bahamas.under Chapter 11 in the District of Delaware on Nov. 11, following a reported “liquidity crunch” in which the firm claimed billions in leverage making it unable to meet user withdrawal demands.
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