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‘House of cards’: U.S. charges SBF with fraud, diverting FTX funds to political campaigns

Sam Bankman-Fried is in a lot of trouble. Damian Williams, U.S. attorney for the Southern District of New York, laid out the government’s case against the former FTX CEO at a press conference Tuesday afternoon, charging him with eight financial crimes and alleging he defrauded FTX’s customers and investors, as well as lenders to its sister trading firm Alameda, of billions of dollars. Williams alleged Bankman-Fried also violated federal campaign finance laws by funnelling stolen customer funds into tens of millions of dollars’ worth of political campaign contributions and covering up their source. 

And that’s not all that happened to crypto’s former golden boy over the past 24 hours. Here’s what else you need to know: 

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