The Blubber

Per Business Insider

Disgraced FTX founder Sam Bankman-Fried reportedly deleted tweets and a Slack message despite being told the complete opposite. This happened when SBF was reportedly told to preserve records for the regulators.

The ongoing investigation's recent developments saw the founder receiving four new charges by the prosecutors as it was said that SBF created a company without employees to circumvent getting a bank account. In the process of doing so, the founder had to give false statements to the bank unlawfully.

The new charges against the disgraced FTX founder reportedly included conspiracy to commit bank fraud as well as conspiracy to operate an unlicensed money-transmitting business. The filing, however, did not specifically mention the bank's name.

The prosecutors are saying that SBF deleted multiple messages, which include its own FTX's general counsel message that noted that they needed to shut down the crypto exchange. The post reportedly told employees to help with any investigations and keep records.

SBF even deleted a number of his tweets while using Signal, an app known for its encryption and giving users the ability to auto-delete messages sent and received. Prosecutors wrote about the events in which the FTX.US general counsel said employees had to preserve documents and posted that the crypto exchange would close down.

Prosecutors: "Bankman-Fried, however, deleted the general counsel's message about FTX being shut down, continued to use Signal messaging, and proceeded to delete some of his own statements on Twitter, including his tweets about customer assets being 'fine.'"

SBF's representative denied to give a comment on the allegations. The former FTX founder's use of messaging apps was also a subject of dispute.

Visa and Mastercard have recently decided to push back on crypto services, saying the need for better regulations and marketing conditions was the reason behind their push.

See flow at unusualwhales.com/flow.

Other News:

• FTX's SBF gets four new charges as prosecutors said they created a no-employee company to get a bank account
• Visa and Mastercard push back on crypto services, citing the need for better regulations and market conditions

Resources:

Business Insider