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Binance.US says its users can't directly withdraw their crypto holdings in cash.

CoinDesk notes that Binance.US just updated its terms of service, saying users can only withdraw funds in the form of stablecoins or other crypto instead of US dollars. Oh, and that US dollar funds in Binance.US wallets are not protected by FDIC insurance. Earlier this year the SEC sued Binance, alleging it “defrauded equity, retail, and institutional investors about purported surveillance and controls over manipulative trading on the Binance.US Platform, which were in fact virtually nonexistent.” While you wait for the next Liz Lopatto report on the Sam Bankman-Fried / FTX fraud case, you can relive her live reading of the SEC’s case against Binance from this summer. ....

Sam Bankman , Liz Lopatto , Sam Bankman Fried ,

Is SBF Still Trying to Intimidate Caroline Ellison?

A peek inside the sidebar talks as the crypto fraud trial gets testy, as the lead prosecutor suggests that Sam Bankman-Fried is subtly attempting to intimidate star witness – and former girlfriend – Caroline Ellison.
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New York , United States , Danielle Sassoon , Caroline Ellison , Lewis Kaplan , Samuel Bankman , Mark Cohen , Liz Lopatto , New York Times ,

Things did, indeed, get worse.

That is a theme of Caroline Ellison’s remarks about Sam Bankman-Fried and FTX during his trial on charges of wire fraud and conspiracy. As Liz Lopatto captured from Tuesday’s testimony: Ellison is back on the stand today, and I can’t wait for the next big update. ....

Sam Bankman , Liz Lopatto , Caroline Ellison , Sam Bankman Fried ,

The Sam Bankman-Fried fraud trial continues.

The Verge reporter Liz Lopatto is back in a New York City courtroom today, as Sam Bankman-Fried’s friends turned cooperating witnesses continue to take the stand in the case against the fallen FTX boss. We broke down FTX CTO Gary Wang's testimony / code review on Friday, and today the case restarted with him still on the stand, and former Alameda CEO and SBF ex Caroline Ellison is expected to make her appearance later today. Stay tuned here for all of the latest updates from the crypto exchange fraud trial. ....

New York , United States , Gary Wang , Caroline Ellison , Liz Lopatto , Sam Bankman , New York City , Sam Bankman Fried ,

Maybe it's the new haircut? - The Verge

Sam Bankman-Fried reportedly is sporting a jailhouse haircut during his fraud trial over FTX’s failure, and observers, including this NPR reporter and CNBC, note that his ex, Caroline Ellison, needed a little time to find him in the courtroom. According to CNBC and the New York Times, once her testimony began, she wasted little time: Expect a full report from Liz Lopatto later today. ....

New York , United States , Sam Bankman , Liz Lopatto , Caroline Ellison , New York Times , Sam Bankman Fried ,