More information has been released purporting to reveal the lavish lifestyle of FTX co-founder and “influencer” Sam Bankman-Fried, as the former cryptocurrency exchange CEO is also fighting to acquire Robinhood shares that he says he needs more than customers. In other news, Shark Tank star Mark Cuban warned that a cryptocurrency implosion could come from “laundry detection and removal” on exchanges. Finally, experts have predicted that gold prices will rise in 2023. It’s all just below in the latest Bitcoin.com News Week in Review.
The alleged extravagance of the FTX co-founder appears in bankruptcy court documents
After a court filing showing FTX co-founder Sam Bankman-Fried (SBF) wants access to $460 million in Robinhood stock, Delaware bankruptcy court documents show the FTX team spent tens of millions in 2022 on lodging, hotels, food and flights. Moreover, SBF’s quant trading company allegedly owes more than $55,000 to Jimmy Buffett’s beach resort, Margaritaville, after Alameda and FTX executives occupied the 20 suites for a few months last year.
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SBF Fights for Robinhood Shares – Says It Needs It More Than FTX Clients Suffering Only ‘Potential Economic Loss’
Disgraced FTX founder Sam Bankman-Fried (SBF) is trying to regain access to Robinhood shares worth more than $460 million. The former CEO of a collapsed cryptocurrency exchange has claimed he needs it to “pay the price for his criminal defense,” asserting that without it the consequences would be severe and “irreparable.” FTX clients, on the other hand, “face only the possibility of economic loss,” SBF’s court filing states.
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Billionaire Mark Cuban warns of the next plunge into cryptocurrency from laundering
Shark Tank star and owner of the NBA Dallas Mavericks Mark Cuban has warned that the next cryptocurrency implosion could come from “the discovery and removal of laundering” on centralized exchanges. The billionaire’s comments came in the wake of the collapse of cryptocurrency exchange FTX, which wiped out billions of dollars of customer funds.
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Expect a rise in gold prices in 2023: Experts predicted record highs in the price of precious metals
Gold is on the rise in 2023 and in the first week of the new year alone, the precious metal jumped 2.36% against the US dollar. Over the past 65 days, gold has gained 14.55% while silver has gained 22.31% against the dollar since November 1st. 3, 2022. According to MKS Pamp Group’s Head of Metals Strategy, there is “a decent amount of ‘pent-up’ bullish demand carried over from last year” for gold.
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