Judge Sam also prohibited Sam from making any transaction involving wallets related to FTX and Alameda research. It is believed that Sam cashed out almost 700 thousand dollars of cryptocurrency after being released from bail. Some speculated that he was also behind the sudden movement and mixing of funds belonging to FTX and Alameda research given he was one of the few with access to them. Although Sam denied the movement-related FTX and Alameda research, he has not denied cashing out 700 thousand of cryptocurrency from another wallet affiliated with him.
The fact the judge prohibited him from cashing out any more crypto, it is evident that he made has been involved. After all, it looks like Sam is out of cash and has a lot of legal fees to pay. This was the justification given by Sam's lawyers when they requested that the $460 million shares belonging to Sam be returned to him. The US authorities were in the process of ceasing these shares. His lawyers also argued that these RobinHood shares should state with Sam because he is yet to be found guilty of any crime and it is therefore illegal for US authorities to take these shares. Obviously, the intention of taking these shares is so that can be sold to compensate FTX users. If Sam succeeds in keeping these shares, then he will have the financial power he needs to ensure his case last as long as possible.
The thing is that the new FTX team and the Bahamian government have agreed upon sharing of info and asset. While FTX and Alameda don't hold any actual ETH, they held no shortage of altcoin in the balance sheet. This could do serious damage to the lower end of the crypto markets. In addition to the damaged asset liquidation from FTX and Alameda could do, there is a real risk that Sam could do damage to some of the biggest players in the market. This is because Alameda works closely with the likes of Tether and Binance in its early days. Alameda Research received most of the USDT ever issued by Tether.
It is safe to say that Sam has a lot of information about the stablecoin issuer and its affiliate.
Binance had also acquired a stake in FTX during its early days. You should know that the former Binance US CEO Brian was allegedly sharing sensitive information with Sam and FTX. This is alleged because Brian was spotted speaking at many FTX events shortly after having been fired. That is why the news that US authorities are expanding their 2018 investigation in Binance is suspicious. US authorities are now demanding hedge funds review documentation about dealings with the exchange. You should know that Sam met with the SEC chairman more than another regulator. That is why it wasn't a surprise that the SEC oppose Binance US acquiring Voyager Digital. Any major move against Binance and Tether by US authorities would be catastrophic industry.
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Hmm.
I really don't know what the end game will be.
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