{"id":281461,"date":"2022-12-13T14:55:31","date_gmt":"2022-12-13T14:55:31","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=281461"},"modified":"2023-08-22T02:33:51","modified_gmt":"2023-08-22T01:33:51","slug":"cftc-suing-sbf-ftx-and-alameda-for-commodities-law-violations","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cftc-suing-sbf-ftx-and-alameda-for-commodities-law-violations\/","title":{"rendered":"CFTC suing SBF, FTX and Alameda for commodities law violations"},"content":{"rendered":"<p>The U.S. Commodities Futures Trading Commission is suing former FTX CEO Sam Bankman-Fried, FTX and Alameda Research for violating federal commodities laws.<\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-13\/cftc-planning-to-sue-bankman-fried-ftx-and-alameda-for-fraud?leadSource=uverify%20wall\">Bloomberg<\/a> reported that the regulator alleges in its Manhattan federal court filing that SBF and other FTX executives took loans in the millions of dollars from Alameda and put the money towards buying real estate and political donations.<\/p>\n<p>In addition, the CFTC claims in its complaint that SBF ordered FTX executives to create features in the exchange's code that allowed Alameda to have &#8220;an essentially unlimited line of credit on FTX.&#8221;<\/p>\n<p>The CFTC's plan to prosecute SBF is coming shortly after the Securities and Exchange Commission (SEC) charged the FTX founder for allegedly <a href=\"https:\/\/cryptoslate.com\/sec-charges-sbf-with-defrauding-investors\/\">defrauding<\/a> investors of about $1.8 billion.<\/p>\n<p>The former CEO of the bankrupt FTX exchange was arrested on Dec. 12 by the Bahamas authorities and could be extradited to the US for further trials.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Commodities Futures Trading Commission is suing former FTX CEO Sam Bankman-Fried, FTX and Alameda Research for violating federal commodities laws. Bloomberg reported that the regulator alleges in its Manhattan federal court filing that SBF and other FTX executives took loans in the millions of dollars from Alameda and put the money towards buying [&hellip;]<\/p>\n","protected":false},"author":1378,"featured_media":344271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77968,60793,11],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CFTC suing SBF, FTX and Alameda for commodities law violations<\/title>\n<meta name=\"description\" content=\"The CFTC claims in its complaint that SBF ordered FTX executives to create features in the exchange&#039;s code that allowed Alameda to have &quot;an essentially unlimited line of credit on FTX.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/cftc-suing-sbf-ftx-and-alameda-for-commodities-law-violations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CFTC suing SBF, FTX and Alameda for commodities law violations\" \/>\n<meta property=\"og:description\" content=\"The CFTC claims in its complaint that SBF ordered FTX executives to create features in the exchange&#039;s code that allowed Alameda to have &quot;an essentially unlimited line of credit on FTX.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/cftc-suing-sbf-ftx-and-alameda-for-commodities-law-violations\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-13T14:55:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-22T01:33:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/03\/sec-cftc-crypto-reporting.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Christian Nwobodo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Nwobodo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/cftc-suing-sbf-ftx-and-alameda-for-commodities-law-violations\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/cftc-suing-sbf-ftx-and-alameda-for-commodities-law-violations\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/christian-nwobodo\/#person\",\"name\":\"Christian Nwobodo\",\"url\":\"https:\/\/cryptoslate.com\/author\/christian-nwobodo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/christian-nwobodo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/christian-nwobodo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/chriscen-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/chriscen-author-300x300.jpg\",\"caption\":\"Christian Nwobodo\"},\"jobTitle\":\"Journalist\",\"description\":\"Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. 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