Bankman-Fried’s Lavish Lifestyle Allegedly Revealed, Cuban Warns of Wash Trade Implosion, Experts Expect Soaring Gold Prices in 2023 — Week in Review

Bankman-Fried"s Lavish Lifestyle Allegedly Revealed, Cuban Warns of Wash Trade Implosion, Experts Expect Soaring Gold Prices in 2023 — Week in Review

More information has come to light allegedly revealing the lavish lifestyle of FTX co-founder and “altruist” Sam Bankman-Fried, as the failed former crypto exchange CEO also fights for Robinhood shares he says he needs more than customers. In other news, Shark Tank star Mark Cuban has warned that a crypto implosion could come from “the discovery and removal of wash trades” on exchanges. Finally, experts have predicted gold prices will soar in 2023. All this just below in the latest Bitcoin.com News Week in Review.

FTX Co-Founder’s Alleged Extravagance Comes to Light in Bankruptcy Court Documents

Following the court filing that shows FTX co-founder Sam Bankman-Fried (SBF) wants access to FTX’s $460 million in Robinhood shares, Delaware bankruptcy court documents show tens of millions were spent by the FTX team in 2022 on living accommodations, hotels, food, and flights. Moreover, SBF’s quantitative trading firm allegedly owes more than $55,000 to Jimmy Buffett’s beach resort, Margaritaville, after Alameda and FTX executives occupied 20 suites for a few months last year.

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SBF Fights for Robinhood Shares — Says He Needs Them More Than FTX Customers Who Only Suffer ‘Possibility of Economic Loss’

Disgraced FTX founder Sam Bankman-Fried (SBF) is attempting to regain access to his Robinhood shares, worth over $460 million. The former CEO of the collapsed crypto exchange claimed that he needs them to “pay for his criminal defense,” stressing that without them the consequences would be serious and “irreparable.” FTX customers, 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 Next Crypto Implosion Coming From Wash Trades

Mark Cuban, a Shark Tank star and the owner of the NBA team Dallas Mavericks, has warned that the next crypto implosion could come from “the discovery and removal of wash trades” on centralized exchanges. The billionaire’s comments followed the collapse of crypto exchange FTX which wiped out billions of dollars of customer funds.

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Gold Prices Expected to Soar in 2023: Experts Predict Record Highs for Precious Metal

Gold is on the rise in 2023 and in the first week of the new year alone, the precious metal has jumped 2.36% against the U.S. dollar. Over the past 65 days, gold has soared 14.55% while silver has skyrocketed 22.31% against the greenback since Nov. 3, 2022. According to the head of metals strategy at MKS Pamp Group, there is a “decent amount of bullish ‘pent-up’ demand that has been carried over from last year” for gold.

Read More Tags in this story Centralized Exchanges, crypto implosion, gold, gold price predictions, Lifestyle, Mark Cuban, Robinhood shares, Sam Bankman-Fried, sbf, wash trades

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Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance. Robert Kiyosaki: SEC Will "Crush" Most Cryptos, Burry on US Recession, Gold Bug Schiff on Inflation in 2023 — Week in Review THE WEEKLY | Jan 8, 2023 Gold, Silver, and Oil Predictions; Ellison"s FTX Testimony and the Sam Trabucco Mystery; Massively Eroded Dollar Sees the Fed Turn 109 — Week in Review THE WEEKLY | Jan 1, 2023

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleUkraine’s Tascombank Pilots Stellar-based E-hryvnia Next articleFormer President of FTX US Shares His Experience and Relationship With CEO Sam Bankman-Fried in Detailed Twitter Thread Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

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