- There was a “medium” possibility that both BlackRock and Google would contribute.
- SBF is being sued on seven counts of fraud and conspiracy.
In court documents presented on Thursday, it was revealed that FTX had approached BlackRock and Google about investing in the company when Sam Bankman-Fried’s (SBFs) cryptocurrency exchange was on the brink of collapse.
Can Sun, FTX’s former general counsel, testified in federal court, where federal prosecutors presented a spreadsheet kept by the bankrupt exchange in relation to its fundraisers. Sun claims that one of the funding rounds in the paper “never closed.”
Listed as Engaged Pronto
He said that the C1 fundraising cycle for FTX started in the “late summer and fall of 2022.” During his testimony, Sun explicitly mentioned BlackRock, Google, and Apollo, all of whom are listed as “engage[d] pronto” on the spreadsheet.
The spreadsheet shows that there was a “medium” possibility that both BlackRock and Google would contribute to the investment round. It further says that prior to the collapse of the exchange on November 11, both companies were performing due diligence on it.
As a consequence of his actions at FTX, SBF is being sued on seven counts of fraud and conspiracy. Bankman-Fried is accused of swindling its clients out of billions of dollars. The SEC has also filed a lawsuit against him for allegedly deceiving FTX’s investors.
BlackRock CEO Larry Fink said last year at a New York Times DealBook event that the firm had risked $24 million on the doomed FTX. While Google has no ownership stake in SBF’s businesses, the two firms do share a cap table.
Highlighted Crypto News Today:
