- As per the prosecution, using a VPN creates various possible difficulties.
- Sam Bankman-Fried’s lawyers argued that their client only used a VPN “to access NFL Game.
Sam Bankman-Fried, the former FTX founder is accused of using a Virtual Private Network (VPN) to access the internet, which has concerned U.S. prosecutors. U.S. Attorney Damian Williams stated that the government considered utilizing a VPN to “raise numerous possible concerns. Including instances of American users accessing specific international crypto exchanges and masking data from websites Bankman-Fried might be visiting.
According to the prosecution, using a VPN creates various possible difficulties. A VPN, or virtual private network, is a kind of encryption. That shields internet activity from prying eyes like the government. A VPN server effectively functions as a proxy server on the internet. Therefore it is a way to hide a user’s location.
Probe Into Charities
Bankman-Fried’s lawyers argued that their client only used a VPN “to access an NFL Game Pass globalizing that he had previously acquired when he lived in the Bahamas. So that he could watch NFL playoff games. And also as per reports Polaris Ventures, a charity founded by former FTX and Alameda chief of staff Ruairi Donnelly, seeks to access around $150 million from the sale of employee tokens from the defunct exchange.
Some regulators have initiated investigations into charity organizations during FTX’s bankruptcy proceedings in the United States. Because FTX is one of Effective Ventures’ “major funders,” the Charity Commission for England and Wales announced in January that it had opened an investigation into the organization.
In November, FTX collapsed apart and declared bankruptcy; Bankman-Fried was charged with defrauding investors. And incurring billions of dollars worth of losses. To eight criminal charges, including conspiracy to commit wire fraud and money laundering, he entered a not-guilty plea on January 3.
