U.S. judge rules SEC case against SBF to stay until DOJ charges are dealt with

A U.S. judge said in a Feb. 13 ruling that the U.S. Securities and Exchange Commission (SEC) lawsuit against FTX founder Sam Bankman-Fried will be put on hold until related charges brought by the Justice Department are dealt with, CoinDesk reported. On February 8, Foresight News reported that U.S. prosecutors have requested that the civil fraud case brought by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) against FTX founder Sam Bankman-Fried (SBF) be postponed to its After the criminal case is closed. "The stay will save time and resources because the outcome of the criminal case could have a significant impact on issues at issue in the civil case," prosecutors said. SBF has agreed to postpone the civil case, and FTX and Alameda's other executives, Gary Wang and Caroline Ellisone Attorneys for FTX.com and the Alameda bankruptcy estate also agree that the SEC and CFTC have yet to take a stand on the extension request.”