<p class="p1"><span class="s1">Civil cases brought by U.S. regulators against former FTX CEO Sam Bankman-Fried can be pushed back until after a criminal case concludes, a judge decided Monday. </span></p> <p class="p1"><span class="s1">Damian Williams, U.S. Attorney for the Southern District of New York, submitted a motion to stay last week to hold off on civil proceedings until the Justice Department’s case against the former CEO is complete. </span></p> <p class="p1"><span class="s1">Bankman-Fried faces <a href="https://www.theblock.co/post/194667/disgraced-former-ftx-ceo-sam-bankman-fried-criminally-indicted"><span class="s2">criminal charges</span></a> such as defrauding customers and violating campaign finance laws. The Commodity Futures Trading Commission also <a href="https://www.theblock.co/post/194509/sam-bankman-fried-charged-with-fraud-over-ftx-collapse"><span class="s2">charged him</span></a> with civil charges for fraud and said Bankman-Fried, FTX and Alameda Research caused the loss of over $8 billion in customer deposits. The Securities and Exchange Commission brought similar charges. </span></p> <p class="p1"><span class="s1">Both the CFTC and SEC cases will now be pushed back until the criminal case's conclusion. </span></p> <p class="p1"><span class="s1">FTX collapsed in November and subsequently filed for bankruptcy protection. Bankruptcy proceedings remain ongoing. </span></p> <p class="p2"><span class="s1"><i>Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.</i> </span><span class="s3"><br /> </span><span class="s1"> </span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>