Sam Bankman-Fried's Legal Troubles and Crypto Developments.

Sam Bankman-Fried, the embattled founder of cryptocurrency exchange FTX, is reportedly using a "multimillion gift" he gave to his father, Stanford Law School professor Joseph Bankman, to pay for his high-priced legal defense. The gift was allegedly created using money taken from Alameda Research, the sister company of FTX. Bankman-Fried is facing an array of criminal charges, including wire fraud, money laundering, securities fraud, and bribery, and his defense costs are expected to rise to the single-digit-millions range.