Bookmarking Crypto Insights
Auto Added by WPeMatico
According to the federal regulator, SBF and FTX companies “used FTX customer funds for a variety of personal expenditures” including real estate and private jets. Go to Source Powered by WPeMatico
The DAO was initially served with a lawsuit via a help chat box but a federal judge said the regulator “should serve at least one identifiable Token Holder.” Go to Source Powered by WPeMatico
The chairman of the Commodity Futures Trading Commission (CFTC) has revealed that he and his team met with Sam Bankman-Fried and other FTX executives 10 times before the crypto exchange filed for bankruptcy. The regulator sees the FTX collapse as “a classic run based on liquidity crunch.” CFTC’s Meetings With FTX and Sam Bankman-Fried The … Read more
CFTC chair Rostin Behnam appeared before a Senate Agriculture Committee to talk about how FTX happened and how it could have been prevented. Go to Source Powered by WPeMatico
“The customer property at LedgerX — the CFTC regulated entity — has remained exactly where it should be, segregated and secure,” said Rostin Behnam in a hearing on FTX’s failures. Go to Source Powered by WPeMatico
CFTC has faced a lot of scrutiny in the wake of FTX collapse due to its ties with the crypto exchange and SBF’s efforts to put the committee as the key oversight body for crypto. Go to Source Powered by WPeMatico
Two other associates that helped run the U.S.-based fraudulent crypto platform EmpiresX left the country early this year and are believed to be in Brazil. Go to Source Powered by WPeMatico
Speaking the FIA meeting in Singapore, Christy Goldsmith Romero compared the typical crypto investor, who may be of modest means, with the investors the CFTC is used to. Go to Source Powered by WPeMatico
On Nov. 29, 2022, the crypto supporter and reporter, Tiffany Fong, published an interview with the former FTX CEO Sam Bankman-Fried (SBF) that was recorded 13 days before the interview was released. During the interview, SBF discussed who he thinks may have hacked FTX and he further denied he had a backdoor installed to funnel … Read more
The hearing, titled ‘Why Congress Needs to Act: Lessons Learned from the FTX Collapse’, will be one of the first in which U.S. lawmakers explore what happened with the exchange. Go to Source Powered by WPeMatico
