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The United States Trustee handling FTX’s bankruptcy proceedings has referred to the now-defunct exchange as the "fastest big corporate failure in American history," and is calling for an independent probe to look into its downfall. In a Dec. 1 motion, U.S. Trustee Andrew Vara noted that over the course of eight days
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An expert review of FTX’s audited financial statements reveals a series of red flag related-party transactions that should have led to more scrutiny of the company’s operations. Original Source
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The new CEO of FTX, appointed after the crypto exchange filed for bankruptcy, has blasted the company under former CEO Sam Bankman-Fried. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” he said
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That trial took place in Delaware because Twitter, Inc. has its corporate registration there. So do Amazon, Google, Walmart and Meta (formerly Facebook). In fact, companies responsible for an incredible 45% of U.S. GDP [gross domestic product], and making up two-thirds of the Fortune 500, are registered in Delaware. So
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The "strategic investment" will be converted from its overcollateralized stablecoin, with 80% going towards U.S. short term Treasuries and the remaining 20% to investment grade corporate bonds. MakerDAO's community voted in favor of the allocation proposal, which was presented in late June. Original Source
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The Society for Worldwide Interbank Financial Telecommunication (SWIFT) disclosed on Tuesday a partnership with fintech company Symbiont to provide more accurate data for financial firms through blockchain technology. Vanguard, Citigroup, American Century Investments, and Northern Trust are among the companies participating in the initiative.According to the announcement, the pilot project "could help
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Major crypto exchange Binance has confirmed it restricted account access to $1 million in crypto for a Tezos tool contributor after being called out on social media.In a Thursday Twitter thread, Binance said it had restricted the account of Tezos staking rewards auditor Baking Bad “as the result of a
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Two crypto lobby groups recently asked the government to reform crypto tax laws in the country, where investors can pay up to 55% on capital gains. Original Source
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On Saturday, the co-founder of Ethereum, Vitalik Buterin, took to Twitter and gave his perspective on the “existing corporate attempts to create the metaverse.” Buterin noted that a metaverse will happen, but he doesnt believe the current corporate metaverse attempts are going anywhere. Ethereum’s Vitalik Buterin Shares His Thoughts on Existing
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On Wednesday, cryptocurrency exchange Kraken announced that it would continue to hire over 500 roles in various departments amid a market downturn. The company's hiring efforts are in stark contrast to a week of severe layoff announcements from major blockchain firms such as Coinbase, BlockFi, etc. In support of the
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