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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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According to Julian Hosp, co-founder of the decentralized finance entity Defi Chain, the fall of the crypto exchange FTX and the domino effect it has had may have rekindled interest in decentralized finance (defi) and associated products. Hosp, however, conceded that the crypto exchange’s dramatic collapse also encourages regulators to
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The Bahamas struck first and struck hard. Yesterday, there were rumors going around that their government was pressuring Sam Bankman-Fried to give them control of FTX’s assets. What sounded like a bizarre story was more than confirmed today. The Securities Commission of The Bahamas released an official document announcing the
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The Securities Commission of The Bahamas (SCB) said it had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission on Nov. 12. In a Nov. 17 statement, the SCB said it exercised its power as a regulator acting under the
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Brian Simms, the court-appointed provisional liquidator overseeing the bankruptcy proceedings of FTX Digital Markets in The Bahamas, has called into question the validity of a Chapter 11 bankruptcy filing by subsidiary FTX Trading and 134 other affiliates in a Delaware court on Nov. 14.In the Nov. 15 document, Simms filed
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The new CEO and chief restructuring officer for the bankrupt FTX cryptocurrency exchange, John Ray, has icily responded to the erratic series of tweets from former CEO and founder Sam Bankman-Fried.The official Twitter account of FTX on Nov. 16 tweeted a statement from Ray addressing Bankman-Fried’s recent public statements, reiterating
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The plaintiffs in a class-action suit claim that the heavily-marketed FTX yield-bearing crypto accounts were actually a Ponzi scheme. Original Source
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The move on behalf of FTX.com, based in the Caribbean, is the latest legal move in the crypto exchange’s collapse. Source
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“They might be a reflection of value … but they’re not the thing that you’re trying to optimize,” Sokolin said. “What you’re trying to actually optimize is people building things that are novel, useful and that anchor in new technology.” Source
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TRUMPLOSE was part of FTX’s prediction market, where degens made big bucks betting on — or against — Trump or Biden during the 2020 election. Weirdly it’s still on their balance sheet. Original Source
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