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The usual conversations are taking place about what new regulations need to be enacted to prevent another FTX. While it is obvious something needs to happen, experience makes clear that the current regulatory regime is not well equipped to prevent these events. Indeed, even if the Securities and Exchange Commission,
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Amid a bull run, mini or not, literally, anything can pump in the crypto market, even a token such as FTX’s FTT Token. After the tragic fall of the exchange, everything about the exchange crashed, including its reputation. However, after a while, it seems as though a piece of the
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“S&C’s disclosures as filed are wholly insufficient to evaluate whether S&C satisfies the Bankruptcy Code’s conflict-free and disinterestedness standards,” said Trustee Andrew Vara, a Department of Justice official responsible for bankruptcy cases. “The incomplete disclosures are a sufficient and independent reason to deny the application.” Source
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As the FTX bankruptcy case and fraud charges against co-founder Sam Bankman-Fried continue to unfold, the value of the exchange’s token, FTX Token (FTT), has seen significant growth. Since Jan. 9, 2023, FTT has risen 28.42% and currently sits above the $1 range, following a dip below that threshold. FTT Token
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Singh may hold information key to showing how Sam Bankman-Fried violated numerous federal campaign finance laws. Source
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FTX Trading, which is the entity behind the FTX.com exchange, filed for bankruptcy in the U.S. last November, while FTX Digital Markets, a Bahamas-based entity, entered liquidation proceedings the same month. The joint provisional liquidators in the Bahamas and FTX Trading's U.S. leadership had butted heads over the past few
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The United States Attorney’s Office for the Southern District of New York has launched a page on its website appealing to Sam Bankman-Fried’s alleged victims of fraud at FTX to come forward and informing them about court proceedings.In a Jan. 6 filing, Assistant U.S. Attorney Danielle Sassoon requested the federal
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A group of FTX customers has filed a limited objection to FTX’s plan to sell four independently-operated subsidiaries, arguing that they should be privy to the sales process to ensure customer interests are represented. It has also shared concerns that "misappropriated customer funds” may have been used to acquire, or keep
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The United States Securities and Exchange Commission and Commodity Futures Trading Commission and prosecutors are reportedly investigating former FTX engineering director Nishad Singh for potentially having a role in defrauding investors and users.According to a Jan. 5 report from Bloomberg, U.S. officials are looking at individuals in former FTX CEO Sam
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Daniel Friedberg, controversial lawyer who served as top compliance chief at now-defunkt exchange FTX, has reportedly cooperated with United States’ prosecutors investigating FTX collapse.Friedberg provided details about FTX in a meeting with two dozen investigators hold by the U.S. Attorney for the Southern District of New York's (SDNY) office on
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