The United States Federal Trade Commission (FTC) is investigating several cryptocurrency businesses. For what it believes to be fraudulent or misleading cryptocurrency-related advertising. A spokesperson for the Federal Trade Commission, Juliana Gruenwald, was quoted in a Bloomberg article published on December 6. She said that the agency is looking into
After the demise of FTX, the blockchain-based institutional capital marketplace Maple Finance declared on the 5th that it will sever all links with Orthogonal Trading due to the alleged falsification of finances. Maple Finance claims that the decision was made because Orthogonal Trading had been “operating while effectively insolvent” for
Swyftx, an Australian cryptocurrency exchange, has announced the layoff of 90 employees in preparation for a “worst-case scenario” resulting from the collapse of FTX and a possible reduction in global trading volumes in 2023. Moreover, Swyftx co-CEO Alex Harper announced the decision in a statement on December 5, stressing that
Sam Bankman-Fried, the former CEO of FTX, has said he won’t testify before Congress until he’s finished learning and assessing what transpired. U.S. Representative Maxine Waters invited Bankman-Fried to appear at a hearing for the U.S. House Committee on Financial Services on December 13 to investigate “what happened” at FTX
The efforts of mainstream media to tone down the frauds perpetrated by FTX CEO Sam Bankman-Fried (SBF) did not perform well in persuading the crypto community and entrepreneurs. Instead, Tesla CEO Elon Musk’s efforts to promote Twitter as the most reliable source of information ran head-on into the disinformation campaign.
The bankruptcy watchdog at the US Department of Justice (DOJ) demanded a separate investigation. Into the FTX Group’s demise on Thursday. Allegations of “fraud, dishonesty, incompetence, misconduct, and mismanagement” were made against the cryptocurrency exchange. Prompting the need for an independent investigation. The US Trustee, a branch of the Department
Former FTX US president Brett Harrison is now trying to raise money for a new cryptocurrency firm. The report states that he is attempting to raise $6 million while valuing the firm at $60 million. The company’s stated goal is to develop cryptocurrency trading software for institutional investors. This comes
The Japanese unit of the insolvent crypto-empire FTX announced that it is striving to allow users to withdraw their funds. FTX Japan opens the door in the mid of the extremely unprecedented circumstance in which investors withdraw funds back from the bankrupt exchange. Sam Bankman Fried’s FTX Japan momentarily halted
The notorious founder of the bankruptcy cryptocurrency exchange FTX, Sam Bankman-Fried, denied committing fraud while admitting significant managerial faults. At the same time, SBF claimed that he was unaware of any wrong transactions that includes funds from FTX and his trading company Alameda Research. Mystery surrounds the disappeared billions, which
At The New York Times’ annual DealBook Summit, Sam Bankman-Fried was interviewed by Andrew Ross Sorkin on Wednesday. He discussed a variety of topics, including risk management, philanthropy, regulation, and real estate in the Bahamas. SBF acknowledged that he “screwed up” and did commit serious mistakes. He said that he
