On Wednesday, Japan’s Financial Services Agency (FSA) said that it intends to prolong the suspension order for FTX Japan, a cryptocurrency exchange. Because of delays in resuming withdrawals and returning client monies in Japan, the company has made the decision to implement the change. In November, the FSA demanded that
Sherlock, a crypto auditing platform, anticipates a massive loss from the troubled loans on the blockchain-based institutional capital marketplace, Maple Finance. In a recent blog post, Sherlock predicted a $4 million loss for its stakers, or roughly one-third of the capital in its staking pool, due to Orthogonal Trading FTX-induced
Goldman Sachs (GS), one of the world’s leading digital banking platforms, announced plans to invest $10 million to buy or invest in crypto firms whose valuations have been impacted by the demise of the crypto exchange FTX. According to Reuters, Goldman Sachs’ head of digital assets Mathew McDermott stated that
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
