December 8, 2022
The collapse of the cryptocurrency exchange FTX demonstrates the dangers of failures of corporate governance, according to a commentary published by AM Best. While FTX is not an insurance company, the series of events leading to its collapse should provide …
December 6, 2022
We are heading into the holiday season. It’s a Wonderful Life will be on television. And cryptocurrency bankruptcies will be in the news. Yesterday, BlockFi filed for bankruptcy. What does a seventy year old Frank Capra movie – about a …
December 2, 2022
Regulators must step in to protect crypto investors after the collapse of FTX, financial industry executives and lawmakers said at the Reuters NEXT conference this week, the latest call for tougher oversight of a sector prone to meltdowns. Policymakers have …
December 2, 2022
The U.S. Department of Justice’s bankruptcy watchdog on Thursday called for an independent investigation into the collapse of crypto exchange FTX, saying customers need a neutral party to investigate allegations of “fraud, dishonesty, incompetence, misconduct, and mismanagement.” FTX has ousted …
November 28, 2022
The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such ‘conglomerate’ platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said …
November 23, 2022
FTX was run as a “personal fiefdom” of former CEO Sam Bankman-Fried, attorneys for the collapsed crypto exchange said in its first bankruptcy hearing as they detailed ongoing challenges such as hacks and substantial missing assets. In the highest-profile crypto …
November 23, 2022
From a German bank seeking a more than $2 million payment to a Chinese investor requesting $21,000 of lost savings. Claimants around the world who were caught up in the epic collapse of FTX Group are beginning to appear in …
November 22, 2022
The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. Elliott Lam, a Canadian citizen and Hong Kong resident, filed his proposed class-action …
November 21, 2022
The implosion of cryptocurrency exchange FTX shows the need to bring the crypto world within the regulatory framework, Bank of England Deputy Governor Jon Cunliffe said on Monday. FTX, which has filed for U.S. bankruptcy court protection, has said it …
November 18, 2022
A lawsuit by FTX account holders in the United States is likely the first of many that will be brought over billions of dollars in losses on the cryptocurrency exchange, though the cases will face obstacles including proving that U.S. …