Police in the Bahamas has launched an investigation into the crypto exchange FTX, and is actively looking for evidence of whether “criminal misconduct” has occurred.
Per a tweet from the Royal Bahamas Police Force published on Sunday, a team of financial investigators from the Force’s Financial Crimes Investigation Branch is already working with the nation’s financial regulator, the Securities Commission of The Bahamas….
Read More: Bahamas Police Launch Investigation into FTX Conduct, Looking For ‘Criminal Misconduct’…
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Cardano founder Charles Hoskinson has warned investors that more pain is coming from the recent collapse of cryptocurrency exchange FTX. He also noted that the incident would attract more regulatory scrutiny.
In his latest YouTube video, Hoskinson argued that the collapse of FTX was not the failure of crypto itself, but rather the loss of the flawed and centralized infrastructure around the platform….
Read More: Cardano Founder Charles Hoskinson Says More Damage Coming From FTX Contagion – New Regulation Coming?…
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When Binance announced it would bail out FTX, daily trading volumes mushroomed on decentralized exchanges like Uniswap….
Continue reading on https://decrypt.co/114364/defi-exchange-volume-hits-ftx-collapse
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The abrupt collapse of major crypto exchange FTX has shaken the cryptocurrency markets across the world, but it wil not hamper Hong Kong’s plans of establishing itself as a crypto hub, according to the city’s Financial Secretary Paul Chan. …
Read More: Government Official: FTX Collapse Will Not Stop Hong Kong Becoming Virtual Asset Hub…
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The Japanese government has vowed that it will do all it can to protect customers of FTX’s Japanese subsidiary, FTX Japan. But the exchange has announced that its clients’ funds are safe.
Nikkei quoted the nation’s Finance Minister Shunichi Suzuki as explaining that regulators had hit FTX Japan with a business suspension order, but that the government was taking steps to help the exchange’s customers….
Read More: Japanese Government: We’ll Take ‘All Possible Measures’ to Help FTX Japan Customers…
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The world’s largest crypto exchange Binance is forming an “industry recovery fund” to help projects overcome possible liquidity crises….
Continue reading on https://decrypt.co/114346/binance-ceo-announces-industry-recovery-fund-ftx-exchange-collapse
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Aside from losses resulting from the FTX hack, the bankrupt exchange is apparently unable to account for $1 billion to $2 billion of client funds, say people familiar with the matter, and its balance sheet shows liabilities of $8,859 million against assets of just $899 million. …
Read More: FTX Hack and Balance Sheet Mystery – Crypto Prices Weak As Up to $2 Billion of Client Funds Missing. Where is SBF?…
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Cryptocurrency exchange Crypto.com mistakenly sent 320,000 ETH to a wallet address linked to Gate.io in late October. While the platform has since recovered the assets, Binance CEO Changpeng Zhao advised users that it is best they stay away from the platform. …
Read More: Crypto.com Sends $400 Million Worth of Ethereum to Wrong Address, Binance CEO Warns Users to Stay Away…
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Former Treasury Secretary Larry Summers has compared the sudden fall of cryptocurrency exchange FTX to energy trader Enron’s scandal in the early 2000s.
In a “Wall Street Week” interview with Bloomberg, he said that while “a lot of” people have compared this to Lehman, he believes it is more similar to Enron’s scandal. …
Read More: Former US Treasury Compares FTX Collapse to Infamous Enron Fraud – Crypto Regulation Incoming?…
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The President of the Brazilian markets regulator has claimed that efforts to police the sector will not hamper the nation’s crypto progress.
Portal do Bitcoin quoted the President of the Securities and Exchange Commission (known locally as the CVM) João Pedro Nascimento as speaking at a crypto-focused event named Cryptorama in São Paulo….
Read More: New Regulations Won’t Choke Brazil’s Crypto Progress, Says Regulator…
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