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Commissioner Kristin Johnson is pushing for her agency to work on policies to further tighten custody of customer assets as the CFTC sanctions another crypto Ponzi scheme. CFTC Commissioner Kristin N. Johnson and Conrad Bahlke, counsel at Willkie Farr & Gallagher LL at Crypto Connection 2022 (Amitoj Singh/CoinDesk) As the U.S. Commodity Futures Trading Commission awaits legislation to establish its...
Japan's financial services regulator was one of several that last year issued warnings saying Binance was not licensed to operate in its market. Binance has bought Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange regulated by the country's Financial Services Agency (FSA), for an undisclosed sum,according to a blog postWednesday. With the acquisition, the world's largest crypto exchange by trading...
Ryan Pinder said The Bahamas would not share further information about his country's investigations into FTX at this time. Ryan Pinder, Attorney General of The Bahamas (YouTube) The Bahamas "is a nation of laws," the country's attorney general said, defending the island's actions in the wake of FTX's collapse. Duringa 23 minute pre-taped speech, Ryan Pinder, who is also a...
CoinDesk reported last week that Binance.US would be preparing a bid for the bankrupt lending platform. Binance CEO Changpeng "CZ" Zhao has confirmed that the exchange's U.S. wing will be making a fresh bid for crypto lender Voyager now that the defunct FTX is unable to follow through with acquiring it. CoinDesk reported last week thatBinance.US would be preparing a...
The former FTX CEO did not address concerns about customer funds being misappropriated or other recent revelations about the company. Sam Bankman-Fried and Bill Clinton at the Crypto Bahamas conference in Nassau in April 2022 (Danny Nelson/CoinDesk) FTX founder and former CEO Sam Bankman-Fried "froze up in the face of pressure" as his company collapsed, he wrote in a new...
In addition, the exploiter transferred thousands of ether to a brand-new wallet. Thousands of ether were bridged using the Ren Protocol, which is closely linked to embattled trading firm Alameda Research. (Adam Levine/CoinDesk) Whoever was behind the $600 million exploit of crypto exchange FTX started exchanging millions of dollars worth of ether to Ren Bitcoin (renBTC), a token that represents...
The regulator said it needed "urgent interim regulatory action" to protect creditors. FTX bought the naming rights to the Miami Heat arena in March. (Danny Nelson/CoinDesk) The Securities Commission of the Bahamas announced Thursday that it ordered the contents of FTX's crypto wallets to be transferred to government-controlled wallets on the previous Saturday. In a press release, the commission said...
Posts from a since-deleted blog linked to Caroline Ellison, Alameda Research’s former CEO, reveal the FTX-affiliated executive’s controversial views. As onlookers attempt to make sense of the ongoing, mind-bogglingcollapse of crypto exchange FTX, details have begun to surface concerning the unorthodox internal practices and beliefs of the once-dominant company’s leadership. Of particular note is former Alameda Research CEO Caroline Ellison,...
After last week’s FTX debacle, customers who don’t wish to take custody into their own hands should demand far better from their service providers. (Lorado/Getty Images) Last week FTX, once the third-largest crypto exchange by volume, owned and run by founder Sam Bankman-Fried (SBF), went through a meltdown. Here’s how that went down: On Nov. 2, a CoinDesk scoop showed...
“The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on condition of anonymity. FTX CEO Sam Bankman-Fried (Danny Nelson/CoinDesk) "Shocking" is a word that aptly describes therapid fall of Sam Bankman-Fried’s cryptocurrency empire. To a surprising degree, it’s a sentiment that pours out from people who worked for...