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Ontario Teachers’ Pension Fund Writes Down Entire Investment in Bankrupt Crypto Exchange FTX Citing ‘Potential Fraud’
19.11.2022
Ontario Teachers’ Pension Plan (OTPP), one of the largest pension plans in the world, is writing down its investment in the bankrupt crypto exchange FTX. “Recent reports suggest potential fraud conducted at FTX which is deeply concerning for all parties,” the plan states. Major...
FTX leadership pressed for information by US subcommittee chairman
19.11.2022
A letter by the chair of the Subcommittee on Economic and Consumer Policy demanded the former and current FTX CEOs turn over details of the exchange’s past and current financials
FTX Execs Gave $70 Million to Both Democrats and Republicans Heading Into the 2022 US Midterms
18.11.2022
After the collapse of FTX, a number of journalists reported on the fact that FTX executives deployed significant donations to political leaders in the United States. During the most recent election cycle leading up to the U.S. midterms in 2022, reports claim that Sam Bankman-Fried donated more than...
Banks still show interest in digital assets and DeFi amid market chaos
18.11.2022
Traditional financial institutions continue to demonstrate use cases for digital asset support, along with DeFi capabilities, despite current market conditions
Ripple Partners With Africa-Focused Remittances and Payments Firm MSF Africa
18.11.2022
Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MSF Africa, which has...
Regulator Halts Trading of FTX Tokens in Indonesia
17.11.2022
The agency overseeing Indonesia’s crypto market has stopped the trading of FTX tokens on domestic platforms. The announcement comes after FTX, the exchange that issued the FTT token, filed for bankruptcy in the United States and was subjected to investigations by regulatory bodies around the world....
Breaking down FTX’s bankruptcy: How it differs from other Chapter 11 cases
17.11.2022
The FTX bankruptcy has left creditors, investors and industry experts questioning what will happen next — Here is what we can expect
Bahamian liquidators reject validity of FTX's US bankruptcy filing
17.11.2022
The provisional liquidator overseeing the FTX Digital Markets bankruptcy proceedings says FTX wasn’t authorized to file for bankruptcy in the U.S without his approval
Crypto skeptic Brad Sherman: federal financial regulators 'sound like Sam Bankman-Fried'
16.11.2022
The U.S. lawmaker suggested four financial regulatory heads had done little to address “crypto billionaire bros” using digital assets for the evasion of sanctions and taxes
FTX collapse was a 'dumpster fire', says US lawmaker announcing investigative hearing
16.11.2022
"There is no sugarcoating it: the FTX collapse has been a dumpster fire,” said House Financial Services Committee ranking member Patrick McHenry
US reportedly considering Bankman-Fried extradition for questioning
16.11.2022
Authorities in both countries are reportedly in conversation about whether to bring the former FTX CEO back to the United States
Turkey’s Financial Intelligence Unit Launches Investigation Into FTX Collapse
16.11.2022
The Turkish agency responsible for tackling money-related crime has initiated an investigation against troubled crypto exchange FTX. Days after the trading platform filed for bankruptcy in the United States, the department revealed it has been tracking its activities in Turkey. Turkish Financial...
FDIC to prioritize crypto risk assessment as banks perform poorly in Q2
16.11.2022
With banks reporting $470 billion in unrealized losses and FDIC foreseeing the continuation of this trend, acting chairman Gruenberg believed banks must cautiously engage in crypto-asset activities
FDIC acting chair says no crypto firms or tokens are backed by agency
15.11.2022
Martin Gruenberg answered affirmatively to Senator Bob Menendez that there were “no cryptocurrency firms backed by the FDIC” and its coverage did not include crypto "of any kind.”
NY Fed launches 12-week CBDC pilot program with major banks
15.11.2022
Banking giants including BNY Mellon, Citi, U.S. Bank, and Wells Fargo will be issuing tokens and settling transactions through simulated central bank reserves as part of the pilot
FTX bankruptcy filing speculates over 1 million creditors
15.11.2022
In the latest bankruptcy filing for the exchange, it was revealed that there may be one million creditors, rather than the 100,000 initially estimated
Metaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by Consumer Spending by 2026, Study Says
15.11.2022
A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92 billion in value from 2021 to 2026. The report states that 33% of this growth will originate in U.S....
President Biden announces pick for FDIC chair
14.11.2022
Martin Gruenberg was FDIC acting chair while the agency issued cease and desist orders to crypto firms and suggested that payment stablecoins merited further consideration
Brussels Set to Begin Talks on EU Crypto Tax, Report Reveals
12.11.2022
The European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the differentiated tax treatment of cryptocurrencies...
FTX, FTX US, and Alameda file for Chapter 11 bankruptcy in US; SBF resigns
11.11.2022
FTX CEO Sam Bankman-Fried has resigned his position, and will be succeeded by John Ray