Many relate FTX’s collapse to 19thcentury bank runs, which is when large groups of customers simultaneously withdrew their deposits from a bank based on fears that it will fail. Public concern about FTX began in November 2022 when the company’s balance sheet was leaked and aCoinDesk articles...
I think the positive aspect of this incident is our transparency. We showed the world how to respond to a crisis professionally, which has helped many people rebuild their confidence in us. As the saying goes:"What doesn't kill you makes you stronger."So we have already seen customers star...
Financial institutions screen new customers against lists of parties that pose a higher-than-average risk of money laundering: criminal suspects and convicts, individuals and companies undereconomic sanctions, and politically exposed people, encompassing foreign public officials, their family members, and c...
This system can be seen as both a pro and a con. It gives anyone access to financial accounts, but allows criminals to transact more easily. Many have argued that the good uses of crypto, like banking the unbanked, outweigh the bad uses of cryptocurrency, especially when most illegal activi...
Bankman-Fried stood facing the jury box, neither flinching nor betraying any sort of emotion. In less than three hours of deliberation, jurors had swiftly come to the conclusion that Bankman-Fried had defrauded FTX customers, as well as lenders to its sister hedge fund, Alameda Research. ...
They exist in data centers around the world, including one near your client. That means speed.You don’t want customers in China waiting for data to load from the United States. When I go to Google.com, I get a different data center in Boston than I would in Chicago or L.A., and...
The financial brainchild of Peter Thiel, Max Levchin and eventually, Elon Musk aimed far ahead of its time, facilitating instant payments between customers, businesses and more while utilizing the internet. Solana Pay is considered by many to be the next innovation in the payments processing arena...
There are so many variables and it’s such a specialist request that many Electrician’s will roll their eyes at you. With this tricky subject in mind, I have tried to created a summary of what you really need to know, and it can get a bit technical in places. ...
first Realestate, then stocks, crypto currency, insurance policies, starting businesses. I eventually retired early from my job when the opportunity presented itself. Mistakes were made, the economy was up, down and everything in between but along the journey I have learned so many things that ...
Most overhyped tech of 2023:Meta’s attempts in the metaverse. They keep trying on so many levels and just seem to miss the mark on what people want, need, and will pay for. Crypto in 2023 will…just maintain. The FTX debacle will hurt crypto overall in 2023, especially with gener...