You may know FTX was an offshore exchange. It was able to grow rapidly by skirting a lot of US regulations. In the wake of its collapse, I’m predicting a huge shift towards regulated, US-based exchanges, like Coinbase. Coinbase is the only publicly-traded crypto exchange that’s licen...
with the CEO of one company using customer funds to try to plug holes at another one he owned. But what makes the FTX story distinctive, and important, is that so much of the “money” involved here was money FTX basically invented, in ...
One of the biggest questions that remains to be answered is whether FTX creditors get their money back and if so, when? Margaret Rosenfeld, a corporate securities lawyer, specializing in digital assets, told Cointelegraph that she believes it will take years before any FTX creditors receive a...
If you start to feel swayed by a high-profile endorsement, just remember the fraudulent practices of FTX and the FTX commercials starring Steph Curry and Shaq.Can you get scammed when forex trading?Yes, you can be scammed when trading forex. Unfortunately, there are countless forex scam ...
That sparked a run on the bank, as spooked customers sought to get their money out of FTX. But FTX now didn’t have the money to cover the withdrawals. For a few days, Bankman-Fried ordered Alameda to sell anything it could to amass the capital necessary to cover the withdrawa...
Cryptocurrencies are not illegal in the United States. But when it comes to acquiring them, what services and exchanges you should use and what you can use them for may differ depending on your state. However, after the fall of the FTX Exchange, new regulations are expected in the crypto ...
also known as SBF. SBF was found guilty of wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to commit commodities fraud. He and his staff at FTX used billions of customer funds to live a lavish lifestyle...
The company had been engaged in massive fraud. Its founder Samuel Bankman-Fried was sentenced to 25 years in prison. As a result of the criminal activity, FTX did not emerge from Chapter 11 as a reformed company; it no longer exists.3 ...
Since PayPal has no way of checking if that’s true or not (since Bitcoin transactions are hard to trace, just like cash), it’s highly likely that PayPal will issue a chargeback and refund me. This way, I get both the BTC and my money back. You (i.e., the seller) will be ...
Many customers wouldn’t agree. Their deposits of cryptocurrencies with FTX were valued at the crypto prices on the date of the bankruptcy filing in 2022. Their holdings were converted to dollars at those prices, and that (plus interest) is what they...