What the FTX Scandal Reveals About Third Party Risk Evaluation: In light of the recent FTX scandal, this article takes a look at the third party risk evaluations that should take place going forwardWood, Charles CressonISSA Journal
Fintech regulation isundergoing major changes, so companies need to stay up-to-date. The expansion of technologies like embedded finance has led federal regulators to take a stronger stance on fintech-bank partnerships, releasing aset of guidelines. In addition, the CFPB is seeking tosupervise Big...
A little over a year ago I published an article on lifeinthearmy.com, titled “The Big Lie About the US Army – What the US Army is not telling the American People”. In it I talk about the standards being higher now, than ever, especially physical fitness, the Army Combat Fitness Te...
The FTX crisis may not be the most well-known example of corporate malfeasance, but according to some estimates, the scale of investor losses could eclipse the Enron scandal. Some of the most egregious issues at FTX included: Use of corporate funds to purchase homes for employees; ...
The collapse of FTX probably won’t mean very much forForex affiliatesin the long term. Cryptocurrencies and crypto exchanges are part of the financial landscape and are here to stay. The collapse of FTX, and the significant financial scandal that is emerging, may push the authorities to...
Thecollapseof $32 billion cryptocurrency exchange FTX, like other scandal-ridden corporate failures, has yanked a once-celebrated executive into the harsh light of public scrutiny. Sam Bankman-Fried, the 30-year-old founder of FTX, was arrested Monday in the Bahamas after federal prosecutors inNew...
The FTX bankruptcy has had widespread impact on the cryptocurrency industry, also leading to the bankruptcy of the BlockFI exchange due to its exposure to FTX assets. The BlockFi collapse led to further investor losses. Ongoing fears aboutpotential new regulationsto place more controls on cryptocurren...
Bankman-Fried and other wealthy FTX executives donated at least USD 40 million to the Democrats’ election campaign and possibly also to the republicans. More dubious facts will no doubt emerge in the coming years. For now, it is more than clear that FTX was a scam, with crypto as conduit...
U.S.-based crypto traders could only access partner entity FTX US—a registered money services business (MSB) withFinCEN.In October 2021, FTX US completed itsacquisitionof cryptocurrency derivatives exchange platform LedgerX, rebranding it as FTX US Derivatives. FTX US Derivatives is licensed as a ...
FTX Collapse Timeline—2022 to 2024 2022 Nov. 2: CoinDesk reports that the balance sheet for FTX's sister trading firm, Alameda Research, is comprised mostly of FTX's native exchange token, FTT. Nov. 6: Rival exchange Binance sells all FTT tokens. Customers begin withdrawing funds from FTX...