What to watch for in the FTX hearings following Sam Bankman-Fried's arrest
Congress is set to hold hearings Tuesday and Wednesday on the dramatic collapse of the cryptocurrency exchange FTX.
Source: washingtonexaminer.com
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How screwed is Sam Bankman-Fried?
A month after the collapse of his cryptocurrency exchange, the FTX founder has finally been arrested, pending charges from the Southern District of New York. Based on the complaint released by the Securities and Exchange Commission, his legal prospects do not look good. The SEC has accused Bankman-Fried of "orchestrating a massive, years-long fraud" from the start, diverting billions of FTX deposits to his quantitative trading firm, Alameda Research. Even worse for the corporate media's (former) favorite financier, his colleagues could be turning on him to save themselves.
Source: washingtonexaminer.com
FTX used QuickBooks and Slack for finances, new CEO says
The CEO hired to guide FTX through bankruptcy testified that the company used QuickBooks and instant messaging to handle its finances.
Source: washingtonexaminer.com