2:00PM Water Cooler 1/4/2023 | naked capitalism
Today's Water Cooler
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Another company of Sam Bankman-Fried (SBF), founder of fraudulent crypto company FTX who has swindled hundreds of millions of dollars from people with the
FTX directed users to wire money to a fake online electronics retailer, and SBF bought Robinhood using customer funds — Insider's Phil Rosen breaks it down.
Federal agencies' complaints against FTX's leaders have led to scrutiny of the banks it worked with. While it's unlikely the bankers will be held accountable for the cryptocurrency exchange's wrongdoing, the case could make it more difficult any bank that wants to work with crypto-related businesses.
North Dimension, a lowkey company, was essential to the misuse of FTX clients' money, according to the regulators.