FTX faces criminal probe in Bahamas after company collapses, loses $1 billion in crypto

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 53%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Former Crypto billionaire and top Democratic donor Sam Bankman-Fried's FTX crypto market is facing a criminal investigation in the Bahamas, police announced Sunday.

D.A. Davidson director of research Gil Lauria and Duke Financial Economics Center policy director Lee Reiners debate the case for cryptocurrency as the FTX crisis continues to unfold on 'The Claman Countdown.'

FTX, co-founded by former crypto billionaire and top Democratic donor Sam Bankman-Fried, reported that roughly $1 billion indue to "unauthorized transactions." The company is based in the Bahamas and filed for bankruptcy last week, leading to an investigation from the country's securities commission, Bloomberg reported Sunday.

Bankman-Fried resigned as the FTX CEO last week in a letter that also filed for Chapter 11 bankruptcy. This illustration photo shows a smart phone screen displaying the logo of FTX, the crypto exchange platform, with a screen showing theFTX was the third-largest crypto market in the world at the start of last week when it announced liquidity problems and would need a massive infusion of cash to stay afloat.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

They also need to investigate the democrat party who received donations from him.

This man should be jailed

That's how Zionists make their wealth by robbing Pensions and large investors through their Hedge Funds. Every robber is always a Zionist running a Hedge Fund

This little turd will never be convicted or sentenced to anything more than a little slap on the wrist.

FTX crash Nov 14. 2022 🤑🥳🥳🥳🥳🥳

Huh, that’s not bad…

The same reasons people like cryptocurrency are the same reasons they should fear it!

Crypto, yeah, the new definition of 'Vaporware'.....

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto.com CEO Shares Company's Crypto Reserve Addresses in the Wake of FTX Bankruptcy – Bitcoin NewsCrypto․com's Marszalek says a “proof-of-reserves audit preparation is underway” and the wallet addresses shared are the company’s cold wallets. Ok, I only listen to ChiefraFba for signals! Suuuuuuure who are the shareholders of CRO?
Source: BTCTN - 🏆 531. / 51 Read more »

FTX CEO John Ray Confirms Late-Night Hack, Says Company Is Working With Law EnforcementNew FTX_Official CEO John Ray said the company is “in contact with, and are coordinating with law enforcement and relevant regulators” after last night’s hack. cheyenneligon reports FTX_Official cheyenneligon “Hack” 😒 FTX_Official cheyenneligon Fraud ftx 😭😭😭😭 i lost everything in my life FTX_Official cheyenneligon
Source: CoinDesk - 🏆 291. / 63 Read more »