Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInFTX Bankruptcy Team Said to Meet With Federal Prosecutors in NY – Bloomberg
John J. Ray III, who was appointed FTX’s chief executive officer last month, met this week with the US attorney’s office for the Southern District of New York. Though details of the meeting weren’t immediately available, it suggests potential overlap between the criminal investigation and bankruptcy probe, which has unearthed FTX’s chaotic corporate governance under […]
New Ransom Payment Schemes Target Executives, Telemedicine – Krebs on Security
“The Venus group has problems getting paid,” Holden said. “They are targeting a lot of U.S. companies, but nobody wants to pay them.” Which might explain why their latest scheme centers on trying to frame executives at public companies for insider trading charges. Venus indicated it recently had success with a method that involves carefully […]
US Watchdog Says Banks Shying Away From Stumbling Crypto Industry
U.S. banks have been cooling in their crypto interest since this year’s twin failing of Terra (and its currency, LUNA) and FTX, said Michael Hsu, the acting chief of the Office of the Comptroller of the Currency (OCC). “Overall, I can say – and this is going to be obvious – is that there was […]
SEC Asks Public Companies for More Information About Crypto Exposure – WSJ
The Securities and Exchange Commission is asking public companies to detail their exposure to distressed crypto entities following the collapse of trading platform FTX and its affiliates. In a notice posted to its website Thursday, the SEC said companies may have disclosure obligations related to the direct or indirect impact that recent crypto bankruptcies may […]
‘Shark Tank’ star says $15M payout from FTX was wiped out: ‘It’s all at zero’
O’Leary said he told the disgraced crypto tycoon, “Look Sam, I am just one investor, but my account has a zero in it, and there are no accounting records. Where did the money go? I need to find where the money went.” O’Leary admitted that he fell into the “groupthink” pitfall, drinking the Kool-Aid on […]
Inside the Frantic Texts Exchanged by Crypto Executives as FTX Collapsed – The New York Times
The day before the embattled cryptocurrency exchange FTX filed for bankruptcy, Changpeng Zhao, the chief executive of the rival exchange Binance, sent an alarmed text to Sam Bankman-Fried, FTX’s founder. Mr. Zhao was concerned that Mr. Bankman-Fried was orchestrating crypto trades that could send the industry into a meltdown. “Stop now, don’t cause more damage,” […]