Daily Archives: December 9, 2022, 9:31 am

FTX 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 founder and former CEO Sam…

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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 editing one or more email…

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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 have had on their businesses.…

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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,” Mr. Zhao wrote in a…

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