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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSam Bankman-Fried’s Blame Alameda’s Ellison Defense Halted by FTX’s Gary Wang – Bloomberg
Sam Bankman-Fried for weeks seemed to be trying to get ahead of former Alameda Research CEO Caroline Ellison’s widely expected cooperation deal with prosecutors, subtly casting blame on her for FTX’s collapse. But when Manhattan US Attorney Damian Williams finally announced Ellison’s plea agreement Wednesday night, it came with a brutal stinger for Bankman-Fried: federal […]
JPMorgan’s Gross Says Crypto About Non-Existent for Institutions – Bloomberg
“As an asset class, crypto is effectively nonexistent for most large institutional investors,” Jared Gross, head of institutional portfolio strategy at the bank, said on this week’s episode of Bloomberg’s “What Goes Up” podcast. “The volatility is too high, the lack of an intrinsic return that you can point to makes it very challenging. ”In […]
Caroline Ellison Apologizes for Misconduct in FTX Collapse – WSJ
FTX executives had enacted special settings that granted Alameda access to an unlimited line of credit without having to post collateral, pay interest on negative balances or be subject to margin calls, she said. “I also understood that many FTX customers invested in crypto derivatives and that most FTX customers did not expect that FTX […]