Daily Archives: December 28, 2022, 9:42 am

FTX customers file class action to lay claim to dwindling assets | Reuters

FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried on Tuesday, seeking a declaration that the company’s holdings of digital assets belong to customers. *** FTX pledged to segregate customer accounts and instead allowed them to be misappropriated and therefore customers should be repaid first, according to the lawsuit…

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Divided appeals court rejects 4 insider trading convictions | The Seattle Times

A divided appeals court on Tuesday rejected the insider trading convictions of four men, including an ex-government employee turned consultant, prompting a sharp dissent from a judge who says the ruling may prompt insiders to sell confidential government information to the highest bidders. The decision of the 2nd U.S. Circuit Court of Appeals came in a case in which a…

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Sam Bankman-Fried’s Power Was Contingent on Belief – The New York Times

Theranos, WeWork, countless early dot-coms and pre-2008 financial instruments: Almost all began as exciting business stories about people and companies that seemed poised to remake their industries in innovative ways and had the capital, growth or returns to suggest they might be on to something. Those articles continued right until the businesses imploded amid revelations of fraud, incompetence or brazen…

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Crypto Exchange Kraken to End Japan Operations

Cryptocurrency exchange Kraken said it will exit Japan and de-register from the Financial Services Agency (JFSA) as of Jan. 31. The decision was prompted by “current market conditions in Japan in combination with a weak crypto market globally,” the company said in a blog post. Kraken users in the country have until the end of next month to withdraw their…

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