Daily Archives: January 22, 2024, 9:56 am

Bankman-Fried’s FTX to get bankruptcy examiner to probe collapse – US appeals court | Reuters

A federal appeals court on Friday ordered the appointment of an independent bankruptcy examiner to investigate the Nov. 2022 collapse of FTX, the cryptocurrency exchange once led by the convicted Sam Bankman-Fried. Reversing a lower ruling, the 3rd U.S. Circuit Court of Appeals in Philadelphia agreed with a government watchdog that appointing an examiner was mandatory under the U.S. Bankruptcy…

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Spot Bitcoin ETFs Spurned as Vanguard Pulls All Crypto Products – Bloomberg

Amid the euphoria unleashed by the long-awaited debut of the first fully fledged Bitcoin exchange-traded funds in the US, Vanguard sparked uproar last week with its pointed decision to refuse to offer the new ETFs on its gigantic trading platform. #BoycottVanguard started trending on X, accumulating thousands of posts, with users pledging to pull their money from the asset management…

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CEO of Crypto Investment Platform Charged in Multi-Million Dollar International Fraud Scheme | DOJ Press Release

This morning, Horst Jicha, a German national, will be arraigned at the federal courthouse in Brooklyn on an indictment charging him with securities fraud and conspiracies to commit securities fraud, wire fraud, and money laundering for his role in a cryptocurrency scheme called USI Tech.  Jicha was arrested, and the charges against him were unsealed when he entered the United…

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ADM Places CFO on Leave, Cuts Earnings Forecast Amid Probe

Archer-Daniels-Midland Co. placed its chief financial officer on leave and cut its earnings outlook pending an investigation into the agricultural trading giant’s accounting practices. CFO Vikram Luthar has been put on administrative leave, effective immediately, and Ismael Roig will serve as interim CFO, the company said in a statement on Sunday. The shares were down as much as 16% in…

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NCLA Amicus Brief Asks Supreme Court to End SEC Gags on Targets of Settled Enforcement Cases

Today, the New Civil Liberties Alliance filed an amicus curiae brief in Elon Musk v. Securities and Exchange Commission urging the Supreme Court to grant Musk’s cert petition and strike down SEC’s “Gag Rule” censoring every American with whom it settles a regulatory enforcement case. For over 50 years, SEC has forbidden all enforcement targets from even truthfully criticizing their…

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The phone-transcript mystery in the Morgan Stanley block trading settlement

For the record: The statement of facts in the case includes multiple transcribed phone calls between Passi and hedge funds. But they weren’t obtained easily. The wording is intriguing: “These calls were not recorded by Morgan Stanley, nor did they take place on a regularly-recorded line, unless otherwise noted. Rather, the Government obtained the calls described below, as well as…

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