NEW: FTX's chapter submitting has simply been launched and it makes for surprising studying. Learn extra right here: https://medium.com/p/c3842410a698

Listed here are the newest developments and updates:

• SBF lent $1 billion to himself. Different staff embezzled thousands and thousands too: Nishad Singh: $540m, Ryan Salame: $55m

• SBF has admitted that the "ethics stuff" was "largely a entrance."

• The mess at collapsed cryptocurrency change FTX is worse than the one at Enron. That is based on the ex-Enron CEO who’s the brand new FTX CEO: “By no means in my profession have I seen such a whole failure of company controls.”

• Alameda, their hedge fund was EXEMPT from being liquidated when buying and selling on FTX, the courtroom submitting reveals

• FTX's 'holdings' of $5.5 billion of tokens at the moment are valued at simply $659k

• FTX executives donated $72m to the democrats and republicans this election cycle earlier than the mid-terms. Social gathering was not a difficulty, they have been making an attempt to purchase political affect

• One of many world's finest funding corporations Temasek has simply wrote down their complete $275m funding in FTX. $210mn in FTX Worldwide and $65mm in FTX US

• Crypto dealer Genesis Buying and selling has halted withdrawals at lending unit, they’ve $175mn in funds caught on FTX

• Crypto lender BlockFi is getting ready for imminent chapter, citing FTX collapse

This will get worse, day-after-day that goes by and SBF goes straight to jail.

Home of playing cards.

funding #ethics #cryptocurrency #ftx