[ad_1] A substantial amount of FTX’s assets are either missing or stolen, a lawyer for the failed crypto exchange said in court, vowing to cast a wide net to secure potentially billions of dollars in funds that passed through the firm he called the “personal fiefdom” of co-founder Sam Bankman-Fried. Tuesday’s hearing marked an inflection […]
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[ad_1] FTX is expected to make its debut appearance Tuesday in Delaware bankruptcy court, where its new management is expected to recount events leading up to the cryptocurrency platform’s sudden collapse and explain the steps it has since taken to secure customer funds and other assets. FTX’s lawyers are advancing an unprecedented chapter 11 case […]
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[ad_1] To make the deal work, Mr. Musk has been trying to add subscription revenue and reassure advertisers about the platform’s future. Twitter was losing money before Mr. Musk bought the company, and the deal added a debt burden that requires fresh sources of cash. It is tough to determine the state of the company. […]
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[ad_1] U.S. Biden administration’s new rules come after courts blocked its mass debt-cancellation plan [ad_2] Source link Source link
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[ad_1] NASSAU, Bahamas—Sam Bankman-Fried’s $32 billion crypto-trading empire collapsed in an incandescent bankruptcy last week, prompting irate customers, crypto acolytes and Silicon Valley bigwigs to ask how something that seemed so promising could have imploded so fast. The emerging picture suggests FTX wasn’t simply felled by a rival, or undone by a bad trade or […]
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[ad_1] The lack of detail in financial statements echoes past scandals including Enron. [ad_2] Source link Source link
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[ad_1] The crypto exchange exhibited a “complete failure of corporate controls,” former Enron chief John Ray said in his first detailed filing with the bankruptcy court. [ad_2] Source link Source link
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[ad_1] More than $400 million worth of crypto funds appears to be missing, according to a crypto analytics firm. [ad_2] Source link Source link
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[ad_1] Alameda Research CEO and senior FTX officials are said to have known that FTX had lent its customers’ money to Alameda to help it meet its liabilities. [ad_2] Source link Source link
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[ad_1] The cryptocurrency platform said Sam Bankman-Fried would remain at the company to assist with an orderly transition and it would begin a process to review and monetize assets for stakeholders. [ad_2] Source link Source link
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[ad_1] The vaping company says it will lay off about 400 people after getting a bailout from board members. [ad_2] Source link Source link
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[ad_1] Business Autos & Transportation Autos Industry End of the road for unprofitable venture that made and distributed the Jeep brand in the world’s biggest auto market [ad_2] Source link Source link
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