Current Events > Economics
FTX Assets Frozen By Bahamas Regulator, Liquidator Appointed, Arrest Rumored
Ptarmigan:
FTX Assets Frozen By Bahamas Regulator, Liquidator Appointed, Arrest Rumored
https://www.zerohedge.com/markets/ftx-assets-frozen-bahamas-regulator-liquidator-appointed
--- Quote ---The Bahamas Securities Commission has frozen the assets of FTX Digital Markets “and related parties" and has appointed a provisional liquidator as the Bahamas securities regulator seeks to place the beleaguered crypto exchange into receivership, i.e. bankruptcy, the agency said in a statement issued late on Thursday.
The lockdown comes just hours after Sam Bankman-Fried said that he is closing his affiliated trading house at the center of the FTX scandal, Alameda Research, and after FTX said it may halt trading in FTX US, the remote US-based platform which has so far avoided scrutiny.
An asset freeze was “the prudent course of action” to preserve assets and stabilize the company, the agency said.
“The commission is aware of public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to Alameda Research. Based on the commission’s information, any such actions would have been contrary to normal governance, without client consent and potentially unlawful" it warned
--- End quote ---
FTX Digital Markets has collapsed. It could cause cryptocurrency to collapse.
FTX Digital Markets is where cryptocurrency is traded. More at the link.
https://www.investopedia.com/ftx-exchange-5200842
Ptarmigan:
Hero to Zero: Dems’ ‘Newest Megadonor’ Faceplants on Election Day
https://freebeacon.com/democrats/hero-to-zero-dems-newest-megadonor-faceplants-on-election-day/
--- Quote ---The man who has cast himself as one of the Democratic Party’s emergent power players found his company in shambles—forced to sell to its biggest rival—on Election Day.
Suffering from a liquidity crunch after a run in which users pulled nearly $6 billion from the company, according to Reuters, Sam Bankman-Fried was forced into an emergency sale to a rival company, Binance. The announcement of FTX’s acquisition prompted Bitcoin to plummet to two-year lows.
It's a stunning reversal for the 30-year-old who donated over $5 million to Joe Biden's campaign in 2020 and who just three months ago was vaunted as a potential savior for Democrats in the midterm elections. "Some Democrats see Bankman-Fried’s investments and engagement as the thing that could help them hold back a red midterm wave," Politico reported in August.
--- End quote ---
Sam Bankman-Fried is a Democrat megadonor. His company, FTX, has collapsed.
Drafe Hoblin:
Presenting the Laundromat Elite...
https://www.thegatewaypundit.com/2022/11/breaking-exclusive-tens-billions-transferred-ukraine-using-ftx-crypto-currency-laundered-back-democrats-us/
Ptarmigan:
--- Quote from: Drafe Hoblin on November 13, 2022, 06:07:09 AM ---Presenting the Laundromat Elite...
https://www.thegatewaypundit.com/2022/11/breaking-exclusive-tens-billions-transferred-ukraine-using-ftx-crypto-currency-laundered-back-democrats-us/
--- End quote ---
--- Quote ---Sam Bankman-Fried is Biden’s second biggest donor.
In addition to this, Daily Caller lists many of the lawmakers who Sam Bankman Fried was bankrolling who oversaw the institution that was supposed to keep on eye on companies like FTX:
Sam Bankman-Fried, prolific Democratic donor and ex-CEO of now-bankrupt cryptocurrency exchange FTX, funded the campaigns of members of Congress overseeing the Commodity Futures Trading Commission (CFTC), one of the key bodies tasked with regulating the crypto industry and the subject of Bankman-Fried’s aggressive lobbying.
Bankman-Fried’s FTX is currently under investigation by the CFTC and the Securities and Exchange Commission (SEC) after Bankman-Fried allegedly moved $10 billion in client assets from his crypto exchange to his trading firm Alameda Research, and a liquidity crisis at his exchange which prompted the company to file for bankruptcy. However, prior to the agency’s probe, Bankman-Fried aggressively courted the CFTC – and funded several key lawmakers charged with overseeing the agency, pouring cash into their campaign coffers.
FTX also happens to be related to Ukraine.
--- End quote ---
Ptarmigan:
FTX Facing Criminal Probe By Bahamas Authorities, But Musk Counters There Will Be "No Investigation" Of "Major Democrat Donor" SBF
https://www.zerohedge.com/markets/sbf-questioned-bahamas-police-elon-counters-there-will-be-no-investigation-major-democrat
--- Quote ---Amid growing speculation of his whereabouts, Bloomberg reports that Sam Bankman-Fried was interviewed by Bahamian police and regulators on Saturday, although Bloomberg was quick to add that in the Bahamas, law-enforcement inquiries don’t necessarily mean someone will be arrested or charged with a crime.
In a separate report, Bloomberg also notes that the Bahamian police said they’re working with the Bahamas Securities Commission to investigate whether there was any criminal misconduct in the collapse of the crypto exchange FTX (narrator: there was).
“In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd., a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred,” a police spokesperson said in a statement Sunday.
Separately, CoinTelegraph adds that in addition to SBF, the low profile FTX co-founder Gary Wang and director of engineering Nishad Singh are also said to be in the Bahamas and are “under supervision” by the local authorities. A source familiar with the matter told Cointelegraph that the three former FTX executives, as well as Alameda Research CEO Caroline Ellison, are looking for ways to flee to Dubai. While the plan was made assuming that the United States “doesn't have any extradition treaties” with the UAE, the nations signed a mutual legal assistance treaty (MLAT) back on Feb. 24, 2022, to work against criminals.
--- End quote ---
The FTX executives could flee to either UAE or Argentina.
Navigation
[0] Message Index
[#] Next page
Go to full version