The Securities and Exchange Commission charged Sam Bankman-Fried with “orchestrating a scheme to defraud equity investors” in FTX, it said. The SEC announcement came the same day that federal prosecutors in New York said they would unseal the indictment against the FTX founder which led to his arrest in the Bahamas on Monday night. Bankman-Fried “built a house of cards on a foundation of...
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Genesis Creditors Could Miss Out on Recent Crypto Rally
Crypto prices have risen since parts of crypto lender Genesis filed for chapter 11 bankruptcy last month, lifting the value of customers’ crypto assets stuck in Genesis accounts. That’s not necessarily good news for Genesis’ creditors, however. Creditors are worried that any repayments they get from the bankruptcy will be made in dollars, not the original cryptocurrencies,...
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