The U.S. crypto exchange will pay a $50 million fine for letting customers open accounts with few background checks and spend $50 million to improve compliance.
Category: Securities and Exchange Commission
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Even After FTX, S.E.C. Chair Sees No Need for New Crypto Laws
The Securities and Exchange Commission chair, Gary Gensler, said existing rules were adequate but warned crypto issuers and exchanges on compliance.
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The Week in Business: The FTX Founder’s Rapid Fall
Elon Musk suspends several journalists’ Twitter accounts, then reinstates them. The Fed is continuing to raise interest rates. And inflation is affecting the mind-set of holiday shoppers.
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Prosecutors Charge that FTX Was Engaged in Fraud from the Beginning
A criminal indictment unsealed on Tuesday and a complaint by the S.E.C. describe years of wrongdoing in Sam Bankman-Fried’s crypto empire.
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S.E.C. Charges Sam Bankman-Fried With Defrauding FTX Investors
The founder of the collapsed crypto exchange was accused of “orchestrating a scheme to defraud equity investors” who put more than $1.8 billion into the company.
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FTX Founder Sam Bankman-Fried Faces Market Manipulation Inquiry
Federal prosecutors are investigating whether Sam Bankman-Fried and his hedge fund orchestrated trades in a way that led to the collapse of two cryptocurrencies in May.
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FTX Assets Still Missing as Firm Begins Bankruptcy Process
A substantial amount of the company’s assets are missing, an FTX lawyer told a bankruptcy judge on Tuesday.
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Inside Gary Gensler’s SEC Campaign to Rein In the Crypto Industry
Gary Gensler, the chair of the S.E.C., is at the center of a reckoning over the future of cryptocurrency after the implosion of FTX.
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Hundreds of Twitter Workers Quit as Musk Demands Loyalty
Hundreds of workers decided to leave the troubled social network, after Elon Musk demanded employees commit to a new “hard core” work environment.