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: Virtual Currency
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Coinbase Reaches $100 Million Settlement With New York Regulators
The New York Times – Business: -
In the Bahamas, a Lingering Sympathy for Sam Bankman-Fried
The New York Times – Business:Residents there have a generous view of the disgraced FTX founder, who has been accused of misusing billions of dollars in customer funds.
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How Did Sam Bankman-Fried Make His $250 Million Bail?
The New York Times – Business:Though Mr. Bankman-Fried was not required to pay $250 million, the large amount of the bond in this high-profile case has raised questions about the federal bail process.
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Even After FTX, S.E.C. Chair Sees No Need for New Crypto Laws
The New York Times – Business: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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FTX Co-Founder Sam Bankman-Fried to Be Released on $250 Million Bond
The New York Times – Business:The disgraced cryptocurrency executive appeared in court in Manhattan after his extradition from the Bahamas last night. He was granted bail and will live with his parents in California.
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Two Executives in Sam Bankman-Fried’s Crypto Empire Plead Guilty to Fraud
The New York Times – Business:Caroline Ellison, the former chief executive of Alameda Research, and Gary Wang, a founder of FTX, are cooperating in the federal criminal case against Mr. Bankman-Fried.
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Sam Bankman-Fried Is Set for Extradition to U.S.
The New York Times – Business:The FTX founder agreed to be transferred from the Bahamas to face federal charges of fraud.
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Sam Bankman-Fried Said to Be in Talks With Prosecutors Over Bail Deal
The New York Times – Business:Lawyers for the FTX founder are in talks about a deal that could allow him to be released on bail when he is extradited to the United States on fraud charges.
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Sam Bankman-Fried Agrees to Be Extradited to the US
The New York Times – Business:The disgraced FTX founder, who has been in a Bahamas prison for the past week, agreed to be sent to the United States, following a confusing day in court.
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A Traditional Exchange? FTX Was Anything But.
The New York Times – Business:FTX called itself an exchange. But it was vastly different from stock exchanges, which are highly regulated and barred from engaging in many of the activities FTX pursued.