FTX: Bahamas investigating collapsed crypto platform
By DW
14 November 2022 |
3:53 pm
FTX is suspected of misappropriating customer funds. The platform's founder and former CEO, Sam Bankman-Fried, lives in the island country.
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The troubled platform's new CEO said it was hit by "unauthorized transactions," fueling rumors of a cyberattack or insider theft. FTX filed for bankruptcy protection after a crypto equivalent of a bank run.
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John Ray III said the trading firm was poorly regulated in the Bahamas, where the company is headquartered. He also criticized the poor management style of his predecessor, Sam Bankman-Fried.
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