FTX bankruptcy hearing unveils latest developments in crypto exchange's collapse
FTX founder Sam Bankman-Fried lied to regulators ‘around the world’: Changpeng Zhao
Binance CEO Changpeng ‘CZ’ Zhao discusses the latest fallout from the FTX collapse and how that is expected to impact his company’s operation on ‘Varney & Co.’
Attorneys representing crypto exchange FTX peeled back the curtain on the company's downfall at its first Chapter 11 bankruptcy hearing Tuesday, revealing the latest findings as new management sorts through what one FTX lawyer called founder Sam Bankman-Fried's "personal fiefdom."
The Delaware court heard how there are an estimated 1 million customers impacted by billions in losses, and agreed – for now – to keep those creditors' names private.
FTX, BANKMAN-FRIED'S PARENTS, SENIOR EXECS BOUGHT $121M WORTH OF BAHAMAS PROPERTIES: REPORT
Another new development is that the Justice Department has now opened an investigation into FTX hacking attempts and "substantial" assets missing from the firm.
The logo of FTX is seen at the entrance of the FTX Arena in Miami, Fla,, Nov. 12, 2022. (Reuters/Marco Bello / Reuters Photos) FTX lawyers noted that the company, under its previous management, shelled out roughly $300 million on Bahamas real estate used by executives. GET FOX BUSINESS ON THE GO BY CLICKING HERE This is a developing story. Please check back for updates. Reuters contributed to this report. Source: Read Full Article