fbpx

UPDATE 1-U.S. authorities probe FTX collapse, executives' involvement -sources – Yahoo Finance

(Adds details about SEC probe)
By Chris Prentice
Nov 14 (Reuters) – U.S. prosecutors in New York are probing FTX's collapse, a source with knowledge of the investigations said, after the crypto exchange filed for bankruptcy protection last week following a rush of customer withdrawals.
The Justice Department, Securities and Exchange Commission and Commodity Futures Trading Commission are now all investigating how FTX handled customer funds as Alameda Research, the proprietary trading firm of FTX Chief Executive Sam Bankman-Fried, unraveled, the source said. FTX had been confronted with an apparent liquidity crunch after using customer funds to prop up Alameda.
The SEC's probe also targets FTX executives in the firm's handling of customer funds and any potential breaking of securities laws, a second source said.
The U.S. Attorney's Office in Manhattan, the SEC and the CFTC declined to comment.
FTX did not immediately respond to a request for comment.
FTX's bankruptcy followed a failed rescue deal with rival exchange Binance, with FTX now facing scrutiny from U.S. regulators over its handling of customer funds, as well as its crypto-lending activities.
Reuters reported last week that at least $1 billion of customer funds have vanished from FTX, citing sources.
FTX's demise marks the latest turmoil for the cryptocurrency industry this year. The overall crypto market has slumped amid a string of meltdowns that have taken down other key players including Voyager Digital and Celsius Network. (Reporting by Chris Prentice in Washington and Mehnaz Yasmin in Bengaluru Additional reporting by Karen Freifeld in New York Editing by Arun Koyyur and Matthew Lewis)
Cathie Wood has built her career on holding contrarian views and her Ark Invest firm has been known to go against the grain. As such, 2022’s bear market has done little to change her stance. In fact, recently, Wood has been arguing that the Fed’s aggressive monetary stance in its ongoing efforts to curb soaring inflation is misguided. Highlighting deflationary signals, Wood says that unless it changes tack, the Fed’s actions could result in a repeat of the the Great Depression. “If the Fed does
The hits just keep coming for the bird app.
Warren Buffett is having a much better year than most S&P 500 investors. And he can thank a handful of stocks for that.
If a time machine could take you back to the start of the 2000s — without the desire to open up a crypto wallet — what’s the No. 1 investment you would make? Maybe Apple Inc. (NASDAQ: AAPL), which has sold 1.3 billion iPhones since 2007 and reported a $19.4 billion profit last quarter? Or Tesla Inc. (NASDAQ: TSLA), which went from selling just 937 cars in 2009 to over 300,000 last year? Some savvy income investors might consider Altria Group Inc. (NYSE: MO). The tobacco giant, formerly Phillip M
2022 has undoubtedly been a rough one for investors. Even accounting for the recent gains, all the major indexes are still down for the year and the backdrop of economic uncertainty still hovers menacingly. Such an environment makes it difficult to find the stocks which are primed to charge ahead, but one way to sort the wheat from the chaff is to follow in the footsteps of legendary stock pickers. And few are as well-versed in the investing game as billionaire Steve Cohen. Famous for his high-r
Nearly three-quarters of the $420 million that FTX raised in a fundraising blitz last year went to founder Sam Bankman-Fried, who sold some of his personal stake in the company.
It’s not just about crypto.
In this article, we discuss top 10 dividend stocks to buy according to Warren Buffett. You can skip our detailed analysis of Berkshire Hathaway’s performance and Buffett’s investment strategy, and go directly to read Warren Buffett’s Top 5 Dividend Stock Picks. The ongoing market volatility has opened new investing avenues for the world’s greatest value […]Rivian has enough capital to take it through 2025, but it seems GM will have plenty of money for its growth investments by that time.
Warren Buffett is widely hailed as the greatest value investor of all time. A look at Berkshire's holdings reveals a host of sensible, inexpensively valued bank and financial stocks along with a handful of consumer staples and energy names. While Buffett has long had a penchant for financials, he hasn't been particularly noted as a tech investor, aside from his investment in Apple, which has become Berkshire's top holding.
On the heels of Intel CEO buying the company’s stock, the chip giant’s newest director also scooped up shares. Lip-Bu Tan, who joined Intel’s (ticker: INTC) board on Sept. 1, paid $1.35 million on Nov. 8 for 48,146 shares, an average price of $27.98 per share, according to filing with the Securities and Exchange Commission. Tan now owns 50,500 Intel shares in a personal account.
From a $1 billion loan to Sam Bankman-Fried to missing funds and payment-disbursement emojis, here are some of the eye-popping revelations from FTX’s new CEO
Merck (NYSE: MRK) is of course one of the world's biggest and best-known pharmaceutical outfits, with diabetes treatment Januvia, HPV vaccine Gardasil, and cancer-fighting Keytruda all part of its drug portfolio. There's no denying the Goldman Sachs (NYSE: GS) name doesn't quite turn heads the way it used to.
Fintech companies have revolutionized investing, investors have often been able to scoop up stocks for no trading commissions over the last few years. Investors who have a few dollars to invest can buy at least one whole share of each of these three affordable stocks for less than $50. Regardless of what's going on around the world, it's a safe bet (sadly health-wise) that cigarettes will always be consumed due to nicotine's addictive nature.
In this article, we discuss top dividend stocks to buy according to billionaire Bill Gates. You can skip our detailed analysis of Gates’ foundation and its performance over the years, and go directly to read Bill Gates’ Top 5 Dividend Stocks. Founded in 2000, Bill & Melinda Gates Foundation Trust is one of America’s largest […]Yahoo Finance Live examines shares of dating app Grindr on the same day of its market debut via a SPAC deal.
It's not a secret that every investor will make bad investments, from time to time. But it's not unreasonable to try to…
Zacks.com users have recently been watching Petrobras (PBR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The surge of inflation this year has put numerous companies under pressure — but banks are a bright spot. Here are three offering attractive yields.
Yahoo Finance Live's Seana Smith examines several trending stocks in the after-hours trading session.

source

Leave a Comment

Your email address will not be published.