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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (193406)	11/9/2022 8:37:04 PM
From: TobagoJack	Respond to of 217729

SBF did, or responsible for no-no Admittedly his companies were non-USA companies, but likely some of his clients were USA clients, and more importantly, if FTX had taken in money from nasty folks, SBF done for irrespective of how his legal issues work out. bloomberg.com Sam Bankman-Fried's FTX Empire Faces US Probe Into Client Funds, Lending SEC, CFTC scrutinize relationship between FTX.com and FTX US SEC investigation predates Binance move to buy FTX.com Olga Kharif 10 November 2022 at 01:22 GMT+8 US regulators are investigating whether beleaguered crypto-exchange FTX.com mishandled customer funds, and they’re looking into the firm’s relationships with other parts of Sam Bankman-Fried’s crypto empire. The inquiries by the Securities and Exchange Commission and the Commodity Futures Trading Commission relate to the liquidity crisis that has pushed FTX to the brink, according to three people familiar with the matter. The SEC’s scrutiny started months ago as a probe into FTX US and its crypto-lending activities, said two of the people, who who weren’t authorized to speak publicly on the matter. FTX’s turmoil led to a tentative rescue offer by rival exchange Binance Holdings Ltd., which now may balk as the scope of FTX’s distress becomes more apparent. American regulators are also looking into the platform’s relationship with its American counterpart FTX US and Bankman-Fried’s trading house Alameda Research, two of the people said. Sam Bankman-Fried Photographer: Ting Shen/Bloomberg Representatives for the SEC and Binance declined to comment. The CFTC, FTX and FTX US didn’t immediately respond to requests for comment. The troubles at FTX.com follow high-profile collapses this year by crypto firms that have prompted calls for more US regulation. Although various Washington agencies claim some turf, questions over who should oversee trading platforms continue to swirl. The CFTC’s jurisdiction over crypto is generally limited to derivatives, but the agency can take enforcement action if it believes there’s fraud or manipulation in the underlying market. The SEC claims oversight over digital coins that qualify as securities under its rules. Both regulators also oversee investment firms. Read More: FTX’s Financial Black Hole Leaves Binance Balking at Rescue Plan In recent days, the regulators have asked for details about the ownership structure of FTX US and FTX.com, which caters to non-American clients, according to two of the people. Regulators are interested in any overlap between management and board structures, and the financial relationship between the two entities. The agencies have also asked for details on whether customer accounts were properly segregated and the composition of the investor base at FTX.com, said one of the people. SEC Chair Gary Gensler has repeatedly warned about risks associated with digital-asset exchanges. He has said that many platforms may be violating securities laws by offering unregistered securities to Americans, improperly providing loans, or even front-running their clients’ trades. Gensler has also raised concerns that firms may be engaged in conflicting lines of business and suggested that they should potentially split up the different functions. Top CFTC officials have expressed concerns about the risk of crypto platforms mishandling customer assets. “There is not enough awareness or attention on this critical area where customer protections dovetail with financial stability risks,” Democratic CFTC Commissioner Christy Goldsmith Romero said in a speech last month without mentioning any firms by name. Bitcoin, the largest token by market value, fell as much as 9.9% to $16,853 on Wednesday. That brings this week’s decline to almost 20%. (Updates with details on probe starting in seventh paragraph.)

To: TobagoJack who wrote (193406)	11/9/2022 8:40:05 PM
From: TobagoJack	Respond to of 217729

More SBF tales bloomberg.com FTX Warns of Bankruptcy Without Rescue for $8 Billion Shortfall Gillian Tan updated an hour ago Sam Bankman-Fried told FTX.com investors Wednesday that without a cash injection the company would need to file for bankruptcy, according to a person with direct knowledge of the matter. On a call before Binance pulled an about-face and bailed on its takeover offer, Bankman-Fried informed investors his crypto exchange faced a shortfall of up to $8 billion and needed $4 billion to remain solvent, the person said, asking not to be named discussing private talks. FTX is attempting to raise rescue financing in the form of debt, equity, or a combination of the two, the person said. “I f---ed up,” Bankman-Fried told investors on the call, according to people with knowledge of the conversation. He said he would be “incredibly, unbelievably grateful” if investors could help. An FTX representative declined to comment. Sam Bankman-Fried Photographer: Ting Shen/Bloomberg The acknowledgment of his firm’s deepening troubles and limited options is a stunning turn for the crypto industry’s onetime wunderkind, who was once worth $26 billion and likened to John Pierpont Morgan. It also underscores the uncertainty hanging over FTX, its clients and cryptocurrency markets. Hanging in the balance as the exchange teeters is not just the fate of its investors and lenders but anyone who has been unable to retrieve customer assets since it halted some withdrawals earlier in the week. The failure of crypto firms Celsius and Voyager saw billions in client money tied up in bankruptcy proceedings. Still, Bankman-Fried remained defiant during a hectic period of roughly 24 hours that included mounting speculation that Binance wouldn’t go through with the deal. He repeatedly told investors during the conference call on Wednesday afternoon that it was simply not true that Changpeng Zhao was walking away from the takeover, the person said. About an hour later, Binance said it was indeed backing out. Read more: Binance Backs Out of FTX Rescue, Citing Finances, Investigations “Our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help,” Binance, the crypto exchange founded by Zhao, said in a statement. In addition to the financial strains, FTX is drawing attention from US authorities. The Securities and Exchange Commission and the Commodity Futures Trading Commission are investigating whether the firm properly handled customer funds, as well as its relationship with other parts of Bankman-Fried’s crypto empire, including his trading house Alameda Research, Bloomberg News reported Wednesday. Officials from the Justice Department also are working with SEC attorneys, one of the people said. Zhao said in a memo earlier on Wednesday that there was no “master plan” to take over FTX, and that “user confidence is severely shaken.” The renewed concern about contagion risk is showing up in the plunging prices of digital assets. Bitcoin fell below $16,000, the lowest in two years, after Binance’s announcement. Coinbase Chief Executive Officer Brian Armstrong said Tuesday in a Bloomberg TV interview that if the deal with Binance fell through, it would likely mean FTX customers would take losses. “That’s a not a good thing for anybody,” he said. For crypto market prices: {CRYP}; for top crypto news: {TOP CRYPTO}. — With assistance by Yueqi Yang and Hannah Miller (Updates with funds needed to remain solvent, comment from call and DOJ’s coordination with SEC from second paragraph.)

To: TobagoJack who wrote (193406)	11/9/2022 8:43:40 PM
From: TobagoJack	1 Recommendation Recommended By Pogeu Mahone Respond to of 217729

SBF testifying on Capitol Hill when the going was going, starting at 23 min mark, classic, nearly 5 hrs of - well - entertainment

To: TobagoJack who wrote (193406)	11/10/2022 12:39:01 AM
From: maceng2	Read Replies (3) \| Respond to of 217729

<<and I am assuming it be all lost-lost.>> Yes, I have a small amount of crypto and USD at Coin List and happy to leave it there as is. I like Coin List as it also trades pairs in straight USD rather than USDT or whatever. That could be important at some point. I also do not have any crypto staked as a precaution. Not sure if that is important or not, but looking for safety options where possible in the matter of counterparty risk. To get the full value of your lost $700, perhaps put in an inquiry at the exchange requesting update of funds in transfer. The recovery team should come back with an answer, even if several months from now, with an expected recovered amount. Who knows, maybe $700 of BTC lands safely at Coin List. But yes, important not to chase losses with more money. Ever more crucial at these times. I am biting lip on a few of those myself, but happily nothing severe. I have blown more money buying fripperies out side of financial markets. A good sign. -g- A Chinese made digital tyre pump arrived in the post yesterday. I read it was 4hp on Ebay, but in fact I think only 0.4hp but it does a great job and have the car tires at overpressure of 2psi over recommended. Checked with a separate digital tyre pressure gauge and monitoring. Fuel consumption has a strong dependence of tyre pressure so best to check often, fuel prices being what they are. I was looking at an ancient dish washer yesterday too. Probably made in the 1950's or 1960's. Manufactured in England, and those were the days when we still manufactured stuff. It sold at a price to a museum where a new Bosh can be purchased with maybe some change left over. China is an important place these days, as ever, not for just the manufactured goods but the expertise and infrastructure that goes with the manufacturing industry. We have some silly politicians who don't have a grip on reality far as I can tell, and that is putting it mildly.