Former FTX CEO Sam "SBF" Bankman-Fried denied knowledge of why user funds were moved from a bank account with Alameda Research to a firm called North Dimension, which is allegedly used for money laundering. Bankman-Fried suggested that banks may have been more comfortable with North Dimension, avoiding well-known hedge funds connected to crypto like Alameda. He also testified to believing that taking FTX deposits through Alameda Research was legal, but did not recall discussions with auditors about FTX user funds going to the entity as well as Alameda. The criminal trial, which started on Oct. 3, will likely end within the next seven days following Bankman-Fried's testimony and closing arguments from both sides.
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Former FTX CEO denies knowledge of alleged money laundering scheme in court testimony
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U.S. consumer confidence improves again in November, reaching a two-year high
Dana M. Peterson, Chief Economist of the World Large Enterprises Federation, said, "US consumer confidence continued to improve in November, reaching the highest level in the past two years. The growth in November was mainly due to consumers' more positive assessment of the current situation, especially in the labor market. Compared with October, consumers' optimism about future employment opportunities has also greatly increased, reaching the highest level in nearly three years. At the same time, consumers' expectations for future business conditions have not changed, while their optimism about future income has slightly declined." Earlier, the US Conference Board Consumer Confidence Index for November recorded 111.7, a new high since July 2023. -
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Equation News calls out Binance for "insider trading": You are destroying the sentiment of the trading market
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