Lawmaker Pleads With Sam Bankman-Fried to Attend Congress Hearing on FTX — SBF Says He'll Testify When He's Ready
Congresswoman Maxine Waters, chair of the House Committee on Financial Services, has politely asked former FTX CEO Sam Bankman-Fried (SBF) to attend a congressional hearing on the collapse of his cryptocurrency exchange. Bankman-Fried says he will testify when he has finished “learning and reviewing what happened.” (Bitcoin.com)
Revealed: The Alameda Venture Capital Portfolio
A look inside Sam and Caroline’s grab-bag of crypto, etc.
Silvergate Debunks Rumours of a Liquidity Crisis Despite BlockFi, FTX Exposure
Silvergate bank has defended itself against allegations that it could be facing a liquidity crunch due to its close relationship with cash-beleaguered crypto exchange FTX and lending firm BlockFi.
Why Isn’t Sam Bankman-Fried In Prison For The FTX Fraud?
Some people even assert that he will never see prison time, but I’ll get to that in a minute.
Alameda’s Investment Portfolio: $5.4B Spread Across Almost 500 Illiquid Investments
Alameda’s investments included high-profile companies like SpaceX, and a variety of crypto tokens like Polygon (MATIC), and NEAR.
Signature Bank to Reduce Crypto-Tied Deposits By As Much as $10 Billion
Signature Bank (SBNY) will shrink its deposits tied to cryptocurrencies by $8 billion to $10 billion, signaling a move away from the digital asset industry for the bank that until recently had been one of the most crypto-friendly companies on Wall Street.
Wall Street Giant Goldman Sachs to Buy Troubled Crypto Firms Amid FTX Saga
Goldman Sachs has already invested in 11 virtual asset-related companies that provide services ranging from compliance, cryptocurrency data and blockchain management services.
Kevin O’Leary Defends Sam Bankman-Fried, Says FTX Should Be Audited
In an interview with Yahoo Finance on Dec. 6, Shark Tank’s Kevin O’Leary called for calm in the wake of FTX’s collapse. The exchange’s former CEO, Sam Bankman-Fried, should be understood as innocent unless evidence comes to light that shows he has committed fraud, O’Leary stated.
Financial Stability Board Aims to Address Crypto-Related Issues Following ‘Failure of FTX’
The international monitoring body Financial Stability Board <a href="https://www.fsb.org/2022/12/fsb-plenary-meets-in-basel-2/" target="_blank">said</a> it planned to “enhance its crypto-assets monitoring framework” to include “DeFi-specific vulnerability indicators” as well as address the potential impact of having DeFi becoming more closely connected to traditional financial markets. According to the monitoring body, the financial stability risks from the crypto market were “limited” following FTX’s liquidity crisis and bankruptcy, but “growing linkages of crypto-asset firms with core financial markets and institutions” increased their potential.
Wikipedia Editors List FTX’s Questionable Blunder As the Top Trading Loss of All-Time
Following the collapse of FTX at the beginning of November, two top executives from FTX and Alameda Research — Sam Bankman-Fried and Caroline Ellison — have been listed among traders with the top trading losses worldwide on Wikipedia. According to the Wiki page, Bankman-Fried’s and Ellison’s so-called ‘trading loss’ of 51 billion nominal U.S. dollars is at the top of the list in terms of the highest nominal amount of funds lost by trading.
