Tag

crypto

FTX Is Suing Binance To Recover Nearly $1.8 Billion

The estate of now-defunct crypto exchange FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao in a bid to recover $1.76 billion, The Verge reported.  FTX alleges these funds were fraudulently transferred to Binance, Zhao, and other Binance executives in July 2021 as part of a shares repurchase with FTX co-founder Sam Bankman-Fried. According to the

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FDIC Sent Cease and Desist Letters to Crypto Companies

The Federal Deposit Insurance Corporation (FDIC) issued letters demanding five companies and their officers, directors, and employees cease and desist from making false and misleading statements about FDIC deposit insurance and take immediate corrective action to address these false or misleading claims. Here is more information from the FDIC’s post: Based upon evidence collected by the FDIC, each of these

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