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FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders

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According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX’s $6.8 … Read more

Bill Presented in Brazil Seeks to Include Crypto as Approved Means of Payment

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A new bill presented in Brazil is trying to introduce bitcoin and other cryptocurrencies as an approved means of payment in the country. The bill, presented by Federal Deputy Paulo Martins, proposes to amend already existing regulations to include several dispositions that would allow cryptocurrency payments and investments to be officially supported. New Bill Proposes … Read more

Argentinian Tax Authority Will Be Able to Confiscate Digital Wallets to Collect Tax Debts

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The Argentinian Tax Authority (AFIP) will now be able to confiscate the assets that taxpayers have in digital wallets if they have debts with the organization. The recommendation for attorneys of this institution to include these digital accounts was made last year, but the execution of debt collection was suspended during the Covid-19 pandemic period. … Read more

Turkish Government Freezes Over 3 Million Bank Accounts

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Hundreds of thousands of businesses and individuals with tax obligations to the Turkish state have received foreclosure notices this week informing them about their frozen bank accounts. The government of Turkey, which is struggling with financial and economic problems under geopolitical pressure, is likely to push even more of its citizens towards cryptocurrencies with the … Read more