Kevin O’Leary Tells US Lawmakers FTX Failed Because Binance Intentionally Killed It

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has told U.S. Congress that he believes the collapsed crypto exchange FTX failed because rival Binance intentionally put it out of business. He said former FTX CEO Sam Bankman-Fried (SBF) told him that Binance, which owned a 20% equity stake in FTX, refused to comply with regulators’ … Read more

SEC, DOJ Investigate FTX — Regulators Suspect Crypto Exchange Mishandles Customer Funds

The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance walked away from the acquisition of FTX. U.S. Regulators and DOJ Investigate Crypto Exchange … Read more

Binance Backs out of FTX Deal Citing ‘Due Diligence,’ Reports of ‘Mishandled Customer Funds’

The world’s largest cryptocurrency exchange Binance will not go through with purchasing the rival crypto exchange FTX. The company noted that after due diligence and “news reports regarding mishandled customer funds,” Binance has decided not to pursue the FTX acquisition. Binance Drops the FTX Acquisition After the crypto exchange Binance revealed it would purchase FTX, … Read more

Maple Finance Lending Pool Delegate ‘Identified a Number of Key Weaknesses’ Tied to FTX’s Alameda Research

According to a report from Orthogonal Credit, a delegate of Maple Finance’s lending pools, the firm decided “earlier this year” not to lend to Alameda Research, FTX’s quantitative trading firm. Orthogonal said through “due diligence” it “identified a number of key weaknesses” associated with Alameda. Orthogonal Credit Found ‘Key Weaknesses’ Tied to FTX’s Alameda Research … Read more