Bankrupt FTX Faces Criminal Investigation in the Bahamas

The once multi-billion dollar cryptocurrency enterprise, which was headquartered in the Bahamas, started unraveling after a CoinDesk article questioning the financials of FTX’s sister company Alameda Research led to a liquidity crunch in early November. On Tuesday, rival exchange Binance was looking to buy the embattled FTX before the deal was scrapped – the exchange is now seeking protection from bankruptcy in the U.S. Source

FTX under investigation in the Bahamas for criminal misconduct

An investigation of possible criminal misconduct over the insolvency of cryptocurrency exchange FTX is underway by financial investigators and the Bahamas securities regulators, according to a statement by the Royal Bahamas Police Force sent to Reuters on Nov 13.  The Royal Bahamas Police stated: “In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd., a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred.” The investigation comes…

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Hey, Subscribe! Jordan Peterson chats with Bitcoin legend Seifedean Ammous. Get 5% off your trading fees for LIFE by joining Binance: Get 10$ in Bitcoin by joining Coinbase: Original video: If you have any complaints against my channel please send me an email to the email provided below and compliance will be awarded. FAIR USE NOTICE: The use of media materials featured on this channel is protected by the Fair Use Clause of the U.S. Copyright Act of 1976, which allows for…

SBF’s ‘Truly Trustless’ Protocol — Serum’s Upgrade Authority May Be Tainted, Devs Look to Fork Project – Altcoins Bitcoin News

According to Solana’s founder, Anatoly Yakovenko, Serum developers are forking the platform because the “upgrade key to the current one is compromised.” Serum, created by FTX’s Sam Bankman-Fried (SBF), was touted as “completely permissionless,” but now that the exchange has fallen, it’s suspected that Serum’s upgrade authority is tainted. A So-Called ‘Trustless’ Defi Protocol With a Possible Tainted Upgrade Authority Pushes Devs to Fork Serum Project While FTX and Alameda Research have filed bankruptcy and FTT’s tokenomics highlights red-flags, Solana founder Anatoly Yakovenko says Serum devs are planning to fork…

Liquidity hub Serum forked by developers after FTX hack

Solana’s developers forked the widely used token liquidity hub Serum, after being compromised by a hack on the bankruptcy exchange FTX on Nov. 11 that led to a series of unauthorized transactions.  According to pseudonymous developer Mango Max on Twitter, a “verified build of the same version has been made and deployed” on Nov 12. Additionaly, the upgrade authority and fee revenues “have been changed and are now managed by a multi-sig controlled by a team of trusted developers.” Serum (SRM) and megaserum (MSRM) tokens, as well as fee discounts…