Tag: CEO

Bahamian securities regulator slams new FTX CEO over ‘misstatements’

boss

The Securities Commission of Bahamas has slammed the current CEO of bankrupt crypto exchange FTX John J. Ray III for his statements regarding the ongoing investigation into FTX.  In a press release sent to Cointelegraph, the Bahaman regulator didn’t directly point toward the exact statements of the CEO, but addressed recent reports that suggest the Bahamas’ government asked former CEO Sam Bankman-Fried to create a new multi-million token and hand over the control to them. The said report also alleged Bahamas officials tried to help Bankman-Fried regain access to key…

What Goldman Sachs’ CEO misunderstands about private blockchains

boss

Only one of the following news items is real, but someday, all will sound equally comical. Headline, 1896: The owner of Wagoneer & Sons, a leading horse-drawn carriage maker, has announced the adoption of a new machine called the “internal combustion engine” to improve its manufacturing process. “Gas engines are powerful but dangerous,” the owner said. “We will use them to make better wagons. Headline, 1918: The American Association of Candle Makers has announced a new initiative to electrify its wax-making process. It believes that electricity is too dangerous to…

SEC charges former FTX CEO SBF for defrauding investors a day after his arrest

boss

The United States Securities and Exchange Commission (SEC) has filed charges against Sam Bankman-Fried, the former CEO of now-bankrupt crypto exchange FTX.  The SEC has charged Bankman-Fried with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC’s complaint seeks injunctions against future securities law violation that prohibits Bankman-Fried from participating in the issuance, purchase, offer, or sale of any securities except for his own personal account. Related: SBF planned to blame everyone but himself, shows leaked Congress testimony SEC charged Bankman-Fried…

Fugitive Do Kwon Now Staying in Serbia Report Says — Terraform Labs CEO Suggests SBF Is to Blame for UST Depeg – Regulation Bitcoin News

boss

A new report has claimed that Do Kwon, the fugitive CEO of Terraform Labs, is currently staying in Serbia. The report added that the South Korean government has engaged the Serbian government regarding the matter. Meanwhile, Kwon has accused Sam Bankman-Fried and Alameda Research of orchestrating events that led to the “depeg” of Terra’s once-stable coin UST. Do Kwon Getting Help in Serbia According to South Korean online publication Chosun, Do Kwon, the CEO of Terraform Labs who is wanted on charges of providing false information to investors, is living…

FTX was an ‘utter failure of corporate controls at every level of an organization’, says new CEO

boss

John Ray, who took over as CEO of crypto exchange FTX amid bankruptcy proceedings, has provided detailed written testimony ahead of his Dec. 13 appearance before the United States House Financial Services Committee.  In testimony made available for the “Investigating the Collapse of FTX, Part I” hearing, Ray reiterated many of the claims made in bankruptcy court, saying the collapse of the collapse was due in part to “the absolute concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals.” Ray, who oversaw…