Following the collapse of the FTX crypto exchange due to a liquidity crunch, several global crypto firms have conducted the audits of their respective proofs-of-reserves. The aim is to ensure their users that, under any emergency, the exchanges will be able to handle all withdrawals without going bankrupt. Officials from…
FTX founder and former Chief Executive Sam Bankman-Fried said he expanded his business too fast and failed to notice signs of trouble at the exchange, whose downfall sent shock waves through the crypto industry, the New York Times reported late on Monday. “Had I been a bit more concentrated on…
Billionaire Elon Musk is already floating major changes for Twitter — and faces major hurdles as he begins his first week as owner of the social-media platform. Twitter‘s new owner fired the company’s board of directors and made himself the board’s sole member, according to a company filing Monday with the…
Elon Musk was forced through a months-long court battle to buy Twitter on Thursday, but numerous lawsuits remain against the world’s richest person and electric carmaker Tesla, where he is chief executive. Twitter Lawsuit Twitter investors sued Musk in May in San Francisco federal court, claiming he manipulated Twitter’s stock…
US Securities and Exchange Commission (SEC) chair Gary Gensler has stated that he doesn’t view decentralisation as a fact of crypto markets, despite the origins of digital currencies in circumventing centralised authorities. Speaking at the Securities Industry and Financial Markets Association’s (SIFMA) annual meeting on October 24, Gensler acknowledged that…
Three Arrows Capital (3AC) is facing a probe by two US authorities in the wake of the firm’s bankruptcy. A recent report reveals that the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are looking into potential investor conduct violations by Three Arrows. The regulators are explicitly…
Oracle will pay about $23 million (nearly Rs. 190 crore) to resolve charges that its units in Turkey, the United Arab Emirates and India used slush funds to bribe foreign officials in order to win business, the US Securities and Exchange Commission said on Tuesday. The case covered alleged wrongdoing…
Twitter CEO Parag Agrawal reportedly told the company’s employees at an internal meeting that the accusations by a former employee and whistleblower were inaccurate. The company was rocked by allegations of poor security against spam accounts and hackers on Tuesday, levelled by its former chief of security. Twitter is also preparing…
The US Securities and Exchange Commission (SEC) chairman Gary Gensler said the commission might tailor securities laws for crypto companies to comply. In an interview, Gensler said the commission has “exemptive authorities” to tailor its investor protection and disclosure laws. Gensler continued that several crypto companies have been non-compliant in…
The US Securities and Exchange Commission sent a letter to Elon Musk last month asking for clarification over some of the tweets the billionaire sent about his $44 billion (nearly Rs. 3,51,400 crore) deal for Twitter, regulatory filing showed on Thursday. The US Securities and Exchange Commission (SEC) asked Musk…
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