Category: cryptocurrency exchange

Insurance Companies Shun Clients With Links to FTX Due to High Contagion Risks

December 19, 2022
Business & MarketsCompaniescryptocurrencycryptocurrency exchangeeconomyFTXInsurersInvestmentMarketsSam Bankman-FriedUSUS News
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Insurance companies are now denying or limiting coverage to any clients who were exposed to FTX, after the cryptocurrency exchange collapsed last month, leaving creditors with more than $3 billion in losses. This has left many digital currency traders and exchanges uninsured from any losses due to hacks, theft, or lawsuits, as insurers propose new policy…

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Federal Prosecutors Had FTX on Their Radar Months Before Collapse

November 22, 2022
Alameda Researchcryptocurrency exchangeeconomyFTXmoney launderingSam Bankman-FriedUSUS News
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Federal prosecutors from Manhattan investigated for months the now-bankrupt cryptocurrency exchange FTX in connection with a 1970 law designed to prevent money laundering, but it is unclear whether the investigation concluded prior to the firm’s recent collapse amid a liquidity crisis, according to Bloomberg Monday, citing anonymous sources. The U.S. Attorney’s Office for the Southern…

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