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…
Insurance Companies Shun Clients With Links to FTX Due to High Contagion Risks
December 19, 2022
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Business & MarketsCompaniescryptocurrencycryptocurrency exchangeeconomyFTXInsurersInvestmentMarketsSam Bankman-FriedUSUS News
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Federal Prosecutors Had FTX on Their Radar Months Before Collapse
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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