Robby Soave explains how — and why — the crypto currency exchange FTX tumbled last week, sending shockwaves through the crypto community. #FTX #cryptocurrency #bitcoin

    The general counsel for cryptocurrency trading company FTX announced on Saturday that the exchange is investigating unauthorized transactions.

    According to lawyer, Ryne Miller, “Among other things, we are in the process of removing trading and withdrawal functionality and moving as many digital assets as can be identified to a new cold wallet custodian.””

    The CEO, who previously led failed energy company Enron through bankruptcy, added that FTX launched an “active fact review and mitigation exercise” directly after the unauthorized exchanges were identified. The company is also in contact with law enforcement and various regulators.

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    34 Comments

    1. Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..

    2. i wonder if Bri know that the current Federal Reserve has eliminated reserve requirements for all depository institutions. so basically a bank can lend an unlimited amount of funds and have no reserves preventing a run.

    3. BJG, the power of cryptocurrencies is the transparency. SBF was working against that transparency. Do some research or interview ppl before you opine

    4. So we are just gunna skip over the part where FTX tied itself to the Ukrainian war effort and took in large portions of the US-Ukraine war aid only to send it back to democrats in donations????

      That’s called money laundering folks.

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    7. I'm richer than this scammer and will always be. He's in negative and people in Africa are beoke but not in negative. Bums are broke but not in debt

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