Benzinga

OCTOBER 1, 2022

billion offer, FTX was named the successful bidder for the insolvent cryptocurrency company Voyager Digital Ltd. See Also: FTX's Bankman-Fried Wants To Buy This Troubled Crypto Lender. The majority of FTX's offer was centered on Voyager's $1.31 The majority of FTX's offer was centered on Voyager's $1.31

Marketability 52

Marketability 52

Law 360 M&A

MAY 4, 2023

Bankrupt crypto exchange FTX Trading Ltd. got a Delaware bankruptcy court's approval Thursday to sell its LedgerX LLC derivatives platform and clearinghouse business to a subsidiary of global trading company Miami International Holdings Inc. after no one raised objections to the $35 million cash sale.

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Law 360 M&A

MARCH 23, 2023

A Canadian billionaire and "Magic" Johnson are the latest suitors to emerge for the Washington Commanders, the Miami International Securities Exchange wants to buy FTX's cryptocurrency derivatives platform, and a bidding war is brewing for Baxter International’s biopharma solutions business.

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Law 360 M&A

DECEMBER 9, 2022

The spillover risks of cryptocurrency exchange FTX's bankruptcy extend widely, as it was the exchange side of at least 130 interrelated businesses that were never subject to outside auditing, so companies should think about where FTX's web may have touched them without their knowing it, says Christopher Ott at Loeb & Loeb.

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Brian DeChesare

NOVEMBER 16, 2022

In the days after the elections, a much more interesting story emerged with the bankruptcy of FTX following massive fraud and a “liquidity crisis” at the company. FTX was founded as a cryptocurrency exchange in 2019 and gained over 1 million users by 2021, becoming the 3 rd largest exchange by volume and earning over $1 billion in revenue.

Start-ups 52

Start-ups Banking Finance Technology 52

Audit Board

APRIL 2, 2023

Case in point: the FTX collapse, in which at least $1 billion in client funds have been lost due to poor (and arguably criminal) governance, hidden from view by a lack of transparency and accountability. But, truthfully, FTX is just the tip of the iceberg. Just look at Celsius , which declared bankruptcy in July.

Banking 52

Banking Start-ups Marketability Compliance 52

Benzinga

NOVEMBER 9, 2022

Even Binance, which has been particularly busy the past few days with FTX, was on board then with a $200-million strategic investment before the deal's public debut, which would have made Binance one of the top two biggest owners of Forbes. NASDAQ: OPA ).

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Law 360 M&A

JUNE 30, 2022

Crypto giant FTX is exploring whether it can acquire trading app Robinhood, Elon Musk has gained access to Twitter's full stream of tweets, which he has made a condition of his proposed acquisition, and BC Partners may sell its dental products business.

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Reynolds Holding

MAY 29, 2023

The combination of the collapse of the FTX group, [1] the failure of Terra’s UST stablecoin, [2] 3AC’s bankruptcy, [3] and crypto losing $2 trillion in market value became aptly known as the “Crypto Winter” of 2022-23. [4] For instance, Binance, Coinbase, FTX, and others operate or operated as centralized exchanges (“CEXs).

Finance 64

Finance Banking Marketability Technology 64

Audit Board

DECEMBER 12, 2022

New Chief Calls FTX’s Corporate Control a ‘Complete Failure’. The ink is still wet on this one, but FTX may yet rival the most iconic corporate scandals in history. This should be a wake-up call not only for cryptocurrency, but for the entire global business community. Billions of dollars appear to be either lost or stolen.

Compliance 52

Compliance Marketability Technology 52

Benzinga

JANUARY 5, 2023

Department of Justice is working to seize $465 million worth of Robinhood Markets Inc (NASDAQ: HOOD ) shares associated with Sam Bankman-Fried , the founder of the collapsed FTX cryptocurrency exchange. The regulator sought more information on the company's business operations. year-on-year to NT$629.34

Marketability 98

Marketability Technology 98

Reynolds Holding

MARCH 5, 2024

Public outcry following the failure of FTX, Celsius, and other cryptoasset platforms no doubt forced the commission’s hand to a certain degree. [1] ENDNOTES [1] See, e.g. , Hal Scott & John Gulliver, A Question for Congress: Why Didn’t the SEC Stop FTX? This post comes to us from Onnig H. Dombalagian, the John B. available here.

Marketability 59

Marketability Finance Compliance Equity 59

Reynolds Holding

JULY 4, 2023

The Securities and Exchange Commission’s recent actions against Binance and Coinbase show that the commission is worried about the business model of crypto-trading platforms. These enforcement actions come after a series of scandals and market crashes, including at FTX, Celsius, and Voyager.

Marketability 59

Marketability Finance Technology Banking 59

Audit Board

JANUARY 2, 2023

So this year’s list takes the resolution a crucial step further, because improved collaboration across the three lines of defense has become a genuine business imperative. The FTX scandal is already a fable for our time, reminding us that culture and governance still matter. I still don’t see this as a widespread practice.

Compliance 88

Compliance Technology 88

Reynolds Holding

NOVEMBER 29, 2023

In each of these cases, the SEC highlighted that respondents’ employees used unauthorized messaging platforms on personal devices to communicate about business matters, and the respondents failed to preserve the “substantial majority” of these communications. 4] FY 2023 Enforcement Press Release. [5] 13, 2022), [link]. [6]

Banking 49

Banking Compliance Marketability Start-ups 49

Reynolds Holding

APRIL 18, 2024

Most recently, we’ve seen these storms ravage investors in the crypto markets with the spectacular collapses of FTX and Terraform, among others. With ESG, we saw large swaths of investors become interested in firms and companies that incorporated ESG into their investment strategies and business plans. 2] In re: FTX Trading Ltd , No.

Compliance 45

Compliance Technology Start-ups Marketability 45

Audit Board

MAY 31, 2023

Often the team is laser-focused on growing the business and achieving its goals with little thought into establishing a well-controlled environment. Every company, especially private companies and startups, can benefit from the specialized skills internal auditors bring to the business and the culture of control they can help establish.

Start-ups 52

Start-ups Compliance 52

Reynolds Holding

FEBRUARY 1, 2023

12] As one Fifth Circuit court noted “if the [investors] did not possess the information requisite for a registration statement, they could not bring their sophisticated knowledge of business affairs to bear in deciding whether or not to invest.” [13] 13] In that case, the offering would not be exempt. The exception is no longer narrow.

Marketability 58

Marketability Corporate Finance Compliance Equity 58

Brian DeChesare

JANUARY 4, 2023

Meanwhile, disasters kept emerging in the riskiest parts of the market, such as crypto (see: FTX , Celsius, etc.), Also, as deal activity and hiring fell at banks, this business performed poorly for the year. The article about the FTX bankruptcy summarizes my views on crypto, and I don’t have much to add here.

Marketability 91

Marketability Start-ups Treasury Dividends 91

Reynolds Holding

NOVEMBER 28, 2022

Crypto trading is wholly unconnected to the productive purpose that defines finance: helping businesses, individuals, and governments raise, save, transmit, and use money for socially and economically useful ends. Banks allow savings to be pooled and turned into loans for fruit orchards, solar farms, automobiles, small business, and housing.

Finance 145

Finance Banking Marketability Treasury 145

Reynolds Holding

MAY 16, 2024

Direct clearing : Prior to the calamitous demise of FTX, the CFTC was considering permitting direct clearing. It is likely for this reason that CME filed an application for direct clearing with the CFTC soon after the clearinghouse owned by FTX filed its application for direct clearing.

Market Risk 59

Market Risk Marketability Banking Equity 59

Reynolds Holding

JULY 24, 2023

293 (1946) and its progeny, is a factor that weighs in favor of treating an asset as a security — the token would be presumed to be a commodity and fall within the CFTC’s jurisdiction, as long as the issuer follows certain SEC disclosure requirements. However, the SEC would still retain some jurisdiction over digital assets under the bill.

Dividends 40

Dividends Finance Banking Equity 40

Reynolds Holding

DECEMBER 17, 2023

Well-known examples include the collapses of WeWork, Theranos, and FTX. These companies not only had a toxic work culture or failed to comply with laws and regulations, but more importantly, their business models were either fraudulent or could not realistically support the firms’ valuations.

Intangible Assets 59

Intangible Assets Compliance Technology Marketability 59

Musings on Markets

NOVEMBER 15, 2022

I will close with a look at why business stories can break, change and shift, focusing in particular on the forces pushing Facebook to expand or perhaps even change its story, and whether the odds favor them in that endeavor.

Start-ups 90

Start-ups Marketability Market Capitalization Technology 90

Reynolds Holding

FEBRUARY 12, 2023

There have also been a series of high-profile scandals at the likes of Uber, WeWork, FTX, where VCs have proven unable or unwilling to prevent founder misbehavior. In exchange, the VCs agree to let the founders extract private benefits from the business.

Finance 59

Finance Firm-specific Risk Equity Specific Risk 59

Reynolds Holding

APRIL 30, 2023

FTX, the failed crypto exchange, has filed in Delaware. In such a situation, chapter 11 might be an attractive option, but chapter 11 is designed around the premise that it is better to keep a business operating – better, in the sense that an operating business is typically worth more than a shuttered business.

Banking 59

Banking 59

Reynolds Holding

APRIL 4, 2023

In late 2022, the cryptocurrency exchange FTX collapsed. Hypernet was a company incorporated in the Cook Islands, with its principal place of business in Palo Alto, California. Over the past six months, the crypto industry has suffered setback after setback. Hypernet”). Rostami was then a U.S. citizen residing in Puerto Rico.

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59

Audit Board

JULY 19, 2023

Whether from uncertainty about how to proceed, apprehension about what they’ll find, or a lack of understanding of culture’s connection with strategic business risks, most organizations and the internal auditors who serve them lack maturity in assessing culture risk. Fortunately, it is within your power to get started today.

Start-ups 52

Start-ups Compliance 52

Reynolds Holding

JUNE 13, 2023

Mapping the Framework to Regulatory Structure The classification challenges surrounding crypto are made more difficult by America’s “ highly fragmented ” system of financial regulation , and further exacerbated by intense industry lobbying – much of it led by FTX – as well as market practices often at odds with legal guidance.

Marketability 64

Marketability Equity Banking Technology 64

Brian DeChesare

MARCH 13, 2023

To explain this point, we need to step back and explain the business model of commercial banks. Startups were already struggling in the current environment due to higher rates, a slowing economy, much tougher fundraising, and high-profile crypto failures like FTX – and SVB has only added to these troubles.

Banking 112

Banking Start-ups Equity Treasury 112

Reynolds Holding

DECEMBER 5, 2022

Importantly, the infrastructure of corporate governance – namely, the structure and allocation of responsibilities and decision-making authority, and related principles, policies and information flows to facilitate such functioning – continues to serve as the anchoring framework for the board’s oversight of dynamic business conditions.

Technology 66

Technology Banking Compliance Finance 66

Reynolds Holding

DECEMBER 17, 2023

The investing public benefits when they receive disclosures and related protections about a project’s prospects and business. 1 (FTX Trading Ltd.). [11] 14] See Further Definition of “As a Part of a Regular Business” in the Definition of Dealer and Government Securities Dealer , 87 Fed. 29, 2022), Dkt. 37579, 37603, 37585 n.97,

Marketability 45

Marketability Compliance Technology Finance 45

Reynolds Holding

FEBRUARY 1, 2023

Technology will continue to revolutionize the market for products and threaten existing business models, which may create opportunities for M&A and other corporate transactions. Celsius Network, LLC, FTX Trading Ltd. billion) and PS Business Parks ($7.6 The year ended with total deal volume of $3.6 Berkshire Hathaway Inc.’s

Finance 45

Finance Equity Technology Banking 45

Reynolds Holding

APRIL 20, 2022

This solution has also been advocated by some digital asset firms and CEOs , including Sam Bankman Fried of FTX, because the CFTC has historically acted favorably towards digital assets – going back to the 2017 self-certification of bitcoin futures and the embrace of former CFTC Chair Giancarlo as “Crypto Dad.”

Marketability 83

Marketability Banking Finance Start-ups 83

Reynolds Holding

NOVEMBER 14, 2023

Cases that resulted in officer and director bars or other industry bars—among other remedies—against individuals included: A former Wells Fargo executive was barred from serving as an officer or director of a public company as part of a settlement of fraud charges for misleading investors about the success of Wells Fargo’s core business.

Marketability 45

Marketability Finance Private Equity Firm Compliance 45