US House Committee to Investigate and Hold Bipartisan Hearing on FTX Collapse
Committee Chair Maxine Waters and Representative Patrick McHenry said in a joint press release that a bipartisan hearing has been announced that will investigate the collapse of FTX. Congresswoman Waters said the FTX collapse caused huge losses to more than a million users, many of whom were everyday people who invested their hard-earned money through the FTX cryptocurrency exchange and will now have a hearing with Ranking Member McHenry.
The firm Chai of Terraform Labs co-founder Daniel Shin has reportedly been raided by Seoul prosecutors.
Tea Corporation, a company owned by Terraform Labs (TfL) co-founder Daniel Shin, was raided by South Korean investigators, according to a new report. Firm Chai is a payments company created by TfL co-founder Shin and it is said to issue Chai with the KRW token also known as KRT. According to him Chai was closely involved with TfL operations. The KBS report comes after Not Kwon has been accused by South Korean investigators of manipulating Luna’s price.
Market maker B2C2 Genesis offers to buy loans from crypto-lending unit
The lending arm of crypto financial firm Genesis on Wednesday halted customer withdrawals and Manufacturer B2C2 has suddenly offered to buy debt from struggling crypto financial firm Genesis. B2C2 has provided critical liquidity and support to our global customer base which is well positioned to refinance existing loans to the broader market.
Robert Kiyosaki Says Bitcoin Isn’t the Problem
Robert Kiyosaki, the well-known author of the best-selling book Rich Dad Poor Dad, does not see bitcoin as a problem, nor does he see any problems with bitcoin cryptocurrencies following the collapse of FTX. According to him, Sam Bankman-Fried, the former CEO of FTX, is more like the Bernie Madoff of crypto than Warren Buffett of crypto. He expressed his thoughts about the FTX collapse and said that gold silver police and crypto and bitcoin are important for our personal freedom and investment but also US President Joe Biden, his family, Federal Reserve, even Marxist teachers and corrupt leaders are current problems Huh.
Kiyosaki said all this because he is a bitcoin investor himself and has been recommending bitcoin for a long time.
9 celebrities named in class action lawsuit related to FTX
Former FTX CEO Sam Bankman-Fried and several celebrities, including Tom Brady, Gisele Bündchen, Stephen Curry and Shaquille O’Neal, have been named in the FTX Misleading and False Rumor Case because of their unregistered and unauthorized FTX affiliations. was. American consumers collectively suffered more than $11 billion dollars in damages. During the firing, it was said that most of the fraudulent e-mails and messages from FTX have been deleted.
Tim Draper is still positive on the $250K bitcoin price prediction in 2023.
Despite the ongoing crisis in the crypto industry, young entrepreneur and venture capitalist Tim Draper is sticking to his statement on bitcoin. He says that Bitcoin will reach $250000K by 2023 even when everything is looking pessimistic at present despite the FTX collapse. According to him the FTX collapse has nothing to do with the Bitcoin cryptocurrency as Bitcoin is decentralized while FTX is not. He cautioned that bitcoin and tsunami chaos pose risks in investing but would still advise that investors’ money and their capital is safer, decentralized and not centralized.
Australia suspends local FTX’s financial services license.
Australia’s Securities Regulatory Commission suspends the license of bankrupt crypto firm FTX until mid-May. Limited financial services will be allowed to be provided till December 19, according to a statement.
